investor lawsuits News

Signature Bank Hit With Investor Suit Over Failure

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 …

Amgen Sued by Pension Fund for Failing to Disclose $10B Tax Bill on Timely Basis

Amgen Inc. misled investors about its financial health by failing to reveal that it may be on the hook for more than $10 billion in back taxes and penalties, a pension fund claimed in a lawsuit. The Internal Revenue Service …

Ex-Allianz Fund Manager Seeks Dismissal of Fraud Charges

The former Allianz SE hedge fund manager charged with fraud over billions of dollars in investor losses asked a judge to throw out the case, claiming lawyers wrongly betrayed him to protect the company. Gregoire Tournant claims in a Monday …

Bored-Ape NFT Investors Are Suing Bieber, Madonna and Other Celebrity Promoters

The creator of the popular Bored Ape Yacht Club collection of NFTs and its promoters, including Madonna, Paris Hilton and Justin Bieber, were sued by investors claiming they were duped into buying the collectibles by celebrities who didn’t disclose they …

Hacker of Crypto Exchange FTX Revealed as One of Biggest Holders of Token Ether

The hacker who raided Sam Bankman-Fried’s collapsed crypto exchange FTX is now one of the world’s biggest holders of the token Ether. A wallet linked with the exploit swapped about $49 million of stablecoins — mainly Dai — for Ether …

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 …

Timeline of Key Events in Collapse of Allianz’s Structured Alpha Funds

Germany’s Allianz has agreed to pay about $6 billion and its U.S. asset management unit will plead guilty to fraud after a group of its multibillion investment funds collapsed amid market turmoil triggered by the coronavirus pandemic in 2020. Here …

Allianz to Pay Over $6B for Structured Alpha Fraud, Former Fund Manager Indicted

Germany’s Allianz SE agreed to pay more than $6 billion and its U.S. asset management unit pleaded guilty to criminal securities fraud over the collapse of a group of investment funds early in the COVID-19 pandemic. Allianz’s settlements with the …

Allianz Sets Aside Another $2 Billion for Structured Alpha Fund Debacle

Germany’s Allianz said on Wednesday it would set aside another 1.9 billion euros ($2 billion) as it braces for the outcome of U.S. regulatory investigations into a multibillion-dollar trading debacle at its funds arm. The collapse of a $15 billion …

Inside Allianz’s $4B Structured Alpha Fund Blowup: Red Flags and Fat Fees

It’s every investor’s dream: Make money when markets go up, and when markets go down, and even when markets go practically nowhere. But inside Allianz SE, where a handful of hedge fund managers claimed they could do just that, few …