FRT’s Fast Five: Week Ending October 14, 2022

FRT Marketing
FRT Marketing
October 14, 2022

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.

1. Barclays, ICAP’s $22.5 Million Deal OK’d in Benchmark-Rigging Suit

A New York federal judge on Tuesday gave his preliminary blessing to a $22 million deal that would resolve claims by investors accusing Barclays and others of plotting to manipulate interbank exchange rates, including one tied to the Japanese yen, causing them to suffer losses. Click here to read the full article (subscription may be required).

2. Twitter Investor Says Musk Intentionally Tanked Its Stock Price

Twitter investors have hit Elon Musk with a putative securities class action over his oscillating approach to the $44 billion purchase of Twitter, an ordeal that one stockholder characterized as a ploy designed to drive down Twitter’s stock price. Click here to read the full article (subscription may be required).

3. Glencore Hit With Investor Lawsuit After Bribery Conviction

More than a dozen global investors are suing Glencore in London’s High Court, in a class-action-style lawsuit prompted by the company’s conviction of bribery earlier this year. People familiar with the matter said the claims related to investor losses suffered in 2011 and 2013 on the basis of the misconduct identified in the corruption probes. Click here to read the full article (subscription may be required).

4. Leading Business Group Backs Slack’s High Court Appeal

The US Chamber of Commerce is among several business groups and one high-profile individual calling on the US Supreme Court to overturn a ruling they say could open the floodgates to further investor litigation against companies like Slack, which went public through a novel process known as a direct listing. Click here to read the full article (subscription may be required).

5. Grubhub Agrees to Pay $42 Million to End Investors’ Securities Suit

Grubhub says it will pay $42 million to end claims that it lied to investors about the success of its ability to attract profitable restaurants and diners in new locations, as both sides of the securities litigation were waiting to see if an Illinois federal judge would certify the class.  Click here to read the full article (subscription may be required).

 

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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.

 

About FRT

SETTLED CLASS ACTIONS  I  INTERNATIONAL OPT-IN  I  ANTITRUST  I  PASSIVE  I  OPT-OUT  I  CLAIMS MONETIZATION

Founded in 2008, Financial Recovery Technologies (FRT) is the leading technology-based services firm that helps the investment community identify eligibility, file claims and collect funds made available in securities and other class action settlements. Offering the most comprehensive range of claim filing and monitoring services available, we provide best-in-class eligibility analysis, disbursement auditing and client reporting, and deliver the highest level of accuracy, accountability, and transparency available. For more information, go to www.frtservices.com.

This communication and the content found by following any link herein are being provided to you by Financial Recovery Technologies (FRT) for informational purposes only and do not constitute advice. All material presented herein is believed to be reliable but FRT makes no representation or warranty with respect to this communication or such content and expressly disclaims any implied warranty under law. Opinions expressed in this communication may change without prior notice. Firms should always seek legal and financial advice specific to their unique situation and objectives.

ABOUT FINANCIAL RECOVERY TECHNOLOGIES
SETTLED  I  NON-US GLOBAL OPT-IN  I  ANTITRUST  I  GLOBAL PASSIVE  I  DIRECT OPT-OUT  I  BUYOUTS

Founded in 2008, Financial Recovery Technologies (FRT) is a leading technology-based services firm that helps the investment community identify eligibility, file claims and collect funds made available in securities and other class action settlements. Offering the most comprehensive range of claim filing and monitoring services available, we provide best-in-class eligibility analysis, disbursement auditing and client reporting, and deliver the highest level of accuracy, accountability and transparency available. For more information, go to www.frtservices.com.

 

This communication and the content found by following any link herein are being provided to you by Financial Recovery Technologies (FRT) for informational purposes only and does not constitute advice. All material presented herein is believed to be reliable but FRT makes no representation or warranty with respect to this communication or such content and expressly disclaims any implied warranty under law. Opinions expressed in this communication may change without prior notice. Firms should always seek legal and financial advice specific to their unique situation and objectives.