Investors say EquipmentShare failed to disclose related-party transactions that reportedly benefited companies linked to its founders to the tune of some $77 million.
SAN FRANCISCO — A federal court in California dismissed two pump-and-dump investment scheme victims’ lawsuits against Meta, whose platforms Facebook, Instagram and WhatsApp facilitated the Chinese penny-stock schemes. The claims are barred by the Securities Litigation Uniform Standards Act, which deprives the court of jurisdiction over the claims.
Regeneron executives touted its cancer treatment as a “potential blockbuster,” as clinical trial results did not find the drug combination as effective as publicized.
A federal judge previously ruled victims of a similar investment scheme lacked standing to sue Meta under the Securities Litigation Uniform Standards Act.
The judge rejected Musk’s bid to set aside the verdict in most respects, but he did side with the world's richest man as to the effect of one tweet he sent on May 17, 2022.
A Michigan public pension fund claims Oracle had to increase its debt to meet commitments to OpenAI when the AI giant had its own shortfalls, without notifying investors of the risk.
Citadel Securities and Virtu Americas are accused of manipulating the share price of the education technology company Genius.
Shareholders complain the company kept mum about the $270 million in fines it faces, which caused its stock to lose more than a quarter of its value in a single day.
The investors claim the former CEO and other high-ranking officers reassured them the company did not train AI models on copyrighted material, but later Adobe admitted to using copyrighted works.
The lower court found the investors failed to show iRobot knowingly made misleading statements about its failed Amazon merger.
The high court’s ruling broke from a trend of previous decisions cutting against the government’s power to strip wrongdoers of ill-gotten gains.
