Kahn Swick & Foti, LLC Announces Proposed Settlement of Twitter, Inc. Stockholder Derivative Litigation
KSF’s stockholder derivative action was brought on behalf of Twitter, Inc. (“Twitter”) against several of Twitter’s current and former directors and officers for breach of fiduciary duties. On December 17, 2020, plaintiffs were able to secure a settlement providing that Twitter’s board of directors will pay $38 million in cash to Twitter and $8.75 million in attorney fees and court costs.
On November 19, 2020, the Hon. Thomas P. Barber, United States District Court Judge for the Middle District of Florida, entered an Order preliminarily approving a $2,800,000 class action settlement on behalf of all Persons or entities who purchased or otherwise acquired HIIQ publicly-traded securities between August 4, 2017 and September 11, 2017, inclusive.
On November 19, 2020, the Hon. Arthur J. Tarnow issued an Order granting Plaintiffs’ motion for class certification in its entirety in Dougherty v. Esperion Therapeutics, Inc.
On July 30, 2020, the Hon. J. Paul Oetken, United States District Court Judge for the Southern District of New York, entered an Order preliminarily approving a $1,600,000 class action settlement in Intellipharmaceutics Securities Litigation
On August 17, 2020, the Hon. Kathleen Kay of the Western District of Louisiana approved the selection of KSF as Lead Counsel for the putative class in Welch v. Meaux, et al.
On July 27, 2020, the Hon. Lucy H. Koh of the Northern District of California approved the selection of KSF as Lead Counsel for the putative class in In Re Cloudera Securities Litigation.
On July 20, 2020, the Hon. Lucy H. Koh of the Northern District of California approved the selection of KSF as Lead Counsel for the putative class in Ikeda v. Baidu, Inc.
On July 13, 2020, a three-judge panel for the Second Circuit Court of Appeals vacated in-part the dismissal order of Hon. William H. Pauley III, reviving investors’ Exchange Act claims against NewLink Genetics Corp.
On May 31, 2020 the Honorable R. Steven Whalen certified a class of shareholders in Dougherty v. Esperion Therapeutics, Inc. et al, No. 2:16-cv-10089, a securities fraud class action involving Defendants’ materially misleading statements and omissions concerning a cardiovascular outcomes trial for the Company’s lead drug candidate.