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 […]
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 […]
Acadia Securities Litigation
March 11, 2024. The Court in the Acadia Pharmaceuticals securities matter (Southern District of California) certified a class of common stock investors. Plaintiffs allege that Acadia misled the market about the prospects of FDA approval for the company’s dementia-related psychosis treatment pimavanserin. Professor Steven Feinstein of Babson College and Crowninshield Financial Research provided expert reports […]
Johnson & Johnson Securities Litigation
December 29, 2023. The Court in Johnson & Johnson Securities Litigation (District of New Jersey) certified a class of common stock investors. Plaintiff alleges that Defendants artificially inflated the price of Johnson & Johnson’s common stock by making false and misleading statements to conceal from investors that the Company’s talc products were contaminated with asbestos. […]
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 […]
Grupo Televisa Securities Litigation
April 20, 2023. The Parties agreed to and the Court approved a $95 million settlement in a class action lawsuit filed against Grupo Televisa. Plaintiffs alleged that Grupo Televisa paid bribes to Fédération Internationale de Football Association (“FIFA”) executives for World Cup broadcast rights. According to Plaintiffs, the concealed scheme artificially inflated the market price […]
Synchrony Financial Securities Litigation
April 12, 2023. The Parties agreed to and the Court approved a $34 million settlement in a class action securities case involving Synchrony Financial. Plaintiffs alleged that Synchrony misrepresented the quality of its loan portfolio and underwriting practices. Professor Steven Feinstein of Babson College and Crowninshield Financial Research provided expert analysis and testimony on market […]
Cardinal Health Securities Litigation
April 4, 2023. The Parties agreed to and the Court approved a $109 million settlement in a class action securities litigation brought against Cardinal Health. Plaintiffs alleged that Cardinal failed to disclose inventory and supply chain issues at Cordis Corp., an operating unit the company acquired. Professor Steven Feinstein of Babson College and Crowninshield Financial […]
Splunk Securities Litigation
February 27, 2023. The parties in the Splunk Inc. Securities Litigation (Northern District of California) agreed to a $30 million class action settlement. Plaintiffs alleged that Splunk had falsely claimed that the company was on track to produce $1 billion in operating cash flow by 2023. Poor quarterly financial results that allegedly revealed previously concealed […]
