Tag: Settlements

Under Armour Securities Suit Settles for $434 Million | The D&O Diary

Just weeks before trial in the case was scheduled to being, the parties to the Under Armor securities class action lawsuit have agreed to settle the case for $434 million, according a company SEC filing. The case had recently survived the defendants’ motion for summary judgment. According to the lead plaintiffs’ counsel, the settlement represents the second-largest securities suit settlement…

Read More

Pfizer wants the $75 mln left from SAC Capital’s insider trading settlement with SEC | Reuters

Pharma company Pfizer told a New York federal judge on Monday that it is entitled to recoup about $75 million from the U.S. Securities and Exchange Commission’s $600 million settlement with now-shuttered hedge fund SAC Capital because it was victimized by SAC’s insider trading. The SEC said in March that the $75 million was left over after the distribution of…

Read More

SEC Charges Former BP Senior Manager with Insider Trading

The Securities and Exchange Commission today charged Chicago-area resident Kevin Crotty with insider trading ahead of a February 16, 2023 announcement that BP p.l.c. agreed to acquire TravelCenters of America Inc.  This is the second insider trading case the SEC has brought in connection with trading ahead of the announcement of BP’s acquisition of TravelCenters. According to the SEC’s complaint,…

Read More

SEC Obtains Judgment After Executives Settle Case Alleging an Inflated Truck Pricing Scheme

The SEC’s complaint alleged that Meek, the former president and chief operating officer of Celadon Group, Inc., and Peavler, the former chief financial officer of Celadon Group Inc., participated in a scheme to buy and sell trucks at inflated prices, in some cases double or triple the trucks’ fair market value. The complaint alleged these transactions were intended to conceal…

Read More

The Top 50 of 2022 | ISS

In this report, ISS SCAS reviews the securities-related settlements of 2022 and ranks the Top 50 plaintiffs’ securities firms by aggregate settlement amount achieved for shareholders. For the calendar year 2022, ISS Securities Class Action Services (ISS SCAS) recorded 143 approved securities class action settlements within North America. Collectively, 2022 delivered $4.87 billion in settlement funds for distribution, an increase…

Read More

The Largest Class Action Settlements of 2022

In a remarkable year of class action activity, investors across the globe agreed to settlements totaling over $7.4 billion[1] in 2022, a greater than 75% increase from 2021…. *** Of the top ten U.S. settlements listed, three occurred in the Southern District of New York, while two occurred in the Northern District of California. Five other court venues were represented…

Read More