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 […]
Inovio Pharmaceuticals Securities Litigation
January 18, 2023. The Parties agreed to and the Court approved a $44 million settlement in a class action lawsuit filed against Inovio Pharmaceuticals. Plaintiffs alleged that the Company made misleading statements about its ability to quickly produce an effective Covid-19 vaccine. According to Plaintiffs, the misrepresentation inflated the Company’s stock price and caused investor […]
Jeld-Wen Securities Litigation
November 22, 2021. The Court in the Jeld-Wen securities matter (Eastern District of Virginia) approved a $40 million class action settlement and plan of allocation. Plaintiffs alleged that Jeld-Wen failed to disclose its intentional anticompetitive conduct that violated federal antitrust law. Professor Steven Feinstein of Babson College and Crowninshield Financial Research provided expert analysis and testimony on […]
Novo Nordisk Securities Litigation
September 24, 2021. Novo Nordisk agreed to pay $100 million to end a securities class action lawsuit that was brought against the company in the District Court of New Jersey. Plaintiffs alleged that Novo Nordisk made material misrepresentations and omissions about factors that impacted Novo Nordisk’s U.S. diabetes business segment. Professor Steven Feinstein of Babson […]
Restoration Robotics Securities Litigation
September 9, 2021. The Court approved a $4.175 million settlement and plan of allocation to resolve all claims in the Restoration Robotics securities class action lawsuit (Northern District of California San Jose Division). Plaintiff alleged that Restoration Robotics made materially false and misleading statements in the registration statement and prospectus for the company’s initial public […]
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 […]
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 […]
BlackBerry Limited Securities Litigation
January 26, 2021. The Court in Pearlstein v. Blackberry Limited et al. (Southern District of New York) certified a class of common stock investors. Plaintiffs allege that Defendants misled investors regarding Blackberry’s new Blackberry 10 smartphone device – the market demand, reception, and profitability prospects of the device. To date, Professor Steven Feinstein of Babson College and […]
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 […]