Norfolk Southern, a transportation company, is facing legal action for allegedly violating federal securities laws by making false and misleading statements about its business operations and prospects. As a result, the company's investors have suffered significant losses. The company has been accused of putting profits and executive compensation above safety, including adopting a system that [...]

Sonn Law Group has filed a FINRA arbitration claim on behalf of its client, an armed forces member, against Monmouth Capital Management, LLC (“MCM”) regarding its former financial advisor Caz Craffy. The claim alleges that Mr. Craffy engaged in unauthorized and excessive trading/churning resulting in losses to the client. The claim also alleges that MCM [...]

Match is a technology and social media company that operates a large portfolio of online dating brands and apps. Among its most notable dating apps are Tinder, Hinge, OkCupid, and PlentyOfFish. Tinder is Match's largest and most important brand, generating more than half of its revenue during the Class Period, which started on November 3, [...]

The founder of Frank, a student loan assistance company that has since been closed down, has been charged with fraud by the Securities and Exchange Commission (SEC). Charlie Javice is accused of deceiving JPMorgan Chase Bank, N.A. (JPMC) during the $175 million sale of Frank to the bank in 2021. The SEC alleges that Javice [...]

A group of investors led by Edwin Garrison has filed a class-action suit against a group of YouTube "FTX influencers," seeking $1 billion in damages for promoting FTX crypto fraud without disclosing compensation. The lawsuit was filed on March 15th in the Southern District of Florida, Miami Division. The defendants are eight YouTubers, the talent [...]

SVB Financial Group, the parent company of Silicon Valley Bank, along with CEO Greg Becker and CFO Daniel Beck, are facing a class-action lawsuit that accuses them of failing to disclose the risks associated with future interest rate increases. The lawsuit, filed in the U.S. district court for the Northern district of California, seeks unspecified [...]

A class action lawsuit has been initiated in the United States District Court for the Southern District of New York on behalf of Amgen investors. The lawsuit pertains to all individuals who purchased or acquired Amgen common stock between July 29, 2020 and April 27, 2022, inclusive. The complaint filed by the plaintiffs alleges that [...]

Merrill Lynch, Pierce, Fenner & Smith Incorporated has been charged by the Securities and Exchange Commission (SEC) for imposing undisclosed foreign exchange fees on advisory clients. According to the SEC, Merrill Lynch charged more than $4 million in fees for transfers to or from advisory clients' accounts. Merrill Lynch offered programs to advisory clients from [...]

The Securities and Exchange Commission (SEC) has charged three executives of Austal USA LLC, a shipbuilder based in Mobile, Alabama, for their involvement in a fraudulent revenue recognition scheme. The scheme allowed Austal's parent company, Austal Limited, to meet or exceed analyst expectations. The SEC alleges that from January 2013 to July 2016, Craig D. [...]