VMwareVMware, Inc. Securities Litigation
October 11, 2024. Parties in the VMware, Inc. securities matter (Northern District of California) agreed to settle for $102.5 million. Plaintiff alleged that VMware had made materially false and misleading statements about an artificial sales backlog to hide slowing sales. Professor Steven Feinstein of Babson College and Crowninshield Financial Research provided expert testimony and reports on market […]
PegaSystems Securities Litigation
April 24, 2024. Parties in the Pegasystems securities matter (District of Massachusetts) agreed to settle for $35 million. Plaintiffs alleged that Pegasystems had engaged in corporate espionage and misused a competitor’s trade secrets. Professor Steven Feinstein of Babson College and Crowninshield Financial Research provided expert reports on market efficiency and Crowninshield Financial Research consulted on the plan […]
Envision Healthcare Securities Litigation
March 21, 2024. The Court in the Envision Healthcare Corporation securities matter (Middle District of Tennessee) approved a class action settlement in the amount of $177.5 million. Plaintiffs alleged that Envision artificially inflated its earnings through out-of-network billing, illegal upcoding, and inflated facility spending. Professor Steven Feinstein of Babson College and Crowninshield Financial Research provided […]
Apple Securities Litigation
March 15, 2024. Parties in the Apple securities matter (Northern District of California) agreed to settle for $490 million. Plaintiff alleged that Apple had made materially false and misleading statements about demand for the company’s iPhone XS, XS Max, and XR, and the strength of its business conditions in China. Professor Steven Feinstein of Babson College and […]
Aegean Marine Petroleum Network Securities Litigation
October 19, 2023. The Court in the Aegean Marine Petroleum Network securities matter (Southern District of New York) approved a $11.9 million settlement between Aegean shareholders and individual defendants. Previously, PWC Greece and Deloitte Greece agreed to pay $14.9 million each to settle with Aegean shareholders. Plaintiffs alleged that the individual defendants had taken part […]
AmTrust Securities Litigation
November 16, 2022. The Court in the Amtrust securities matter (Southern District of New York) approved a class action settlement in the amount of $13 million. Plaintiff alleged that defendants misrepresented and omitted material facts concerning the future of the company’s preferred shares, including the shares’ continued listing on the NYSE. Professor Steven Feinstein of […]
Innocoll Securities Litigation
October 28, 2022. The Court in the Innocoll securities matter (Eastern District of Pennsylvania) approved a class action settlement in the amount of $2.755 million. Plaintiff alleged that defendants concealed risks relating to the likelihood that the company’s pain management drug XaraColl would receive FDA approval. Plaintiffs retained Crowninshield Financial Research to provide expert analysis […]
EQT Corporation Securities Litigation
August 11, 2022. The Court in EQT Corporation Securities Litigation (Western District of Pennsylvania) certified a class of common stock investors. Plaintiffs allege that Defendants misled investors by stating that EQT’s acquisition of Rice Energy would yield billions of dollars in synergies. Professor Steven Feinstein of Babson College and Crowninshield Financial Research provided expert analysis and deposition testimony establishing […]
Puma Biotechnology Securities Litigation
August 3, 2022. The Court in the Puma Biotechnology securities matter (Central District of California) approved a class action settlement in the amount of $54.2 million. The settlement followed a 2019 federal jury trial that resulted in the jury finding Puma Biotechnology guilty of securities fraud. Plaintiffs alleged that Puma Biotechnology made false and misleading […]
Merit Medical Securities Litigation
April 18, 2022. The Court approved Merit Medical’s $18.25 million payment to end a securities class action lawsuit that was brought against the company in the Central District of California. Plaintiffs alleged that Merit Medical misled investors about the company’s business and prospects; specifically, Merit Medical’s integration of two acquisitions was disastrous and the company’s […]
