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FDAzar > Class Action Lawsuits

WHISTLEBLOWER CASES: EXPOSING FRAUD, RIGHTING WRONGS

Woman blowing whistle and pointing

A few weeks ago the Securities and Exchange Commission (SEC) announced that it was paying substantial awards to two private individuals who had assisted the agency in a major enforcement action. One of the two received payment of $15 million; the other received $39 million. All of the money came from fines paid by a major company that had been caught violating securities laws. The SEC declined to reveal the identities of the two recipients. It didn’t reveal any details of the investigation, either, or the name of the major company that was involved, out of concerns that it would compromise...

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GOOGLE LAWSUIT: SMARTPHONE USERS SUE OVER SECRET DATA TRACKING

A federal lawsuit claims that Google has generated millions in revenue by secretly storing location data of mobile phone users who believe they’ve opted out of such tracking. That lawsuit was filed October 19 in the Northern District of California by Franklin D. Azar & Associates and seeks class action status on behalf of iPhone and Android users nationwide whose location information was stored by Google despite their efforts to disable the service. HOW DOES GOOGLE SECRETLY STORE YOUR LOCATIONS? A mobile phone’s location is typically tracked by Google whenever the owner uses Google Maps or similar applications. Google’s support page claims that...

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CENTURYLINK LAWSUIT: RETIREMENT FUND INVESTORS SEEK CLASS ACTION STATUS

A motion filed in U.S. District Court in Denver asks a federal judge to grant class action status to a lawsuit against CenturyLink, claiming that the telecom giant mismanaged a retirement fund and cost beneficiaries millions in losses from bad investments. Bonnie Birse and Gerad Detwiler, the named plaintiffs in the suit, are seeking class action certification on behalf of thousands of other participants in the CenturyLink Dollars and Sense 401(k) Plan who invested in the underperforming fund over a five-year period, from April 2012 to the end of September 2017. CENTURYLINK LAWSUIT – A QUESTION OF PERFORMANCE At issue is the Active...

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AZAR FIRM SUES FACEBOOK OVER LATEST SECURITY BREACH

Facebook users affected by the social media giant’s latest security breach have filed a federal class action lawsuit against the company, claiming that a flaw that allowed hackers access to personal data has exposed millions of people to the risk of identity theft. The lawsuit was filed late last week in the Northern District of California by Franklin D. Azar & Associates on behalf of named plaintiffs in California, Colorado and New Jersey. The complaint seeks class action status on behalf of all Facebook users whose private information was compromised by the massive data breach. WHAT IS THE FACEBOOK BREACH? Facebook announced on...

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Azar Law Firm Named Lead Counsel in Securities Class Action Against Flex, Ltd.

DENVER— Franklin D. Azar & Associates, P.C., has been appointed as co-Lead Counsel in a federal securities class action lawsuit filed against the global electronics giant Flex, Ltd., and two of its senior executives. The suit seeks to recover losses suffered by Flex investors after, the complaint alleges, Flex and its senior executives made material misstatements and omissions concerning the company’s internal controls over financial reporting. FDAzar and the Boston-based Thornton Law Firm are litigating the case as co-Lead Counsel on behalf of the Lead Plaintiff, the Bristol County Retirement System, and other Flex shareholders who comprise the putative class members....

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WHAT GOES UP: THE VOLATILE WORLD OF CRYPTOCURRENCY

Bitcoins

Tales of instant wealth are hard to resist. Popular media accounts about the emerging markets for cryptocurrency are teeming with stories of overnight Bitcoin millionaires — like the 19-year-old investor featured in this CNBC report, who parlayed a $1000 gift from his grandmother into a fortune that CNBC valued at $4.4 million. Spurred on by such news, a stampede of hopefuls have plunged into the cryptocurrency markets in the past two years, hoping to make a killing, even if they don’t know the difference between a blockchain and a blockbuster. Unfortunately, those who belatedly joined the feeding frenzy have seen...

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PLAN PARTICIPANTS WIN ROUND IN BATTLE OVER NATIONWIDE 401K FEES

A federal judge has denied a motion to dismiss a lawsuit that claims financial services giant Nationwide Insurance Company is charging excessive fees for recordkeeping for 401(k) plans. The lawsuit, filed in June 2017 by Denver law firm Franklin D. Azar & Associates, alleges that Nationwide charged the Andrus Wagstaff, PC 401(k) plan and other similarly situated 401(k) plans excessive fees for recordkeeping and other services, resulting in charges as high as $625 per participant in 2014 and $500 per participant in 2015. The lawsuit alleges that those fees are almost ten times the reasonable charge for recordkeeping and other services,...

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OMG, TMI: TIPS FOR PROTECTING YOUR PRIVACY ONLINE

These are tumultuous times out in cyberspace, from the massive data breach at Equifax last year that compromised the personal data of 148 million people to the recent revelations that private information about millions of Facebook users ended up in the hands of a political data firm seeking to influence voter behavior. In the wake of those incidents and others, more and more users of social media doubt their ability to protect their personal information online. According to a survey by the Pew Research Center, only nine percent of respondents are “very confident” that the safeguards on social media sites...

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WELLS FARGO CLASS ACTION LAWSUITS SEEK DAMAGES FOR EXCESSIVE AUTO LOAN COSTS

insurance contract

Thousands of motorists who financed their cars through Wells Fargo over the past decade may be entitled to compensation for being forced to buy insurance they didn’t need or for other fees that weren’t properly refunded. Two separate class-action lawsuits filed by Franklin D. Azar & Associates are seeking refunds for bank customers of the improper charges, and class members may be entitled to additional compensation for other damages caused by Wells Fargo’s actions...

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