A court-appointed receiver for automotive software company Link Motion Inc. has been ordered by a federal judge in Manhattan to address claims that its agent in China made payments to the Greenberg Traurig LLP legal team that's representing an investor whose fraud suit put the company in receivership in the first place.
Wells Fargo has urged a San Francisco federal judge to toss a proposed investor class action alleging the bank interviewed job candidates for filled roles to satisfy its own diversity initiative criteria, arguing that the investors "made up" their allegation that more than 25 sources have confirmed the sham interviews were a systemic issue.
Bank of America NA has asked a San Diego federal judge to toss additional claims from recently trimmed multidistrict litigation taking the bank to task over its alleged "egregious maladministration" of prepaid debit cards used to distribute California state unemployment benefits.
Israeli cybersecurity outfit Tufin Software Technologies Ltd. has reached a $2 million agreement to settle investor claims that it mischaracterized its business prospects in the lead-up to its $108 million initial public offering in 2019.
Electric-truck maker Workhorse Group Inc. has reached a $12.5 million settlement in a shareholder derivative action that alleged directors and former executives breached their fiduciary duty during a tumultuous 2021 when the company lost its bid for a lucrative federal contract, faced two government investigations and recalled some vehicles.