Rio Tinto Bribery for Guinea Iron Ore Mining Concessions Securities Class Action

Simandou is a mountain that is rich in minerals, but it is in the interior of Guinea, a West African country that by some accounts is one of the most corrupt places in the world. The complaint for this class action claims that Rio Tinto PLC became anxious when some of its mining rights were  Read more

Mine on Simandou

New Oriental Education & Tech University Application Fakery Securities Class Action

A subsidiary of the New Oriental Education & Technology Group, Inc. helps students in the People’s Republic of China apply to foreign universities. But according to the complaint for this class action, this subsidiary actually writes application materials and handles the whole application process, sometimes fabricating information. This is fraud, the complaint claims, and not  Read more

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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

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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

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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

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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

Illumina NextSeq 550

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

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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

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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

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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

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