Lufthansa shareholders approved an $11 billion rescue package Thursday that will see the German government take a 20% stake after management told them the airline was running out of money and faced years of reduced demand for air travel.
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Shareholders of dismantled oil giant Yukos locked in a legal battle with Russia announced Monday that a Dutch court had granted them the local rights to two iconic vodka brands.
Read moreBlackrock Global Allocation Fund and 165 other funds sued Perrigo Co. in federal court, claiming it issued misleading statements on collusive pricing on generic drugs, and when the truth emerged the stock price dropped.
Read moreA federal court dismissed a suit against a 2018 California law that requires publicly traded corporations to include at least one woman on their board of directors. A shareholder of OSI Systems claimed the law impairs his right to vote for the company’s board of directors but the court ruled he failed to identify a concrete injury under the Equal Protection Clause.
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Up in arms over media reports that Norwegian Cruise Line became desperate and tried to dupe customers into booking cruises in the midst of the coronavirus outbreak, shareholders filed a class action against the company in federal court.
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A Dutch appeals court on Tuesday ordered Russia to pay $50 billion to former shareholders of oil and gas giant Yukos, the latest development in a complicated, 15-year legal battle.
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Shareholders claim in a class action that Google’s $2.1 billion bid to acquire wearable fitness technology company Fitbit undervalues the company and came to fruition through an unfair process.
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A cross-border securities class action against Canadian cannabis company HEXO Corp. alleges the company inflated revenue figures, misstated inventory, and grew cannabis in an unlicensed facility leading to hundreds of millions of dollars in market capitalization loss.
Read moreA derivative action against online loan platform LendingClub Corp. alleging that the company’s board of directors breached its fiduciary duties was dismissed in Delaware Chancery Court after investors failed to prove that the board acted in bad faith after self-reporting misconduct to the Securities and Exchange Commission.
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Four years in the making, a trial to determine whether Exxon must pay heavily for misleading shareholders about how the climate crisis would affect its bottom line began with a political splash Tuesday afternoon.
Read moreA class of shareholders claims in a federal lawsuit that SmileDirectClub practiced unlicensed dentistry in several states and faced legal action because of it, causing stock value to drop from a high of $23 a share to $12.94.
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(CN) – Caesars Entertainment is set to be acquired by Eldorado Resorts for $17.3 billion in cash and stock to
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Greenlane Holdings, one of North America’s largest sellers of cannabis accessories and liquid nicotine products, has been hit with a securities class action alleging the company and underwriters misled the public about its April 2019 initial public offering by withholding crucial information about a key supplier.
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The D.C. Circuit rejected a challenge brought by a paper-industry-backed consumer group, Twin Rivers Paper Company, against a Securities and Exchange Commission rule that allows investment companies to distribute shareholder reports electronically and mail paper copies upon request.
Read moreThe D.C. Circuit rejected the paper industry’s challenge to an SEC rule allowing investment firms to post shareholder reports online and mail paper reports upon request, as securities law is not intended to benefit the paper industry.
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Conagra Brands Inc. faces a shareholder derivative alleging the company’s top officers withheld wrongfully withheld information about internal issues spurred by its acquisition of Pinnacle Foods Inc.
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Joining a long list of complainants against pharmaceutical giant Teva Pharmaceuticals and similar drug makers, Israel’s largest pension fund manager claims in a class action that Teva colluded with competitors to exorbitantly raise the price of generic drugs over the past five years.
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Investors claim in a class action that U.K.-based health conglomerate Reckitt Benckiser Group PLC engaged in a multibillion-dollar scheme to facilitate opiate usage and abuse among U.S. consumers, generating over $3 billion in proceeds by allegedly misleading consumers and investors about risks of the company’s Suboxone film and Suboxone tablets, prescription drugs used to treat opioid addiction.
Read moreAccusing besieged utility Pacific Gas and Electric of dragging its feet in resolving its bankruptcy, a group of bondholders proposed a $30 billion restructuring plan Tuesday that will fully compensate wildfire victims and give certain groups the right to select PG&E board members.
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(CN) – Shareholders of cloud platform technology developer Pivotal Software Inc. claim in a class action that the company issued
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