Case No. 3:15-cv-02945 Charles Schwab is a retail brokerage that owes a duty of “Best Execution” to its customer clients. That means it is required to route its customers’ orders to the trading venue (i.e. stock exchange) that provides the best price improvement. But rather than find the best venue for its customers’ trades, it … learn more »
Notable Case Summaries
Sarbacker v. TD Ameritrade Holding Corp., et al., Case No. 8:14-cv-00341 (D. Neb.)
TD Ameritrade is a retail brokerage that owes a duty of “Best Execution” to its customer clients. That means it is required to route its customers’ orders to the trading venue (i.e. stock exchange) that provides the best price improvement. But rather than find the best venue for its customers’ trades, it routed its customers’ … learn more »
Rosalia, et al. v. Apple, Inc., Case No. CGC-17563342 (San Francisco Sup. Ct.)
In December 2017, Apple publicly admitted what many had suspected all along – that Apple intentionally slowed its iPhone processors without telling its customers. It did this via “updates,” but Apple never told its consumers that by accepting the update it was allowing Apple to “throttle down” the processing speed of their phones. Apple claims … learn more »
Central Laborers’ Pension Fund v. Chellgren, No. 02-CI-02174 (Ky. Cir. Ct., Kenton Cty.)
The lawsuit alleged that the Ashland, Inc. Board of Directors (the “Board”) failed to adequately oversee company operations and protect shareholder value by, among other things, permitting the company to become a recidivist polluter and incurring tens of millions of dollars in fines; allowing executives to engage in insider trading; and destroying the company’s reputation … learn more »
Local 703, I.B. of T. Grocery and Food Employees Welfare Fund v. Regions Financial Corp., et al., Case No. CV-10-J-2847-S (N.D. Ala)
This lawsuit stemmed from an accounting fraud at Regions, carried out during the 2008-2009 financial crisis in order to keep the company from recognizing huge losses for bad real estate loans. After an extensive investigation, Mr. Brown and his team filed a securities fraud lawsuit that caught the eye of the SEC enforcement division. While … learn more »
In re Constar Int’l Secs. Litigation, Case No. 03-CV-05020 (ED Pa.)
On December 19, 2012, the court granted final approval of the $23.5 million settlement in In re Constar Int’l Inc. Sec. Litig., pending since September 2003 in the United States District Court for the Eastern District of Pennsylvania. Plaintiffs asserted claims arising out of a November 2002 initial public offering of Constar International stock. The … learn more »
In re UnitedHealth Group PSLRA Litigation, Case No. 06-CV-1691 (D. Minn.)
On July 1, 2008, California Public Employees’ Retirement System (“CalPERS”) and Alaska Plumbing and Pipefitting Industry Pension Trust (“Alaska”) announced a settlement with UnitedHealth Group Inc. and certain individual defendants for a record-breaking $895 million. Just over two months later, a settlement was also reached with the two remaining defendants – bringing the total recovery … learn more »
