Securities

Tivity Atty’s ‘Suspicious Stock Sales’ Support Suit, Judge Says

Fitness and wellness program provider Tivity Health lost a bid to kill a stock-drop suit on Monday when a Tennessee federal judge said allegations of “suspicious stock sales” by executives, including Tivity’s chief legal officer, bolstered the case against the company…

Read this piece in its entirety at Law360.

 

Pharma Co. Pumped Stock By Hiding Drug Failures, Suit Says

A proposed class of investors hit Corbus Pharmaceutical Holdings Inc. and two of its top executives with a securities suit in Massachusetts federal court Tuesday alleging that the company and its officers concealed negative results in clinical trials of its flagship drug…

Read this piece in its entirety at Law360.

Musk’s ‘Unchecked’ Tweets Land Tesla In New Derivative Suit

Elon Musk’s itchy Twitter fingers have landed Tesla Inc. in hot water once again, with investors lodging a new derivative suit against the electric car maker’s board asking Delaware’s Chancery Court to halt the CEO’s “dangerous” and “unchecked” social media habits, the shareholders’ attorneys announced Friday…

Read this piece in its entirety at Law360.

First Data Shareholder Sues To Stop $22B Sale To Fiserv

Investors in financial services company First Data Corp. on Monday launched a proposed class action in New York state court seeking to stop its $22 billion sale to Fiserv Inc., accusing First Data executives of prioritizing their personal enrichment over the rights of the company’s shareholders…

Read this piece in its entirety at Law360.

CBS Execs Sold $200M In Stock As #MeToo Hit Co.: Investors

Several executives at CBS Corp., including ex-CEO Leslie Moonves, sold more than $200 million of company stock before its price began to tank amid reports of widespread workplace sexual harassment, including by Moonves, investors alleged in a consolidated class action filed Monday in New York federal court.

Read this piece in its entirety at Law360.

Vale Sued By Investors Over 2nd Brazil Dam Collapse

Brazilian mining company Vale SA lied to investors about safety measures at a mining dam in the South American country that collapsed on Jan. 25, in an incident similar to a 2016 disaster, according to a proposed class action filed Friday in New York federal court…

Read this piece in its entirety at Law360.