The most recent cost to Wells Fargo & Co. arising out of its fake-account scandal is a $480 settlement with its shareholders. The settlement resolves the main class-action suit brought by shareholders targeting the bank’s allegedly deficient disclosures related to its sales practices.
After two years of litigation, a California federal judge approved a $33 million class action settlement resolving allegations that Fitbit Inc. hid problems with its fitness trackers and artificially inflated its stock price.
Japanese auto parts maker Tokai Rika has agreed to settle claims against it for $34.2 million. The four proposed settlement classes include those who say they were overcharged for heating control panels, occupant safety restraint systems, switches and steering angle sensors. According to the motion for preliminary approval, the classes includes millions of buyers.
Facebook has been sued in a California federal court by a Facebook user. The plaintiff seeks to get the case certified as a class action.
Shareholders of Facebook stock sued the social media giant alleging that Facebook made misleading claims about its use of user data, which blew up this month when its alleged relationship to a Trump-linked data firm was made public.
The parties to a class action against Yahoo arising out of a data breach involving the personal information of 1.5 billion users announced a settlement of the claims of investors that the risks were not disclosed.
On February 26, 2018, a class action lawsuit was filed in Louisiana against several pharmaceutical manufacturers and distributors on behalf of babies born in Louisiana with opioid addictions.
A settlement of a class action against Facebook was preliminarily approved on February 26, 2018. The deal was reached to a securities fraud suit that had been certified as a class action.
A proposed class of consumers that purchased automobiles have reached an $11 million settlement of their claims with Japanese auto parts maker Calsonic Kansei Corp. The complaint alleged that Calsonic was part of a conspiracy to fix prices for vehicle air conditioning systems.
Continental Automotive Electronics LLC has agreed to pay nearly $4 million to car buyers to settle antitrust claims related to multidistrict litigation over an alleged auto parts price-fixing scheme. The settlement relates to instrument panel clusters that the company sold for use in cars sold in the U.S.
A class action has been filed in California, January 3, 2018, less than 24 hours after Intel Corp. announced that patches to fix an alleged security defect in its chips could result in potential performance-slowing in its chips. The complaint alleges that Intel isn’t making customers whole with the patch because they’re getting a slower system than they bargained for.
A class action lawsuit has been filed in California federal court against Apple after the company admitted it slows down old iPhones with older batteries.
U.S. District Judge Marianne O. Battani, in the district of Michigan, gave initial approval to a $12.16 million proposed settlement that would end claims in multidistrict litigation that a Japanese auto parts supplier participated in a wide-ranging conspiracy to hinder competition by fixing the prices of ceramic substrates sold to U.S. automakers.
Richard Cordray was appointed the lead in the newly created Consumer Financial Protection Bureau by President Obama.
On November 1, 2017, plaintiffs in a class action against 24 Hour Fitness moved for preliminary approval of a $1.5 million settlement over allegations that the fitness center chain carried out a fraudulent and misleading sales campaign related to its prepaid memberships.
The leader of the nation’s largest veterans’ service organization expressed concern over the loss of financial protections for veterans and service members in the wake of a U.S. Senate late night vote on Wednesday.
Senate Republicans narrowly passed a resolution to kill a recently adopted Consumer Financial Protection Bureau (CFPB) rule prohibiting financial firms from requiring customers to resolve any disputes with the firms through individual arbitrations.
Please contact your senator and ask them to vote against S.J. Resolution 47 — Equifax and Wells Fargo’s get-out-of-jail-free card.
Bridgestone has agreed to pay $29.6 million to settle price-fixing allegations in multidistrict litigation in Michigan federal court contending that the company colluded with other companies to rig the market for certain rubber vehicle components.
Wells Fargo has been sued again, this time the complaint alleges that it bilked home loan borrowers by charging them extra fees when their applications were delayed — even when it was the bank’s fault.
