News

Lawsuits

Kimberly Redmond | Equities.com |

Twitter Inc disclosed a binding agreement to settle a consolidated class-action lawsuit, under which the social media company will pay $809.5 million to resolve claims it provided misleading information to investors.

The settlement announced Monday stems from a lawsuit filed in September 2016 by a Twitter shareholder that accused company executives, including CEO Jack Dorsey, of artificially inflating its stock price by misleading investors about how often people used the site.


AP News | Equities.com |

Federal regulators have sharpened their antitrust attack against Facebook, alleging in a revised complaint Thursday that the social network giant pursued a laser-focused strategy to “buy or bury” rivals to suppress competition.

It is the Federal Trade Commission’s second antitrust run at the company. A federal judge in June dismissed antitrust lawsuits brought against Facebook by the agency and a broad coalition of state attorneys general that were among multiplying efforts by federal and state regulators to rein in tech titans’ market power.


Kimberly Redmond | Equities.com |

A US judge rejected Intel Corporation’s request to throw out a jury verdict ordering the company to pay VLSI Technology $2.18 billion for infringing patents related to chip-making technology.

In a sealed order issued late Monday, Judge Alan Albright of the US District Court for the Western District of Texas denied Intel’s motion for a new trial and allowed the second largest patent verdict in US history to stand.


Reuters | Equities.com |

Tiffany & Co has settled its more than eight-year-old lawsuit accusing Costco Wholesale Corp of trademark infringement and counterfeiting for selling generic diamond engagement rings bearing the "Tiffany" name.

Monday's settlement came after the federal appeals court Manhattan in August threw out a $21 million judgment that Tiffany, acquired in January by French luxury goods company LVMH SE, won in 2017 following a jury trial.


Kimberly Redmond | Equities.com |

Norwegian Cruise Line Holdings Ltd (NYSE: NCLH) is fighting a Florida state law that prevents businesses from requiring customers and employees to provide proof of a COVID-19 vaccination.

In a complaint filed Tuesday against Florida surgeon general Scott A. Rivkees, the Miami-based cruise line asked the US District Court for the Southern District of Florida to throw out the state’s ban and grant the cruise line a preliminary injunction that would enable it to confirm vaccination status when it resumes sailing next month.


Reuters | Equities.com |

Germany's largest consumer protection group filed a lawsuit on Wednesday against car maker Daimler that it said would make it easier for Mercedes owners to gain redress over a diesel emissions scandal.

The lawsuit, filed by the VZBV at a regional court in Stuttgart, seeks to set a precedent that would enable owners of Mercedes GLC and GLK cars to gain compensation over software that was allegedly used to trick emissions tests.


AP News | Equities.com |

New York can try to sue gun manufacturers over harm caused by their products under legislation that Gov. Andrew Cuomo signed Tuesday.

The new law comes at a time when New York City in particular is facing a rise in shootings. Overall, violence is well short of the historic highs of the 1990s, or even in the New York of the early 2000s.


Reuters | Equities.com |

Amazon.com Inc was hit on Wednesday with five new lawsuits by women who worked in corporate or warehouse management roles, and accused the online retailer of gender bias, racial bias or both.

The women, ages 23 to 64, accused Amazon of favoring men over women in career growth, allowing supervisors to denigrate them, and retaliating after they complained.


Kimberly Redmond | Equities.com |

Facebook Inc and Gucci America Inc announced Tuesday that they filed a joint lawsuit against an individual who allegedly used the social media company’s platforms to sell fake Gucci products.

In a lawsuit filed Monday in the US District Court for the Northern District of California, the luxury fashion house and social networking giant claim the individual – who was not identified – used multiple Facebook and Instagram accounts to promote an international online counterfeit businesses.