shareholder lawsuits News

Target Must Face Shareholder Lawsuit Over Pride Backlash, Judge Rules

Target has failed to persuade a judge in Florida to dismiss a lawsuit that accused the retailer of deceiving shareholders after its sales of LGBTQ-themed merchandise for Pride Month sparked a backlash and a customer boycott. U.S. District Judge John …

Meta Platforms Defeats Shareholder Lawsuit Over Child Safety Claims

Meta Platforms and Chief Executive Mark Zuckerberg won the dismissal of a lawsuit claiming they misled shareholders in Meta’s proxy statement about their ability to ensure the safety of children who use Facebook and Instagram. In a decision on Tuesday, …

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 …

FTX Investors Settle With Bankman-Fried to Pursue Promoters

A group of FTX investors and customers has agreed to drop their claims against co-founder Sam Bankman-Fried in exchange for his cooperation against other defendants in a sprawling set of lawsuits over the cryptocurrency exchange’s collapse. The agreement, if approved …

Meta Seeks Dismissal of Shareholder Suit Alleging Failure to Address Human Trafficking

Attorneys for Meta Platforms and several of its current and former leaders, including founder Mark Zuckerberg, are asking a Delaware judge to dismiss a shareholder lawsuit alleging the company has deliberately failed to protect users of its social media platforms …

Musk Can’t Escape Investor Suit Over Flip-Flop on Twitter Buyout

Elon Musk must face a Twitter investor lawsuit that accuses him of fueling uncertainty about his proposed buyout in an effort to drive down the social media platform’s stock price, a California federal judge ruled. US District Judge Charles Breyer …

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 …

Appeals Court Won’t Revisit Towers Watson $80M D&O Denial for Willis Merger Lawsuits

A federal appeals court has denied insurance broker Towers Watson a rehearing of a May ruling that found it may not be entitled to $80 million in insurance to cover settlements of shareholder lawsuits related to the merger between Towers …

Fed Report on SVB Collapse Could Buoy Shareholder Lawsuits

A scathing Federal Reserve report on the collapse of Silicon Valley Bank released on Friday could be a boon to shareholders suing the defunct lender’s executives for allegedly hiding risks that led to its stunning downfall, legal experts said. The …

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 …