Inadequate internal system/oversight

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

Deep Root Analytics Stolen Information Class Action

According to the complaint, Deep Root collected PII on nearly 200 million Americans, including their names, addresses, e-mail addresses, dates of birth, browsing history, and voter ID numbers. The information allegedly included sensitive information analyzing where voters stood on controversial issues such as gun control and abortion, as well as information the RNC had had  Read more

Xerox Shareholder Derivative Lawsuit

This shareholder derivative lawsuit was filed for the benefit of Xerox Corporation against certain members of the company's Board of Directors who are accused of breaching their fiduciary duties to shareholders by failing to provide appropriate oversight and internal controls relating specifically to Xerox's acquisition of Affiliated Computer Services, Inc. and the resulting SEC investigation  Read more

Advanced Micro Devices (AMD) Shareholder Derivative Lawsuit

This shareholder derivative lawsuit alleges that Advanced Micro Devices (AMD) and its board of directors breached fiduciary duties by failing to implement internal and corporate controls necessary to ensure dissemination of accurate information to shareholders and the investment community, particularly in connection with the release of the company's Llano product.  Read more

USA Technologies Stock Falls After Bad Debt Allowance Increase

This class action lawsuit is brought against USA Technologies alleging failure to disclose (1) significant deficiencies in both the design and operating effectiveness of the company’s internal control over financial reporting; and (2) as a result of these deficiencies, USA Technologies’ procedures failed to identify a large number of uncollectible small balance accounts.  Read more