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Class-Actions Aug 19, 2016

Hach Rose Schirripa & Cheverie, LLP Initiate Consumer Class Action Against Belle Tire Distributors, Inc. D/B/A Belle Tire for Violations of the Consumer Protection Act and the Motor Vehicle Service & Repair Act

Hach Rose Schirripa & Cheverie, LLP filed a consumer class action lawsuit against Belle Tire Distributors, Inc. d/b/a Belle Tire and certain related entities in Michigan State Circuit Court, Wayne County (No. 16-009952-CZ) on behalf all persons who were induced to purchase and replace undamaged tires at Belle Tire service locations during the …

Legal News Aug 17, 2016

Class Action Alleging Law School Fraud Shot Down by Appeals Court

A federal appeals court has dealt the latest blow to a lawsuit alleging law school students were defrauded with misleading employment statistics. The Third U.S. Circuit Court of Appeals on Tuesday upheld a lower-court’s ruling that Widener University School of Law graduates don’t have enough in common to sue the school through a class action.

Legal News Aug 17, 2016

Seventh Circuit Brands Disclosure-Only Settlement a “Racket” and Endorses Delaware Court of Chancery’s Stricter Standard for Approval of Disclosure-Only Settlements

In a 2-1 decision, the Seventh Circuit has joined the Delaware Court of Chancery’s call for enhanced scrutiny of “disclosure-only” M&A settlements that involve no monetary benefits to shareholders. As previously discussed here, M&A litigation, typically alleging breach of fiduciary duty by directors and insufficient disclosures, often ends in settlement, with defendants agreeing to provide …

Notices Aug 17, 2016

INVESTOR NOTICE: Goldberg Law PC Announces Securities Class Action Lawsuit Against SunPower Corporation and Encourages Investors With Losses to Contact the Firm

Goldberg Law PC (the “Firm”) announces that a class action lawsuit has been filed against SunPower Corporation (“SunPower” or the “Company”) (Nasdaq: SPWR). Investors who purchased or otherwise acquired shares between February 17, 2016 and August 9, 2016 inclusive (the “Class Period”) are encouraged to contact the Firm in advance of the October 17, 2016 lead …

Securities Aug 16, 2016

State Street Sees Double Whammy of Op Risk Losses

Megan van Ooyen is a senior associate business operations specialist in the OpRisk Global Data group at SAS in North Carolina It’s been two years since the peak of the regulatory fallout from residential mortgage-backed securities. Since then, regulatory fines and settlements, which tend to result in the largest operational risk losses for financial services firms, have largely settled down. …

Lawsuits Aug 16, 2016

Judge Rules No Class Action Against Chesapeake in PA Royalty Case

A landowner couple in Bradford County, PA, Edward and Kathleen Ostroski, filed a royalty lawsuit against Chesapeake Energy claiming Chesapeake was screwing them out of money by conducting “creative” accounting and deducting expenses that shouldn’t be deducted. Seems like there’s hardly a state where Chessy drills where someone …