Jury finds Elon Musk liable for misleading investors ahead of Twitter acquisition A jury in California has found billionaire Elon Musk liable for misleading investors ahead of his $44 billion acquisition of Twitter, which he later renamed X. Jurors were asked to decide if two tweet...

A jury found Musk liable for misleading Twitter shareholders with false bot-count claims before his $44B takeover. Plaintiffs want $2.6B. He's appealing but "Teflon Elon" just cracked. #X #Musk #TwitterFraud #ShareholderLawsuit #Accountability

www.nbcnews.com/video/jury-f...

Meta settles shareholder lawsuit for $190 million over privacy failures Meta agrees to $190 million settlement with shareholders who alleged board failures over Cambridge Analytica scandal and FTC privacy violations from 2018 to 2025.

Meta settles shareholder lawsuit for $190 million over privacy failures #Meta #Privacy #CambridgeAnalytica #ShareholderLawsuit #Settlement

Meta settles shareholder lawsuit for $190 million over privacy failures Meta agrees to $190 million settlement with shareholders who alleged board failures over Cambridge Analytica scandal and FTC privacy violations from 2018 to 2025.

Meta settles shareholder lawsuit for $190 million over privacy failures #Meta #Privacy #CambridgeAnalytica #ShareholderLawsuit #Settlement

Peloton must face shareholder lawsuit over post-pandemic outlook NEW YORK (Reuters) -Peloton Interactive must face a lawsuit claiming it defrauded shareholders by masking excess inventory of its home exercise equipment as the worst of the COVID-19 pandemic passed, a divided federal appeals court ruled on Wednesday. Reversing a lower court ruling, the 2nd U.S. Circuit Court of Appeals in Manhattan said shareholders can try to prove that the maker of stationary bikes and treadmills made three false and misleading statements that inflated its stock price. The statements included former Chief Executive John Foley’s claim in an August 26, 2021 earnings call that a $400 bike price cut was an "absolutely offensive" strategy to boost sales, rather than a defensive strategy to counteract weakness. They also included two warnings in Peloton regulatory filings of hypothetical risks regarding "excess inventory levels." Circuit Judge Steven Menashi said shareholders offered evidence that the price cut was actually a defensive move to clear out three months of inventory, and that the risks of excess inventory had already materialized. "In sum, we conclude that the plaintiffs have plausibly alleged actionable misstatements or omissions," Menashi wrote for a 2-1 majority. Shareholders sued after the stock price of New York-based Peloton fell more than 80% from February 5, 2021 to January 19, 2022, a period when vaccines became widely available and gyms began reopening. The decline included a 35% one-day plunge on November 5, 2021, after Peloton reduced its full-year earnings forecast by as much as $1 billion and said 91% of inventory was unsold. 3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. Peloton’s stock price has fallen approximately 95% since early 2021. Wednesday’s decision upheld the August 2024 dismissal by U.S. District Judge Andrew Carter in Manhattan of claims based on six other Peloton statements, and returned the case to him. Circuit Judge Jon Newman dissented, saying Foley’s and Peloton’s statements were not false and misleading in light of other information available to investors. He also expressed a "high degree of confidence" the lawsuit will be dismissed because shareholders won’t prove Peloton intended to defraud them. Peloton did not immediately respond to requests for comment. Lawyers for the shareholders did not immediately respond to similar requests. The case is City of Hialeah Employees’ Retirement System et al v Peloton Interactive Inc et al, 2nd U.S. Circuit Court of Appeals, No. 24-2803. The fastest way to find out is with our Fair Value calculator. We use a mix of 17 proven industry valuation models for maximum accuracy. Get the bottom line for PTON plus thousands of other stocks and find your next hidden gem with massive upside. Full access now available at 50% off while our Summer Sale lasts. Hurry, offer ends soon!

Click Subscribe #Peloton #ShareholderLawsuit #PostPandemic #Investing #StockMarket

Peloton must face shareholder lawsuit over pandemic inventory claims Investing.com -- Peloton Interactive will have to face a lawsuit claiming it misled shareholders about excess inventory as COVID-19 pandemic restrictions eased, following a federal appeals court ruling on Wednesday. The 2nd U.S. Circuit Court of Appeals in Manhattan reversed a lower court decision, allowing shareholders to proceed with claims that the exercise equipment maker made three false and misleading statements that artificially inflated its stock price. Among the contested statements was former CEO John Foley’s claim during an August 26, 2021 earnings call that a $400 price reduction on bikes represented an "absolutely offensive" sales strategy rather than a defensive move to address weakening demand. The lawsuit also challenges two warnings in Peloton regulatory filings about hypothetical risks of "excess inventory levels" that shareholders argue had already become reality. Circuit Judge Steven Menashi, writing for the 2-1 majority, noted that shareholders presented evidence suggesting the price cut was actually a defensive measure to clear three months of accumulated inventory. "In sum, we conclude that the plaintiffs have plausibly alleged actionable misstatements or omissions," Menashi wrote in the ruling. The shareholder lawsuit followed a period when Peloton’s stock price plummeted more than 80% between February 5, 2021 and January 19, 2022, coinciding with widespread vaccine availability and the reopening of gyms. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. 3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. ProPicks AI analyzes thousands of stocks using 100+ institutional-grade financial metrics to identify the strongest opportunities. With 80+ strategies across global markets, you might be surprised where PTON appears. Our flagship Tech Titans strategy doubled the S&P 500 within 18 months, including notable winners like Super Micro Computer (+185%) and AppLovin (+157%). Each strategy refreshes monthly with 10-20 high-conviction picks. Even if PTON isn't currently featured, you'll discover similar opportunities in the same industry or theme—stocks the AI identifies before they breakout. Now up to 50% off while our Summer Sale lasts.

Click Subscribe #Peloton #ShareholderLawsuit #PandemicImpact #StockMarket #InvestingNews

Shareholders have filed an $8 billion suit claiming deceptive user data handling by Mark Zuckerberg and Meta, potentially reshaping social media accountability standards

Facebook faces major privacy-practices lawsuit against Zuckerberg and Meta board #zuckerberglawsuit #techregulation #metasettlement #privacyrights #shareholderlawsuit

Click Subscribe #Barclays #Staley #JeffreyEpstein #ShareholderLawsuit #FinanceNews

Google will invest $500M in compliance program to settle shareholder lawsuit Google LLC plans to spend $500 million over the next decade to revamp its regulatory compliance efforts. The Financial Times reported the initiative today, citing a court document filed on Friday. Google...

Google will invest $500M in compliance program to settle shareholder lawsuit #Technology #Business #AcquisitionsandMergers Other $GOOGL #GoogleInvestments #ShareholderLawsuit #ComplianceProgram

Intel shareholder lawsuit dismissed — complaints stemmed from single-day $32B devaluation in 2024 Judge did not find enough evidence that Intel and its management did anything wrong with its financial reporting.

Intel shareholder lawsuit dismissed — complaints stemmed from single-day $32B devaluation in 2024 #Technology #Business #AcquisitionsandMergers Other #Intel #ShareholderLawsuit #BusinessNews

WWE Shareholder Lawsuit: New Allegations Against McMahon Investigation One Big Thing New filings in the WWE shareholder lawsuit claim the company’s investigation into Vince McMahon was a “sham” and allege the board rejected better merger deals to maintain McMahon’s control. Key Details Multiple plaintiffs, including pension…

WWE Shareholder Lawsuit: New Allegations Against McMahon Investigation #WWE #VinceMcMahon #ShareholderLawsuit