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Securities

TD Ameritrade Logo

This class action centers on a feature in an investment account called tax-loss harvesting. The complaint alleges that TD Ameritrade Holding Corporation and three of its Ameritrade subsidiaries are responsible for losses in an account that was managed by Ameritrade when the tax-loss harvesting feature did not work as intended. 

Zions Bank Sign

When investors put money into an enterprise, how do they know that it’s being used as claimed? The complaint for this class action claims that the Silver Pool supposedly run by Gaylen Rust was a Ponzi scheme with no reality to it. However, the defendant in the case is not Rust but Zions Bancorporation, which the complaint claims should have seen evidence that Silver Pool funds were being diverted to other uses. 

MoneyGram Sign on Building

As the world has become smaller via electronic transactions, fraud and money laundering have become more of a concern for regulators. The complaint for this securities class action claims that MoneyGram International, Inc. provided false or misleading information to shareholders about its fraud- and money laundering-prevention measures. 

CafePress Logo

CafePress, Inc.(NASDAQ: PRSS)has concluded a merger agreement under which it would become a subsidiary of Snapfish, LLC. But the complaint for this class action alleges that the terms of the merger agreement and tender offer are not in the interests of CafePress shareholders. Instead, it says, CafePress’s board of directors has been influenced by terms that will benefit only themselves. 

Cloud With Me Logo

This class action concerns yet another initial coin offering (ICO), this time for a cryptocurrency called the Cloud token, sold by Cloud With Me Ltd. The complaint claims that the ICO was actually the sale of unregistered securities, in violation of the Securities Act of 1933.

Sequoia Fund Logo

When investors put their money into funds, they make choices about the kinds of funds they want to invest in—the riskiness of the investments, the size of the companies invested in, the economic sector, the region or country, and so on. The complaint for this class action claims that Sequoia Fund’s investment in a single company ended up violating its own rules about concentration in a single industry and caused the fund eventually to lose about $600 million in value.

Mine on Simandou

Simandou is a mountain that is rich in minerals, but it is in the interior of Guinea, a West African country that by some accounts is one of the most corrupt places in the world. The complaint for this class action claims that Rio Tinto PLC became anxious when some of its mining rights were revoked and given to a competitor and that it paid a very large bribe to ensure that it retained its remaining rights. However, the company continued to claim it did not pay bribes and did business ethically, in violation of the Securities Exchange Act of 1934. 

Facebook "f" Logo with Silhouettes

This class action alleges that Facebook, Inc. allowed Cambridge Analystica, LLC (CA) to mine the data of some 50 million Facebook users, for the purpose of influencing voters in what the complaint calls “an unprecedented attack on democracy”—not to mention an unprecedentedly  massive misuse of personal information. Facebook has admitted that most of its users have likely had their information scraped by outsiders, which the complaint claims is a violation of the Stored Communications Act, the Alabama Deceptive Trade Practices Act, and common law.

New Oriental Education & Technology Building

A subsidiary of the New Oriental Education & Technology Group, Inc. helps students in the People’s Republic of China apply to foreign universities. But according to the complaint for this class action, this subsidiary actually writes application materials and handles the whole application process, sometimes fabricating information. This is fraud, the complaint claims, and not disclosing it violates the Securities Exchange Act of 1934 and affects the value of the entire company.

2017 Chevrolet Equinox

If your car engine is consuming oil faster than it should, how would you know when more oil is needed? Perhaps you would rely on the vehicle’s oil pressure warning (OPW) or oil life monitoring (OLM) system. But if you had a Chevrolet Equinox from certain model years, the complaint for this class action alleges, your engine could suffer damage or even shut down on the road before either of these systems gave you a warning. The complaint alleges breaches of warranties, among other violations.

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