Archive for January, 2016

JPMorgan Chase & Co. Securities Litigation

January 14, 2016  |   News   |     |   0 Comment

On 21 December 2015, parties in the JPMorgan Chase & Co. securities litigation reached an agreement to settle the case for $150 million.  Plaintiffs alleged that JPMorgan Chase & Co. made misstatements regarding its Chief Investment Office being involved in speculative trading. Professor Steven Feinstein of Babson College and Crowninshield Financial Research provided expert reports about market efficiency. Additional information is available here.

General Motors Securities Litigation

January 14, 2016  |   News   |     |   0 Comment

On 13 November 2015, parties in the General Motors securities litigation reached an agreement to settle the case for $300 million.  Plaintiffs alleged that General Motors made misstatements regarding its recall-related liabilities. Professor Steven Feinstein of Babson College and Crowninshield Financial Research provided analyses about damages. Additional information is available here.

CVS Caremark Corporation Securities Litigation

January 14, 2016  |   News   |     |   0 Comment

On 9 November 2015, parties in the CVS Caremark Corporation securities litigation (Medoff, Individually and On Behalf of All Others Similarly Situated,  v. CVS Caremark Corporation, et al.) reached an agreement to settle the case.  Plaintiffs alleged that CVS made misstatements in connection with its prescription benefits manager business.  Professor Steven Feinstein of Babson College and Crowninshield Financial Research provided expert reports and deposition testimony about market efficiency, loss causation, and the quantification of shareholder damages. Additional information ...

HCA Holdings, Inc. Securities Litigation

January 14, 2016  |   News   |     |   0 Comment

On 4 November 2015, parties in the HCA securities litigation (Karsten Schuh, Individually and on Behalf of All Others Similarly Situated, v. HCA Holdings, Inc., et al.) reached an agreement to settle the case for $215 million.  Plaintiffs alleged that HCA made misstatements in connection with its 2006 IPO regarding known trends concerning certain high margin components of HCA’s business.  Professor Steven Feinstein of Babson College and Crowninshield Financial Research provided expert reports and deposition testimony about loss causation and the ...

Bank of America Corporation Securities Litigation

January 12, 2016  |   News   |     |   0 Comment

On 30 October 2015, parties in the Bank of America Corporation securities litigation (Pennsylvania Public School Employee's Retirement System, Individually and On Behalf of All Others Similarly Situated,  v. Bank of America Corporation, et al.) reached an agreement to settle the case for $335 million.  Plaintiffs alleged that Bank of America made misstatements regarding its system for keeping track of mortgages. Professor Steven Feinstein of Babson College and Crowninshield Financial Research provided expert reports about loss causation and the quantification of shareholder ...

Bridgepoint Education, Inc. Securities Litigation

January 10, 2016  |   News   |     |   0 Comment

On 4 September 2015, parties in the Bridgepoint Education, Inc. securities litigation reached an agreement to settle the case.  Plaintiffs alleged that Bridgepoint Education, Inc. made misstatements in connection with its pursuit of accreditation for Ashford University (“Ashford”) with the Western Association of Schools and Colleges (“WASC”), including Ashford’s prospects for achieving WASC accreditation and certain facets of Ashford’s educational model and success of operations.  Professor Steven Feinstein of Babson College and Crowninshield Financial Research provided expert reports ...