Tag: Securities

Scott+Scott Files Lawsuit Against Meta Over Scam Ads

Scott+Scott this week filed a class action lawsuit against Meta, Instagram and WhatsApp on behalf of two financial professionals, alleging that the social media giants violated state and federal law by allowing scam impersonation advertisement on their platforms. According to the complaint Meta allowed fake impersonation ads on its platforms that “were designed to and caused consumer confusion, diverted prospective clients, damaged goodwill, as well as exposed class members to reputational harm, regulatory inquiries, and lost business opportunities. “

Co-Lead Counsel in Securities Case Against Linqto Inc.

We are pleased to announce that Judge Lewis A. Kaplan of the United States District Court for the Southern District of New York has appointed Scott+Scott, along with co-counsel, as plaintiffs’ Co-Lead Counsel in a securities class action lawsuit against William Sarris, the founder and former CEO of Linqto Inc., a fintech platform that offered private investment in startups and pre-IPO companies. The charges outlined in the complaint include unregistered broker-dealer activity, excessive markups, fraudulent offerings and series deficiencies, and non-exempt unregistered securities offerings.

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Perspective: Litigation – State of pay?

Scott+Scott managing partner David Scott comments on how changes in legislation like the UK’s Consumer Rights Act 2015 have led to an increase of class actions led by pension funds as they seek to recover investment losses and improve corporate governance.

downward stock chart on top of a world map

Teamsters Fund Sues AllianzGI For Hedge Fund Losses

Scott+Scott filed suit on behalf of Participants in the Teamster Members Retirement Plan against Allianz Global Investors and its subsidiaries, saying investors in a hedge fund it managed lost nearly $1 billion.

Scott+Scott Obtains Restraining Order in Action Over Madoff Losses

Scott+Scott LLP’s New York-based partner Beth Kaswan and her team of litigators won a critical court order yesterday on behalf of the firm’s client New York University.

Business Professional looks out window with financial papers on a table

NOVEL INVESTOR RECOVERY: Scott + Scott successfully sues two large banks under the Trust Indenture Act of 1939- a first in federal securities litigation.

Scott+Scott filed suit on behalf of the investor Plaintiffs claiming that when the two banks took over trustee duties on a portfolio of loans from Washington Mutual NA, they ignored the presence of loans with underwriting defects. Scott +Scott was the first firm ever to seek to assist investors by pursuing remedies under the Trust Indenture Act of 1939.