Category: misleading

AIG Subsidiary Files for Chapter 11 Bankruptcy

December 14, 2022
bankruptcyBusiness & MarketsCompaniesmisleadingProtection
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American International Group Inc. said on Wednesday its subsidiary, AIG Financial Products (FP), had filed for Chapter 11 bankruptcy protection to complete the wind down of a business unit that was a central figure in the 2008 financial crisis. AIG Financial Products largely ceased operations in 2008, and its bankruptcy will not have a material…

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AstraZeneca Beats US Shareholder Lawsuit Over COVID-19 Vaccine Disclosures

September 13, 2022
AstrazenecaBusiness & MarketsCCP VirusCompaniesdefraudmisleadingPfizerUSUS NewsVaccines & Safety
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NEW YORK—AstraZeneca Plc. on Monday won the dismissal of a U.S. shareholder lawsuit claiming that it concealed problems in developing its COVID-19 vaccine, making it unlikely the treatment would win regulatory approval in the United States. U.S. District Judge Paul Oetken in Manhattan said AstraZeneca shareholders in the proposed class action failed to identify any…

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Coinbase Issued ‘False,’ ‘Misleading’ Statements Ahead of Public Listing: Shareholder Lawsuit

August 11, 2022
Business & MarketscoinbaseCompaniescryptocurrencyeconomylawsuitMarketsmisleading
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Cryptocurrency exchange Coinbase Global Inc. has been accused of misleading investors regarding its public listing, as per a new shareholder derivative lawsuit. What Happened Coinbase and nine of its executives allegedly breached fiduciary duties, violated the securities act, and issued false and misleading statements concerning its direct listing, according to a shareholder complaint filed on Aug 4. The executives’…

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