Providing False or Misleading Information
Celsius (CELH) False or Misleading Statements and Stock Losses Class Action
On March 1, 2021, Celsuis Holdings, Inc. (NASDAQ: CELH) announced that it would not be able to file its 2021 annual report on time. This, the complaint alleges, was because Celsius had made false and misleading statements during the previous periods, violating the Securities Exchange Act of 1934. Celsius’s stock price fell more than 8% Read more
Ziploc Bags “Unbeatable” Protection and Freshness Claims Class Action
This class action brings suit against S.C. Johnson & Son, Inc. about its sealable Ziploc bags. The complaint alleges that the company makes claims about the bags, including “Unbeatable Protection” and “Unbeatable Freshness,” that it says are misleading or false. This is because explanations of the claims are limited, the complaint alleges, and their application Read more
SoClean CPAP Cleaning Devices Produce Ozone Texas Class Action
SoClean, Inc. makes devices to clean continuous positive airway pressure (CPAP) machines. But the complaint for this class action alleges that SoClean uses ozone for cleaning, and that it makes false statements about both this toxic gas and its devices, misrepresenting their potential dangers to humans. Read more
GTT Securities Litigation Settlement
GTT Communications, Inc. is paying $25 million to resolve a class action alleging it violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and the associated Rule 10b-5. The case relates to GTT’s acquisition of Interoute Communications Holdings SA, a European telecommunications company. The complaint alleged that GTT made false and misleading Read more
Wells Fargo Reg E Ambiguous Disclosures California Class Action
Wells Fargo & Company and Wells Fargo Bank, NA violate Federal Reserve Regulation E, says the complaint for this class action. What is Reg E? It sets forth requirements that banks must meet before charging customers overdraft fees on one-time debit card or ATM transactions. The complaint alleges that Wells Fargo’s disclosures are ambiguous and Read more
Match Group Fake Love Interest Ads and Securities Prices Class Action
Where do securities and love intersect? In this complaint, which alleges that Match Group, Inc., the dating and matchmaking company, violated the Securities Exchange Act of 1934. The complaint claims the company made false or misleading statements to investors and failed to disclose adverse information, in order to boost the price of its securities. Read more
Conestoga Life Settlements Information to Investors Fraud Class Action
“A life settlement is a transaction in which an insured person sells his or her life insurance policy to a third party,” explains the complaint for this class action. Life settlements are at issue in this case for “fraud, conspiracy, aiding and abetting, civil theft, and breach of fiduciary duty,” against defendants Conestoga Settlement Services, Read more
Secondary Responsibility for Losses in Aequitas Securities Class Action
How is it that a company touted as a stable, secure investment “collapsed in spectacular fashion and was shut down by the Securities and Exchange Commission” (SEC)? Aequitas did so, losing its investors hundreds of millions of dollars. The complaint for this class action alleges that secondary responsibility for the losses belongs to other companies Read more
UDF III Fake Distributions and Investment Fraud Class Action
This class action concerns investment offerings known as United Development Funding (UDF), and specifically UDF III. The complaint alleges that the defendants made false statements about UDF III’s success to induce people to invest or to invest more. It backed up the false statements by distributions—which, according to the complaint, were not in fact earnings Read more
MoneyGram (MGI) Misleading Info on Anti-Fraud Efforts Securities Class Action
As the world has become smaller via electronic transactions, fraud and money laundering have become more of a concern for regulators. The complaint for this securities class action claims that MoneyGram International, Inc. provided false or misleading information to shareholders about its fraud- and money laundering-prevention measures. Read more
