A California federal judge has granted Atlassian Corp.'s motion to dismiss a proposed class action from a group of public pension funds alleging the Australian software company misled investors by concealing trends in its conversion from free to paid users that showed slowed growth, saying the suit's claims were not strong enough to survive dismissal.
The Consumer Financial Protection Bureau and a multistate coalition of attorneys general, including New York Attorney General Letitia James, have sued financial services firm StratFS and a web of related shell companies for running an illegal debt-relief enterprise that allegedly defrauded consumers out of more than $100 million.
A Texas federal judge has given the U.S. Securities and Exchange Commission a partial early win in its suit against an investment adviser and his firm over an alleged $58 million Ponzi scheme, including portions of all four counts of antifraud provision violations and two counts of Investment Advisers Act violations.
A Greek Orthodox priest and hedge fund manager who fended off certain claims by the U.S. Securities and Exchange Commission at trial asked a Massachusetts federal judge to grant him more than $1.7 million in attorney fees and costs, arguing he is entitled since he largely prevailed in the case.
Netflix and its top brass have beaten for now an investor suit over statements they made about the company's growth, customer retention and challenges related to shared accounts, with a California federal judge saying the suit fails to sufficiently plead any of the identified statements were misleading.