This includes a $690 million charge made during the first quarter of 2019 related to outstanding litigation and potential fines related to its 2017 cybersecurity incident. The funds will be dedicated to covering legal action brought by federal and state regulators and federal class action cases, said Mark W. Begor, Equifax’s CEO, during an earnings call made last week. Berger also told …
A consumer seeking to lead a £14 billion ($17.2 billion) antitrust suit against MasterCard Inc. over swipe fees has moved to appeal a U.K. competition court’s decision that the case couldn’t proceed as a collective action, the claimant’s law firm confirmed Monday.
Courtesy of Apple, most of its chipmaker or designers seem to be having a rough start in 2017. One of these names will have to be the leading American chipmaker, Qualcomm, who Cupertino is presently embroiled in an ongoing patent royalties payment battle with. For those unaware, Apple first took a stand against the chipmaker and lodged a billion lawsuit against them for being charged unfairly …
Bondholders filed to sue Puerto Rico on Tuesday in the first legal challenges to hit the U.S. territory after a freeze on litigation that protected it from lawsuits expired amid a deep economic crisis. A group representing those who bought a portion of the $16 billion worth of bonds backed by Puerto Rico’s sales tax said in its lawsuit that a government plan to cut …
Uber Technologies Inc. was considering buying the driverless-car startup of a former Google engineer two days after he resigned from the tech giant, and was already anticipating a lawsuit if it did, attorneys for Google parent Alphabet Inc. GOOG, +0.07%GOOGL, +0.08% said in federal court here Wednesday. The new evidence appears to affirm allegations by Google’s driverless-car …
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,” …
A Manhattan federal jury has been robbed of its chance to decide whether the collapse of financial firm MF Global was the fault of its CEO Jon Corzine or his accounting firm. MF Global, which was seeking to pin the blame for the firm’s stunning 2011 demise on PriceWaterHouseCoopers, settled the case mid-trial, sources said. The parties reached an agreement on Wednesday and notified the judge …
The number of securities class action settlements approved by U.S. courts in 2016 was 85, the highest level since 2010, according to a report issued Wednesday by Boston-based Cornerstone Research. Total settlement dollars approved in 2016 was $5.99 billion, or almost double 2015’s $3.07 billion, according to the report, “Securities Class Action Settlements – 2016 Review and Analysis.” A total …
U.S. courts approved more securities class-action settlements in 2016 than in any year since 2010, according to a report from Cornerstone Research. The 85 settlements reached last year were just five more than the previous year. However, the aggregate dollar amount in the cases, just under $6 billion, was nearly double the 2015 total and the second-most in the past decade.
An international group of 75 pension funds and other institutional investors filed a Supreme Court amicus brief Tuesday seeking to restore a legal precedent on how much time investors have to join or opt out of class-action lawsuits. The investors, who together represent $4 trillion in assets, are backing an appeal to the Supreme Court brought by the $311 billion California Public Employees’ …