Alyssa Aquino

2 weeks ago | law.com | Alyssa Aquino

A Manhattan federal magistrate advanced a $17.5 million settlement that would end shareholder claims that a Facebook content moderator used fake Glassdoor reviews to trick investors into believing that the company was outperforming peers with high employee turnover rates. U.S. Magistrate Judge Gary Stein of the District Court of the Southern District of New York recommended on Tuesday that a federal judge preliminarily approve the settlement.

2 weeks ago | law.com | Alyssa Aquino

The New York State Unified Court System approved a new rule allowing non-parties to submit friend-of-the-court briefs in cases before the Commercial Division, making the state’s business courts one of the few trial courts in the nation to formalize a procedure for amici input. Signed by Chief Administrative Judge Joseph Zayas on May 13, the rule will go into effect on July 7.

2 weeks ago | law.com | Alyssa Aquino

Shell Nigeria won the dismissal of a $58 million lawsuit alleging it used money intended for a Nigerian government contractor to bribe officials into accepting an oil and gas processing facility. Represented by Am Law 100 firm Haynes Boone, the Shell Petroleum Development Company of Nigeria Ltd. successfully argued that the U.S. District Court for the Southern District of New York lacked the jurisdiction to hear a case brought in October by Forstech Technical Nigeria Ltd.

2 weeks ago | law.com | Alyssa Aquino

The nation’s largest public pension fund asked the Manhattan federal court to relinquish a securities suit alleging that UnitedHealth misled investors on the fallout from the killing of an insurance executive, arguing the case undermines its year-old suit against the company. The California Public Employees’ Retirement System, or CalPERS, argued that investor Roberto Faller’s new case against UnitedHealth was “wholly duplicative” of its complaint, which was filed in May 2024.

2 weeks ago | law.com | Alyssa Aquino

Capital One will pay $425 million to end consumer claims that the financial services company cheated 360 Savings account holders out of millions of dollars worth of interest payments, according to a recent court filing. Capital One N.A. and customers from 18 different states, including New York, informed the Virginia federal court of the settlement late Friday, saying the deal, if finalized, would permanently resolve a nationwide class action that has been brewing for less than a year.