FRT’s Fast Five: Week Ending 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.
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).
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).
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).
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).
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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SETTLED CLASS ACTIONS I INTERNATIONAL OPT-IN I ANTITRUST I PASSIVE I OPT-OUT I CLAIMS MONETIZATION
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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.