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Class-Actions Aug 7, 2019

Israeli Pension Fund Manager Leads Class Action Against Teva Pharmaceuticals Over Price-Hike and Opioid Scandals

(CN) – Joining a long list of complainants against pharmaceutical giant Teva Pharmaceuticals and similar drug makers, Israel’s largest pension fund manager claims in a class action that Teva colluded with competitors to exorbitantly raise the price of generic drugs over the past five years. Teva had no choice but to quit the price-hike scheme when the public became aware of the investigations. …

Settlements May 1, 2017

Theranos Settles Lawsuit With Partner Fund

Theranos Inc. settled a lawsuit alleging the company and its founder, Elizabeth Holmes, defrauded a San Francisco hedge fund into making a $96.1 million investment through “a series of lies,” the company said Monday. Neither Theranos nor the hedge fund that filed the suit, Partner Fund Management LP, disclosed the terms of the settlement. Partner Fund had said it sought to recoup its entire …

Notices May 1, 2017

Robbins Geller Rudman & Dowd LLP Files Class Action Suit on Behalf of Purchasers of Shares of Catalyst Hedged Futures Strategy Fund

The complaint charges the registrant for the Fund, certain of the Fund’s executive officers and/or trustees, the investment advisor to the Fund, Catalyst Capital Advisors, LLC (“Catalyst Advisors”), and the underwriter for the ongoing offering of Fund shares with violations of the Securities Act of 1933. The Fund is a mutual fund that invests primarily in long and short call and put options on …

Class-Actions, Securities Apr 25, 2017

JPMorgan Stable Value Fund Lawsuit Gets Class Treatment

Thousands of workers who invested their retirement savings in JPMorgan’s stable value funds got approval to sue the company as a certified class (In re JPMorgan Stable Value Fund ERISA Litig., S.D.N.Y., No. 1:12-cv-02548-VSB, order unsealed 4/17/17 ). The lawsuit accuses JPMorgan Chase & Co. of mismanaging its stable value funds—which are meant to be conservative, low-risk options that protect …

News Mar 31, 2017

Madoff Deals Locked in Safe at Center of U.K. Hedge-Fund Lawsuit

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,” …

News Mar 30, 2017

Bill Ackman’s Insider Trading Lawsuit May Cost Pershing Square Investors $75 Million

Heads I win, tails you lose… and then you lose some more. That seems to be the story surrounding Bill Ackman’s disastrous near $4 billion loss in Valeant Pharmaceuticals. Ackman’s pharmaceutical foray is mostly over after his hedge fund Pershing Square dumped all of its Valeant shares in mid-March at $11 apiece, or an over 90% loss, cementing one of Wall Street’s biggest-ever investment …

Settlements Feb 20, 2017

New York Life Settles 401(k) Lawsuit for $3 Million

New York Life Insurance Co. has agreed to settle a lawsuit alleging the firm engaged in self-dealing in its 401(k) plans for the sum of $3 million. Plaintiffs brought the excessive-fee suit against New York Life in July 2016, seeking relief for alleged damages caused by fiduciary breach in two company retirement plans. New York Life neither admitted nor denied wrongdoing as part of the …

Settlements Feb 13, 2017

Sears Settles Shareholder Lawsuit for $40M

Sears Holding Corp’s board of directors and chairman/CEO Eddie Lampert have agreed to a $40 million settlement of a shareholder lawsuit against Lampert himself, Reuters reports. The lawsuit, filed against Lampert, directors and the real estate investment trust (Seritage Growth Properties) that holds much of the struggling retailer’s most valuable real estate, claimed Lampert, whose …