People’s United Jay Peak Ski Resort Ponzi Scheme Class Action

Investors bring this class action against companies they believed would build a Jay Peak Ski Resort in Vermont—People’s United Financial, Inc. and People’s United Bank. But according to the complaint, the money they put up went to an alleged Ponzi scheme, finally uncovered in a two-year investigation by the Securities and Exchange Commission (SEC).  Read more

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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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General Cable Bribery of Foreign Officials FCPA Securities Class Action

The Foreign Corrupt Practices Act (FCPA) forbids US companies from engaging in corruption, even outside the US. The complaint for this class action claims that General Cable Corporation paid bribes in six different countries, generating millions of dollars through means that were unsustainable and likely to lead to regulatory scrutiny. Because this is a securities  Read more

General Cable Products

Citizens Schemes to Sell Insurance to Foreigners Securities Class Action

The complaint for this class action alleges that Citizens, Inc. sells insurance policies in foreign countries in order to evade US regulations. It claims that it uses improper growth projections to enroll customers in programs where dividends are used to buy the company’s stock, and sells policies that require payment of US taxes as if  Read more

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Sinovac Biotech Alleged CEO Bribery Causes Stock Losses Securities Class Action

Bribery and corruption are secretive activities, but securities laws still require the honest reporting of these actions. According to the complaint for this class action, Sinovac Biotech Ltd. violated the Securities Exchange Act of 1934 by not reporting an instance of bribery by the company’s CEO, Weidong Yin. An analyst company’s accusation about the bribery  Read more

Was Crypto’s 17,000% Rise in Share Value a Result of Stock Manipulation?

The complaint for this class action claims that the 17,000% surge in the value of The Crypto Company’s stock was caused by manipulation and that the company did not disclose this to investors. It quotes company filings that speak of control of company financial reporting, and then cites the SEC’s decision to suspend trading in  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