The Litigation Counsellor®

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Fitbit Shareholders Ask Judge to Approve $33M in Securities Suit

Elizabeth DiNardo, Esq. | Associate Counsel

On January 8, 2018, Fitbit investors asked U.S. District Judge Susan Illson to grant preliminary approval of a $33 million settlement involving Fitbit, company executives and underwriters who artificially inflated stock prices while concealing defects associated with its fitness-tracking technology.

Frontier Shareholders File Class Claims Arguing Securities Fraud

Elizabeth DiNardo, Esq. | Associate Counsel

On October 4, 2017, a group of Frontier Communications Corp. investors filed putative class claims against the communications services provider in Connecticut federal court. Plaintiffs allege that Frontier violated securities law when it failed to disclose the financial impact of a large number of unpaid user accounts taken on by the company after its $10.5 billon acquisition of Verizon Inc. wire line operations in California, Texas and Florida.

Bondholders Playing Larger Role in Securities Class Actions According to Study

Robert Carbone, Esq. | Deputy General Counsel, Attorney Relations

Class actions brought on behalf of bondholders of public companies are playing a larger role in the overall landscape of securities class actions, an article recently published in the Minnesota Law Review says. Bondholders, often considered an afterthought in the securities fraud context due to claims by equity holders predominating, have been generating more recoveries, warranting a reconsideration of the prospects of bondholder claims in public company securities fraud cases.