Not only has coronavirus impacted peoples’ daily lives, it has also had a devastating effect on the global economy and the markets. According to an article published by The Wall Street Journal (the “WSJ”) on March 19, 2020, before the coronavirus spread throughout the world, S&P Dow Jones Indices predicted that “dividend payouts for 2020 would top $500 billion to set a new record.” Now, analysts are predicting that companies will consider slashing or suspending their dividend payouts to shareholders in order to preserve capital. Shares of Ford Motor, Inc. fell 3.6% after announcing that it was suspending dividends on March 19, 2020. According to the WSJ, analysts also predict that companies such as Boeing Co., Exxon Mobil Corp. and Chevron Corp. may soon follow suit.
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Faruqi & Faruqi, LLP focuses on complex civil litigation, including securities, antitrust, wage and hour, personal injury and consumer class actions as well as shareholder derivative and merger and transactional litigation. The firm is headquartered in New York, and maintains offices in California, Delaware, Georgia and Pennsylvania.
Since its founding in 1995, Faruqi & Faruqi, LLP has served as lead or co-lead counsel in numerous high-profile cases which ultimately provided significant recoveries to investors, direct purchasers, consumers and employees.
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About Nina Varindani
Nina Varindani is a Partner in Faruqi & Faruqi, LLP's New York office and focuses her practice on securities litigation and shareholder derivative litigation, representing investors in federal and state class action and derivative lawsuits, books and records demands and litigation demands.