shareholder lawsuit News

Spain’s Abengoa Wins Dismissal of US Shareholder Lawsuit Alleging Fraud

NEW YORK —A US judge on Tuesday dismissed a lawsuit by Abengoa SA shareholders accusing the Spanish engineering and energy company of conducting a massive accounting fraud between 2013 and 2015 that masked a liquidity crisis and culminated in bankruptcy. …

Judge Rejects ‘Gag Order’ for Elon Musk in Shareholder Suit

Elon Musk will not be subjected to a “gag order” preventing him from discussing a lawsuit claiming he defrauded Tesla Inc. shareholders by tweeting in 2018 about taking his electric car company private, a federal judge ruled on Wednesday. U.S. …

Tesla Stockholders Ask Judge to Silence Musk in Fraud Case

DETROIT (AP) — A group of Tesla shareholders suing CEO Elon Musk over some 2018 tweets about taking the company private is asking a federal judge to order Musk to stop commenting on the case. Lawyers for stockholders of the …

Rivian is Sued by Shareholder After Rolling Back Electric Vehicle Price Hikes

Rivian Automotive Inc RIVN.O has been sued by a shareholder who claimed the company misled investors in its initial public offering about how it had mispriced its electric vehicles, leading to unpopular price hikes that it swiftly rolled back. In …

US Supreme Court Spurns Google Bid to Avoid Shareholder Lawsuit

WASHINGTON –– The U.S. Supreme Court on Monday declined to hear Alphabet Inc’s GOOGL.O attempt to nix a lawsuit by shareholders accusing the Google parent company of fraudulently concealing a security glitch that left private user data exposed. The justices …

Luckin Coffee Agrees to Settle Accounting Fraud Claims For $175M

NEW YORK — Luckin Coffee Inc reached a $175 million settlement of shareholder class-action claims that the Chinese rival to Starbucks fraudulently inflated its share price by falsifying revenue. Lawyers for the shareholders called the all-cash settlement, filed on Monday …

Shareholder Suits Over Willis/Towers Watson Merger May Cost Insurers $80M

Seven insurers that shared the risk for directors and officers policies sold to Towers Watson may have to pay up to $80 million for settlements with shareholders who cried foul after learning that the brokerage’s merger with Willis included a …

Apple Must Face Shareholder Lawsuit Over CEO Cook’s China Sales Comments

Apple Inc has been ordered to face a proposed class-action lawsuit by shareholders who accused Chief Executive Tim Cook of concealing falling demand for iPhones in China, resulting in billions of dollars of investor losses. In a decision on Wednesday, …

Shareholder Lawsuit Says Energy Firm Cut Safety Budget Before Fatal Blast

A shareholder lawsuit alleges Anadarko Petroleum was focused on keeping oil and gas flowing from older wells, not fixing potential safety problems, in the months before a fatal house explosion in Colorado linked to an Anadarko well. The lawsuit cites …