Faruqi & Faruqi LLP - newshttp://www.faruqilaw.com/newsFaruqi & Faruqi LLP - newsFaruqi & Faruqi Announces Tentative Settlement of $7.5 Million in the Hansen Medical, Inc. Shareholder Litigationhttp://www.faruqilaw.com/news/show/id/226 Faruqi & Faruqi is pleased to announce a tentative settlement has been reached in the shareholder litigation over the 2016 cash out merger of Hansen Medical, Inc. with Auris Surgical Robotics, Inc. The complaints alleged that the merger agreement was the result of a flawed and conflicted sales process undertaken by a group of insiders and the merger consideration for minority shareholders was inadequate. Complaints were filed in Delaware Chancery Court and in California state court. Faruqi & Faruqi was appointed co-lead counsel in the consolidated California state court actions.  Plaintiffs have sought preliminary approval in California to settle all shareholder and derivative claims arising from the merger. On preliminary approval by the Court, notices will be issued to class members to advise them of their rights and regarding future proceedings.

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Tue, 19 Feb 2019 00:00:00Alex Coviello
Faruqi & Faruqi Reaches $6,750,000 Settlement On Behalf Of Investors of Go Pro, Inc.http://www.faruqilaw.com/news/show/id/227 Faruqi & Faruqi, Lead Counsel, is pleased to announce that on February 14, 2019, Lead Plaintiff, on behalf of himself and a class of all persons and entities who purchased GoPro, Inc. common stock during the period between September 19, 2016 through November 8, 2016, reached a settlement with defendants GoPro, Inc., Nicholas Woodman, Brian McGee, and Anthony Bates (“Defendants”).  Defendants will pay $6,750,000 in cash to Class Members.  F&F has moved the court for preliminary approval of the settlement.

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Thu, 14 Feb 2019 00:00:00Alex Coviello
Kona Beer Cannot Appeal Class Certification Order on False Advertising Claimhttp://www.faruqilaw.com/news/show/id/225 On February 1, 2019, the United States Court of Appeals for the Ninth Circuit denied Craft Brew Alliance Inc.’s petition to appeal an order certifying classes of Kona Beer consumers. Faruqi & Faruqi, as lead counsel, allege on behalf of consumers that Kona Beers’ packaging misleads consumers into believing that the beers are brewed in Hawaii.   In fact, Kona Beer is brewed in the mainland United States.

The Ninth Circuit’s denial follows the District Court’s September 25, 2018, class certification order, in which the Honorable Beth Labson Freeman of the United States District Court for the Northern District certified classes of six and twelve-pack purchasers of Kona Beer seeking damages and injunctive relief.  F&F partners Timothy J. Peter and Ben Heikali head the Kona litigation.

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Tue, 5 Feb 2019 00:00:00Alex Coviello
Faruqi & Faruqi Obtains Final Approval of Settlement Valued at $48 Million on Behalf of Scotts EZ Seed Consumershttp://www.faruqilaw.com/news/show/id/222 Faruqi & Faruqi is proud to announce final approval of a settlement valued at $48,000,000 on behalf of a New York and California class of Scotts EZ Seed consumers. Following over six years of hard-fought litigation by plaintiffs’ counsel, both class members and United States District Court Judge Vincent L. Briccetti of the Southern District of New York have recognized the tremendous result achieved on behalf of the classes.

The action challenged Scotts’ representation that its products allow consumers’ grass to grow 50% thicker with half the water. At a minimum, consumers who submit a claim can receive a refund of up to $45, even without proof of purchase. Consumers with proof of purchase can receive a refund of up to $90, an exceptional result for class members.
Faruqi & Faruqi served as co-lead counsel for the classes, guiding and overseeing the resolution of the case from its inception. Timothy J. Peter is lead attorney on this matter for Faruqi & Faruqi and can be reached at (215) 277-5770.

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Wed, 19 Dec 2018 00:00:00Alex Coviello
Court Appoints Faruqi & Faruqi, LLP Co-Lead Counsel in Shareholder Derivative Action on Behalf of The Wendy’s Company and Its Shareholdershttp://www.faruqilaw.com/news/show/id/223 On December 17, 2018, the Honorable Timothy S. Black, United States District Court  of the Southern District of Ohio, appointed Faruqi & Faruqi, LLP and Strauss Troy as Co-Lead Counsel in In re The Wendy’s Company Shareholder Derivative Action, Case No. 1:16-cv-01153-TSB. The case involves the well-publicized data breach that occurred at Wendy’s franchisees from October 2015 through at least June 2016. The Court in issuing its order resolving the competing motions for lead counsel was “particularly impressed with the Faruqi firm because of its experience in In re The Home Depot, Inc. Shareholder Derivative Litigation, Lead Case No. 1:15-cv-2999-TWT (N.D. Ga.) (“Home Depot Derivative Action”),” in which the Faruqi firm acting as Co-Lead Counsel was successful in reaching “the first settlement ever achieved in a data breach shareholder derivative lawsuit.” Judge Black noted that at least one news organization stated that  the Home Depot Derivative Action settlement “may be a good corporate security governance blueprint for other companies.” The Court was also “impressed with the expert retained” by the Faruqi firm, “a cybersecurity expert with experience as a former national security executive with the FBI.”

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Wed, 19 Dec 2018 00:00:00Alex Coviello
Innessa Melamed Huot among America’s Top 100 High Stakes Litigatorshttp://www.faruqilaw.com/news/show/id/224 Announcing the selection of Innessa Melamed Huot among America’s Top 100 High Stakes Litigators® for 2018. Selection to America’s Top 100 High Stakes Litigators® is by invitation only and is reserved to identify the nation’s most exceptional trial attorneys in high value, high stakes legal matters.
To be considered for selection, an attorney must have litigated (for either plaintiff or defendant) a matter (1) with at least $2,000,000 in alleged damages at stake or (2) with the fate of a business worth at least $2,000,000 at stake. These minimum qualifications are required for initial consideration. Thereafter, candidates are carefully screened through comprehensive Qualitative Comparative Analysis based on a broad array of criteria, including the candidate’s professional experience, litigation experience, significant case results, representative high stakes matters, peer reputation, and community impact in order to rank the candidates throughout the state.
Only the top 100 qualifying attorneys in each state will receive this honor and be selected for membership among America’s Top 100 High Stakes Litigators®. With these extremely high standards for selection to America’s Top 100 High Stakes Litigators®, less than one-half percent (0.5%) of active attorneys in the United States will receive this honor — truly the most exclusive and elite level of attorneys in the community.

If you would like more information about America’s Top 100 High Stakes Litigators® or the selection process, please visit our website at www.Top100HighStakesLitigators.com or contact Kevin Wieser – Membership Director at Membership@AmericasTop100Attorneys.com.

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Wed, 19 Dec 2018 00:00:00Alex Coviello
Robert W. Killorin among America’s Top 100 Attorneyshttp://www.faruqilaw.com/news/show/id/220 Announcing the Lifetime Achievement selection of Robert W. Killorin among America’s Top 100 Attorneys®.  Lifetime Achievement selection to America’s Top 100 Attorneys® is by invitation only and is reserved to identify the nation’s most exceptional attorneys whose accomplishments and impact on the legal profession merit a Lifetime Achievement award. 

Selection is not achieved based on a single accomplishment or a single great year of success, but rather on a lifetime of hard work, ethical standards, and community enriching accomplishments that are inspiring among the legal profession.  To help ensure that all attorneys selected for membership meet the very high standards expected for selection, candidates for lifetime membership are carefully screened through comprehensive Qualitative Comparative Analysis based on a broad array of criteria, including the candidate’s professional experience, lifetime achievements, significant case results, peer reputation, and community impact.  With these extremely high standards for selection to America’s Top 100 Attorneys®, less than one-half percent (0.5%) of active attorneys in the United States will receive this honor — truly the most exclusive and elite level of attorneys in the community.

If you would like more information about America’s Top 100 Attorneys® or the selection process, please visit our website at www.AmericasTop100Attorneys.com or contact Kevin Wieser – Membership Director at Membership@AmericasTop100Attorneys.com.

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Tue, 18 Dec 2018 00:00:00Alex Coviello
Faruqi & Faruqi obtains Final Approval of a $9.8 Million Settlement on behalf of Aldi Store Managershttp://www.faruqilaw.com/news/show/id/221 Faruqi & Faruqi is thrilled to announce final approval of the hard-fought settlement in Griffin et al. v. Aldi Inc., No. 5:16-cv-00354.  The settlement recovered a remarkable $9.8 million for the Aldi Store Managers, including an average award of over $25,000 to each individual Store Manager.  Faruqi & Faruqi, as co-lead counsel, represented the Plaintiffs and a class of similarly-situated current and former Store Managers employed by Aldi. 

Plaintiffs filed this action on March 29, 2016, on behalf of all Aldi Store Managers, alleging that the large-scale grocery chain misclassified them as exempt employees under the Fair Labor Standards Act (“FLSA”) and New York Labor Law (“NYLL”).  Aldi Store Managers claimed that they spent up to 90% of their time performing manual labor tasks that were identical to those performed by non-exempt employees, such as stocking shelves and operating the cash register.  Moreover, they lacked any discretion, authority, or control over Aldi’s operations which may have qualified them as exempt employees.  Nevertheless, Aldi classified its Store Managers as exempt executives and often forced them to work 60 to 75 hours per week without receiving overtime pay. 

In granting final approval of the settlement, the Court held that the proposed settlement “is a very reasonable and fair settlement, and that the individual recovery for each of the Store Managers “is substantial and will compensate them for the damages they sustained in this matter.”  Additionally, the Court emphasized that it was “impressed with the quality of the work” performed by class counsel, further stating that they “did an excellent job representing the interests of the class members.” 

Innessa Melamed Huot is lead attorney on this matter for Faruqi & Faruqi and can be reached at (877) 476-7797 or (212) 983-9330 ext. 1319.

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Tue, 18 Dec 2018 00:00:00Alex Coviello
Court Appoints Faruqi & Faruqi, LLP Lead Counsel in Securities Class Action Against CV Sciences, Inc. http://www.faruqilaw.com/news/show/id/217 On November 15, 2018, United States District Judge Jennifer A. Dorsey of the United States District Court for the District of Nevada appointed Faruqi & Faruqi, LLP to serve as Lead Counsel in Smith v. CV Sciences, Inc., et al., No. 2:18-cv-01602-JAD-PAL.

For further inquiries regarding this matter, please contact Richard Gonnello at rgonnello@faruqilaw.com or (212) 983-9330.

A copy of Judge Dorsey's order is linked below.

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Fri, 16 Nov 2018 00:00:00Ian Berkelaar
Faruqi & Faruqi Commences Lawsuit Against the Officers and Directors of Tesla, Inc.http://www.faruqilaw.com/news/show/id/216 On October 17, 2018, Faruqi & Faruqi, LLP filed a shareholder derivative lawsuit in the Court of Chancery of the State of Delaware, C.A. No. 2018-0749, on behalf of Tesla, Inc. (“Tesla”) and its stockholders. The complaint alleges in part that Tesla’s officers and directors breached their fiduciary duties and violated state law in connection with Elon Musk’s allegedly false and misleading statements about taking the company private that has caused Tesla, amongst other things, to be sued by the Securities and Exchange Commission and settle that case for $20 million, name two new  independent directors, create a permanent committee to review company statements prior to public dissemination, and hire a securities attorney to ensure compliance with SEC disclosure regulations.

A copy of the Complaint can be found below.

A report from Law360 can be found here.

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Thu, 18 Oct 2018 00:00:00Alex Coviello