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.
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.
Shareholders of Vitesse Semiconductor Corp. announced a class action lawsuit against the communications chip manufacturer on Friday, citing possible violations of federal securities law.
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.
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.
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.
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.
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.
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.
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.
XM Satellite Radio Holdings Inc. was brought back to earth Monday when it was hit with a proposed class action lawsuit alleging securities fraud.
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.
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.
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.
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.
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.
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.
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.
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.
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.