Financial Recovery Technologies Fast Five provides you with the top news in shareholder class actions. Stay up-to-date on the latest developments in U.S. claims filing opportunities, Antitrust settlements, Global Group Litigation matters and more. For more information, contact your Financial Recovery Technologies representative or email us.

1. Citibank, JPMorgan Chase Ink $21M SIBOR Rigging Suit Deal

CitiGroup Inc. and JPMorgan Chase & Co. have agreed to pay nearly $21 million to escape a putative class action over an alleged conspiracy to manipulate the Singapore Interbank Offered Rate, the plaintiffs said in a motion to preliminarily approve the deal in New York federal court Thursday. Click here to read the full article (subscription may be needed).

2. Pharma Co. Shakes Texas Securities Suit In Post-Cyan Ruling

A Texas judge permanently tossed an investor suit alleging pharmaceutical company XBiotech and its underwriters misled investors about its progress in clinical studies for its flagship product, in what is among the first dismissals of a Section 11 securities class action in a state court after the U.S. Supreme Court’s Cyan ruling. Click here to read the full article (subscription may be needed).

3. 10 Firms Vie For Lead Counsel In Opko Health Fraud Row

As many as 10 law firms filed competing motions Tuesday urging a New Jersey federal court to appoint them as lead counsel and their respective clients as lead plaintiffs in a proposed class action against Opko Health Inc. over its alleged role in a pump-and-dump scheme that ultimately dealt a financial blow to investors. Click here to read the full article (subscription may be needed).

4. Investors Reach $12M Deal In Biotech Stock-Drop Case

A shareholder class claiming biotech company NantKwest hid millions of dollars in executive compensation expenses from investors prior to its 2015 initial public offering has reached a $12 million proposed settlement with the firm, according to a filing in California federal court. Click here to read the full article (subscription may be needed).

5. MoneyGram Investor Sues After $125M FTC Fraud Deal

A MoneyGram International investor lodged a proposed securities class action in Illinois federal court Wednesday accusing the money transfer company of lying about its anti-fraud compliance, leading to overinflated stock prices that sunk after a $125 million settlement with the FTC was revealed. Click here to read the full article (subscription may be needed).

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To learn more about how FRT can help your firm maximize recoveries in shareholder class action settlements, contact us at learnmore@frtservices.com.

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