Investment Losses
DiversyFund and REITs Misleading Statements and Omissions Class Action
This class action brings suit against two real estate investment trust (REITs), DF Growth REIT, LLC (REIT I), DF Growth REIT II, LLC (REIT II), their sponsor DiversyFund, Inc., and two persons who had control of these entities, Craig Cecilio and Alan Lewis. The complaint alleges that these defendants sold shares to investors while making Read more
SBF, FTX Cryptocurrency Exchange and Hedge Fund Failure Class Action
This class action, unusually, names five individuals and no companies as defendants, most likely because the companies involved in the associated events appear to have failed. The complaint brings suit against Samuel Bankman-Fried (SBF) and four others involved in his FTX cryptocurrency exchange and Alameda Research hedge fund, from which billions of dollars appear to Read more
Citigroup Fails at Best Execution of Orders Class Action
Citigroup Global Markets, Inc. acts as a broker for other companies, buying and selling securities in the markets. The complaint for this class action alleges that Citigroup did not follow instructions from one of its clients to achieve best execution of two large orders without unduly affecting prices. The complaint claims that Citigroup’s ignoring of Read more
SafeMoon Cryptocurrency “Pump and Dump” Class Action
The prospects for individuals cryptocurrencies are difficult for individuals to evaluate before they buy. The defendants in this class action brings are SafeMoon, LLC, related other SafeMoon companies, and two groups of individuals (the Executive Defendants and the Promoter Defendants), all connected to the SafeMoon token. The complaint alleges that these defendants used “misleading promotions Read more
Geron Conceals Study Results, Sells Inflated Stock Class Action
Geron Corporation, a biopharmaceutical company, had just one drug in its pipeline, imetelstat. The complaint for this class action alleges that a Phase 2 clinical trial for the drug produced disappointing results. Despite this, according to the complaint, company insiders sold a large amount of stock without disclosing the results of the trial. This class Read more
CITIC Capital RICO Conspiracy GNC Shareholders’ Class Action
This class action is brought by minority shareholders in GNC Holdings, Inc. The complaint alleges that “a number of state-owned Chinese corporations and individuals, GNC’s Board of Directors and senior management, certain [of] GNC’s secured lenders and financial advisor” who have conspired “to enrich themselves at the expense” of other shareholders through dishonest actions that Read more
Hospitality Investors Trust REIT Investigation
Did you lose money by following a broker’s recommendation to invest in Hospitality Investors Trust REIT? If so, you may be able to participate in a lawsuit. We’re investigating whether brokers or financial advisors recommended this REIT to their clients, even if it was not suitable for them. A REIT is a real estate investment Read more
IBM Retirement Plans Breach of Fiduciary Duty Settlement
A settlement of $4,750,000 is resolving a class action against the IBM Retirement Plans Committee and certain individuals under the Employee Retirement Income Security Act (ERISA). The complaint alleged that the committee breached its fiduciary duty of prudence in offering IBM common stock as an investment in its 401(k) plan. It claimed that the committee Read more
Vida Longevity Fund Omissions in Offering Materials Class Action
This class action brings suit under the Texas Securities Act (TSA) against a number of parties related to the Vida Longevity Fund, LP, established in 2010. The Fund promised a high rate of return, but the complaint alleges that it was hiding “serious weaknesses in the Funds’s internal processes and procedures…” It claims that these Read more
EquiAlt $170 Million Ponzi Scheme California Class Action
“This case arises from $170 million Ponzi scheme operated by EquiAlt, LLC[,]”the complaint for this class action says in its opening line. According to the complaint, EquiAlt claims to use investor funds to buy distressed real estate and promised eight to ten percent profit with very little risk. However, the complaint claims that the promises Read more
