Douglas v. U.S. District Court ex rel Talk America

Sanford Heisler Sharp Secures Class Certification In $85 Million ERISA Class Action Against Global Consulting, Actuarial Firm Milliman, Inc.

Retrieved on:

Tuesday, October 10, 2023

Douglas v. U.S. District Court ex rel Talk America, Investment, Retirement, Risk, District court, Fund, ERISA, Milliman

The case has been litigated by Sanford Heisler Sharp Partners Charles Field and Kate Mueting; Chairman David Sanford; and Associates Denise Choung, David McNamee and Ari Rubin.

Key Points:

The case has been litigated by Sanford Heisler Sharp Partners Charles Field and Kate Mueting; Chairman David Sanford; and Associates Denise Choung, David McNamee and Ari Rubin.
“Milliman failed to remove the in-house target risk funds that significantly underperformed meaningful benchmarks for nearly a decade,” said Charles Field, Chair of Sanford Heisler Sharp’s Financial Services Practice Group.
“The inclusion of these underperforming target risk funds had negative long-term consequences for a large number of Milliman employees and is indefensible.
In finding that the Rule 23 class certification requirements were met, Judge Zilly rejected the defendants’ arguments that the class could not be certified because some class members signed arbitration agreements.

NCLA Suit Challenges AIM Act for Unlawfully Delegating Power over Refrigeration Companies to EPA

Retrieved on:

Thursday, October 5, 2023

Congress, Douglas v. U.S. District Court ex rel Talk America, RMS, HFC, Constitution, District court, Legislation, EPA, United States Environmental Protection Agency, NCLA, American Innovation and Choice Online Act, AIM, Policy, Hydrofluorocarbon, Southeastern Legal Foundation, Dietary supplement, Choice

Congress passed the American Innovation and Manufacturing (AIM) Act of 2020 to phase down HFC production, empowering EPA to distribute a limited and ever-shrinking number of allowances for companies to manufacture or import these critical products.

Key Points:

Congress passed the American Innovation and Manufacturing (AIM) Act of 2020 to phase down HFC production, empowering EPA to distribute a limited and ever-shrinking number of allowances for companies to manufacture or import these critical products.
The AIM Act gives EPA essentially no guidance as to who should receive the allowances, violating Constitutional restrictions on Congress’s abdicating legislative authority to agencies.
Article I, § 1 of the Constitution vests such power solely in Congress, which may not divest it to EPA, or any other executive branch agency.
Here, Congress was derelict in its duty to make policy decisions that EPA would then implement.

SEC Obtains Emergency Relief To Halt Nearly $130 Million Fraud Targeting Indian American Community

Retrieved on:

Monday, October 16, 2023

Douglas v. U.S. District Court ex rel Talk America, Investment, Fraud, Complaint, District court, GK, Charles Ponzi, SEC Rule 10b-5, Krishnan, Investment Advisers Act of 1940, Security (finance), Cryptocurrency

Washington, D.C.--(Newsfile Corp. - October 16, 2023) - The Securities and Exchange Commission today announced that it obtained a temporary restraining order, asset freeze, and other emergency relief to halt an ongoing fraud targeting the Indian American community that has raised nearly $130 million since April 2021.

Key Points:

Washington, D.C.--(Newsfile Corp. - October 16, 2023) - The Securities and Exchange Commission today announced that it obtained a temporary restraining order, asset freeze, and other emergency relief to halt an ongoing fraud targeting the Indian American community that has raised nearly $130 million since April 2021.
The SEC’s complaint alleges that the Founders overstated the profitability of the investments and paid investors at least $17.8 million in fake profits that were actually Ponzi payments.
The SEC’s complaint further alleges that defendants misrepresented Krishnan’s expertise and success using his eponymous “GK Strategies” options trading method.
“Through allegedly false promises of unrealistic returns and lies about the success of their investing strategies, the defendants raised nearly $130 million from investors.

Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed on Behalf of Discover Financial Services (DFS) Investors and Encourages Investors to Contact the Firm Before October 31, 2023

Retrieved on:

Thursday, October 12, 2023

Class Action Lawsuit, Professional Services, Legal, Douglas v. U.S. District Court ex rel Talk America, DFS, NYSE, Risk management, Court, District court, FDIC, Kirby, News, Discover Financial, Bank, Discover

Investors have until October 31, 2023 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

Key Points:

Investors have until October 31, 2023 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
On July 20, 2022, Discover disclosed an internal investigation into its student loan servicing practices.
On this news, Discover shares declined by $9.69, or approximately 9.4%, to close at $92.96 per share on August 15, 2023.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation.

Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed on Behalf of Integra LifeSciences Holdings Corporation (IART) Investors and Encourages Investors to Contact the Firm Before November 13, 2023

Retrieved on:

Thursday, October 12, 2023

Class Action Lawsuit, Professional Services, Legal, Integra, Douglas v. U.S. District Court ex rel Talk America, LLP, Court, District court, FDA, Lipopolysaccharide, Kirby, News, Pharmaceutical industry

Investors have until November 13, 2023 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

Key Points:

Investors have until November 13, 2023 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
Integra also disclosed declining operating margins for the second quarter of 2023 and flat revenue growth projections, which the Company attributed to the manufacturing stoppage.
On May 23, 2023, Integra announced a recall of all products manufactured at the Company’s Boston facility between March 1, 2018 and May 22, 2023.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation.

Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed on Behalf of DigitalOcean Holdings, Inc. (DOCN) Investors and Encourages Investors to Contact the Firm Before November 13, 2023

Retrieved on:

Thursday, October 12, 2023

Class Action Lawsuit, Professional Services, Legal, Douglas v. U.S. District Court ex rel Talk America, Annual report, NYSE, Disclosure, Court, Bank statement, DigitalOcean, District court, Class, Kirby, News, Research

Investors have until November 13, 2023 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

Key Points:

Investors have until November 13, 2023 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
On August 3, 2023, DigitalOcean announced that it had made errors on previously issued financial statements for the period ended June 30, 2023.
On the same day, DigitalOcean filed an amendment to its annual report for the year ended December 31, 2022.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation.

Kirby McInerney LLP Announces the Filing of a Securities Class Action on Behalf of Kenvue Inc. (KVUE) Investors

Retrieved on:

Tuesday, October 10, 2023

Class Action Lawsuit, Professional Services, Legal, Douglas v. U.S. District Court ex rel Talk America, NYSE, Food, Phenylephrine, Court, Risk, Prospectus, Johnson & Johnson, District court, KVUE, Kirby, Regulation of tobacco by the U.S. Food and Drug Administration, News, Security (finance), Pharmaceutical industry, IPO

Investors have until December 8, 2023 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

Key Points:

Investors have until December 8, 2023 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
On November 12, 2021, Johnson & Johnson announced the creation of Kenvue as a wholly owned consumer health subsidiary.
On May 3, 2022, Johnson & Johnson and Kenvue jointly announced that the price of Kenvue’s IPO would be $22 per share.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation.

Student Loan Debt Relief Scammers Permanently Banned from Industry, Ordered to Turn Over Assets under Proposed Order

Retrieved on:

Monday, October 16, 2023

Federal Trade Commission, FTC, Douglas v. U.S. District Court ex rel Talk America, COVID-19, Castillo, Student, Central District, Commission, CARES Act, Blog, District court, Consumer protection, Program, BCO, News, Office of Inspector General, U.S. Department of Health and Human Services, Social media, United States Secretary of Education, Bhakti

Two groups of student loan debt relief scammers will be permanently banned from the debt relief industry and are required to turn over their assets as part of a settlement with the Federal Trade Commission.

Key Points:

Two groups of student loan debt relief scammers will be permanently banned from the debt relief industry and are required to turn over their assets as part of a settlement with the Federal Trade Commission.
The SL Finance defendants also falsely claimed that their program was part of the CARES Act or a similar COVID-19 relief program, according to the complaint.
Under the proposed orders with SL Finance, its owners, and BCO Consulting and its owners, the defendants will be permanently banned from debt relief of any kind.
They will also be banned from making any misrepresentations about financial products or services and from using false statements to collect consumers’ financial information.

FTC Action Leads to Lifetime Ban for Skin Cream Marketer Who Charged Consumers Millions in Junk Fees

Retrieved on:

Monday, October 16, 2023

Federal Trade Commission, FTC, Douglas v. U.S. District Court ex rel Talk America, Judgement, Pai, Retirement, Commission, Disclosure, Blog, District, District court, Consumer protection, News, Social media, Insurance

Consumers who bought the products were not aware that they would later be charged the full price for the products and a recurring monthly charge.

Key Points:

Consumers who bought the products were not aware that they would later be charged the full price for the products and a recurring monthly charge.
The FTC also alleged that Pai created hundreds of shell companies to facilitate payment processing for the scam.
The relinquished assets will be used by the FTC to provide refunds to consumers harmed by the scam.
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