An Ontario court has granted final approval to roughly $12.2 million in settlements from Toshiba Corp., Infineon Technologies Corp. and two other companies in class actions over an alleged conspiracy to price-fix dynamic random access memory devices, pushing the total recovery to $79.5 million.
Fannie Mae has agreed to pay $170 million to shareholders to settle a consolidated class action alleging the federal mortgage giant misrepresented its exposure to subprime loans in the runup to the 2008 mortgage crisis, according to documents filed in New York federal court Friday.
A California federal judge on Thursday dismissed a shareholder derivative lawsuit against the top brass at JPMorgan Chase & Co. over the bank’s residential mortgage-backed securities business that led to a $13 billion settlement with the government, saying the plaintiffs haven’t properly pled claims of false statements and self-dealing.
A Delaware Chancery judge on Friday threw out claims challenging the now-closed $390 million sale of Crimson Exploration Inc. by Contango Oil & Gas Co., ruling that the suing shareholders didn’t have enough of a case to stand up to either the business judgment or entire fairness standards.
The First Circuit on Friday reversed the remand of a putative wage class action against CVS Pharmacy Inc., saying CVS’ removal shouldn’t have been nixed for being filed past the 30-day deadline outlined in the Class Action Fairness Act, since the act includes exceptions when a suit’s damages can be readily calculated.
NII Holdings Inc. on Thursday asked a New York bankruptcy court to extend the automatic stay of litigation to cover its executives, who are facing an investor class action over allegedly false statements about the Nextel-brand wireless service provider’s performance, saying the litigation could harm restructuring efforts.
Supplement company Nature’s Bounty Inc. was hit with a proposed class action in California state court Wednesday, accusing the company of exaggerating the memory boosting effects of its ginkgo biloba supplements when there’s zero scientific evidence they improve brain function.
A Texas pension fund on Thursday filed a securities class action in New York federal court against Tesco PLC over the beleaguered U.K. retailer's omission that it has overstated its profits by £263 million ($421.4 million), a revelation that sent the company's stock tumbling.
Halliburton Energy Services Inc. and the federal government on Thursday panned BP PLC’s bid to escape a finding that it was grossly negligent in the events that led to the Deepwater Horizon disaster, saying there is plenty of evidence to prove its actions were to blame in the case.
A Pennsylvania federal judge overseeing multidistrict asbestos litigation brought by merchant mariners ended 32 of their suits in a decision published Thursday, saying the court lacked jurisdiction over the defendant companies because they weren't primarily based in the Virgin Islands, where the suits were brought.
A New York federal judge on Friday threw out a class action targeting the owners of bankrupt Kangadis Food Inc. personally for the company’s alleged misleading claims about the purity of its olive oil, citing a lack of evidence linking the Kangadis family to the alleged fraud.
A Florida magistrate judge conditionally certified a collective class of exotic dancers Thursday in their lawsuit accusing a Miami strip club of stiffing them on wages and overtime, in violation of the Fair Labor Standards Act.
Casino games maker Multimedia Games Holding Co. Inc. was hit with a second shareholder class action in Texas federal court Thursday alleging its proposed $1.2 billion buyout by Las Vegas-based Global Cash Access Holdings Inc. cheats shareholders, casting another cloud over the deal.
Disgruntled class members on Thursday challenged a purported $281 million settlement reached by Wells Fargo Bank NA and Assurant Inc. in a suit over their force-placed insurance practices, saying it is unclear how much of the money will actually reach affected homeowners.
Fullbar LLC, the maker of popular appetite-curbing snacks, was slapped with a proposed consumer class action in Florida federal court Thursday claiming it tricked consumers into paying more for its “all natural” bars, which actually contain synthetic ingredients such as maltodextrin and soy lecithin.
A California appeals court on Thursday revived a class action claiming Farmers Insurance Exchange violated unfair competition law by providing “good driver discounts” to eligible drivers, finding a lower court incorrectly interpreted an earlier remand to mean it could only consider dismissal instead of additional evidence.
A Washington federal jury on Thursday awarded Costco Wholesale Corp. about $37 million after finding that AU Optronics Corp. and dozens of other electronics companies fixed the price of liquid crystal display panels, tasking just six LCD makers with footing the damages bill.
A California federal judge this week tossed a shareholder class action against a health records software provider and its high-ranking directors and officers after finding that their optimistic projections about the future of electronic medical records fell under the safe harbor provision of the Private Securities Litigation Reform Act.
The Second Circuit agreed Thursday to put an appeal from consumers suing the London Metal Exchange Ltd. and several major banks over aluminum warehousing pricing on hold until the U.S. Supreme Court has ruled on a question of appellate procedure in the Libor manipulation litigation.
Two pension funds launched another challenge to Simon Property Group CEO David Simon's pay in a derivative lawsuit unsealed late Wednesday, arguing revisions to his compensation made in the midst of a prior Delaware Chancery Court fight weren’t good enough and could hand him more than $150 million.
Over the past few months, class action plaintiffs lawyers have responded to articles we wrote regarding a common practice that looks a lot like price-fixing of fees among class plaintiffs law firms in antitrust cases. But we have still not heard a strong defense, say attorneys with Baker Botts LLP.
Let’s face it: Taking friends or acquaintances to Justin Timberlake concerts or golf at the Ocean Course is not how we as law firm associates are going to develop business. Our primary value comes not from out-of-office networking jaunts but from bearing a laboring oar for our partners. Which is why our best approach to business development is more likely from the inside out, says Jason Idilbi of Moore & Van Allen PLLC.
Notwithstanding its arguably questionable precedential support, the Third Circuit’s decision in Opalinski v. Robert Half Inc. is not surprising. It continues arbitration law’s march toward a likely end, by any path, for class action liability for companies and other business entities, say Brian Berkley and Matthew Adler of Pepper Hamilton LLP.
Adding to its recent trend of case law raising the bar for plaintiffs seeking class certification, the Third Circuit's ruling in Grandalski v. Quest Diagnostics Inc. will make it even more difficult for consumers to gain certification of multistate classes when state law claims are being asserted, say Burt Rublin and Joel Tasca of Ballard Spahr LLP.
This fiscal year, the U.S. Equal Employment Opportunity Commission has focused substantial resources to tackle the legal issues that could — if the EEOC is successful — sweep away certain procedural prerequisites to filing suit that the agency believes impede its enforcement efforts, especially over systemic cases, say attorneys at Seyfarth Shaw LLP.
The Nevada federal court's recent ruling in Agincourt Gaming LLC v. Zynga Inc. is an important reminder that a nonparty wanting to challenge a civil subpoena should consider carefully the appropriate jurisdiction in which to file a motion to quash under recently enacted Rule 45, say Steven Luxton and Brad Nes of Morgan Lewis & Bockius LLP.
The inadequacies of party selection are particularly troubling when compared to random selection, which yields representative plaintiffs, is fair to both sides, and also produces valuable information for courts and litigants, say Loren Brown and Matthew Holian at DLA Piper LLP and Dov Rothman at Analysis Group Inc.
UnitedHealth Group Inc. v. Columbia Casualty Co. is a blunt reminder that the failure to prove up one’s case with actual evidence at the summary judgment phase can have serious consequences. It's also instructive on the types of proof an insured may rely on to prove allocation between covered and uncovered claims in a multiclaim settlement, say Patricia St. Peter and Kaisa Adams of Zelle Hofmann Voelbel & Mason LLP.
Saleem v. Corporate Transportation Group Ltd., the "black car" driver case brought under the Fair Labor Standards Act and the New York Labor Law, provides excellent examples for employers to better navigate the legal landscape of independent contractor status given the case's examination of contracts and control over contractors, say Larry Perlman and Tamar Dolcourt of Foley & Lardner LLP.
The costs of defending securities class actions continue to increase, and the root cause is the convergence of two related factors — the prevailing view that securities class actions are “bet the company” cases, and the consequent reflexive hiring of BigLaw firms, says Douglas Greene of Lane Powell PC.