A U.S. jury has convicted Elizabeth Holmes, the founder of Theranos, of being guilty of defrauding investors in the blood testing startup. The jury convicted Holmes of of investor fraud and conspiracy, but acquitted her on three counts of defrauding… Read More ›
US banking giant Morgan Stanley has agreed to pay $60 million to settle a lawsuit brought by customers who have alleged that the bank exposed their personal data when it failed – twice – to properly retire its legacy information technology…. Read More ›
In a significant development a U.S. appeals court has revived a litigation wherein large banks had been accused of conspiring to rig the Libor interest rate benchmark, including during the 2008 financial crisis, to boost their profits at investors’ expense… Read More ›
In a significant development U.S. District Judge Paul Crotty in Manhattan ruled that Goldman Sachs Group Inc will have to again face a class action by shareholders who said they lost $13 billion since the bank hid conflicts of interest when… Read More ›
According to the terms of preliminary settlement filed before U.S. District Judge Lucy Koh in San Jose, California, Zoom Video Communications Inc has agreed to pay $85 million to settle a lawsuit which alleged claimed that it violated users’ privacy… Read More ›
Brent Borland, 48, a principal at Borland Capital Group, has pleaded guilty to ripping off dozens of investors to the tune of $21.9 million. As per a statement from the U.S. Department of Justice, Brent Borland, 48, a NY-based investment… Read More ›
Exxon is mulling its legal options. U.S. District Court Judge David Hittner has ruled that ExxonMobil Corp will have to pay $19.95 million as a penalty for pollution released from its Baytown, Texas, refining and chemical plant complexes between 2005… Read More ›
The class-action lawsuit had alleged loss of money to investors due to insider trading by Cohen’s hedge fund. Steven A. Cohen, a billionaire who used to formerly run SAC Capital Advisors LP, a hedge fund has now decided to settle… Read More ›
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