Jan
2
Parties Move To Dismiss All Claims In Auction-Rate Securities Suit
January 2, 2012 | Leave a Comment
BOSTON – Shareholders and Deutsche Bank AG (DB) have agreed to resolve all outstanding disputes in a securities lawsuit alleging that DB wrongly invested more than $ 200 million in auction-rate securities, according to a Dec. 19 joint motion to dismiss filed by both parties in Massachusetts federal court (Akamai Technologies, et al. v. Deutsche [...]
Dec
28
E*TRADE Announces $ 79M Settlement Of Subprime Claims In Securities Suit
December 28, 2011 | Leave a Comment
NEW YORK – E*TRADE Financial Corp. has agreed to a $ 79 million settlement with investors to settle claims that it misrepresented the risk associated with its investment in subprime mortgage-backed securities in violation of federal securities laws, according to a Securities and Exchange Commission Form 8-K filed by E*TRADE on Dec. 21 (Larry Freudenberg [...]
Dec
4
Judge Grants Preliminary Approval Of $ 145M Settlement In Securities Class Action
December 4, 2011 | Leave a Comment
PHOENIX – A federal judge in Arizona on Nov. 29 preliminarily approved a $ 145 million settlement between shareholders and Apollo Group Inc. and certain of its executive officers to end the long-running securities class action lawsuit (In re Apollo Group, Inc. Securities Litigation, No. 04-2147, D. Ariz.). LexisNexis® Mealey’s™ Daily Legal News
Nov
13
High Court Won’t Hear Appeal In Dana Corp. Securities Class Action Suit
November 13, 2011 | Leave a Comment
WASHINGTON, D.C. – The U.S. Supreme Court on Nov. 7 ruled that it will not hear an appeal of a Sixth Circuit U.S. Court of Appeals ruling that shareholders have properly pleaded scienter in making their federal securities law claims against two executive officers of Dana Corp. (Michael J. Burns, et al. v. Plumbers & [...]
Nov
1
Motion To Dismiss In Oppenheimer Securities Class Action Substantially Denied
November 1, 2011 | Leave a Comment
DENVER – Lead plaintiffs in a multidistrict litigation have failed to plead their claim under Section 13(a) of the Investment Company Act, but have properly pleaded all other federal securities law claims, a federal judge in Colorado ruled Oct. 24 in substantially denying defendants’ motions to dismiss (In re Oppenheimer Rochester Funds Group Securities Litigation, [...]
Jul
11
Wells Fargo To Pay $ 125M To Settle Mortgage-Backed Securities Claims
July 11, 2011 | Leave a Comment
SAN JOSE, Calif. – Lead plaintiffs and Wells Fargo Bank, N.A., its subsidiary and four officers and directors have agreed to a $ 125 million settlement of claims filed by investors in connection with Wells Fargo’s offering of $ 36 billion in mortgage pass-through certificates, according to documents filed in California federal court and made [...]