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. VW Executives Charged With Misleading Shareholders Over Diesel Emissions

German prosecutors Tuesday said they have filed charges against Volkswagen AG Chief Executive Herbert Diess, Chairman Hans Dieter Pötsch and former CEO Martin Winterkorn for allegedly misleading shareholders in the months before the 2015 emissions-cheating scandal. In the surprise 636-page indictment, prosecutors in Braunschweig, near Volkswagen’s Wolfsburg headquarters, argued that the executives withheld information about the scandal from shareholders in an attempt to prop up the auto maker’s share price. Click here to read the full article (subscription may be needed).

2. Credit Suisse Defeats Lawsuits Over Huge U.S. ‘Volatility’ Crash

A U.S. judge on Wednesday dismissed three lawsuits accusing Credit Suisse Group AG of misleading investors about a complex product for betting on stock market swings, and causing huge losses when it lost 96% of its value in one harrowing day. Click here to read the full article.

3. Full Steam Ahead for IOOF Class Actions

Plaintiff law firms circling IOOF for shareholder losses in the wake of the banking royal commission will not be deterred by the wealth manager’s legal victory against the prudential regulator. IOOF faces two class-action lawsuits seeking damages for investors who lost shareholder value after misconduct, and enforcement action by the Australian Prudential Regulation Authority was revealed at the inquiry and in media reports. Click here to read the full article (subscription may be needed).

4. Investors Increasingly Opt Out of Big Class Action Deals

Investors are increasingly likely to opt out of class action settlements and file their own lawsuits, with each of the four shareholder deals above $500 million between 2014 and 2018 drawing opt-out cases, according to a report released Wednesday. In the five years preceding 2019, almost 9% of 382 class action settlements had an associated opt-out case, up from roughly 3% between 1996 and 2014, according to the report by Cornerstone Research and Latham & Watkins LLP. The relatively high percentage of opt-out cases in 2016, 14.1%, coincided with a Second Circuit ruling that upheld a finding that opt-out lawsuits are subject to a three-year statute of repose that can’t be paused by the filing of a class action. Click here to read the full article (subscription may be needed).

5.  German Authorities Raid Deutsche Bank Over Danske Scandal

German authorities have raided Deutsche Bank’s Frankfurt headquarters in search of information related to Danske Bank and a money-laundering scandal, Frankfurt prosecutors said on Wednesday. They are investigating whether Germany’s biggest bank facilitated money laundering and whether it failed to alert authorities about suspicious transactions quickly enough, the prosecutors said. Click here to read the full article.

Subscribe to FRT’s Monthly Newsletter

Financial Recovery Technologies’ Shareholder Litigation Fast Five provides you with the top news in shareholder class actions. This is your exclusive summary of the latest industry developments related to settled, group and antitrust actions and recovery opportunities. Click here to subscribe.

Learn More

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

• Blogs
  • [WEBINAR] Trends in Global Shareholder Litigation: Implementing a Governance Policy
  • Securities Class Action Cases: Quarterly Disbursed Claims – Q2-2019
  • Case Spotlight: Daimler AG
  • Three Key Things to Know About Non-U.S. Jurisdictions
  • FX Case Update (March 2019): Memo filed in support of motion for initial distribution
  • Case Spotlight: FX Canada
  • Three Non-U.S. Passive Participation Opportunities to Keep on Your Radar
  • EU Proposal May Move European Jurisdiction Risk Profiles Closer to the U.S.
  • Unique Data in Complex J.P. Morgan ADR Case Presents Filing Challenges
• Whitepapers:
  • A Primer on Shareholder Class Action
  • A Primer on Antitrust Class Litigation
  • A Primer on Global Group Litigation
  • A Primer on Future Claims Recovery
  • Illustrating The Outer Time Limits By Which Filing Decisions Must Be Made
  • Calculating Inflationary Losses for Comparison to Loss Thresholds
  • Global Landscape Continues to Evolve in the Wake of Morrison Decision
• Jurisdiction Risk Profiles:
  • Australia
  • Denmark
  • United Kingdom
  • Taiwan
  • Greece
  • Germany

About FRT

SETTLED CLAIMS  I  PASSIVE GROUP  I  ANTITRUST  I  FUTURE CLAIMS  I  OPT-IN MONITORING  I OPT-OUT MONITORING

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.

• Follow us on Twitter: @FRTServices
• Follow us on LinkedIn Financial Recovery Technologies
• Email us: learnmore@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.