shareholder lawsuits News

Judge Dismisses Shareholder Lawsuit Against Danske Bank and Officers

A U.S. judge on Monday dismissed a lawsuit accusing Denmark’s Danske Bank A/S and four former top executives of defrauding shareholders by hiding and failing to stop widespread money laundering at its former Estonian branch. U.S. District Judge Valerie Caproni …

Tesla Pays CEO Musk Nearly $1M for Controversial D&O Insurance Arrangement

Tesla Inc. is making a one-time payment of almost $1 million to Chief Executive Officer Elon Musk related to a controversial insurance arrangement he agreed to with the carmaker’s board earlier this year. The company is backtracking from plans to …

Willis Towers Watson Faces Shareholder Lawsuits in U.S. Over Sale to Aon

There have been at least three shareholder lawsuits filed over the mega-deal that would have insurance broker Aon acquire rival Willis Towers Watson. The suits allege that Willis and its directors breached their fiduciary duties under U.S. securities laws by …

CEO Musk Replaces Tesla’s D&O Policy with ‘Personal Coverage’

Tesla founder and CEO Elon Musk is getting into the insurance business again, sort of. Musk has cancelled his company’s directors and officers insurance (D&O), replacing it with a promise to personally provide his board members with “equivalent” coverage to …

Canada’s Manulife Seeks Dismissal of Court Case Filed by Hedge Fund

Canadian insurer Manulife Financial Corp said on Tuesday it would ask a court in Saskatchewan to dismiss claims made against it by a hedge fund after the province changed its rules to limit how much an investor can put into …

Canada’s Manulife Faces Investor Backlash over Failure to Disclose Ongoing Court Case

Canada’s biggest life insurer is under pressure from shareholders to explain why it failed to disclose details of an ongoing court case which came to light after a short-seller released a report detailing the litigation. The stock has dropped 11.5 …

Tesla CEO Musk Just Made It Easier for Shareholders to Sue: Viewpoint

On Monday morning, six days after Tesla CEO Elon Musk tweeted that he was thinking about taking the company private at $420 a share, with “funding secured” for the transaction, Tesla published a blog post in which Musk clarified his …

Trump’s SEC Considering Shielding Companies from Investor Class Action Suits

In its determination to reverse a two-decade slump in U.S. stock listings, a regulator might offer companies an extreme incentive to go public: the ability to bar aggrieved shareholders from suing. The Securities and Exchange Commission in its long history …

iStar Financial Settles Shareholder Lawsuit for $29 Million

The New York finance company iStar Financial Inc. has reached a $29 million settlement of a lawsuit accusing it of concealing the impact of deteriorating credit market conditions from investors who participated in a 2007 stock offering. About $27 million …

Goldman Execs Win Dismissal of Mortgage, TARP Lawsuit by Shareholders

Goldman Sachs Group Inc. Chief Executive Lloyd Blankfein and other bank officials won the dismissal of a shareholder lawsuit accusing them of tolerating poor mortgage practices and quitting a federal bailout program early to boost executive pay. U.S. District Judge …