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Securities
Meta likely to dodge suits over WhatsApp investment scams
A federal judge previously ruled victims of a similar investment scheme lacked standing to sue Meta under the Securities Litigation Uniform Standards Act.
Judge scraps Musk’s attempt to toss Twitter fraud verdict
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.
Investors claim Oracle misled them over OpenAI deal
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.
Investor accuses financial firms of 'spoofing' tech company's stock
Citadel Securities and Virtu Americas are accused of manipulating the share price of the education technology company Genius.
Investors accuse Hong Kong company of hiding costs of Chinese regulatory crackdown
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.
Investors sue Adobe execs over AI copyright statements
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.
First Circuit revives investor suit against Roomba maker after Amazon buyout flop
The lower court found the investors failed to show iRobot knowingly made misleading statements about its failed Amazon merger.
Justices preserve SEC authority to claw back illicit funds in fraud cases
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.
Investors accuse sports betting biz Sportradar of lying about black market dealings
Market researchers said Sportradar used black market gambling partners to drive a significant portion of its revenue.
Boeing seeks severance of investor class in Fourth Circuit
The aircraft company claims the investors failed to provide the court with a methodology for calculating the damages associated with the inflation of stock prices resulting from fraudulent promises of increased safety.
Judge approves $100M borrowers fund, $85M settlement in Wells Fargo diversity quota scandal
The $100 million borrowers fund will provide low- to moderate-income homebuyers with money for down payments and closing costs.