Financial Recovery Technologies Fast Five provides you with the top news in shareholder class actions. Stay up-to-date on the latest developments in settled (U.S./Canada) claims filing opportunities, Antitrust settlements, Global Group Litigation matters and more. For more information, contact your Financial Recovery Technologies representative or email us.
Lyft Inc. shareholders who accused the company’s leadership of misleading them about customer and worker problems ahead of its 2019 public offering secured lead counsel for their newly consolidated suit in federal court in California. Brown Law Firm PC and Levi & Korsinsky LLP will serve as co-lead counsel, the U.S. District Court for the Northern District of California said Wednesday. The ridehailing platform’s directors and officers allegedly “omitted a litany of serious issues,” including physical and sexual assaults, bike injuries, and driver discontent, the shareholders said in their derivative complaint. The shareholders filed a joint stipulation and proposed order consolidating the cases in December, and Magistrate Judge Jacqueline Scott Corley signed the order without changes. Click here to read the full article.
Multinational public companies face an ever increasing risk of being subject to investor actions throughout the world in a trend that is exacerbated by market uncertainty. The UK and other countries are adopting mechanisms that provide fertile ground for such claims and could result in a significant rise in litigation that threatens the existence of businesses. Companies should be aware of and monitor this increased risk and must take measures to mitigate risks of shareholder liability. As US courts have narrowed the scope of foreign claims that are allowed to be brought, shareholders have sought alternative jurisdictions and countries that are developing their own legislation for accommodating such actions, and the UK is a preferred destination for collective shareholder litigation. Click here to read the full article.
We all know 2020 made an impact – and as we look at the year ahead, there are a few repercussions of the incredible strain placed on businesses that are likely to come into the limelight as a result. While there are some global trends in litigation – like litigation funding and class actions – some Scottish specific trends are also worth highlighting. With that in mind, here are the five key things for litigators to watch in the year ahead: 1) Frustration And Leases In Scots Law 2) Insolvencies Once Government Support For Business Ends 3) Success Fees In Scotland 4) Prescription Of Claims 5) The Uk’s Judicial Review And Its Constitutional Implications. Click here to read the full article.
Legal experts anticipate securities litigation to return to pre-pandemic trends in 2021. While there have been relatively few COVID-19-related securities class actions to date, there may be an uptick in 2021 as stock-price drops take time to manifest into litigation. Further, because of increased recoveries and the presidential election, we may also see increased whistleblower and U.S. Securities and Exchange Commission enforcement activity in 2021. Click here to read the full article (subscription may be required).
There were several notable developments in the fourth quarter of 2020 affecting class actions. The Supreme Court is poised to decide whether a damages class can be certified when a large portion of the class lacks Article III standing. Multiple cases were decided relating to the interpretation and impact of arbitration provisions on class actions and other types of complex litigation. And an increasing number of derivative shareholder lawsuits have arisen relating to anti-discrimination and diversity issues on corporate boards. Click here to read the full article.
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