Corporate Governance

Republic of Korea Veterans Association Invalid Election Class Action

This class action is being brought against the Korean Veterans Association of the USA Western Region, by individual Man Kyu Choi. The details are somewhat difficult to understand, since it’s a pro se action brought (bravely) by a person with a very uneven command of English. It seems to pertain to an election for president  Read more

B Communications Chairman Involved in Possible Securities Violations Class Action

The complaint for this securities class action makes clear that the Securities Exchange Act of 1934 requires honest reporting of all factors that could influence a company’s performance, including criminal activity. The events in question revolve around three related companies—Eurocom, its indirect subsidiary B Communications, and B’s subsidiary Bezeq—and the actions of Shaul Elovitch, who  Read more

OSI Systems Foreign Bribes Class Action

The Foreign Corrupt Practices Act (FCPA) makes it illegal for companies to influence officials in foreign countries with personal payments or rewards—in other words, for companies to pay bribes in foreign countries. The complaint for this class action claims that OSI Systems, Inc. did just that, and did not disclose that or other adverse information,  Read more

City National Bank Aiding of ATM Ponzi Scheme Class Action

Two men, Joel Barry Gillis and Edward W. Wishner, are now in prison for running NASI, a company that operated a Ponzi scheme purporting to sell ATMs to investors in return for “rentals” from ATM fees. How did they get away with it for fifteen long years? According to the complaint for this class action,  Read more

Five Below (FIVE) Securities Class Action

The complaint alleges that during the Class Period, the defendants made false and misleading statements or failed to disclose adverse information about Five Below’s business and prospects.   Read more

TCP International Holdings Securities Fraud Class Action

This securities class action alleges that TCP International Holdings failed to disclose material facts relating to the company's chairman and improper personal payments he made relating to the business, did not disclose improper relationships with he had with vendors and misled investors with regard to the company's business operations and future prospects.  Read more

Starz (STRZA) Securities Fraud Class Action

This securities class action lawsuit alleges that Starz failed to disclose several material facts with regard to the business and prospects of the company during the relevant period concerning allegedly illicit practices committed by its officers. As a result, the stock traded at artificially inflated prices, eventually causing the plaintiff to suffer losses once the  Read more

VimpelCom (VIP) Securities Fraud Class Action

This securities class action lawsuit alleges that defendant VimpelCom made false and misleading statements about its business and prospects and also failed to disclose material facts concerning its payment of unlawful bribes in order to secure the company's access to Uzbekistan's telecommunications market and the fact that those actions led to probes and criminal investigations  Read more

BofI Securities Class Action Alleges Money Laundering

This federal securities class action lawsuit is brought against BofI Holdings, Inc., a holding company for BofI Federal Bank, a provider of consumer and business banking products through the Internet in the U.S.  BofI’s most significant business is making mortgages to high-net-worth individuals for the purchase of expensive properties through BofI’s Bank of Internet USA  Read more

VASCO Data Security Shareholder Derivative Lawsuit

This derivative lawsuit is brought against VASCO Data Security International, Inc. as Nominal Defendant and on behalf of VASCO Data Security International, Inc., derivatively, for making false statements and failing to disclose that (1) VASCO’s products were illegally sold to parties in Iran in violation of federal laws prohibiting such sales; and (2) VASCO lacked  Read more