Evergrande bondholders threaten to sue after being blindsided by $2bn claim

“A group of bondholders is moving closer to formal legal action against Evergrande after the world’s most indebted property developer made a surprise disclosure that mystery lenders to one of its subsidiaries claimed more than $2bn in cash,” reports Joe Rennison in Financial Times.

“A group of distressed debt investors in the US and UK including Saba Capital, Redwood Capital Management and Ashmore met on Tuesday and directed lawyers to begin work on the legal analysis needed to decide whether to take action against Evergrande, according to people familiar with the talks.”

Read the article.

 




Rhode Island Reaches $107 Mln Opioid Settlements with Teva and Allergan

“Rhode Island’s attorney general on Monday announced settlements he valued at $107 million against the drug makers Teva Pharmaceutical Industries (TEVA.TA) and AbbVie’s (ABBV.N) Allergan unit to resolve claims over their roles in fueling an opioid epidemic in the state. Attorney General Peter,” reports Jonathan Stempel in Reuters.

“The settlements include $28.5 million in cash, plus the delivery to Rhode Island of anti-overdose treatments, 1 million Naloxone sprays and 67,000 bottles of Suboxone pills over 10 years. While no amount of money will ever be enough to undo the harm suffered by Rhode Islanders throughout the ongoing opioid epidemic, these additional.”

Read the article.

 




City Agrees to More than $2 Million Settlement in Parking Ramp Lawsuit

“A more than $2 million settlement was unanimously approved to end Rochester’s yearlong lawsuit related to the city’s newest parking ramp. The Rochester City Council agreed to accept a $2,025,000 settlement Monday night. The agreement which remained confidential until the settlement was approved,” reports Randy Petersen in Post Bulletin.

“Kraus-Anderson Construction Co. and MEP Associates LLC to make payments to the city within 30 days. City Attorney Michael Spindler-Krage said the exact split of the payments remains confidential and unknown to city officials. Additionally, the agreement does not include an admission of liability by any of the companies involved.”

Read the article.

 




Vivera Engages Star Legal Team to Lead $500 Million Lawsuit Against USA Today

“Vivera Pharmaceuticals, Inc. today announced the appointment of leading corporate law firm, Byrd Campbell, P.A., to represent the Company in its defamation lawsuit against USA Today and its parent companies, Gannett Co., Inc. and Gannett Satellite Information Network, LLC (“Gannett”),” reports Vivera Pharmaceuticals in PR Newswire.

“The Settlement Class could have achieved at the time, the biopharmaceutical company’s investors said in a memo filed in support of their final settlement approval bid in the U.S. District Court for the District of Maryland. The settlement class covers everyone who acquired IGC’s publicly traded common stock from Sept. 26, 2018.”

Read the article.

 




Long Beach Could Receive Up to $7.5 Million in Class-Action Settlement with Monsanto

“Long Beach could receive up to $7.5 million in a class action settlement with Monsanto from a lawsuit filed against the chemical maker alleging its products polluted the city’s bodies of water. The city announced the preliminary agreement Friday afternoon, but it could still be months or longer before,” reports Jason Ruiz in Long Beach Post.

“The settlement is formally approved and money is distributed to the suing parties. The settlement is with Monsanto and subsidiaries of Pfizer and Eastman Chemical over allegations that their products have polluted various cities over the past 70 years. Long Beach was joined by 12 other plaintiff municipalities including Oakland San Jose.”

Read the article.

 




Middletown Firm, Attorney General Settle Consumer Protection Suit for $1 Million

“Attorney General William Tong and Consumer Protection Commissioner Michelle H. Seagull filed a $5 million stipulation judgment against Safe Home Security and its president David Roman after the city-based company repeatedly failed over many years to comply with court-ordered,” reports The Middletown Press in their blog.

“The new judgment stipulation filed March 8 represents a settlement between the state and Safe Home to resolve claims brought by the state in its motion for contempt, Tong said in the news release. Families turned to Safe Home Security to safeguard their homes, and the company failed them, Tong said in a prepared statement. We have.”

Read the article.

 




Sugar-Free Pot Drink Investors Seek Final Nod on $1 Million Deal

“Globalization Capital Inc. investors who say the company misled them about plans for a sugar-free cannabis drink asked a federal judge in Maryland for final approval of their $1 million settlement. The cash deal followed more than a year of negotiations and represents the highest settlement amount,” reports Jennifer Bennett in Bloomberg Law.

“The Settlement Class could have achieved at the time, the biopharmaceutical company’s investors said in a memo filed in support of their final settlement approval bid in the U.S. District Court for the District of Maryland. The settlement class covers everyone who acquired IGC’s publicly traded common stock from Sept. 26, 2018.”

Read the article.

 




Victims of 2015 California Bridge Collapse to Share $38.5 Million Settlement

“A $38.5 million settlement has been reached between the builders of a bridge over the 91 Freeway in Corona and nine workers injured when part of the structure collapsed in 2015. A Riverside County Superior Court judge signed off on the deal on Wednesday, March 9, said Chris Aitken, the attorney for,” reports Brian Rokos in East Bay Times.

“Chaffee, 56, said he remembers what he was doing five minutes before the accident but not the collapse itself. Chaffee will receive a little more than $5 million, Aitken said. Chaffee said he can’t bend over or walk long distances without a cane. He also has difficulty controlling his emotions. I’d still love to be working, Chaffee said in.”

Read the article.

 




Trucking Giant Agrees to $6.8 Million Settlement in Case Alleging Fraud

“Yellow Corporation has agreed to a multi-million dollar settlement in a lawsuit filed by the U.S. Department of Justice (DOJ) alleging the trucking giant engaged in fraud. In an announcement last week, Yellow Corp. said it has reached a $6.8 million settlement to end a legal battle with the,” reports Transportation Nation in their blog.

“We are pleased to have come to a resolution, said Darren Hawkins, CEO of Yellow. Now we can continue to focus on the important work ahead. With our nation’s current supply chain constraints and the critical role Yellow plays in delivering freight, there’s no time for distraction Specifically, the United States lawsuit filed in 2018  alleged that.”

Read the article.

 




Wisconsin Man Receives $1.25M Settlement for Foot Injury at 2019 U.S. Bank Stadium Concert

“U.S. Bank Stadium officials have signed off on their share of a $1.25 million settlement with a Wisconsin man whose foot was injured outside a stadium gate at a Garth Brooks concert nearly three years ago. Tom and Diana Ugoretz of Marshfield, Wis., said a large steel hydraulic wedge-shaped barrier,” reports Rochelle Olson in Star Tribune.

“The couple sued the Minnesota Sports Facilities Authority (MSFA), which owns and oversees the stadium on behalf of the public, along with the stadium’s operator, builders and security personnel including a Minneapolis police officer. The suit says that the couple sought more than $50,000, standard for Minnesota a personal injury cases.”

Read the article.

 




New Jersey to Distribute $641 Million from National Opioid Settlement to Bolster Treatment Efforts

“New Jersey will receive $641 million from the $26 billion nationwide opioid settlement, Gov. Phil Murphy and Acting Attorney General Matthew Platkin said on Friday. The settlement was originally announced in July 2021, and covers three major pharmaceutical distributors of opioids McKesson,” reports Maggie Mancini in Philly Voice.

“State officials say that the money will be allocated for use to bolster harm reduction programs, treatment strategies, and drug prevention.The money will be split evenly 50% going to the state, and the other 50% going to individual municipalities across New Jersey. This is a historic moment in our fight to combat the opioid crisis in New Jersey.”

Read the article.

 




Merit Medical Investors Want Final Nod for $18.25 Million Deal

“Merit Medical Systems Inc. investors who say it misled them about its purchases of two medical device manufacturers asked a federal judge in California to sign off on their $18.25 million settlement. The cash deal recovers between 12% and 55% of maximum realistic damages if the,” reports Jennifer Bennett in Bloomberg Law.

“The disposable medical device maker’s investors said in a memo filed as part of their final settlement approval bid in the U.S. District Court for the Central District of California. In reaching a settlement, the investors considered the many costly milestones that remain in this litigation, the Wednesday memo said. Absent settlement now.”

Read the article.

 




$4.65M Settlement Agreement at Hand in Live Oak Bank, Ncino No-Hire Suit

“Nearly a year after a former Live Oak Bank employee alleged in a class action lawsuit that major local companies had conspired to avoid hiring each other’s employees, a settlement agreement is now on the table. It could distribute millions of dollars to nearly 2,000 fintech workers. Joseph McAlear, a 10,” reports Preston Lennon in Port City Daily.

“Resident of Wilmington, joined the financial technology department of Live Oak Bank in April 2017, according to a lawsuit he filed last year. McAlear quickly became a vice president at Apiture, a digital banking solutions firm half-owned by Live Oak. he lawsuit was presaged by McAlear’s introduction at a conference to an nCino recruiter.”

Read the article.

 




Yale Reaches $1.29m Settlement in Employee Wellness Program Lawsuit

“Yale University and some of its employees have agreed to settle a class-action lawsuit over its employee wellness program for $1.29 million, subject to court approval. Kwesell v. Yale University alleged that Yale’s Health Expectations Program violated federal statutes because it required employees,” reports Alan Goforth in Benefits Pro.

“We designed the Health Expectations Program with our union partners and the advice of health care and legal experts, said Stephanie Spangler, vice provost for health affairs and academic integrity. Nevertheless, we feel it is best to resolve what would have been expensive litigation and move forward. Our relationship with our employees.”

Read the article.

 




Tentative Settlement of More than $55M Reached in Surfside Condo Collapse Lawsuit

“The families of victims and survivors of the Champlain Towers South collapse in Surfside, Florida, that killed 98 people have agreed on a tentative settlement of more than $55 million with three defendants in a wrongful-death lawsuit, according to court documents filed Tuesday. Insurers representing the,” reports Randi Kaye in CNN.

“Engineering firm responsible for inspecting and certifying the building’s structural integrity, Morabito Consultants, and the firm representing the condo association, Becker & Poliakoff P.A., have agreed to settle for $16 million and $31 million, respectively, according to a joint motion to stay all claims against the defendants. Another defendant.”

Read the article.

 




Whirlpool Leaky Dishwasher $21M Class Action Lawsuit Settlement

“Whirlpool agreed to pay $21 million to resolve claims its dishwashers are prone to leaks. The settlement benefits individuals who purchased or otherwise acquired certain Whirlpool dishwashers built between 2010 and 2018. A full list of included models can be found on the settlement website. Whirlpool,” reports Top Class Actions in their blog.

“In 2020, Whirlpool consumers filed a class action lawsuit against the company alleging the dishwashers are prone to leaks. According to the plaintiffs, the dishwashers leak due to faulty seals within the appliances. The dishwashers were and are equipped with a pump motor diverter shaft seal oriented incorrectly, accelerating degradation.”

Read the article.

 




Sacklers to Pay $6 Billion to Settle Purdue Opioid Lawsuits

“The Sackler family owners of Purdue Pharma LP reached a deal with a group of attorneys general to pay up to $6 billion in cash to resolve widespread litigation alleging that they fueled the U.S. opioid epidemic, bringing the OxyContin maker closer to exiting bankruptcy. The attorneys general for,” reports Jonathan Stempel in Reuters.

“The District of Columbia, who had blocked a previous settlement that included a $4.3 billion cash payment, announced the deal after weeks of mediation with the Sacklers. The family agreed to pay at least $5.5 billion in cash, which will be used for abating a crisis that has led to nearly 500,000 U.S. opioid overdose deaths over two decades.”

Read the article.

 




Switch Inc. Sees Quarterly Losses Grow After $35 Million Monopoly Lawsuit Settlement

“Switch Inc. saw its quarterly losses jump by more than $17 million after settling a long-running $35 million lawsuit with a now-defunct rival data center firm. In 2017, Switch was sued by fellow Las Vegas data center company Cobalt Data Centers founded by former Switch CFO Mike Ballard in 2011 which accused,” reports Dan Swinhoe in DCD.

“In its most recent earnings results for Q4 2021, the company reported Q4 Revenue of $161.4 million, a Net Loss of $18.5 million, and Adjusted EBITDA of $85.8 million. The company’s net income losses grew from $900,000 in Q3, despite revenue increasing by more than $3 million. The company noted its results included a $35 million.”

Read the article.

 




Court Approves $22.5 Million Settlement in Precision Castparts Air Pollution Lawsuit

“Precision Castparts Corp. has agreed to pay $22.5 million to settle a class action lawsuit over air pollution coming from its metal parts manufacturing facility in Southeast Portland. Last week, a Multnomah County Circuit Court judge gave preliminary approval to the settlement, which stems from,” reports Cassandra Profita in OPB.

“The settlement includes $7.7 million the company already spent on air pollution controls to reduce the amount of nickel and other pollutants being released from Precision Castparts’ operations. The company has also spent more than $300,000 on air monitoring equipment to test for pollution in the surrounding neighborhood and will be.”

Read the article.

 




Plaintiffs Law Firms Seek $20 Mln in Legal Fees From ATM Antitrust Case

“Three plaintiffs’ law firms have asked a federal judge to award more than $20 million in legal fees as part of a $66 million antitrust settlement with banks accused of participating in a scheme to fix ATM charges. The class attorneys representing ATM operators and consumers said in a petition for fees on,” reports Mike Scarcella in Reuters.

“The proposed settlement, which needs to be approved by a judge, would resolve a legal battle that began after Mylan, in 2016, raised the price for a pack of two EpiPens to $608 from $100, the price since 2007, according to court documents. In the lawsuit, a group of plaintiffs made up of consumers, health insurance companies and other.”

Read the article.