Class Claims MoviePass Owner Misrepresented Prospects Before Massive Stock Plunge
(CN) – Helios and Matheson Analytics Inc., the majority owner of popular theater service MoviePass, faces a class action by
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shareholders
Royal Bank of Scotland Settles with DOJ for Record $4.9 Billion in Financial Crisis RMBS Case
(CN) – The U.S. Department of Justice reached a record settlement of $4.9 billion with the Royal Bank of Scotland for “financial-crisis era mismanagement.”
Read moreFifth Circuit Delivers Partial Victory to Class in Securities Fraud Case Against Hanger Inc.
(CN) – Shareholders scored a partial victory on appeal of a previously dismissed securities fraud complaint against medical service provider Hanger Inc. and its former CFO George McHe
Read moreRite Aid, Albertsons Call Off Merger Deal Ahead of Vote
Rite Aid and the grocer Albertsons called off an agreement to become a single company with the deal facing shaky prospects in a shareholder vote.
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Derivative Action Says Stericycle Bolstered Revenues With Bogus Automatic Price Increases
(CN) – On top of multi-million dollar settlements ordered against hazardous waste management company Stericycle Inc., a shareholder derivative accuses
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Derivative Action Slams Tetraphase Pharma Over Failed Drug Trial
(CN) – A shareholder derivative lawsuit claims Tetraphase Pharmaceuticals Inc. defrauded investors by making false claims about the progress of an
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Twitter Granted Stay of Delaware Derivative Action While Class Action Looms in California
(CN) – A federal judge in Delaware granted Twitter a motion to stay a consolidated shareholder derivative action, which accuses the company’s directors of concealing information about sluggish growth.
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Crytopcurrency Firm Failed to Register Offerings With SEC, Class Claims
(CN) – Shareholders claim in a class action that Ripple Labs Inc. and its subsidiary, XRP II LLP, sold unregistered
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Genocea Faces More Fallout Over Shelved Herpes Drug
(CN) – A shareholder derivative action says Genocea BioSciences exaggerated the viability of a herpes drug while the company lacked
Read moreFujifilm Sues Xerox for $1 Billion After Merger’s Collapse
Fujifilm is blaming the collapse of its merger with print and copy giant Xerox on the whims of activist investors Darwin Deason and Carl Icahn and has asked a court to award it more than $1 billion in damages.
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11th Circuit Reverses Lower Court on Raymond James Class Action
(CN) – A proposed class action against Raymond James & Associates claiming the company kept profits from processing fees is not precluded by federal law, the 11th Circuit ruled.
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Verifone’s Go-Private Deal Falls Flat for Shareholders, Class Claims
(CN) – Verifone Systems’ plan to take the company private in a deal valued at $3.4 billion spurred a class
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Class Sues Micro Focus After Merger With HP Spinoff
(CN) – British software firm Micro Focus International overstated the benefits of a proposed merger with Hewlett Packard spinoff HPE
Read moreCBS Renews NAI Fight, Seeks Court Approval of Dilution Vote
CBS Corp. asked a Delaware judge on Wednesday to bless a move by its board to dilute the stock voting power of its controlling shareholder, the latest step in an ongoing legal battle for control of the mass media company.
Read moreCampbell Cans CEO, Touts Strategic Review
The CEO of Campbell Soup announced her retirement Friday as the company announced that it will undertake a strategic review to address poor sales in a climate that is increasingly hostile to processed foods and imported steel.
Read moreJudge Denies CBS Request for TRO in Redstone Case
A Delaware judge denied CBS’ request for a temporary restraining order against controlling shareholder Shari Redstone, setting the stage for a possible board shake-up over a proposed merger with Viacom.
Read moreJudge Mulls CBS Restraining Order Against Major Shareholder
A Delaware judge has ordered a pause in a dispute between CBS and its majority shareholder that could decide control of the company.
Read moreCBS and Majority Shareholder Duke It Out in Court
CBS and its majority shareholder are duking it out in a Delaware court. CBS has sued its majority shareholder, National Amusements, ahead of a scheduled Thursday board vote on a dividend that would dilute National Amusement’s voting power from 80 percent to 17 percent, effectively giving CBS independence.
Read moreEighth Circuit Hears Dispute Over Mortgage Profits
The Eighth Circuit heard arguments Tuesday over whether the diversion of Fannie Mae and Freddie Mac’s profits to the U.S. Treasury Department after the 2008 financial crisis illegally stiffed shareholders.
Read moreXerox Calls Off $6 Billion Fujifilm Merger
After a period of uncertainty that has included a court injunction and the resignation of its chief executive officer, Xerox announced Sunday that it terminated a proposed $6.1 billion merger with Fujifilm, a deal that investors said undervalued the U.S. print firm.
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