Lyft Offering 30 Million Shares in Its IPO
Lyft kicked off the road show for its initial public offering, putting 30 million shares up for sale Monday with an anticipated price of between $62 and $68.
Read moreSecurities
Ponzi Pastors
Two pastors are running a $25 million Ponzi scheme targeting Vietnamese-Americans through a church they operate out of a strip mall in Westminster, Calif., the SEC claims in a federal complaint.
Read moreVolkswagen, Former CEO Defrauded Investors, SEC Says
U.S. regulators charged Volkswagen and former CEO Martin Winterkorn with defrauding investors during its massive diesel emissions scandal.
Read moreClass Dismissed
A federal judge dismissed without prejudice a shareholders class action accusing directors of selling Gigamon too cheaply through an unfair process to Eliot Management, for $38.50 a share, or $1.6 billion.
Read more$20 Million Ponzi
The SEC unsealed a case accusing William Neil Gallagher, a Texas radio host known as the “Money Doctor,” of targeting elderly Christians in a $19.6 million Ponzi scheme, in Dallas Federal Court.
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2nd Circuit Finds Galleon Group Founder Still on Hook for $93m SEC Penalty
(CN) – The Second Circuit Court of Appeals affirmed a $93 million civil penalty against Galleon Group founder Raj Rajaratnam.
Read more$4.8 Billion Merger
Directors are selling Spark Therapeutics too cheaply through an unfair process to Roche Holdings, for $114.50 per share or $4.8 billion, shareholders claim in a federal class action.
Read moreGoogle Paid Former Exec $35 Million After Harassment Claim
Google paid former search executive Amit Singhal $35 million in an exit package when he was reportedly forced to resign after a sexual assault investigation, according to court documents released Monday.
Read more$3.7 Billion Merger
Directors are selling Ellie Mae Inc. too cheaply through an unfair process to an affiliate of Thoma Bravo, for $99 a share or $3.7 billion, shareholders of the cloud-based mortgage finance company say in a federal class action.
Read moreTesla Shareholders Want Musk Cut Off From Twitter
Touting a class action they brought under seal, Tesla shareholders said Friday they are asking a judge to outfit Elon Musk with a Twitter muzzle.
Read more$74 Billion Merger
In a federal class action, shareholders say directors are selling Celgene Corp. too cheaply through an unfair process to Bristol-Myers Squibb, for $50 a share plus a 1-for-1 share swap, a $74 billion merger.
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Fracking Firm Touted ‘Extraordinary Turnaround’ as Demand Tanked, Class Claims
(CN) – FTS International Inc. stockholders claim in a class action that information about the company’s finances and operations was
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SEC Claims Corinthian Colleges Fudged Numbers to Access Student Loan Funds
(CN) – The Securities Exchange Commission claims in court that now-defunct Corinthian Colleges Inc. incurred unnecessary long-term debt in order
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Delaware Court Sides with Viacom in Post-Merger Earn-Out Payments Dispute with Harmonix Shareholders
(CN) – The Delaware Superior Court ruled in favor of media giant Viacom after former shareholders of Harmonix Music Systems, a video game company, filed suit following Viacom’s acquisition of the game developer in 2006.
Read moreCorinthian Colleges
The SEC claims in a federal complaint that Jack D. Massimino and Robert C. Owen, former CEO and chief accounting officer, respectively, of defunct, profit-seeking Corinthian Colleges aided and abetted Corinthian’s securities violations
Read moreJudge Eyes Contempt for Elon Musk Over New Tweet
Elon Musk’s misleading tweets about the price of Tesla shares last year forced him and his company into paying a $20 million securities settlement. Now the tech billionaire risks being held in contempt of court over a new tweet boasting about manufacturing expectations.
Read moreSecurities
In a federal class action, a pension fund claims Conagra Brands misled investors about its “troubled” $10.9 billion acquisition of nonparty Pinnacle Foods, and that an $8.13 share price decline wiped out $2.3 billion in market capitalization.
Read moreShareholder Class Action
A group of shareholders filed a class action lawsuit Friday against Pacific Gas & Electric, which has been implicated in some of California’s most devastating wildfires, claiming the utilities giant misled them about its lax wildfire safety practices.
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