investor lawsuit News

Investors Sue Lyft, Alleging IPO ‘Overhyped’

Lyft Inc. was sued by investors who claim the ride-sharing company overstated its market position when it went public last month, leading to a dramatic plunge in its stock price. Two separate class-action complaints against Lyft, as well as its …

More Compensation Disclosure Doesn’t Settle Goldman Investor’s Claim

A bid by Goldman Sachs Group Inc. to settle a lawsuit over how much it pays directors was rejected by a judge who said that simply making changes in corporate governance didn’t provide enough benefit to the firm. The investment …

First Facebook Investor Suit Filed Over Plunge in Shares

Facebook Inc. and its chief executive Mark Zuckerberg were sued on Friday in what could be the first of many lawsuits over a disappointing earnings announcement by the social media company that wiped out about $120 billion of shareholder wealth. …

Investor Lawsuit Against SeaWorld Dismissed

A judge in southern California has dismissed a securities fraud lawsuit brought by investors in SeaWorld Entertainment, Inc. who claimed company officials misled them about the impact of the documentary “Blackfish” on the company’s financial performance and attendance at its …

Shareholders Sue Trinity Over Guardrail Safety Disclosure

Trinity Industries Inc. was sued by shareholders alleging the company failed to disclose it made changes to its guardrail safety system without government review. At least two lawsuits were filed in federal court in Dallas accusing the company of making …

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. …

Investors Suing Bank of America Win Class-Action Status

Investors suing Bank of America Corp. won class-action status for their lawsuit accusing the bank of fraudulently misleading them about the 2008 takeover of Merrill Lynch & Co. and the size of Merrill’s losses and bonus payouts. U.S. District Judge …

JPMorgan, BofA Sued Over Mortgage Debt Losses

JPMorgan Chase & Co. and Bank of America Corp. were hit with new lawsuits by investors claiming losses on $4.5 billion of soured mortgage debt, adding to litigation targeting the two largest U.S. banks. The plaintiff Sealink Funding Ltd. said …

Failed Alabama Bank Executives Settle Investor Lawsuit for $10.5M

Officers and directors of failed Colonial BancGroup in Alabama, including Auburn University trustee Bobby Lowder and former Auburn football coach Pat Dye, have agreed to pay investors $10.5 million to settle a class-action suit. Terms of the proposed settlement were …

Investors Accuse Bank of America’s Countrywide of Massive Fraud

Bank of America Corp.’s Countrywide mortgage unit has been sued by investors claiming they were victimized in a ‘massive fraud” when they bought mortgage-backed securities. The lawsuit was filed on Monday in a New York state court by 12 plaintiffs …