securities class actions News

US Supreme Court Tosses Case Involving Securities Fraud Suit Against Nvidia

The U.S. Supreme Court sidestepped on Wednesday a decision on whether to allow shareholders to proceed with a securities fraud lawsuit accusing artificial intelligence chipmaker Nvidia of misleading investors about how much of its sales depended on the volatile cryptocurrency …

Meta Must Face Investor Suit After Supreme Court Drops Case

The US Supreme Court dismissed an appeal by Meta Platforms Inc., leaving it to face a lawsuit that accuses the company of misleading shareholders about the data-harvesting scandal involving political consulting firm Cambridge Analytica. Investors claim the company, then known …

US Supreme Court to Hear Facebook Bid to Escape Securities Fraud Suit

The U.S. Supreme Court is set on Wednesday to consider a bid by Meta’s Facebook to scuttle a federal securities fraud lawsuit brought by shareholders who accused the social media platform of misleading them about the misuse of its user …

Facebook, Nvidia Ask Supreme Court to Spare Them From Securities Fraud Suits

The U.S. Supreme Court is set to consider bids by two tech giants – Meta’s Facebook and Nvidia – to fend off federal securities fraud lawsuits in separate cases that could make it harder for private litigants to hold companies …

US Supreme Court to Hear Facebook Bid to Scuttle Shareholder Lawsuit

The U.S. Supreme Court agreed on Monday to hear a bid by Meta’s Facebook to scuttle a private securities fraud lawsuit accusing the social media platform of misleading investors in 2017 and 2018 about the misuse of its user data …

Elon Musk Must Face Fraud Lawsuit for Disclosing Twitter Stake Late

Elon Musk was ordered by a U.S. judge to face most of a lawsuit claiming he defrauded former Twitter shareholders last year by waiting too long to disclose that he had invested in the social media company, which he later …

Wells Fargo to Pay $1 Billion in Class-Action Lawsuit

Wells Fargo & Co. agreed to pay $1 billion to settle a shareholder lawsuit that accused it of making misleading statements about its compliance with federal consent orders following the 2016 scandal involving the opening of unauthorized customer accounts. The …

First Republic, KPMG Are Sued for Concealing Bank’s Risks

First Republic Bank has been sued by shareholders who accused the beleaguered U.S. regional bank of concealing how rising interest rates threatened its business model by prompting an exodus of deposits. The lawsuit filed late Monday in San Francisco federal …

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 …

Richard Branson Must Face Lawsuit in U.S. Over Virgin Galactic Space Travel Problems

A U.S. judge on Monday said British billionaire entrepreneur Richard Branson must face shareholder claims he concealed problems in Virgin Galactic Holdings Inc’s spaceship program, and sold hundreds of millions of dollars of stock at inflated prices. While dismissing most …