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Latest Finance News related to Class-action

UK court blocks £14bn class action case against MasterCard image
Source : Guardian [Read Article] Friday 21st of July 2017 10:39:18 PM
. A £14bn class-action lawsuit against MasterCard for allegedly overcharging more than 45 million people in Britain over a 16-year period was blocked by a British court on Friday. ...
Wells Fargo takes back $75m from ex-executives after fake accounts scandal image
....The report also says that problems in the bank’s sales culture date back to at least 2002 – far earlier than what the bank had previously said – and that Stumpf knew about sales problems at a branch in Colorado since at least that year. The bank has already paid $185m in fines to federal and local authorities and settled a $110m class-action lawsuit. ...
Vibrator maker ordered to pay out C$4m for tracking users' sexual activity image
....Sex toy maker We-Vibe has agreed to pay customers up to C$10,000 (£6,120) each after shipping a “smart vibrator” which tracked owners’ use without their knowledge. Following a class-action lawsuit in an Illinois federal court, We-Vibe’s parent company Standard Innovation has been ordered to pay a total of C$4m to owners, with those who used the vibrators associated app entitled to the full amount each. ...
Donations made using PayPal platform may never reach charities, lawsuit says image
. Charitable donations made through PayPal’s Giving Fund platform may never reach their intended recipients, a federal class-action lawsuit filed Tuesday in Chicago has alleged. ...
Rolls-Royce: questions remain despite £671m bribery settlement | Nils Pratley image
....7bn BAT injected to maintain its 42% holding after Reynolds’ takeover of Lorillard, another US fags firm, in 2015. Even so, the inflation in valuations shows what a wonderful investment Big Tobacco became once the threat of ruinous class-action litigation was removed. ...
Fiat Chrysler used software to cheat diesel emissions testing, EPA alleges image
Source : Guardian [Read Article] Thursday 12th of January 2017 05:16:43 PM
....Volkswagen was accused of using similar software on its own diesel vehicles to mask the emissions of the same greenhouse gas in September 2015. Multiple regulators slapped the automaker with $15bn in fines and consumers the world over filed class-action lawsuits against the firm. ...
VW executive charged with fraud in connection to emissions cheating image
Source : Guardian [Read Article] Monday 9th of January 2017 05:50:27 PM
....A Volkswagen spokesman, Mario Guerreiro, said the company “continues to cooperate with the Department of Justice as we work to resolve remaining matters in the United States”. Individuals affected the world over have filed class-action suits against the company since the scandal was first made public, most recently in the UK on Monday. ...
Sue your bank! Why it's better to go to court than to arbitrate in the long run image
.... Only 34% did not require binding arbitration, the Pew Charitable Trusts found in a survey last year, down from 38% in 2013. In plain English, that means you’re losing your right to join together with other bank customers who have been hit by the same kind of fees and push back against the policy in a class-action lawsuit. ...
Uber assembles advisory board of international power brokers image
Source : Guardian [Read Article] Thursday 5th of May 2016 04:35:51 PM
....This dazzling array of international influence should come in handy, given the company’s regular clashes with politicians, regulators and traditional taxi services. Uber is currently embroiled in multiple lawsuits, including class-action cases in the US from drivers who want to be recognised as employees and a price-fixing lawsuit from passengers. ...
A brief guide to everything that’s annoying about Apple image
Source : Guardian [Read Article] Wednesday 27th of April 2016 06:32:04 PM
....How many corporations possess and wield the power to criminally damage their products – your products – after they’ve sold them to you? Apple’s notorious “Error 53” punished users for the offence of going to “unauthorised” repairers by effectively shutting down their iPhone 6 handsets – a practice known as “bricking”. When a class-action lawsuit threatened, Apple got scared and backed down – a practice known as “bricking it”. ...
Uber reaches $100m settlement in fight with drivers, who will stay contractors image
. Uber has agreed to settle a class-action lawsuit with its California and Massachusetts drivers for up to $100m, avoiding a jury trial that could have reclassified contractors as employees and was expected to determine the fate of the so-called gig economy. ...
Jury: GM sold car with faulty ignition switch but is not at fault for 2014 crash image
.... The carmaker has admitted that some of its employees knew about the problems as early as 2001, but failed to flag it as a safety issue and order a recall. In September, GM announced it had settled 1,385 death and injury cases for $275m and a class-action shareholders’ lawsuit for $300m. ...
VW investors file multi-billion dollar suit in Germany image
Source : Guardian [Read Article] Tuesday 15th of March 2016 12:45:10 AM
....Volkswagen earlier this month published an account of the events leading to the violation of US emissions law being publicly announced by the US Environmental Protection Agency. The law firm has also filed a motion for a so-called model claims, a German legal procedure which – for lack of US style class-action lawsuits – uses court rulings won by individual investors as templates to set damages for others that are equally affected. ...
Fired employee says Volkswagen deleted documents about emissions tests image
.... But its conviction was overturned by the supreme court in 2005, which ruled the judge’s instructions to the jury were too vague for jurors to determine correctly whether Andersen obstructed justice. VW already faces the potential for over $20bn in fines from the government for the pollution violations, as well as hundreds of class-action lawsuits from angry vehicle owners. ...
Volkswagen pressed to fix dirty diesel cars in emissions cheat scandal image
Source : Guardian [Read Article] Thursday 25th of February 2016 09:24:57 PM
....Hundreds of lawsuits have been filed against Volkswagen over its cheating software. The class-action suits are consolidated in the court of Breyer, who is the brother of US supreme court Justice Stephen Breyer. ...
Seattle law firm files first lawsuit against Apple over iPhone 'error 53' image
Source : Guardian [Read Article] Friday 12th of February 2016 11:51:00 PM
....A Seattle-based law firm has filed the first legal action against Apple after the Guardian revealed how the technology giant has been deliberately “killing” its customers’ iPhone 6s if they have had them repaired by a third party. Law firm PCVA said on Friday that it had brought a class-action lawsuit in the US district court for the northern district of California in response to Apple’s “error 53” iPhone controversy. ...
Quindell owner in debt restructuring talks image
Source : Telegraph [Read Article] Saturday 30th of January 2016 08:08:52 PM
.... . Lenders to Slater & Gordon, Australia’s largest class-action law firm, have hired turnaround experts FTI Consulting in the UK as its problems mount following the company’s shock takeover of Quindell’s legal arm last year. ...
Quindell’s spectre still looms large for its ill-fated Aussie owners image
Source : Telegraph [Read Article] Saturday 30th of January 2016 04:44:04 PM
.... Apparently not. Last summer, Australia’s largest class-action law firm shocked the City when it swooped in and snapped up the legal arm of Quindell, the insurance claims processing company that was seemingly coming apart at the seams. ...
Volkswagen boss apologises to America for cheating diesel emissions tests image
....Civil penalties in the United States could run well above $20bn. Volkswagen also faces a costly recall, and at least 650 class-action lawsuits from disgruntled US customers. ...
CEO of Kind bars plays nice while fighting for new food label rules image
Source : Guardian [Read Article] Saturday 9th of January 2016 02:00:16 PM
.... FDA staff will now evaluate the petition, a process that the agency says may take several weeks to more than a year. Kind even faces a class-action lawsuit around its labeling. ...
VW promises emissions fix 'soon' image
Source : BBC [Read Article] Wednesday 6th of January 2016 09:38:09 PM
....On Monday, the US Justice Department filed a lawsuit against VW for the use of the emissions devices, which involve computer software that can detect when cars are being tested. The company and its executives could still face separate criminal charges, while a raft of private class-action lawsuits filed by angry VW owners are pending. ...
VW shares slide after US Department of Justice files lawsuit image
Source : Guardian [Read Article] Tuesday 5th of January 2016 10:19:08 AM
....9bn) to deal with the costs of recalling and fixing cars after the scandal erupted in September, but the ultimate costs to the company are expected to be considerably higher. A number of private class-action lawsuits filed by angry VW owners is also pending. ...
VW sued by US justice department image
Source : BBC [Read Article] Monday 4th of January 2016 06:26:13 PM
....The department said the filing was just the first step in "bringing Volkswagen to justice". The carmaker is also facing separate criminal charges, and a raft of class-action lawsuits filed by VW owners. ...
Slater & Gordon faces class action suit over Quindell division purchase image
Source : Telegraph [Read Article] Wednesday 23rd of December 2015 09:09:53 AM
. Australia’s largest class-action law firm, Slater & Gordon, could be sued by the country’s second largest class-action firm over its lacklustre performance and huge share price losses. ...
International Energy Agency sees 'peak coal' as demand for fossil fuel crumbles in China image
.... So is the Church of England. Private banks are becoming wary of the sector, given the tail-risk of class-action “climate lawsuits”. ...
Tesco agrees $12m payout to US shareholders over accounting scandal image
Source : Guardian [Read Article] Thursday 26th of November 2015 01:02:30 AM
....Related: Tesco faces US lawsuit over profit overstatement. The US settlement covers investors led by Stephen Klug, who sought class-action status on behalf of those who acquired Tesco’s ADRs and “F-shares” between 18 April 2012 and 22 September 2014. ...
VW chief promises 'ruthless' crackdown on culprits of emissions scandal image
Source : Guardian [Read Article] Wednesday 28th of October 2015 08:42:11 AM
.... Müller was unable quantify potential penalties and litigation costs. Analysts estimate that Volkswagen’s final bill could climb to €78bn as it faces regulatory fines and class-action lawsuits around the world. ...
Apple faces class action lawsuit over Wi-Fi assist data usage image
Source : Guardian [Read Article] Monday 26th of October 2015 09:14:59 AM
.... As a result, users have reported accidentally running up large bills for mobile-data usage when they used their phones while believing they were on their home Wi-Fi. Now, AppleInsider reports that a California couple has launched a class-action lawsuit after they received one such overage bill, arguing that Apple should reimburse affected customers. ...
Chipotle's silence on sustainability practices make it a target for CSR advocates image
....Chipotle is getting heat from critics on the left as well. Trial lawyers recently filed a class-action lawsuit alleging that Chipotle’s claim that it does not serve genetically modified organisms, or GMOs, is “deceptive and misleading”. ...
Volkswagen's lost opportunity will change the car industry image
Source : Guardian [Read Article] Sunday 18th of October 2015 01:52:27 PM
.... In Italy and Germany, the police have searched offices and private homes to secure relevant documents. There is talk of consumer class-action suits around the world, from the US to Australia. ...
Volkswagen faces potential class-action lawsuits over emissions scandal image
Source : Guardian [Read Article] Thursday 15th of October 2015 10:54:36 PM
. Several potential class-action lawsuits have been filed in Michigan against Volkswagen over the company’s diesel emissions scandal, as US regulators ratcheted up questioning of the auto giant. ...
Volkswagen: secret emissions tool in 2016 cars is separate from 'defeat' cheat image
.... Diesel versions of the Passat sedan manufactured at the company’s plant in Chattanooga, Tennessee, also are on hold. Volkswagen already faces a criminal investigation and billions of dollars in fines for violating the Clean Air Act for its earlier emissions cheat, as well as a raft of state investigations and class-action lawsuits filed on behalf of customers. ...
Experian hack raises doubts about security of credit database, advocates say image
....Experian has said that the hack was at a subsidiary, identified by the company as Decisioning Solutions, which it acquired in 2013. At least five different groups of litigants are currently seeking class-action status; some are against Experian and some are against T-Mobile. ...
VW's new chief could visit US this week image
Source : Guardian [Read Article] Sunday 4th of October 2015 05:17:18 PM
.... The company faces a regulatory fine of $18bn (£11. 8bn) in the US, as well as a number of class-action lawsuits and criminal investigations around the world. ...
UK government wrong to subsidise diesel, says former minister image
Source : Guardian [Read Article] Thursday 1st of October 2015 07:58:32 AM
....Drayson’s comments came as the updated UK consumer rights act took effect. It opens the door to US-style class-action lawsuits, by introducing an “opt-out” scheme meaning that everyone affected is automatically a member of the “class” which is suing. ...
The unanswered VW questions image
Source : BBC [Read Article] Wednesday 30th of September 2015 10:57:20 AM
....Private law firms have already reportedly filed dozens of lawsuits in the US on behalf of VW owners. But eventually hundreds of class-action lawsuits are expected to follow. ...
VW urged to come clean over which UK diesel vehicles are affected image
Source : Guardian [Read Article] Sunday 27th of September 2015 01:00:20 PM
.... As well as a US regulatory penalty of $18bn (£11. 8bn), the company faces multibillion-pound class-action lawsuits from customers and possibly shareholders. ...
Bill Gates sues oil giant Petrobras and PwC over corruption scandal image
Source : Telegraph [Read Article] Friday 25th of September 2015 08:32:04 PM
.... . The Gates litigation follows a class-action suit in New York by a group of investors against Petrobras. ...
Volkswagen scandal – seven days that rocked the German carmaker image
Source : Guardian [Read Article] Friday 25th of September 2015 06:32:40 PM
.... He walks away with a €28m pension pot. Lawyers start to circle: several class-action lawsuits are filed in the US and Canada, with UK firms saying they are preparing for similar cases here on behalf of VW owners. ...
VW faces deluge of UK legal claims over emissions tests image
Source : Guardian [Read Article] Thursday 24th of September 2015 11:51:26 AM
....The German transport minister, Alexander Dobrindt, has confirmed that Volkswagen vehicles containing software to fix emissions standards were sold across Europe. Young said a class-action lawsuit was possible: “If the Volkswagen scandal applies to cars in the UK then this has the potential to be one of the largest group action lawsuits this country has seen. ...
VW emissions scandal could snare other firms, whistleblower claims image
Source : Guardian [Read Article] Monday 21st of September 2015 06:50:29 PM
....6bn), criminal charges for its executives, and legal action from customers and shareholders. The US law firm Hagens Berman has already launched a class-action law suit on behalf of customers who bought the affected cars. ...
VW boss 'to back' German inquiry image
Source : BBC [Read Article] Monday 21st of September 2015 06:08:51 PM
....VW had been promoting its diesel cars in the US as being better for the environment. The US law firm Hagens Berman is launching a class-action suit against VW on behalf of people who bought the relevant cars. ...
VW shares plunge 18% on exhaust scandal image
Source : BBC [Read Article] Monday 21st of September 2015 07:21:24 AM
....VW had been promoting its diesel cars in the US as being better for the environment. The US law firm Hagens Berman is launching a class-action suit against VW on behalf of people who bought the relevant cars. ...
Ashley Madison founder and chief executive Noel Biderman quits following hack image
.... . The company is now facing a $578m class-action lawsuit by Charney Lawyers and Sutts, Strosberg LLP, two Canadian firms representing users who accuse the company of failing to sufficiently protect their private data. ...
World's biggest car makers sued over 'deadly' keyless ignitions image
Source : Guardian [Read Article] Thursday 27th of August 2015 04:05:43 AM
....Unintentional carbon monoxide poisoning kills about 430 people a year in the US, says the Centres for Disease Control and Prevention. The lawsuit seeks class-action status, and an injunction requiring car-makers to install automatic shut-off features on all existing and future vehicles sold with keyless ignitions. ...
Ashley Madison faces huge lawsuit image
Source : BBC [Read Article] Sunday 23rd of August 2015 10:00:41 AM
. Ashley Madison is facing a C$760m ($576m; £367m) class-action lawsuit after customer data from the infidelity dating website was leaked onto the so-called dark web last week. ...
Olsen twins interns do double-take over work schedule image
Source : Guardian [Read Article] Wednesday 12th of August 2015 04:40:47 PM
....So when they hired interns for their Dualstar Entertainment Group production company, they may well have assumed every self-respecting young professional starting out in their career had a twin or doppelganger of some kind with whom to share her workload. That might explain why approximately 40 current and former interns have filed a class-action lawsuit in Manhattan supreme court alleging exploitative conditions, including 50-hour workweeks, without pay or academic credit. ...
Tobacco giants to contest court ruling to pay £8bn damages image
Source : Independent [Read Article] Wednesday 3rd of June 2015 01:04:37 AM
....The plaintiffs represented almost a million smokers whose habit had led to throat cancer, lung cancer or emphysema, and who argued that the firms had failed to warn them of the health risks associated with smoking. The decision came at the climax of two class-action lawsuits originally brought in 1998 against Imperial Tobacco Canada, owned by British American Tobacco; Rothmans, Benson & Hedges, owned by Philip Morris; and Japan Tobacco’s JTI-MacDonald. ...
Tobacco giants vow to fight Canadian judgment handing C$15bn to smokers image
....2bn) in damages. Quebec superior court justice Brian Riordan said the companies had put profits before the health of their customers, as he issued his long-awaited decision in what is thought to be Canada’s largest class-action lawsuit. ...
Canada tobacco firms to pay damages image
Source : BBC [Read Article] Monday 1st of June 2015 11:04:38 PM
....Imperial Tobacco Canada, Rothmans Benson & Hedges and JTI-MacDonald vowed to appeal against the decision. The class-action lawsuits were filed in 1998, but only recently went to trial in the courts. ...
Banks brace for more foreign exchange rigging pain as civil lawsuits come forth image
. Banks are bracing for hundreds of millions of pounds in new claims for foreign exchange manipulation from class-action lawsuits triggered by last week’s vast market rigging fines. ...
Nasdaq sets aside $31m to compensate investors in botched $16bn Facebook IPO image
.... . Nasdaq OMX Group’s “loss reserve” is intended to cover class-action litigation from investors who held Facebook shares when it floated on the US stock market, the company said in financial results released on Thursday. ...
How regulators have cracked down on high frequency traders image
Source : Telegraph [Read Article] Wednesday 22nd of April 2015 04:25:08 PM
.... . The lawsuit seeks class-action status for customers in financial futures contracts, and agricultural, energy, metal, equity index, foreign exchange and interest rate futures and options contracts. ...
Source : BBC [Read Article] Monday 30th of March 2015 06:46:36 PM
....In California, Silicon Valley has been gripped by a sexual discrimination case brought by Reddit boss Ellen Pao against her former employer, venture capitalist Kleiner Perkins. Two separate class-action lawsuits have also been filed against Facebook and Twitter, alleging lack of promotion on the ground of gender. ...
The Interview: Obama hails move to screen North Korea film image
Source : BBC [Read Article] Wednesday 24th of December 2014 02:40:06 AM
....Sony Pictures Entertainment has been hit hard - first by the embarrassment of personal emails being dumped online. But as the seriousness of the cyber-attack unfolded, it also became clear that the personal details of thousands of staff and former-employees had been stolen - opening the door to class-action lawsuits. ...
The Interview: Sony's North Korea film to be screened in US image
Source : BBC [Read Article] Tuesday 23rd of December 2014 06:25:07 PM
....Sony Pictures Entertainment has been hit hard - first by the embarrassment of personal emails being dumped online. But as the seriousness of the cyber-attack unfolded, it also became clear that the personal details of thousands of staff and former-employees had been stolen - opening the door to class-action lawsuits. ...
Walmart ordered to pay $188 million over staff breaks image
Source : Independent [Read Article] Tuesday 16th of December 2014 04:25:27 PM
. American retail giant Walmart has been ordered to pay more than $180 million to settle a class-action lawsuit by employees who claimed they were routinely barred from taking taking their full meal and rest break. ...
Shareholders poised to sue Tesco over losses from profits scandal image
Source : Independent [Read Article] Wednesday 26th of November 2014 02:06:52 AM
....The Serious Fraud Office is currently investigating Tesco’s actions. Unlike in the US, there is no provision under English law for class-action lawsuits, where thousands of people can bring one big claim. ...
Suddenly Swiss banks are not being regulated gently. How they hate it image
Source : Independent [Read Article] Friday 31st of October 2014 11:14:03 PM
....  . That’s before we’ve even started talking about the rash of class-action lawsuits on behalf of anyone who might have been momentarily disadvantaged by the banks’ actions. ...
EXCLUSIVE: BP loses court battle over Mexico Gulf oil spill claims image
Source : Independent [Read Article] Thursday 16th of October 2014 11:11:34 AM
....Westminster Council, the Royal Borough of Kensington and Chelsea and dozens of other pension funds are suing for compensation due to the collapse in the price of both BP shares traded in London and its New York Stock Exchange shares known as American Depository Receipts. The British investors are being represented by the class-action lawsuit specialist Pomerantz Law, whose partner, Jeremy Lieberman, said of the judgements: “These decisions are ground-breaking. ...
Barclays pays $20m to settle US class-action lawsuit over Libor fixing image
Source : Independent [Read Article] Wednesday 8th of October 2014 11:35:24 PM
....US and British authorities have charged several people and extracted billions of dollars in fines from banks stemming from alleged manipulation of Libor and related rates. Barclays class-action settlement covers anyone who transacted in Libor-based Eurodollar futures contracts or options on exchanges such as the Chicago Mercantile Exchange between 1 January 2005, and 31 May 2010. ...
Employers often reject those who strike or protest: 'I am willing to do whatever it takes to lead a better life' image
....”. Since then, Daniels has joined a class-action lawsuit against the Census Bureau, claiming that its policy of not hiring people with arrest record counts as discrimination against minorities. ...
Home Depot: US states begin probe over huge data breach image
Source : BBC [Read Article] Tuesday 9th of September 2014 11:08:13 PM
....The malware, known as BlackPOS, siphoned data from cards when they were swiped at infected cash registers running Windows. Meanwhile, Illinois resident Kelsey O'Brien has filed a lawsuit, seeking class-action status, compensatory and punitive damages and credit card monitoring services. ...
UBS and Deutsche Bank embroiled in 'dark pool' probe image
Source : Independent [Read Article] Tuesday 29th of July 2014 11:17:58 AM
....UBS, fined nearly £1 billion for its central role in Libor interest-rate fixing, today said it was “responding to inquiries” from US regulators as well as the New York Attorney General, Eric Schneiderman, over the operation of its “dark pool”. It also admitted to being named alongside “dozens” of others — including high-frequency traders, brokers and other “dark-pool sponsors” — in a number of class-action lawsuits filed by investors in the US. ...
Banks accused of rigging silver price image
Source : BBC [Read Article] Sunday 27th of July 2014 11:24:48 AM
....". He is hoping other investors will come forward to launch a class-action lawsuit. ...
Chain smoker's widow awarded $23bn in punitive damages in Florida image
Source : Guardian [Read Article] Sunday 20th of July 2014 02:12:23 AM
....“They lied to Congress, they lied to the public, they lied to smokers and tried to blamed the smoker,” he said. Robinson's lawsuit originally was part of a large class-action litigation known as the “Engle case”, filed in 1994 against tobacco companies. ...
Apple agrees to pay $400m in ebook price-fixing case image
Source : Telegraph [Read Article] Wednesday 16th of July 2014 08:26:57 PM
.... . A separate settlement in a class-action case against Apple could add around $30m to the amount to be paid out by the Californian tech giant. ...
Amazon sued over Kindle in-app purchases image
Source : Telegraph [Read Article] Thursday 10th of July 2014 09:05:43 PM
.... Apple complained at the time. Tim Cook, chief executive, explained to employees in a memo that the settlement did not require the company to do anything it wasn't doing already but he added that it "smacked of double jeopardy" because Apple had already settled a similar class-action lawsuit in which it agreed to refunds. ...
UK pension funds join class action against BP image
Source : Telegraph [Read Article] Friday 4th of July 2014 05:19:55 PM
.... . The funds have reportedly joined a class-action lawsuit against BP over the collapse of its share price following the Deepwater Horizon disaster. ...
BP gulf disaster: Pension funds line up to sue oil giant in Texas image
Source : Independent [Read Article] Friday 4th of July 2014 12:45:27 PM
.... . The class-action lawsuit specialist Pomerantz Law has assembled 32 major BP shareholders from around the world to sue for the losses incurred on the shares they bought before the 2010 Deepwater Horizon disaster, which led to 11 deaths and happened under the stewardship of then chief executive Tony Hayward. ...
Herbalife boasts big rewards for sellers but is it a pyramid scheme? image
Source : Telegraph [Read Article] Monday 30th of June 2014 10:01:13 AM
.... Over the years, it has been dogged by controversy. In the US, the California Attorney General sued Herbalife in the mid-Eighties for making inflated claims about its products and the company has faced a number of class-action lawsuits. ...
Vibram in $3.75m settlement over false health claims image
Source : BBC [Read Article] Thursday 8th of May 2014 07:40:00 PM
....75m (£2. 2m) class-action settlement. ...
Target's chief executive resigns image
Source : BBC [Read Article] Monday 5th of May 2014 12:37:03 PM
....It is being sued by at least 11 customers over the security breach. The lawsuits, each seeking class-action status, were filed in US courts. ...

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