The NYSE is bracing for a civil lawsuit from the SEC after a botched technology upgrade paralyzed the exchange for about four hours in July 2015. In an announcement on Tuesday, Intercontinental Exchange, the NYSE’s parent company, confirmed that it had received a Wells Notice that states the SEC’s intention to sue. Read more Intercontinental Partners received its Wells Notice on December 29, …
Five different chicken companies face a class action suit from five farmers in as many states claiming that the companies’ systems treated them like indentured servants. Tyson Foods, Pilgrim’s Pride, Perdue Farms, Koch Foods and Sanderson Farms are all accused of fixing compensation for farmers, some of whom are tens of thousands of dollars in debt, according to the Associated Press. While the …
“With this ruling, along with other judgments against various other defendants, LG has successfully slammed shut a sizable portion of counterfeits and knockoffs” sold in the US, it said in a statement. In 2016 (PDF), LG claimed that shoppers were being “duped” by knockoff headsets and also said it was going after liquidators for selling damaged units as new. Litigation measures against the …
An Oklahoma man has filed a class action lawsuit against Samsung Electronics, stating that the company’s home washing machines are dangerously defective. In some cases, they have been reported to actually “explode,” forcing the lids off and potentially injuring consumers. The plaintiff filed the case on January 13, 2017, in the U.S. District Court for the Western District of Oklahoma, seeking …
Two women have been awarded $11.5 million in a federal lawsuit. One of the women sat down with Fox 9. On Friday, a jury in Madison, Wisconsin, found that both former Polk County jailer Darryl Christensen and Polk County were responsible for sexual assaults of two inmates. Former inmate Melinda Juleen said the assaults happened 50-75 times while she was in jail. …
A former longtime Mead Johnson employee alleges the Glenview-based company fired her for raising safety concerns, including not telling consumers about potentially spoiled baby formula. Linda O’Risky, who spent more than 25 years at Mead Johnson, claims in a lawsuit filed today that the company attempted to “whitewash and downplay” the issue related to its popular ready-to-use infant formula. …
An unhappy customer has filed a class action lawsuit against an international snack company over allegations that it shortchanged her with the amount of product in its candy packaging. Tamika Daniel of Brooklyn, New York, has accused Mondelez International of fraud and negligent misrepresentation. Daniel alleges the company has been selling products with too …
Assuming the Department of Labor’s fiduciary rule survives the river of legal and legislative challenges, the brokerage industry should expect to absorb between $70 million and $150 million annually in class-action litigation costs. The price-tag range, calculated by Morningstar senior equity analyst Michael Wong, is on top of the $1.5 billion annual cost to the industry, as estimated by the …
Ethics watchdogs who have long warned of the potential conflicts posed by the Trump family’s business interests were quick to cry foul on Wednesday. Importantly, they also saw it as a potential new opening to take Trump to court. Currently, the most high-profile legal challenge to Donald Trump’s business empire concerns what is known as the Emoluments Clause in the U.S. Constitution, which bars …
Fountain Creek and its tributaries were degraded, eroded and widened, and those waters combined with surface runoff to create excessive sedimentation and substandard water quality, audits by the Environmental Protection Agency found in 2013 and 2015. The city’s failures since 2009 violated its federal storm sewer system permit, the EPA reported, with the Department of Justice filing the lawsuit …