Securities
Lilium (LILM) Misleading Statements and Investor Losses Class Action
Lilium NV (LILM) is working on “an electric vertical take-off-and-landing (‘eVTOL’) aircraft, the Lilium Jet” which is intended to offer high-speed air transportation. On September 14, 2021 it was created from a merger of Qell Acquisition Corp., a special-purpose acquisition company with Lilium GmbH. The complaint for this class action brings suit against Lilium and Read more
Deutsche Bank, Rabobank European Government Bond Trading Antitrust Class Action
This antitrust class action goes after two banks and their affiliated securities companies, alleging they conspired to fix or otherwise manipulate the price of Euro-denominated bonds that are issued by various European governments. The defendants include Deutsche Bank, AG and its dealer affiliate Deutsche Bank Securities, Inc., and Cooperative Rabobank UA (formerly known as Cooperatieve Read more
Sinovac (NASDAQ: SVA) Dilution of Stock to Go Private Class Action
This class action concerns stock ownership in Sinovac (NASDAQ: SVA), a vaccine company the complaint calls “the world’s single largest producer of Covid-19 vaccines.” It brings suit against Sinovac and its founder, president, CEO, and chairman Weidong Yin, for diluting the stock in trying take the company private. Read more
Argo (ARGO) Misleading Info About Reserves Securities Class Action
Argo Group International Holdings, Ltd. underwrites specialty insurance products, working with risk that is more complex than usual or more difficult to price. Having adequate reserves is therefore important for the company. This securities class action brings suit against Argo, along with five individuals, all current or former CEOs and CFOs of the company, alleging Read more
Opendoor (OPEN) Omissions About Algorithm Securities Class Action
Opendoor Technologies, Inc. was formed via a merger to operate a digital platform for flipping residential real estate. Unfortunately, the algorithm it was using to make its offers for homes was not adequate. The complaint for this securities class action alleges that the offering documents filed for the merger “were negligently prepared” and that they Read more
Coinbase’s Role and the Nature of Cryptocurrency Class Action
What exactly are cryptocurrencies? The complaint for this class action argues that they are securities, because their purchasers are hoping for their value to increase. It brings suit against Coinbase Global, Inc. and Coinbase, Inc., with the inciting incident being the breaching of a Coinbase account and the theft of funds, but it also brings Read more
Elon Musk Twitter Stock Price Manipulation Class Action
Elon Musk’s proposed buyout of Twitter has repeatedly been in the news, alternately seeming sure and in jeopardy. But the complaint for this class action brings suit on behalf of Twitter shareholders, against both Musk and Twitter, alleging that Musk has tried to manipulate the price of the stock and to deliberately depress it, harming Read more
BlockFi Crypto Interest Accounts Are Unregistered Securities, Says Class Action
This class action brings suit against a number of BlockFi entities—BlockFi, its parent BlockFI, Inc. (BFI), and affiliates BlockFi Trading, LLC and BlockFi Lending, LLC, for their BlockFi Interest Accounts or Crypto Interest Accounts (BIAs). The complaint alleges BIAs are unregistered securities that should have been registered with the Securities and Exchange Commission (SEC) and Read more
Cano Health (CANO) False or Misleading Reports and Stock Losses Class Action
As a public company, Cano Health, Inc. (NYSE: CANO) must make public filings with the Securities and Exchange Commission (SEC). The complaint for this class action alleges that Cano made false or misleading statements in its 2020-2021 filings, in violation of the Securities Exchange Act of 1934. Named as defendants in addition to the company Read more
Grab (GRAB) False or Misleading Statements and Stock Losses Class Action
Grab Holdings Limited (NASDAQ: GRAB) “became a public entity via a business combination with Altimeter Growth Corp.” on December 1, 2021. Yet by March 3, 2022, the complaint for this class action alleges, it was announcing a large loss. The complaint claims the company, along with its CEO and CFO, made “materially false and misleading Read more