Articles by Jody Godoy

Wells Fargo to Pay $300M to Settle Suit Over Auto Insurance Disclosures

Wells Fargo & Co. agreed to pay $300 million to settle a shareholder lawsuit claiming the bank hid that it had pushed unnecessary insurance on auto loan customers, according to documents filed in U.S. court on Tuesday. The Construction Laborers …

Tesla’s Elon Musk Found Not Liable in Trial Over 2018 ‘Funding Secured’ Tweets

A U.S. jury on Friday found Tesla Inc. CEO Elon Musk and his company were not liable for misleading investors when Musk tweeted in 2018 that he had “funding secured” to take the electric car company private. Plaintiffs had claimed …

Securities Fraud Trial Over Elon Musk’s 2018 Tweets Draws to a Close

A lawyer for Tesla Inc. shareholders who claim Elon Musk deceived them when he tweeted that he had secured funding to take his electric car company private is expected to make closing arguments to a San Francisco jury on Friday. …

Tesla, Musk Face Trial in Shareholder Case Over 2018 Tweets

Elon Musk and Tesla Inc. are set to go to trial in San Francisco on Tuesday in a case where the company’s shareholders claim they were defrauded by Musk’s 2018 statement that funding was “secured” to take the electric car …

Elizabeth Holmes Sentenced to More Than 11 Years in Prison for Theranos Fraud

A federal judge on Friday sentenced Theranos founder Elizabeth Holmes to 11 years and three months in prison for defrauding investors in her now-defunct blood-testing startup that was once valued at $9 billion. In San Jose, California, U.S. District Judge …

‘Wave’ of Lawsuits Over FTX Expected, but Investors Will Face Legal Hurdles

A lawsuit by FTX account holders in the United States is likely the first of many that will be brought over billions of dollars in losses on the cryptocurrency exchange, though the cases will face obstacles including proving that U.S. …

FTX’s Bankman-Fried, Celebrity Promoters Sued by Crypto Investors

U.S. crypto investors sued FTX founder Sam Bankman-Fried and several celebrities who promoted his exchange including comedian Larry David, alleging they engaged in deceptive practices to sell FTX yield-bearing digital currency accounts. The proposed class action filed late Tuesday night …

SEC Considering Action Against SolarWinds Over Cyber Disclosures

The U.S. Securities and Exchange Commission has recommended an enforcement action against SolarWinds Corp over its public statements on cybersecurity and procedures governing such disclosures, the software firm said on Thursday. The Austin, Texas-based company also said in a filing …

CBS, Former CEO to Pay $9.75M to Settle New York Probe of Handling of Misconduct

CBS Corp. and former Chief Executive Leslie Moonves agreed on Wednesday to pay investors an additional $9.75 million to settle the New York attorney general’sallegations that the company sought to cover up sexual assault claims against Moonves, including by colluding …

New York Trial Begins in Bond Insurer Case Over Mortgage-Backed Securities

Bond insurer Ambac Financial Group Inc. cannot prove its $2.7 billion case against Bank of America over troubled mortgage-backed securities on evidence that BofA was a “bad actor” before the 2008 financial crisis, an attorney for the bank said on …