Cornell Capital LLC, the former owner of Instant Brands, was accused of misleading lenders about the company’s performance in order to extract a $345 million dividend that helped drive the Instant Pot maker into bankruptcy. A trustee filed suit Wednesday …
Chipotle Mexican Grill was sued on Monday by shareholders for concealing how many of its restaurants were skimping on portions, forcing the chain to spend more on ingredients and hurting its stock price. In a proposed class action filed in …
FTX filed a lawsuit against Binance Holdings Ltd. and its former Chief Executive Officer Changpeng Zhao, seeking to claw back almost $1.8 billion it alleges was fraudulently transferred by Sam Bankman-Fried. Binance, Zhao and other Binance executives received the funds …
A federal judge said Meta Platforms CEO Mark Zuckerberg is not personally liable in 25 lawsuits accusing his company of addicting children to social media. U.S. District Judge Yvonne Gonzalez Rogers in Oakland, California rejected accusations on Thursday that Zuckerberg …
A U.S. judge on Thursday dismissed some claims in a lawsuit accusing Rio Tinto and its former CEO Jean-Sebastien Jacques of defrauding investors by concealing problems developing the $5.3 billion Oyu Tolgoi copper and gold mine in Mongolia. U.S. District …
The U.S. Supreme Court grappled on Wednesday over a bid by Meta’s Facebook to scuttle a federal securities fraud lawsuit brought by shareholders who accused the social media platform of misleading them about the misuse of its user data. The …
The U.S. Supreme Court is set to consider bids by two tech giants – Meta’s Facebook and Nvidia – to fend off federal securities fraud lawsuits in separate cases that could make it harder for private litigants to hold companies …
A former Avenue Capital Group employee accused by Marc Lasry in a recent court filing of trying to extort him for $50 million has hit back with a lawsuit of her own. Gina Strum, who worked in business development at …
The sex-for-investment scandal that swiftly deposed Australian tech billionaire Richard White is just the latest corporate calamity in a country fast losing its reputation as a tightly-regulated market with strict governance standards. More than A$7.7 billion ($5.1 billion) of market …
Video-game developer FractureLabs filed a lawsuit against Jump Trading, accusing one of the cryptocurrency industry’s biggest market makers of “fraud and deceit” by manipulating the price of a token used in an online game. According to the suit, FractureLabs planned …