Sociedad Química y Minera Securities Litigation
April 26, 2021. The Court approved a $62.5 million settlement to end a securities class action lawsuit that was brought against SQM in the U.S. District Court for the Southern District of New York. Plaintiffs alleged, among other things, that SQM issued materially false and misleading statements regarding the Company’s failure to disclose that money […]
Valeant Securities Litigation
February 5, 2021. The Court in the Valeant Pharmaceuticals International securities matter (District Court of New Jersey) issued its Order and Final Judgment, ending the class action after Valeant settled with the class for $1.21 billion. Plaintiffs alleged that Valeant used a clandestine network of pharmacies to drive high-priced drug prescriptions; Valeant stock plummeted when […]
The Southern Company Securities Litigation
February 5, 2021. The Court in The Southern Company securities matter (Northern District of Georgia Atlanta Division) approved an $87.5 million settlement for the benefit of the Class of Southern common stock investors. Plaintiffs alleged that Southern misled investors regarding the construction timeline of a “clean coal” power plant. Professor Steven Feinstein of Babson College […]
First Solar Securities Litigation
June 30, 2020. The Court in the First Solar securities matter (District Court of Arizona) approved the parties’ agreement to settle for $350 million. Plaintiffs alleged that First Solar failed to disclose that certain of its solar modules were knowingly defective yet were sold to customers. First Solar allegedly engaged in accounting fraud with respect […]
Community Health Systems Securities Litigation
June 22, 2020. The Court in the Community Health Systems securities matter (Middle District of Tennessee) approved a class action settlement in the amount of $53 million. Plaintiff alleged that Community Health Systems’ financial results were artificially inflated due to it systematically overcharging Medicare for hospital services. Professor Steven Feinstein of Babson College and Crowninshield […]
MedMen Securities Litigation
June 17, 2020. MedMen announced that it had reached a settlement with claimants in the amount of 24 million shares (Superior Court of California, County of Los Angeles). Claimants filed a civil petition alleging that MedMen’s co‑founders exploited nearly complete control over the company and its subsidiaries to enrich themselves at the expense of shareholders. […]
Banc of California, Inc. Securities Litigation
October 31, 2019. Parties in the Banc of California securities matter (Central District of California) reached an agreement to settle the case for $19.75 million. Plaintiffs had alleged material misrepresentations and omissions regarding business relationships between the Company, its executives, and a convicted securities fraudster. Professor Steven Feinstein of Babson College and Crowninshield Financial Research […]
American Realty Capital Properties Inc. Securities Litigation
September 10, 2019. Parties in the American Realty Capital Properties securities litigation (Southern District of New York) reached an agreement to settle the case for $1.02 billion. American Realty Capital Properties currently known as Vereit. Plaintiffs had alleged that American Realty Capital Properties, Inc. engaged in fraudulent accounting over several years and made materially false […]
SunEdison, Inc. Securities Litigation
June 11, 2019. Parties in the SunEdison Securities matter (Eastern District of Missouri) reached an agreement to settle the case for $74 million. Plaintiffs had alleged that SunEdison, Inc. made material misrepresentations and omissions regarding the Company’s liquidity and debt burden as it undertook aggressive expansion and acquisitions. Professor Steven Feinstein of Babson College and […]
Eletrobras Securities Litigation
December 12,2018. The Court in the Eletrobras securities matter (Southern District of New York) approved a class action settlement in the amount of 14.75 million. Plaintiffs alleged that Eletrobras had been involved in bribery and corruption scheme that reached the highest levels of the company Professor Steven Feinstein of Babson College and Crowninshield Financial Research provided expert […]