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 …
Kansas City-based Federal Judge Ortrie Smith approved a settlement in a nationwide class action lawsuit that has Missouri roots. The case involved a Missouri man’s lawsuit against Remington Arms Company for a faulty trigger.
Turning aside objections from gun owners, legal experts and nine state attorneys general, a federal judge has given final approval to a landmark class action settlement involving some 7.5 million allegedly defective Remington guns, CNBC reports this morning. The ruling allows the owners of some of Remington’s most popular firearms — including the iconic Model 700 rifle — to have …
A $165 million cash settlement has been reached in a class-action lawsuit that alleged investors were misled about the safety of mortgage-backed securities comprised of loans originated by now-defunct subprime lender NovaStar Mortgage Inc. The settlement with Deutsche Bank, NovaStar, Royal Bank of Scotland and Wells Fargo is pending approval by the U.S. District Court in the Southern District …
For those betrayed even by their sex toys, a reward awaits. An Ottawa-based company has agreed to compensate owners of its Bluetooth-enabled high-end vibrator, We-Vibe, for collecting data on how they were using the devices without their consent. The company, Standard Innovation, settled a class-action lawsuit last week in Illinois federal court.
The manufacturer of a bluetooth-enabled sex toy has reached a US class action settlement of almost $4 million, after it was found to be collecting intimate data about the way purchasers used the vibrator device. The class action against sex toy company Standard Innovation Corporation was brought in the federal court by two anonymous women in the US last year, in relation to the We-Vibe 4 Plus, …
The D.C. law firm, Whitfield Bryson & Mason LLP, today announced that a settlement has been reached with Titeflex Corp. and Ward Manufacturing, LLC (“Defendants”) about allegedly defective Gastite® and Wardflex® corrugated stainless steel gas tubing (“CSST”) used to supply natural gas and propane to gas appliances. The class action lawsuit was …
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.
A Ninth Circuit judge on Monday questioned whether a federal judge made the right call by allowing Google to settle a privacy class action by giving $8.5 million to favored privacy organizations instead of class members. Though Senior Circuit Judge J. Clifford Wallace repeatedly questioned at the hearing whether the 2015 cy pres settlement was appropriate, the three-judge …
Days before his inauguration, President Donald Trump agreed to a $25 million settlement for the class action lawsuits he faced over Trump University. While he didn’t admit wrongdoing, Trump agreed to the deal to put the matter behind him before taking office. Now, however, one former Trump U student may put the kibosh on the whole deal.