Goldman Sachs wants a reversal after the Second Circuit gave class status to investors without making them show that the bank’s misstatement actually led to any stock inflation.
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A federal judge found little support for claims that Facebook misled investors about its commitment to fighting discrimination and diversifying its workforce and leadership team.
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The Ninth Circuit upheld the dismissal of a putative shareholder class action against Sempra Energy and Southern California Gas Company alleging defendants’ misstatements before and after a “massive” natural gas leak from the Aliso Canyon gas storage reservoir triggered a drop in Sempra’s share price. The plaintiffs failed to “identify any particular defendant who made a false or misleading statement.”
Read moreA federal court in California dismissed a securities class action brought by firefighter and policemen’s pensions funds against Nektar Therapeutics over alleged false claims about the efficacy cancer treatment drug.
Read moreA shareholder derivative complaint filed in federal court in Nevada Monday alleges Sheldon Adelson, and other directors, officers and controlling shareholders of Las Vegas Sands Corp., filed misleading proxy statements and caused the company to repurchase more than $2 billion worth of its own stock at artificially inflated prices.
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Shareholders of Poland-based CD Projekt, creators of the video game Cyberpunk 2077, sued the company over the disastrous, unplayable — and ultimately recalled — release, which they say fell far short of the company’s nearly yearlong hype.
Read moreA federal court in New York dismissed a securities class action against Weight Watchers. Stockholders claim the company misled them by failing to disclose that its new business model relied upon the recruitment of lapsed members and that it had “abandoned its practice” of releasing program innovations at the end of each year.
Read moreThe Ninth Circuit revived a securities fraud class action brought by shareholders who claim BofI Holdings falsely portrayed the bank holding company — which operated the “Bank of Internet” — as being a safer investment than it was. The company’s stock price fell by more than 30% after the market learned of a whistleblower’s allegations, which the shareholders can rely on as a corrective disclosure to prove loss causation.
Read moreA federal court in California gave final approval to a settlement agreement in a dispute against SeaWorld brought by shareholders over comments made by park executives who said the documentary “Blackfish” did not affect park attendance. SeaWorld agreed to pay $65 million.
Read moreThe United Food and Commercial Workers International Union et al. sued Pilgrims Pride Corp. and its top officers in a federal class action, claiming their indictments on fixing prices of broiler chickens caused the stock price to drop.
Read moreA federal court in Indiana approved a $50 million settlement in a class action securities fraud case brought by investors against medical device company Zimmer Biomet Holdings. The investors claimed the company failed to disclose supply chain problems that led to a decrease in order fulfillment rates.
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SAN FRANCISCO (CN) — A federal judge won’t let Tesla duck a lawsuit brought by investors claiming founder Elon Musk’s
Read moreA federal class action claims World Wrestling Entertainment failed to disclose that Saudi Arabia refused to pay millions of dollars for broadcast rights, and when it was revealed WWE stock fell by more than 60% in a day, closing at $40.24.
Read moreA federal class action claims directors manipulated the price of Tupperware shares beginning Jan. 30, 2019, and the price fell by 45% when its inflated figures were revealed.
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SeaWorld agreed to pay $65 million to settle claims by shareholders over comments made by the park’s executives who said the documentary “Blackfish” had no effect on park attendance.
Read moreDirectors are selling Gardner Denver Holdings (industrial parts and services) too cheaply through an unfair process to Ingersoll-Rand in a proposed $5.8 billion merger, shareholders say in a federal class action.
Read moreGlen Taylor is best known in Minnesota for owning basketball teams, but he may soon be seen at a different kind of court. Stockholders in Envoy Medical Corporation say that the billionaire went for the steal to acquire their biotech firm.
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