shareholder lawsuit News

Wisconsin Biotech Firm, Promega, Files Counterclaim Suit Against Shareholders

Promega Corp. and its founder are firing back at shareholders who sued the Wisconsin biotechnology company in 2016 for shareholder oppression. The lawsuit filed by shareholders Nathan Brand and Ted Kellner alleges that company founder Bill Linton bullied shareholders in …

Wells Fargo C-Suite Must Face Shareholder Lawsuit Over Fake Accounts: Judge

A federal judge said current and former Wells Fargo & Co. officers and directors, including Chief Executive Officer Tim Sloan, must face nearly all of a lawsuit by shareholders seeking to hold them personally liable for sales abuses and the …

Delaware Judge Weighs D&O Insurer’s Obligation in Oracle Settlement

Attorneys for Oracle Corp. are asking a Delaware judge to order an insurer to pay $20 million to cover attorney fees related to the proposed settlement of a shareholder lawsuit. The lawsuit challenged Oracle’s 2011 acquisition of Pillar Data Systems, …

Apple CEO Cook Calls Lawsuit ‘Silly Sideshow’

Apple CEO Tim Cook calls a shareholder lawsuit against the company a “silly sideshow” but says he is open to looking at the shareholder’s proposals for sharing more cash with investors. Last week, investor David Einhorn sued Apple Inc., saying …

Shareholder Lawsuit Filed Against Duke Energy

A shareholder lawsuit is using sworn testimony by Duke Energy Corp. executives and directors to support claims that investors were misled by a surprise shuffle of top executives. Duke Energy spokesman Dave Scanzoni said the country’s largest electricity company views …

Shareholders Sue Diamond Foods Board Over Financial Problems

The board of Diamond Foods Inc. failed to properly oversee the snack food company, damaging its reputation and costing it the chance to buy rival Pringles, according to a shareholder lawsuit filed on Wednesday. Diamond Foods has been embroiled in …

Judge Denies Delay of BofA Directors’ $20 Million Settlement Over Merrill

A U.S. federal judge in New York on Monday refused to delay the approval process for a controversial $20 million settlement between Bank of America Corp. directors and shareholders who accused the bank of overpaying for Merrill Lynch & Co. …

Shareholders Sue Murdoch’s News Corp.

A group of News Corp. shareholders have sued the media conglomerate over a phone-hacking scandal at its now-closed News of the World tabloid in London. The lawsuit accuses News Corp. of large-scale governance failures surrounding the British hacking case. News …

Supreme Court Rules in Halliburton Case

Halliburton Co. suffered a legal setback Monday when the U.S. Supreme Court refused to make it harder for shareholders to proceed with some class-action securities-fraud lawsuits against publicly traded companies. The justices unanimously ruled that a U.S. appeals court erred …