Recently, the City of Philadelphia initiated a class action lawsuit in Illinois federal court against a number of world financial institutions, claimed they violated federal antitrust law in colluding to prevent the purchase and sale of interest rate swaps (IRS). The lawsuit, filed May 23, claims Bank of America Corp, J.P. Morgan Chase & Co., Merrill Lynch, Goldman Sachs and a host of …
Labaton Sucharow LLP (“Labaton Sucharow”) filed a securities class action lawsuit on June 20, 2016 on behalf of its client Boston Retirement System (“BRS”) against Volkswagen AG, its wholly owned subsidiary Volkswagen Group of America, Inc., its further subsidiary Volkswagen Group of America Finance, Inc. (together, “Volkswagen”), and certain senior …
Soitec (Euronext), a world leader in manufacturing semiconductor materials for the electronics industry, today announced that on May 18, 2016, Silicon Genesis Corporation (SiGen) filed a motion to terminate the investigation by the U.S. …
Rich Williams continues tidying up at Groupon, selling off some of the bits and pieces collected over the years that the company no longer wants or can afford. Groupon sold Breadcrumb, a point-of-sale checkout system for restaurants that uses iPads, to Upserve, a Providence, R.I.-based company that makes software used by restaurants to manage operations. In the past year, Chicago-based Groupon …
Lumber Liquidators reported a wider-than-expected first-quarter loss and sales declined for a fifth straight quarter as the Toano-based flooring company spends heavily to put behind it damaging reports on potentially dangerous products imported from China. The company will contribute $26 million and a million of its shares to a settlement fund to resolve a related class action. That follows an …
The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of Ohio on behalf of purchasers of HCP, Inc. (NYSE:HCP) (HCP or the …
A proposed class action against LendingClub Corporation is credit negative for asset-backed securities (ABS) backed by consumer loans originated through online platforms using a partner bank origination model, Moody’s Investors Service says in a new report. The lawsuit confirms that the owners of such loans face legal challenges over whether the loans are exempt from …
Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of all persons or entities who acquired Intrexon Corporation (XON) securities between May 12, 2015 and April 20, 2016 (the “Class Period”). According to the lawsuit, Intrexon issued false and misleading …
Hagens Berman Sobol Shapiro LLP, a national investor-rights law firm, reminds Alere Inc. (NYSE:ALR) that June 20, 2016 is the lead plaintiff deadline in the securities class action lawsuit concerning Alere’s apparent improper revenue recognition in violation of GAAP. Hagens Berman is expanding its investigation in light of recent news that Abbot …
Melbourne law firm Slater and Gordon has announced it is considering undertaking a class action suit against dairy processor Murray Goulburn after the co-op significantly cut its profit expectations. Murray Goulburn had initially …