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
Read moreThe Delaware Chancery Court threw out a motion brought by Goldman Sachs that sought to dismiss a shareholder lawsuit accusing the firm of grossly overpaying its directors.
Read moreInvestors who blame Facebook’s Cambridge Analytica scandal on lax oversight from the top persuaded a judge Thursday to let them inspect the books.
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(CN) – In the aftermath of the fatal Ethiopian Airlines crash, Boeing investors filed a class action against the aerospace
Read more(CN) – The Delaware Supreme Court ruled in favor of oil and gas firm Earthstone Energy Inc., tossing shareholders’ claims that the company misled them into approving an unfair transaction between Earthstone and Bold Energy III LLC, but the court stopped short from killing the case altogether.
Read moreUnexpectedly arriving to federal court to face contempt allegations Thursday, tech billionaire Elon Musk had good reason to smile for the cameras after proceedings let out.
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(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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(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.
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