Class Action

  • May 11, 2006

    DRAM Makers Agree To $160M Settlement

    The world’s top memory-chip producers have agreed to pay $160 million to settle allegations that the rivals conspired for years to drive up the price of computer memory for computer makers and consumers.

  • May 10, 2006

    Lucent Faces Shareholder Suit Over Alcatel Merger

    Amid plans to merge with French telecommunications equipment company Alcatel SA, Lucent Technologies said in a filing with the U.S. Securities and Exchange Commission this week that it is facing a class action lawsuit brought by shareholders opposing the deal.

  • May 8, 2006

    Shareholders File Class Action Against Vitesse

    Shareholders of Vitesse Semiconductor Corp. announced a class action lawsuit against the communications chip manufacturer on Friday, citing possible violations of federal securities law.

  • May 8, 2006

    Merrill Settles Global Crossing Class Action

    Investment bank Merrill Lynch & Co. has settled a shareholder lawsuit stemming from its role in underwriting two stock offerings for telecommunications company Global Crossing Ltd. in 2000.

  • May 8, 2006

    Bawag Added To Consolidated Refco Class Action

    Shareholders for bankrupt futures broker Refco Inc. have amended their class action complaint against the company, and a slew of third-party defendants, to include Austrian bank Bawag PSK Group, accusing the embattled lender of helping push Refco over the edge with bad loans.

  • May 5, 2006

    E.C. Plans To Review Austria’s Bawag Bailout Plan

    Just days after the Austrian government infused national bank Bawag PSK Group with $1.13 billion to cover costly litigation settlements in the United States, European competition regulators have asked Austria to share details of the bailout transaction.

  • May 5, 2006

    Qwest Shareholders Opt Out of Proposed Settlement

    Expanding litigation for Qwest Communications International Inc., more members of an accounting fraud class action lawsuit against the embattled telecommunications company have opted out of a $400 million settlement proposal with the U.S. Securities and Exchange Commission.

  • May 5, 2006

    Warner Music Group Hit With 14 Antitrust Suits

    As the U.S. Department of Justice presses on with its antitrust investigation of the music industry, Warner Music Group Inc. has revealed that it is currently facing 14 class action lawsuits in connection with the pricing of digital music downloads.

  • May 4, 2006

    Cendant Settles Class Actions For $22M

    Embattled Cendant Corp. will soon have fewer lawsuits to worry about, after reaching a $22 million settlement agreement in two class action suits filed against the company in 1998.

  • May 3, 2006

    Options Grants At Affiliated Prompt Derivative Suit

    Shareholders of Affiliated Computer Services Inc. have filed a derivative suit against the company and several of its executives stemming from allegations of backdating on options granted to the company’s former CEO.

  • May 3, 2006

    XM Radio Slapped With Securities Suit

    XM Satellite Radio Holdings Inc. was brought back to earth Monday when it was hit with a proposed class action lawsuit alleging securities fraud.

  • May 3, 2006

    Bernstein Litowitz Tops ISS Plaintiffs Firm List

    Having recovered $3.7 billion for shareholders in 2005, law firm Bernstein Litowitz Berger & Grossman has won the top spot on the Institutional Shareholder Services list of the top 50 plaintiff’s firms for the second year in a row.

  • May 1, 2006

    Cheap Trick: Sony Skimps On Download Royalties

    In a move that challenges how the music industry assesses royalties for musicians who signed contracts before the dawn of digital downloads, members of Cheap Trick and The Allman Brothers Band filed a lawsuit Friday claiming they were shortchanged by Sony BMG Music Entertainment Inc. to the tune of at least $25 million.

  • April 28, 2006

    Class Actions Accuse Clear Channel Of Illegal Monopoly

    Entertainment company Clear Channel Communications has been hit with a bevy of class action antitrust lawsuits alleging that the company and its subsidiaries conspired to limit competition for concert promotion services.

  • April 28, 2006

    Air Cargo Litigation Seen Progressing At Snail's Pace

    As the number of U.S. district court cases continue to pile up against the $60 billion air cargo industry over alleged collusion into price-fixing surcharge fees, progress toward trying the cases in court is proving to be slow-going.

  • April 26, 2006

    J&J Faces Growing Threat In Ditropan XL Litigation

    The ranks of plaintiffs in a class action suit alleging that Mountain View, Calif.-based Alza Corporation monopolized the market for a bladder control drug grew Tuesday, when a judicial panel added a case from Tennessee to the pool of aggrieved litigants.

  • April 26, 2006

    Qwest Seeks New Ruling On Attorney-Client Privilege

    Should corporate secrets be shared with investors? Qwest Communications doesn’t think so. The company has asked a judge to allow it to withhold information from shareholders that has already been disclosed to government officials.

  • April 24, 2006

    IPO Settlements Could Mean Payday For Issuers

    The Initial Public Offering class action litigation may not only end up paying off for the plaintiffs in the securities suit, but may actually end up benefiting the companies whose IPOs sparked the lawsuit in the first place.

  • April 21, 2006

    Refco CEO Asks Judge To Throw Out Suit

    Refco Inc.’s former CEO, Philip Bennett, has asked a Manhattan district court judge to throw out a $245 million criminal fraud class action suit brought against him by three funds managed by Thomas H. Lee Partners, a private equity firm that facilitated the commodity brokerage’s initial public offering last year.

  • April 21, 2006

    Freddie Mac Settles Suit, Investors Get $410 Million

    In one of the largest securities class action settlements in history, mortgage lender Freddie Mac will pay $410 million to end a shareholder lawsuit over accounting mistakes that led the company to restate earnings from 2000 to 2002.