fbpx

Overstock.com Digital Coins and Blockchain Blunders Securities Class Action

Overstock.com, Inc., an online retailer announces that it is going into digital currencies—and its stock rises more than 500% in five months. Is this a rise in real value? No, the complaint for this class action says, and alleges that the company was in violation of the Securities Exchange Act of 1934 because it did  Read more

White Chair from Overstock.com

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

TG Therapeutics Shortened Drug Trial Securities Class Action

Why did TG Therapeutics, Inc. abandon part of its new drug study? The complaint for this securities class action doesn’t answer that question, but it quotes an investor publication that is scathing in its evaluation of the effects. The complaint claims that the company’s positive statements about the drug’s trial during the class period did  Read more

Street Sign for Wall Street

Inotek Drug Fails Despite “Successful” Trials Securities Class Action

Inotek Pharmaceuticals Corporation was working on two different treatments with its most promising drug, but the complaint for this securities class action claims that the company made false or misleading statements during its studies, in violation of the Securities Exchange Act of 1934. The company indicated that earlier trials were “successful” but the drug was  Read more

Inotek Logo

Seattle Genetics Hid Drug’s Toxicity to Liver, Says Securities Class Action

According to the complaint for this securities class action, Seattle Genetics, Inc. touted the technology in its new drug candidate SGN-CD33A, claiming that it was more effective and did not have the health risks of earlier, similar drugs. These statements were false or misleading, the complaint claims, and they were violations of the Securities Exchange  Read more

Seattle Genetics Building

Ophthotech AMD Drug Shows No Significant Difference Securities Class Action

The complaint for this securities class action claims that Ophthotech artificially inflated its stock price by making overly positive statements about its lead drug candidate, in violation of the Securities Exchange Act of 1934. When the final results of its Phase 3 trials emerged, showing no significant effects, the stock’s fall was swift and sharp,  Read more

Image of Macular Degeneration

Facebook Leak of 50 Million Users’ Data Securities Class Action

Facebook had over 2.2 billion users as of the end of 2017. The complaint for this securities class action claims that Facebook did not protect these users’ privacy according to its own policies, violating the Securities Exchange Act of 1934 and making it possible for companies to lift data for their own purposes. The complaint  Read more

Silhouettes of Users Against Facebook Logo

A10 Networks Improper Revenue Recognition Securities Class Action

Accounting rules set guidelines for recognizing revenues, but it seems companies are still tempted to boost figures by recognizing revenue before it’s earned. The complaint for this securities class action claims that A10 Networks, Inc. inflated its stock price by improperly recognizing revenue in its public statements, in violation of the Securities Exchange Act of  Read more

A 10 Logo on Building

KemPharm Did Not Prove Apadaz to Be Abuse-Deterrent Securities Class Action

This securities class action alleges that KemPharm should have considered Food and Drug Administration (FDA) guidance when designing studies for its lead product candidate, an opioid painkiller the company hoped would be labeled as abuse-deterrent. Ignoring those guidelines, the complaint says, made it unlikely that the drug would get the approval it needed and made  Read more

KemPharm Logo

Novo Nordisk Paid Kickbacks, Denied Pricing Pressure, Says Securities Class Action

Pharmacy benefit managers (PBMs) stand between drug makers and health insurers and can choose what goes into a formulary, or list of drugs covered by the insurer. The complaint for this securities class action alleges that Novo Nordisk paid kickbacks to PBMs to include its insulin drugs in formularies and then kept its prices high  Read more

Novo Nordisk Company Flag