Securities
GameStop Short Sellers Conspiracy to Stop Retail Buyers Antitrust Class Action
What was all that about GameStop trades? This antitrust class action centers on that story, bringing suit on behalf of small retail investors against a long list of defendants—brokerages, funds, and clearinghouses—with familiar names, such as Morgan Stanley Smith Barney, E*Trade, Robinhood, TD Ameritrade, and Charles Schwab. The complaint alleges that individual investors “were stripped Read more
SolarWinds (SWI) Public Statements and Losses to Investors Class Action
In December 2020, news emerged that hackers, possibly from the Russian government, had accessed US government and business systems through updates provided by a company called SolarWinds. This class action alleges that SolarWinds made false or misleading statements in its public filings that misled investors and inflated the price of SolarWinds securities. When information about Read more
Vega Capital London Manipulation of WTI Oil Futures Contracts Class Action
On April 20, 2020, on the New York Mercantile Exchange (NYMEX), the price of the West Texas Intermediate (WTI) light sweet crude oil futures contracts to expire in May were trading at negative $37.63 a barrel—meaning that sellers had to pay buyers to take the oil off their hands. The complaint for this class action Read more
EquiAlt Real Estate Securities Ponzi Scheme Class Action
The sales agents were unlicensed, the securities were unregistered, the investors were not accredited, and the investors’ money did not go where they thought it would go: This was EquiAlt and its Ponzi scheme, says the complaint for this class action. The first defendant is Paul Wassgren, who was a partner, at different times, at Read more
Insurance Office of America Inflated Securities RICO Class Action
This class action brings suit against Insurance Office of America, Inc. (IOA) and IOA Group, LLC, alleging that the company ran a Ponzi scheme that inflated stock prices. It also claims that the company defrauded its employees, customers, and independent sales agents and overbilled customers with fraudulent fees added to premiums. Read more
WeWork Investors Claim Company Misled Them Class Action
The fall of the We Company, also known as WeWork, was described as “one of the most spectacular flameouts in recent corporate history.” Its company valuation fell by 90% in a single year. This class action claims that WeWork misled the public about the company’s actions and intentions, violating the California Corporations Code. Read more
United States Oil Fund Investment Losses Investigation
Did you lose a large amount of money on your investment with the exchange-traded fund (ETF) United States Oil Fund, LP (USO)? Do your losses on this fund add up to $250,000 or more? We’re investigating whether certain statements made by USO in its March 2020 registration statement might have been false or misleading, giving Read more
Fidelity Life Mutual Conversion to Stock Ownership Class Action
When a mutual insurance company is converted to a stock insurance company, the plan may be complicated. The complaint for this class action alleges that when Fidelity Life Association underwent its conversion, the results were not what the mutual members believed would happen. The complaint brings suit against Fidelity Life and its Members Mutual Holding Read more
Security Benefit Life Insurance EIA Annuities False Illustrations RICO Class Action
This class action is about certain equity-indexed deferred annuities (EIAs) sold by Security Benefit Life Insurance Company. The complaint alleges that Secure Benefit provided deliberate misinformation on the annuities’ potential performance while rigging the rules for them so that they provided little or no return. The complaint alleges violations of the Racketeering Influenced and Corrupt Read more
Uniti Group (UNIT) Improper Spin-Off, Misleading Info Securities Class Action
Publicly-held companies—those who sell their stock to the general public—are required to make regular reports on those companies and to disseminate only truthful information about their practices, finances, condition, and other matters. The complaint for this class action alleges that Uniti Group and its CEO and CFO Read more