Wednesday, September 27, 2023
Courthouse News Service
Wednesday, September 27, 2023 | Back issues
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Shareholder Class Action

Heartland Payment Systems faces a shareholder derivative action in Camden Federal Court, accusing its directors of failing to tell shareholders that a data breach exposed millions of customers to credit and debit card fraud.

Shareholders accuse Hi/fn Inc. and its board of directors of selling the company to Exar Corp. and Hybrid Acquisition Corp. for the unfair price of $60 million, in Santa Clara County Court.

Colonial BancGroup faces a shareholder derivative claim in Montgomery Federal Court, accusing it of defrauding investors by concealing a $300 million fund-raising contingency on the $550 million it would receive in government bailout money.

The directors of CF Industries have been accused of depriving shareholders of their true stock value by refusing to discuss mergers with other fertilizer companies, in Chicago Federal Court.

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