Class Action

  • June 13, 2006

    Tyco Executives To Face Yet Another Trial

    A year after its former chief executive and chief financial officer were convicted of fraud in one of the country’s most highly publicized cases, Tyco International Ltd. will face yet another trial, this time from its former shareholders.

  • June 12, 2006

    FTC Digs Deeper Into Funeral Home Merger

    The U.S. Federal Trade Commission has requested more information from two of the nation’s largest funeral home operators in its examination of whether their impending merger will diminish competition in the funeral home industry.

  • June 9, 2006

    Judge Throws Out Suit Against Cell Therapeutics

    A federal judge has tossed a private securities fraud class action suit against Cell Therapeutics Inc., which claimed the company’s officers made false statements relating to the success of its lung cancer drug XYOTAX.

  • June 6, 2006

    Class Action Alleges Global Acrylic Glass Cartel

    In the wake of last month’s massive crackdown on an acrylic glass cartel by European regulators, a group of chemical companies is facing similar charges on this side of the Atlantic in a new class action alleging the companies conspired to fix the prices of acrylic glass and plastics.

  • June 6, 2006

    CalPERS Appeals NYSE’s Removal From Suit

    The California Public Employee’s Retirement System has appealed a decision that removed the New York Stock Exchange as a defendant in a lawsuit alleging that the exchange aided several investment banks in executing fraudulent trading schemes.

  • June 5, 2006

    Vonage Slapped With Class Action Suit After IPO Tanks

    Just one week after its initial public offering, Internet phone company Vonage Holdings Corp. has been hit with a class action suit alleging the company made false and misleading statements in an effort to entice potential investors into purchasing shares of the company’s stock.

  • June 5, 2006

    Finova Sits Out Thaxton Class Action Settlement

    Three months after a crucial stay was lifted, the noteholders of bankrupt financial services outfit Thaxton Group Inc. have reached a $10 million partial class action settlement over the allegedly fraudulent sale of $120 million worth of debt to individuals.

  • June 2, 2006

    Court Blocks Infineon From Dismissing Shareholder Suit

    In a setback for Infineon Technologies AG, a California district court has denied the German semiconductor maker’s attempt to dismiss a U.S. class action on behalf of shareholders who claimed Infineon inflated its share price through cartel deals.

  • June 2, 2006

    Amended Complaint Filed In Parmalat Class Action

    Shareholders have amended their class action complaint against the executives, underwriters, and auditors of Italian dairy giant Parmalat SpA, adding allegations that target the company itself.

  • June 2, 2006

    Bawag To Settle With Feds Over Refco Fallout

    In a bid to avoid a criminal indictment in the United States, Austrian lender Bawag PSK Group has settled out of court with federal regulators for an amount that may exceed $600 million for its alleged role in the collapse of futures broker Refco Inc.

  • June 1, 2006

    Milberg Weiss Feels Repurcussions From Indictment

    New York State Comptroller Alan G. Hevesi is asking a federal judge to remove recently indicted law firm Milberg Weiss as counsel for the lead plaintiff in a class action securities suit against Bayer AG.

  • May 26, 2006

    Global Crossing To Settle Class Action Suit

    The federal judge overseeing a class action securities suit against Global Crossing has granted preliminary approval to a settlement agreement that may bring the case to a close.

  • May 25, 2006

    Private Class Actions In Canada Are On The Rise

    Attorneys in Canada are noting a surge in antitrust private class actions as the plaintiffs bar becomes more established and aggressive in filing cases.

  • May 24, 2006

    Judge Approves $6.6B Enron Settlement

    Three banks will pay $6.6 billion to settle charges that they helped now-defunct Enron Corp. camouflage losses, bringing the total settlement value in the Enron case to a whopping $7.3 billion.

  • May 24, 2006

    Wave Of Derivative Suits Follows Options Probe

    Inquests into questionable stock options practices at several high-tech companies have prompted a slew of derivative suits, as shareholders claim that boards of directors are looking the other way as executives manipulate their options grants to reap millions.

  • May 24, 2006

    Class Action Takes Aim At MasterCard IPO

    As MasterCard Inc. debuts on the New York Stock Exchange as a public entity Thursday, the second-largest credit card company is already facing a new challenge over its initial public offering from an ongoing lawsuit.

  • May 23, 2006

    Judge Rules Veritas Software Class Action Can Proceed

    Despite requests from software maker Veritas Software Corp. for dismissal, a federal judge on Tuesday stated that a shareholder class action lawsuit over the company’s 2003 and 2004 financial results could go ahead.

  • May 22, 2006

    Bawag Could Pay $600M To U.S. Authorities

    Austrian lender Bawag PSK Group may pay as much as $600 million to settle allegations made by authorities in the United States considering criminal indictments against the bank for its alleged involvement in the collapse of futures broker Refco Inc.

  • May 18, 2006

    No End In Sight For DRAM Litigation

    The whirlwind of litigation involving DRAM technology will not abate any time soon, despite a federal judge's preliminary approval last week of a $160 million settlement to be paid by the world’s top memory-chip makers.

  • May 18, 2006

    Sears To Pay $215M To Settle Class Action

    Retail giant Sears Roebuck & Co. has agreed to pay $215 million to settle a long-running shareholder class-action lawsuit that accused the company of concealing poor profitability at its former credit card unit.