shareholder lawsuits News

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 …

Facebook, Banks Want Shareholder Lawsuits in New York Court

Facebook Inc. and its lead underwriters Morgan Stanley, Goldman Sachs Group Inc. and JPMorgan Chase & Co. have requested that shareholder lawsuits over its $16 billion initial public offering be grouped together in Manhattan federal court. In court papers filed …

Wall Street Fights Back vs. Expert Witness in Lawsuits

For years, Craig McCann played a prominent role as a top expert witness, his testimony helping to win millions of dollars for investors who sued financial companies. As those victories piled up, brokerages went to war on his credentials, and …

Court Dismisses U.S. Suit Against BP Executives, Directs Investors to File in UK

Current and former BP executives and directors won dismissal last week of one of several U.S.-shareholder lawsuits filed over last year’s Gulf of Mexico oil spill. A federal court in Houston on Sept. 15 said it was more appropriate that …

Shareolders Using ‘Say-on-Pay’ Votes in Lawsuits Against Boards

Shareholders upset with ever-higher executive compensation packages are using new “say-on-pay” votes to challenge the payouts in court, a tactic raising eyebrows among legal experts. The lawsuits are zeroing in on companies that lose these advisory votes by shareholders on …

MBIA Shareholder Lawsuit Revived by Federal Appeals Court

A federal appeals court on Monday gave new life to a shareholder lawsuit accusing MBIA Inc of securities fraud over a reinsurance transaction that caused the bond insurer to restate six years of results. The 2nd U.S. Circuit Court of …

New Business Court Judge Rattles Lawyers in Shareholder Suits

Lawyers involved in corporate litigation understandably might want to avoid the newest judge on one of the top U.S. business courts. The judge, Vice Chancellor Travis Laster, has brought some unusual tactics to the bench at Delaware’s Chancery Court, whose …

Firms Can Avoid Shareholder Lawsuits with Kid Behavior

When companies are looking at bad earnings news, a new study from the University of Iowa suggests it’s best for executives to remember what they learned as kids. “If a child does something wrong and tells his mother about it, …