Principal Financial Group Inc. accused the managers of Liongate Capital Management LLP of hiding investments with Bernie Madoff while negotiating to sell half of their London hedge fund to Principal. Founders Randall Dillard and Jeff Holland, and Head of Research Benjamin Funk sold the stake in March 2013 without disclosing secret investments in the largest of several Madoff “feeder funds,” …
Gina Miller, who brought the lawsuit that forced U.K. Prime Minister Theresa May to get parliamentary approval for her Brexit plans, may file another legal challenge — this time over May’s bid to take control over thousands of European Union laws. The investment manager said Thursday that she would …
San Francisco company Modern Appeals Clothing says Ivanka’s company, Ivanka Trump Marks, has an “unfair advantage” due to her White House connections. It calls for restraining orders to prevent the brand from competing unfairly in California. “President Donald J. Trump and his individual and White House employees and agents have, since the election, promoted defendant Ivanka Trump’s brand by …
A consumer recently filed a class action lawsuit against Grubhub for alleged violations of telephone harassment statutes. Victoria Flores filed the lawsuit on March 27 in Cook County Circuit Court alleging the food delivery service sent several unsolicited text messages to her. According to the complaint, the plaintiff alleges she, in February 2016, received several automated text …
Heads I win, tails you lose… and then you lose some more. That seems to be the story surrounding Bill Ackman’s disastrous near $4 billion loss in Valeant Pharmaceuticals. Ackman’s pharmaceutical foray is mostly over after his hedge fund Pershing Square dumped all of its Valeant shares in mid-March at $11 apiece, or an over 90% loss, cementing one of Wall Street’s biggest-ever investment …
A federal judge has granted the University of North Carolina at Chapel Hill’s request to dismiss the school from a lawsuit filed by two former Tar Heels athletes tied to its multiyear academic scandal. In a Wednesday ruling, U.S. District Court Judge Loretta C. Biggs stated the school had 11th Amendment immunity as an arm of the state that prevented it from being sued in federal court. The …
A trial is underway in San Diego involving a lawsuit against Petco after a boy died from a disease contracted from a pet rat bought at Petco. 10-year-old Aiden Pankey died in 2013 from rat bite fever two weeks after his pet rat bit him. In opening statements, attorneys for the Pankey family said they were sold a diseased rat by Petco that should have …
A lawsuit alleging Costco illegally charged New Jersey residents sales tax for toilet paper has been dismissed by a U.S. District Court judge. Robert Arnold of Leonia filed suit after claiming the wholesaler charged him and his wife 7 percent sales tax on toilet paper twice in 2015 – once at the Wayne store and another time at the Hackensack store, which has since moved to Teterboro. …
Lawyers representing the sinking San Francisco Millennium Tower homeowners’ association announced a lawsuit against the developer and builders Wednesday. The lawsuit names the developer, Millennium Partners, along with the Transbay Joint Powers Authority (TJPA), the regional agency overseeing the building of the adjacent Transbay Transit Center. The suit also names the …
Seattle is suing President Donald Trump over his executive order that threatens to withhold federal funds from communities that refuse to cooperate with efforts to find and deport immigrants in the country illegally. Mayor Ed Murray said Wednesday the executive order issued in January punishing “sanctuary cities” is unconstitutional. “This week, U.S. Attorney General Jeff Sessions told …