Category Archives: shareholder litigation
Shareholder Files Lawsuit Challenging UFC/WWE Merger
According to a report from Bloomberg Law News, a shareholder has filed a lawsuit challenging the proposed merger between Ultimate Fighting Championship (UFC) and World Wrestling Entertainment (WWE). The lawsuit—filed by a pension fund—alleges that executives of the companies engaged in a “sham” bidding process. Within this blog post, our Miami shareholder litigation lawyer… Read More »
Target Seeks Dismissal of Shareholder Lawsuit from Federal Judge in Florida
According to a report from Reuters, Target is seeking the dismissal of a shareholder lawsuit from a federal judge in Florida. The company is facing legal action from a shareholder over the fall out of its Pride-Month marketing campaign. The retailer argues that the shareholder lawsuit is politically motivated and that no violation of… Read More »
What People Get Wrong About Shareholder Derivative Lawsuits
There are two different types of shareholder lawsuits: 1) Direct actions and 2) Derivative actions. A derivative action is a type of legal claim through which a shareholder (or group of shareholders) seeks to take legal action on behalf of the corporation itself. Shareholder derivative actions are notoriously complex. Below, our West Palm Beach… Read More »
Walgreens Will Pay Nearly $200 Million to Settle Rite-Aid Shareholder Litigation
According to a report from Business Insurance, Walgreens has agreed to settle a shareholder lawsuit for nearly $200 million. The class action shareholder lawsuit was initially filed against the company back in 2017 by a group of Rite Aid Corp shareholders who accused top corporate executives at Walgreens of making material misrepresentations about the… Read More »
Federal Judge Declines to Dismiss Shareholder Lawsuit Against General Electric (GE)
According to a report from Reuters, a federal judge in New York State will allow a shareholder lawsuit against General Electric (GE) to proceed. The multinational conglomerate is facing a lawsuit from shareholders that allege that the company’s leadership knowingly and improperly concealed certain financial risks from investors. Here, our Miami shareholder litigation attorney… Read More »
Federal Appellate Court Revives Privacy-Based Shareholder Lawsuit Against Meta
According to a report from Reuters, the Ninth Circuit Court of Appeals has revived a shareholder lawsuit filed against Meta. The tech giant that owns Facebook and Instagram is facing a complaint from shareholders for harm related to alleged data privacy violations. In this article, our Miami shareholder litigation attorney discusses the dispute in… Read More »
Amazon Shareholder Files Lawsuit Over Blue Origin Launch Contract
According to a report from Reuters, an Amazon shareholder has filed a lawsuit against the Board of Directors and its founder Jeff Bezos. The complaint—filed by the Cleveland Bakers and Teamsters Pension Fund—alleged that the company awarded a launch contract to Blue Origin (also owned by Mr. Bezos) without properly considering competing bids. Within… Read More »
Wells Fargo Prevails in Shareholder Lawsuit Over Alleged “Fake” Interviews
According to a report from Reuters, Wells Fargo—the American multinational financial services company based in San Francisco, California—has prevailed against a lawsuit filed by a group of shareholders. The claim had alleged that the company used “sham” interviews to boost certain diversity statistics. Within this article, our West Palm Beach shareholder litigation attorney explains… Read More »
JP Morgan, CEO Jamie Dimon Prevail in Shareholder Lawsuit Centered Around Alleged Ties to Disgraced Former Hedge Fund Manager Jeffrey Epstein
According to a report from Reuters, JP Morgan, its Chief Executive Officer (CEO) Jamie Dimon, and the company’s board of directors have prevailed in a shareholder derivative lawsuit centered around its alleged connections with former distracted hedge fund manager Jeffrey Epstein. A federal court dismissed the shareholder lawsuit on the grounds that shareholders failed… Read More »
Gap Prevails in Diversity-Related Shareholder Lawsuit—Significant Circuit Split Now Exists on Enforceability of Shareholder Derivative Forum Selection Clauses
According to a report from Reuters, Gap—the large San Francisco, CA based retail brand—has prevailed in a shareholder lawsuit over allegations that it breached its obligations to shareholders by making material misrepresentations about the level of racial diversity among members of its corporate leadership. Notably, the company won on a technical shareholder law matter…. Read More »