Twitter is being sued by a shareholder over claims that it misled investors about its prospects for growth. Doris Shenwick has accused the company of making false statements about the company’s predicted user count and user engagement levels, causing wild fluctuations in Twitter’s stock prices. Shenwick claims Twitter executives misled investors in November 2014 when they promised an increase …
Jonathan Stempel| NEW YORK NEW YORK HSBC Holdings Plc on Thursday won the dismissal of a lawsuit by former Bernard Madoff customers who accused the British bank of fuelling his massive Ponzi scheme by ignoring red flags and encouraging “feeder funds” to invest with him. U.S. District Judge Laura Taylor Swain in Manhattan said a federal law governing securities fraud cases prevented the …
It may not come as a surprise to breakfast consumers that Honey Nut Cheerios — whose box features a gleeful cartoon bee dangling a honey dipper over a bowl like a magic wand — is sugary. A lawsuit filed in federal court in California against General Mills alleges, however, that consumers have been duped into thinking the company’s best-selling cereal brand is health food. The complaint, which …
PNC Financial Services Group will pay at least $24 million to settle class-action claims that a Virginia bank it acquired charged excessive fees and kicked back money to a mortgage broker for customer referrals. The settlement first reported Tuesday by the Pittsburgh Tribune-Review is detailed in documents filed in U.S. District Court, Pittsburgh. It stems from claims filed …
Residents of New Hampshire, 14 other states and the District of Columbia can now file a claim for part of a $52 million dairy anti-trust settlement. The settlement was reached earlier this month in a federal class-action lawsuit alleging that National Milk Producers Federation, through its voluntary farmer-funded national program, Cooperatives Working Together, artificially limited raw milk …
L’Oréal got a bunch of famous African-American women to tout its hair relaxer when it actually causes great harm, and the company even insinuated Michelle Obama into its campaign … so claim some angry customers who have just filed suit. L’Oréal hawks a hair relaxer called SoftSheen-Carson Optimum Amla Legend No-Mix, No-Lye Relaxer, which it claims is healthy and safe because it uses a …
The Illinois Metropolitan Investment Fund ran into trouble a couple years ago when one of the funds they invested in fraudulently squandered the public funds. Initially, the estimate of recovery of funds was believed to be somewhere above 80%, but was later downgraded to 47.6% of the original value of the FFF …
A lawsuit by a Tennessee high school basketball player who was raped and assaulted by teammates claims school officials knew athletes were being abused but did nothing. The victim, identified only as John Doe, was a freshman at Ooltewah High School in December when he was held down by two older players while a third forced a pool cue into his rectum, tearing his bladder. Last week, one of the …
A federal judge has dismissed a lawsuit against the 3M Co. by a man who claims he invented Post-it notes. Alan Amron settled a 1997 lawsuit against 3M but sued again in January. He sought $400 million in damages, claiming the Minnesota company breached its previous agreement not to take credit for the sticky-back paper products.
A district court has dismissed federal claims that Gov. Chris Christie violated the constitutional rights of a nurse detained at a Newark hospital in 2014 over fears she had contracted the Ebola virus. But the judge’s order said the nurse can continue her state claims against Christie over her involuntary detention.