October 4, 2023
Elon Musk was ordered by a U.S. judge to face most of a lawsuit claiming he defrauded former Twitter shareholders last year by waiting too long to disclose that he had invested in the social media company, which he later …
May 16, 2023
Wells Fargo & Co. agreed to pay $1 billion to settle a shareholder lawsuit that accused it of making misleading statements about its compliance with federal consent orders following the 2016 scandal involving the opening of unauthorized customer accounts. The …
April 25, 2023
First Republic Bank has been sued by shareholders who accused the beleaguered U.S. regional bank of concealing how rising interest rates threatened its business model by prompting an exodus of deposits. The lawsuit filed late Monday in San Francisco federal …
March 15, 2023
Signature Bank was hit with its first investor suit since the bank went into receivership Sunday, accused of making misleading statements about its financial health and risks. Matthew Schaeffer said he bought call options and was “economically damaged” by the …
November 8, 2022
A U.S. judge on Monday said British billionaire entrepreneur Richard Branson must face shareholder claims he concealed problems in Virgin Galactic Holdings Inc’s spaceship program, and sold hundreds of millions of dollars of stock at inflated prices. While dismissing most …
May 23, 2022
Following a trend in directors and officers litigation involving cybersecurity firms, Okta Inc. now faces a securities class action lawsuit alleging the firm made false and misleading statements, including that it did not disclose and then downplayed the severity of …
March 22, 2022
The Delaware Supreme Court has ruled that solar panel manufacturer First Solar, which faced two securities class actions, is not entitled to have its insurance policies cover both because the later-issued of its policies excluded coverage for related actions. The …
August 2, 2021
Plaintiffs filed 112 new securities class action lawsuits in federal and state courts in the first half of 2021, down 25% from the second half of 2020. This was the lowest number of filings since the first half of 2015, …
April 8, 2021
In a year of a decline in overall securities class action filing activity, the number of securities class action filings involving accounting allegations increased in 2020 for the third consecutive year. According to a report by Cornerstone Research, accounting allegations …
April 7, 2020
Investors have brought class action lawsuits in federal court against seven cryptocurrency issuers and four exchanges, claiming they sold billions of dollars in unregistered assets in violation of U.S. securities laws. The 11 lawsuits, filed on Friday in U.S. District …