investor lawsuits News

Delaware Bill Would Limit Investor Lawsuits as Companies Consider Exiting State

Delaware lawmakers on Monday proposed changes to the U.S. state’s widely used corporate law that would limit shareholder lawsuits after several high-profile companies said they might move their legal home to another state. The bill sets out steps that corporate …

Ex-Allianz Fund Manager Avoids Jail Over $3 Billion Collapse

A former Allianz SE hedge-fund manager avoided prison and will instead spend 18 months in home confinement for fraudulently inflating the value of funds that ultimately collapsed, resulting in $3.2 billion in investor losses. Gregoire Tournant, the former chief investment …

Dish Network in Talks With Investors to Settle Lawsuit

Dish Network Corp., the ailing satellite-TV provider with more than $20 billion in debt, is in talks with a group of creditors to resolve a lawsuit tied to a controversial transfer of assets. A meeting between the company and investors …

Musk Accused of $7.5 Billion of Insider Trades in Investor Suit

Elon Musk had inside knowledge of a miss on production and delivery numbers that Tesla Inc. was facing when he sold more than $7.5 billion in stock in 2022, a shareholder in the electric vehicle maker claimed in a lawsuit. …

Standard Chartered Faces £1.5 Billion UK Claim in Iran Sanction Case

Standard Chartered Plc is facing about £1.5 billion ($1.9 billion) worth of investor claims at a London trial over allegations it systematically breached Iranian sanctions to win new business. A London judge ruled on Friday [April 19] that the trial, …

FTX Investors Sue Sullivan & Cromwell, Say Law Firm Aided Fraud

FTX investors sued Sullivan & Cromwell, accusing the law firm of aiding illicit schemes that helped advance a multi-billion dollar fraud before the crypto exchange’s collapse. Sullivan & Cromwell’s services “went well beyond those a law firm should and ordinarily …

FTX Investors Shift Focus to Celebrity Endorsers After SBF Conviction

Sam Bankman-Fried’s criminal fraud conviction came just as the FTX implosion was approaching its first anniversary. But for others who helped promote the cryptocurrency exchange, the legal fallout will continue for years. Attention now turns to a sweeping class-action suit …

Adidas Sued by Investors Over Broken Ye Partnership

Adidas AG was sued by investors who claim the German sports giant knew about risks of its partnership with the rapper known as Ye long before his anti-Semitic comments were made public. Adidas in October cut ties with Ye, formerly …

Paramount Directors Agree to $168 Million Settlement Over Merger

Paramount Global directors agreed to a $167.5 million settlement of investors’ lawsuits over the controversial 2019 merger of CBS Corp. and Viacom Inc. that created the entertainment company, according to a securities filing The settlement with CBS investors was reached …

KPMG, Goldman Sachs Faulted in Investor Suit Over SVB Failure

KPMG LLP was sued as Silicon Valley Bank’s auditor, along with underwriters including Goldman Sachs Group Inc., Bank of America Corp. and Morgan Stanley & Co. in an investor lawsuit based on alleged misstatements leading to the bank’s collapse. Similar …