Securities Fraud
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Wells Fargo & Co. has agreed to pay an $85 million settlement to resolve a class-action lawsuit accusing the banking giant of staging fake job interviews with minority and female candidates to bolster its diversity statistics rather than genuinely hiring diverse talent. The case, filed by SEB Investment Management on behalf of shareholders, alleged that…
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New York Attorney General Letitia James has opened a preliminary investigation into potential insider trading involving individuals in President Donald Trump’s orbit, expanding her office’s already extensive legal scrutiny of the former president and his administration. According to Business Insider, the inquiry centers on unusual trading activity that occurred shortly before a social media post…
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Wisconsin Attorney General Josh Kaul has filed a lawsuit to prevent billionaire Elon Musk from distributing $1 million payments to voters ahead of the state’s Supreme Court election. Kaul argues that Musk’s proposed financial incentives violate Wisconsin’s election bribery statutes, which explicitly prohibit offering anything of value in exchange for voting. The move has sparked…
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The U.S. Supreme Court’s unanimous ruling, penned by Justice Sonia Sotomayor, grants Macquarie Infrastructure a victory, barring shareholders from suing for fraud solely based on a breach of disclosure rules. The case centered on allegations that Macquarie failed to divulge the risk posed by an international phasing out of high-sulfur fuel oil from 2016 to…
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