Top Five Corporate Scandals of 2018: Episode I-CBS and Les Moonves
The media companies Paramount Global and CBS Interactive, Inc., are facing a class-action lawsuit in federal court over recent layoffs, which allegedly occurred without the proper warning. The outcome of the case may shed...more
More good economic news in the U.S. this week, with first-time jobless claims falling to 613k, a decrease of more than 150,000 from a week earlier and the lowest level of the pandemic. ...more
Delaware Court of Chancery Allows Stockholder Litigation to Proceed Against Viacom-CBS Over $30B Merger; Ninth Circuit Affirms Dismissal with Prejudice of Securities Class Action Against Tesla; Second Circuit Affirms...more
Last June, we wrote a Legal Update on Recent Developments in Securities Litigation: The "Event Driven" #MeToo Lawsuit. Event driven securities litigation is where negative events, instead of financial misstatements or...more
The #MeToo movement has had an enormous impact on corporate America. Workplace harassment and sexual misconduct are not new concepts and have been the focus of litigation for many years. However, the power of the #MeToo has...more
CBS isn’t the only large company with insider trading worries. In complaints made public yesterday, the SEC has accused Gene Levoff, Apple’s former senior director of corporate law and corporate secretary, of “repeatedly”...more
In a case with potentially nationwide ramifications, the Ninth Circuit reversed a California district court’s decision striking a motion for class certification as untimely, finding the district court’s local rule requiring...more
The FBI and OCC have each launched inquiries into pricing practices within American Express’s forex unit with an aim to determine “whether the foreign-exchange international payments department misrepresented pricing to...more
Uber’s throwing in the towel on Otto, its self-driving truck unit that was at the center of an IP-theft scandal with Waymo and will shift its focus to autonomous cars....more
The Journal is breaking news this morning that American Express has been raising forex prices on customers for years “without notifying customers in a bid to boost revenue and employee commissions”....more
Elaine Bonin of Franklin, Wisconsin received several sports scores via text courtesy of CBS Radio but did not recall signing up. Like any good citizen, recognizing that under the Telephone Consumer Protection Act she might...more