The most recent cost to Wells Fargo & Co. arising out of its fake-account scandal is a $480 settlement with its shareholders. The settlement resolves the main class-action suit brought by shareholders targeting the bank’s allegedly deficient disclosures related to its sales practices.
Steve Larson has been representing investors, consumers and employees in class actions in Oregon for over 20 years. He is a shareholder at the law firm of Stoll Berne in Portland, Oregon.
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About the Blog
This blog is intended to provide information to the general public and to practitioners about developments that may impact Oregon class actions.
Japanese auto parts maker Tokai Rika has agreed to settle claims against it for $34.2 million. The four proposed settlement classes include those who say they were overcharged for heating control panels, occupant safety restraint systems, switches and steering angle sensors. According to the motion for preliminary approval, the classes includes millions of buyers.
A new report authored by Loyola University of New Orleans College of Law Professor Imre S. Szalai, finds that 80 percent of Fortune 100 companies use arbitration in their employment documents, nearly half of which contain class and collective action bans.
Shareholders of Facebook stock sued the social media giant alleging that Facebook made misleading claims about its use of user data, which blew up this month when its alleged relationship to a Trump-linked data firm was made public.
According to an article in the publication called The Hill, President Trump’s appointee to the SEC suggested that the SEC may consider removing a ban that has been in place for years that has prohibited securities issuers from putting class action bans in their disclosures relating to IPO’s.
A proposed class of consumers that purchased automobiles have reached an $11 million settlement of their claims with Japanese auto parts maker Calsonic Kansei Corp. The complaint alleged that Calsonic was part of a conspiracy to fix prices for vehicle air conditioning systems.
Continental Automotive Electronics LLC has agreed to pay nearly $4 million to car buyers to settle antitrust claims related to multidistrict litigation over an alleged auto parts price-fixing scheme. The settlement relates to instrument panel clusters that the company sold for use in cars sold in the U.S.
LJM Preservation and Growth Fund lost 80 percent of its value betting the wrong way on market turmoil in the first week of February. Now, it has been named in a proposed securities class action alleging the company and its executives lied to investors about its strategy.
A shareholder in Ogletree Deakins’ Orange County office has filed suit against the law firm alleging the firm’s male-dominated leadership disproportionately favors men over women in pay, promotions and business development opportunity.