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Katherine M. Lenahan

I only invested in options. Am I a class member?

Posted by Katherine M. Lenahan on 12/10/2019

See informative video here: https://www.faruqilaw.com/uploads/blog/1575588968-i-only-invested-in-options-am-i-a-class-member.mp4 If you only invested in options, then you may or may not qualify as a class member, depending upon the class definition alleged in the complaint. Some class actions include only purchasers who transacted in common ...

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Katherine M. Lenahan

What is the lead plaintiff deadline?

Posted by Katherine M. Lenahan on 12/10/2019

See informative video here: https://www.faruqilaw.com/uploads/blog/1575588554-what-is-the-lead-plaintiff-deadline.mp4 The lead plaintiff deadline is the last day that an investor may file a motion with the court requesting to be appointed as the lead plaintiff for that action. When a securities class action is initiated, the person who files ...

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Dillon Hagius

Equifax Data Breach Update

Posted by Dillon Hagius on 12/09/2019

On July 22, 2019, Equifax, one of the nation's three large credit reporting agencies, settled a lawsuit brought by the Federal Trade Commission ("FTC"), the Consumer Financial Protection Bureau ("CFPB"), and 50 U.S. states and territories. The lawsuit alleged that Equifax's failure to take reasonable steps to secure its network—which contained ...

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Richard W. Gonnello

SEC’s Recent Cryptocurrency Comments

Posted by Richard W. Gonnello on 12/09/2019

On November 6, 2019, the SEC's Division of Enforcement published its 2019 Annual Report ("Report"). This Report highlighted many of the Division's 2019 actions. Notably, it mentioned the Division's recent actions against fraudulent issuers of cryptocurrency—digital assets designed to work as a mediums of exchange that use cryptography, or ...

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Megan Sullivan

SEC Proposes Modernized Derivatives Regulations

Posted by Megan Sullivan on 12/09/2019

On November 25, 2019, the United States Securities and Exchange Commission ("SEC") voted to propose a new rule designed to improve the regulation of derivative securities used by investment companies, including mutual funds and exchange-traded funds ("ETFs"). In light of the growing trend in the investment fund industry of using derivatives ...

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Michael Van Gorder

Calumet Fined $250,000 for Hasty Earnings Release

Posted by Michael Van Gorder on 12/05/2019

On November 25, 2019, Calumet Specialty Products Partners, L.P. ("Calumet") agreed to pay the SEC a $250,000 fine stemming from material misstatements the Company made regarding its 2017 financial results. In September 2017, Calumet disclosed that its internal control over financial reporting ("ICFR") was ineffective due to the implementation ...

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Patrick J. Collopy

$26 Million Dollar Settlement to California McDonald’s Employees for Wage Theft

Posted by Patrick J. Collopy on 12/04/2019

On November 22, 2019, McDonald's agreed to pay $26 million to a class of California employees for various wage violations. The settlement provides relief to approximately 38,000 current and former McDonald's employees that worked at California restaurants at any time since 2009. Employees claim McDonald's violated California labor law by, ...

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Faruqi & Faruqi

Why does false advertising occur? Can I sue a company because of something on the label of the product or an advertisement?

Posted by Faruqi & Faruqi on 12/03/2019

See informative video here: https://www.faruqilaw.com/uploads/blog/1575416516-why-does-false-advertising-occur-can-i-sue-a-company-because-of-something-on-the-label-of-the-product-or-an-advertisement.mp4 Oftentimes, when people think of false advertising, they imagine television ads or representations made by a car salesman. While advertisements ...

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Dillon Hagius

Why are so many law firms involved in the case?

Posted by Dillon Hagius on 12/03/2019

See informative video here: https://www.faruqilaw.com/uploads/blog/1575415626-why-are-so-many-law-firms-involved-in-the-case.mp4 There are two primary reasons that many law firms are involved in the initial stages of a securities class action lawsuit. First, multiple cases are often filed against the same company, stemming from the same fraudulent ...

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Dillon Hagius

What kind of information can be stolen in a data breach?

Posted by Dillon Hagius on 12/03/2019

See informative video here: https://www.faruqilaw.com/uploads/blog/1575415264-what-kind-of-information-can-be-stolen-in-a-data-breach.mp4 Almost every piece of personal information that you provide to a company, whether online or in person, can be stolen. This oftentimes includes credit card numbers, Social Security numbers, dates of birth, ...

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Faruqi & Faruqi office in New York, New York

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Faruqi & Faruqi office in Atlanta, Georgia

Faruqi & Faruqi office in Philadelphia, Pennsylvania