News

Settlement Agreements

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 |

A federal bankruptcy judge gave conditional approval Wednesday to a sweeping settlement that will remove the Sackler family from ownership of OxyContin maker Purdue Pharma and devote potentially $10 billion to fighting the opioid crisis that has killed a half-million Americans over the past two decades.

If it withstands appeals, the deal will resolve a mountain of 3,000 lawsuits from state and local governments, Native American tribes, unions and others that accuse the company of helping to spark the overdose epidemic by aggressively marketing the prescription painkiller.


Reuters | Equities.com |

A group of state attorneys general unveiled on Wednesday a landmark $26 billion settlement with large drug companies for allegedly fueling the deadly nationwide opioid epidemic, but the deal still requires support from thousands of local governments.

Under the settlement proposal, the three largest U.S. drug distributors — McKesson Corp, Cardinal Health Inc and AmerisourceBergen Corp — are expected to pay a combined $21 billion, while drugmaker Johnson & Johnson would pay $5 billion.


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.