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Colony NorthStar Logo

Colony NorthStar Did Not Disclose Adverse Information Securities Class Action

Colony NorthStar, Inc. is a real estate and investment management company that operates in five segments. The complaint for this class action alleges that the company did not disclose in a timely way adverse information, about the company’s Healthcare and Investment Managements segments, including some units related to its merger, in violation of the Securities  Read more

Securities
Stock Losses, Securities, Providing False or Misleading Information
2017 Chevrolet Equinox

Chevrolet Equinox Excessive Oil Consumption and Damage Class Action

If your car engine is consuming oil faster than it should, how would you know when more oil is needed? Perhaps you would rely on the vehicle’s oil pressure warning (OPW) or oil life monitoring (OLM) system. But if you had a Chevrolet Equinox from certain model years, the complaint for this class action alleges,  Read more

Securities
Oil Use or Consumption, Engine Defects, Defective Automobile
Cancer Genetics Logo

Cancer Genetics Improper Recording of Doubtful Collections Securities Class Action

The complaint for this securities class action alleges that Cancer Genetics, Inc. failed to properly account for doubtful collections in some of its accounts, recording them as bad debts when they should have been reductions in net revenue. The complaint says that the improper recording amounts to a violation of the Securities Exchange Act of  Read more

Securities
Stock Losses, Securities, Providing False or Misleading Information
Ericsson Logo

Ericsson Overstated Revenues and Delayed Expenses Securities Class Action

Telefonaktiebolaget LM Ericsson did not prepare its financial statements according to International Financial Reporting Standards (IFRS), claims the complaint for this securities class action. As a result, it says, it overstated service revenues and improperly delayed reporting at least a billion dollars of expenses on long-term service projects, making its public statements false and misleading  Read more

Securities
Stock Losses, Securities, Providing False or Misleading Information
Illumina NextSeq 550

Illumina Guidance Fails to Consider Declines Securities Class Action

When Illumina, Inc. came out with two new genetic sequencing instruments that offered “dramatic technology advances” as well as lower costs and more flexibility, it was right to anticipate good sales of these products. However, the complaint for this class action alleges that in predicting revenues for the third quarter of 2016, it ignored their  Read more

Securities
Stock Losses, Securities, Providing False or Misleading Information
Longfin Logo

Longfin Stock Quick Rise and Fall Securities Class Action

What should investors think of a company that holds an initial public offering, projects astronomical growth, then admits it lacks even personnel who are skilled in proper reporting? The complaint for this class action alleges that Longfin Corporation stock rose and plunged in a matter of months, based on false impressions of the corporation which  Read more

Securities
Stock Losses, Securities, SEC Investigations, Providing False or Misleading Information
Synacor Office

Synacor Overestimates Contract Revenues for 2017 Securities Class Action

News of Synacor’s signing of a three-year contract with AT&T, the largest pay TV provider in the US, seemed promising for the company when it was announced in 2016. But the complaint for this class action claims that Synacor did not disclose that the large revenues projected to come from the contract would not show  Read more

Securities
Stock Losses, Securities, Providing False or Misleading Information
Izea Logo

Izea Content Platform Misstates Revenues Securities Class Action

When does $6.5 million become only half a million? When a company has improperly figured revenues, as the complaint for this class action alleges was the case with Izea, Inc., which reported gross billings to marketers when it should have reported only net transactions. Proper accounting for revenues is important in assessing the performance of  Read more

Securities
Universal Health Services Sign

Universal Health Services Fraudulent Insurance Claims Securities Class Action

The complaint for this securities class action alleges that Universal Health Services, Inc. (UHS) “manipulated and fabricated” patient intake assessments, including labeling some patients as suicidal when they were not, in order to make money from their insurance policies. It also claims they were held longer than was medically necessary, in order to make more  Read more

Securities
Stock Losses, Securities, Providing False or Misleading Information
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Dakota Plains Holdings Stock Manipulation Securities Class Action

The complaint for this class action alleges that Ryan R. Gilbertson and Michael L. Reger founded Dakota Plains Holdings in order to run a stock manipulation scheme. The two made all important decisions concerning the company, the complaint said, yet hid the extent of their ownership as well as their roles and their stock manipulation  Read more

Securities
Stock Losses, Securities, Providing False or Misleading Information