Calling the lawsuit an example of a “racket” aimed at merging companies, a federal appeals panel in Chicago has tossed out a settlement intended to end a shareholder class action brought over the Walgreens Boots Alliance merger, saying the lawsuit and related settlement did nothing more than contribute a quick $370,000 payment to the plaintiffs’ lawyers.
An Illinois woman’s false advertising complaint against Johnson & Johnson is allowed to proceed after a judge denied the company’s motion to dismiss, saying the woman had done enough so far to allow her to argue Johnson & Johnson misled her and others into buying products the company claimed were clinically proven to help babies sleep better. Stephanie Leiner, of Chillicothe, filed a class action lawsuit July 2 in federal court in Chicago against N.J.-based Johnson & Johnson.
Shareholder says Vasco management should pay for shares crash following news of product sales to Iran
The directors and executive of an Oakbrook Terrace-based provider of digital financial security products has been hit with a lawsuit brought by a shareholder who has claimed the company’s management should be made to pay for allegedly concealing from investors – or at least not properly moving to address – the possibility an international distributor sold the company’s products to buyers in Iran while economic sanctions forbidding such sales were in place.