Allegiant Travel’s Legal Woes Mount Over Allegations of Putting Profits Above Safety
Investors claim in a stockholder derivative complaint against Allegiant Travel Company that the airline dangerously prioritized profit over safety while
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shareholders
Campbell Soup Co. Hit With Class Action as ‘Fresh’ Division Losses Mount
Campbell Soup Company is facing a shareholder class action after the company racked up millions in operating losses in its
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Derivative Action Slams Symantec for Improper Revenue Reporting to Enrich Execs
Cybersecurity provider Symantec Corp. manipulated the company’s financial results and made false statements to investors until news of an Securities
Read moreFannie, Freddie Shareholder Suit Faces En Banc Review
The Fifth Circuit Court of Appeals agreed to rehear an action by Fannie Mae and Freddie Mac shareholders after a divided three-judge panel concluded that the Federal Housing Finance Agency (FHFA) was unconstitutional.
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Multinational Telecom Firm Altice Touted Pre-IPO ‘Strength’ While Tanking in Biggest Markets, Class Claims
Shareholders are suing communications company Altice USA after the company’s June 2017 initial public offering documents touted the company’s “competitive
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Canadian Cannabis Company Faces Class Action After Damning Research Report Calls US Listing Plan ‘Fake’
(CN) – Investors claim in a class action that Toronto-based e-commerce cannabis company Namaste Technologies misled shareholders about the sale
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9th Circuit Upholds SEC Summary Judgment Against Convicted Heart Tronics Fraudster
The 9th Circuit sided with the Securities Exchange Commission in an action against Heart Tronics Inc. and attorney Mitchell Stein, who fraudulently inflated the company’s stock price while working as its outside counsel.
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Investors Sue After Essendant Spurns Merger in Favor of Staples Deal
Essendant Inc. faces a class action from investors after terminating a merger agreement with Genuine Parts Co. in favour of an offer from Staples.
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Sprint Shareholders Sue for More Info on $59 Billion T-Mobile Deal
(CN) – Shareholders claim in a class action that the acquisition of Sprint by rival T-Mobile for an estimated $59
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Skechers USA Growth Was ‘Illusory’ and ‘Not Sustainable,’ Class Claims
(CN) – Investors claim in a class action that Skechers USA’s stock price was artificially inflated for the personal gain
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Class Claims ‘Rosy Statements’ Preceded Massive Philip Morris Stock Price Drop
(CN) – Philip Morris executives sold off millions of dollars stock while withholding information about the company’s stagnant sales, investors
Read moreFifth Circuit Mulls Whole Foods Overpricing Claims
Whole Foods Market investors urged the Fifth Circuit on Thursday to revive their securities fraud class action accusing the grocer of inflating its share price by counting revenue from mislabeled and overpriced products.
Read moreHotel Heist
Two months after accusing Sahara US of breaching a contract to sell it majority shares in The Plaza on Fifth Avenue and the The Dream Hotel Downtown, United Capital Real Estate Development Corp. wants a restraining order to keep Q Hotel New York from swooping in on the deal.
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Shareholders Sue Nevro Amid Patent Infringement Claims by Boston Scientific
(CN) – Medical device maker Nevro Corp. faces a shareholder class action after the company was allegedly caught stealing trade
Read moreInvestors Lose Fight Over Fannie, Freddie Profits
The Eighth Circuit ruled Thursday that the federal government’s diversion of Fannie Mae and Freddie Mac profits to the U.S. Treasury Department after the 2008 housing collapse did not illegally shortchange shareholders.
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Syntel Shareholders Sue to Block Acquisition by French Firm
(CN) – In an effort to stop the acquisition of IT services provider Syntel Inc. by France’s Atos, investors filed
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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
Read moreRoyal 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.
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 McHenry.
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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