A Facebook Inc shareholder has filed a proposed class action lawsuit in a bid to stop the company’s plan to issue new Class C stock, calling the move an unfair deal to entrench chief executive Mark Zuckerberg as controlling shareholder. The lawsuit, filed in the Delaware Court of Chancery, comes two days after the social networking company announced its plan to issue the shares. The rejiggering …
A settlement has been reached involving Eastman Kodak and some of its current and past employees over a class action lawsuit. The settlement totals $9.7 million dollars. It has to do with lawsuits following Kodak’s 2012 bankruptcy filing, involving participants in the company’s savings and investment plan for employees and the Kodak Employee Stock Ownership plan.
The following statement is being issued by Levi & Korsinsky, LLP: To: All persons or entities who purchased or otherwise acquired NRG Yield, Inc. (“NRG Yield” or the “Company”) (NYSE:NYLD) Class C common stock pursuant and/or traceable to the Company’s Class C stock offering completed on June 29, 2015. You are hereby notified that a securities class…
CLEVELAND, Ohio — Investors who still own stock in Cleveland-based Cliffs Natural Resources face another round of bad news. Their stock lost more than 12 percent of value Tuesday, closing at just $2.38 a share on the New York Stock Exchange, after two investors who previously bought unsecured bonds in the company filed a class action lawsuit. The complaint, filed in a federal court in New …
When Hortonworks CEO Rob Bearden took questions from analysts during the company’s earnings call on Feb. 10, Barclays managing director Raimo Lenschow put him on the spot. Lenschow wanted to know what Hortonworks — the provider of big data crunching Apache Open Source Hadoop — was going to do to stop employee attrition, given how far the value of their stock options had fallen. “Have you …
Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Apollo Education Group, Inc. (“Apollo Education” or the “Company”) (Nasdaq:APOL) in the United States District Court for the District of Arizona on behalf of a class consisting of all persons or entities …
VCs have pumped up the value of the “unicorn” startups. Now tech IPOs are in trouble. Good luck getting out.