Lyft settles shareholder lawsuit over sexual assaults by drivers
Lyft plans to implement several safety and governance reforms to resolve a shareholder lawsuit that alleged its executives and directors did not do enough to stop drivers from sexually and physically assaulting passengers. The tentative settlement was filed Tuesday night in federal court in Oakland, California, and must be approved by a judge. Lyft agreed […]
CrowdStrike is WEF partner, Vanguard is biggest shareholder
CrowdStrike’s massive missteps, which caused global outages, have once again brought the company into the spotlight of Americans, who recall its work with the World Economic Forum, Vanguard and the Democratic Party. On July 19, 2024, CrowdStrike CEO George Kurtz said that “a flaw found in a single content update for Windows hosts” had caused […]
Tesla, shareholder clash over $7B legal fee request in Elon Musk pay case
Lawyers for Tesla and shareholders clashed in court on Monday over the value of a lawsuit challenging CEO Elon Musk’s huge compensation package and seeking the company to pay a record $7 billion in legal fees. The two experts testified for more than three hours in opposition to each other about the benefits to Tesla […]
Musk asks judge to dismiss shareholder lawsuit, argues delayed Twitter disclosure a 'mistake'
Elon Musk has asked a federal court in New York to dismiss a lawsuit brought by shareholders of the social media company Twitter (now known as X), arguing that a delay in disclosing his stake in the company was a “mistake.” The billionaire was sued by Twitter shareholders in April 2022 after he revealed he […]
SCOTUS to hear Facebook’s bid to toss shareholder suit over Cambridge Analytica scandal
The U.S. Supreme Court on Monday agreed to hear a motion by Meta-owned Facebook to dismiss a private securities fraud lawsuit accusing the company of misleading investors in 2017 and 2018 about the company and third parties’ misuse of user data. The Supreme Court was hearing Facebook’s appeal of a lower court decision that allowed […]
Elon Musk accused of $7.5 billion insider trading in lawsuit from Tesla shareholder
Barron’s deputy editor Al Root joins Barron’s Roundtable panelists to discuss what U.S. automakers need to do to compete against a flood of cheap electric vehicles from China. Tesla CEO Elon Musk was accused of insider trading in a lawsuit filed by Tesla shareholders in Delaware Chancery Court on Thursday. Shareholder Michael Perry alleges in […]
Meta, Mark Zuckerberg face shareholder pressure over efforts to protect kids online
Meta Chief Executive Mark Zuckerberg faces a possible rebellion at the company’s annual meeting on Wednesday as shareholders pressure the company to be more transparent about its efforts to protect children online. A group led by Lysette Cooper, vice chair of Franklin Templeton subsidiary Fiduciary Trust International and the parent of a child sexual abuse […]
Drugmakers in Medicare negotiations spent more on shareholder payments and marketing than R&D last year: Report
A new report from the center-left watchdog group Accountable US found that most major drug companies spend more on marketing and shareholder payments than on research and development (R&D). of Report investigating 8 companies — Johnson & Johnson, Amgen, AstraZeneca, Bristol-Myers Squibb, Eli Lilly, Merck, Novartis, and Novo Nordisk — are among the 10 drugs […]
Warren Buffett to attend 60th Berkshire Hathaway shareholder meeting
Business magnate Warren Buffett is slated to sit in on his 60th Berkshire Hathaway shareholder meeting Saturday in Omaha, Nebraska. Buffett, 93, will solicit questions during a five-hour meeting similar to the one he attended last year. While his successor, Vice Chairman Greg Abel, 61, will be there, this will be the first meeting without […]
A top Nvidia shareholder reveals his trigger for selling growth stocks – CNBC
Nvidia stock continues to soar this year, rising more than 80%. However, one of the company’s largest shareholders revealed the reason for selling his shares. Nvidia’s 15th largest shareholder, Jennison Associates, was an early investor in the chipmaker and currently owns a 0.57% stake in the company, worth $7 billion. This is down from a […]