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Once again, a federal judge in Philadelphia has clipped the wings of some of the country's largest egg producers hoping to hatch their way out of multidistrict class action litigation over alleged price-fixing for eggs and egg products. And this time the judge got just a few dozen words into her decision before cracking her first chicken joke.
On Wednesday a Manhattan federal judge approved a purported $180 million antitrust class action settlement with Sirius XM Radio Inc., rejecting objections by Frank's Center for Class Action Fairness that the settlement was a sweetheart deal benefitting only the plaintiffs lawyers and the company.
We weren't the only ones struck by Vivendi's Paris gambit aimed at preventing French class members from participating in the company's securities fraud trial in New York. On Tuesday, class counsel for the plaintiffs in New York demanded that Vivendi withdraw the suit.
Georgia High-Tech Firm's CEO Charged by Shareholders With Insider Trading
Two months before the technology firm Scientific-Atlanta's stock plummeted 34 percent, the company's chief executive officer sold 815,000 shares and, in one week, made $42.8 million. Now three stockholders claim he engaged in insider trading and are suing the company in federal court in Atlanta. The stock sales "were unusual in both timing and amount," the complaints allege.Test Cases to Determine Damages in IPO Lawsuits
A tentative outline for trying test cases in the litigation over the manipulation of initial public offerings during the Internet boom was agreed to on Friday. Judge Shira Scheindlin of the Southern District of New York told lawyers for 55 securities firms and investors to select 10 to 20 "focus cases" that will be briefed and argued as a precursor to a possible settlement of sweeping allegations concerning IPOs for 309 companies.State AI Legislation Is on the Move in 2024
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