Class action Financial News

By Jonathan Stempel

Meta Platforms must face a lawsuit claiming that it violated the medical privacy of patients who were treated by hospitals and other healthcare providers that used its Meta Pixel tracking tool. US District Judge William Orrick in San Francisco said the plaintiffs could pursue claims that Meta violated a federal wiretap law and a California privacy law, and violated its own contractual promises governing user privacy on Facebook.

OpenAI and Microsoft have been named as the defendants in yet another class action lawsuit over their alleged use of web scraping techniques to obtain supposedly private data for the use of training ChatGPT and other associated artificial intelligence models. 

A group of high-net-worth Russian and CIS investors have filed a class action lawsuit against Atomic Wallet, a prominent cryptocurrency platform, following a security breach in June that resulted in losses of approximately $100 million.

Legal proceedings against Uniswap, a leading decentralized exchange protocol, took a turn today when a class action lawsuit filed against it was dismissed. 

By Jonathan Stempel and Mike Scarcella

By Brendan Pierson

A class action complaint has been filed against Fenwick & West, LLP («Fenwick»), a prominent law firm, in the United States District Court, Northern District of California, San Francisco Division, on August 7, 2023. The complaint alleges Fenwick's involvement in the FTX disaster, described as «the largest financial fraud in US history.»

A federal judge on Wednesday declined to approve a proposed settlement in a class-action lawsuit prompted by a surge in Hyundai and Kia vehicle thefts, saying it fails to provide “fair and adequate” relief to vehicle owners

A federal judge on Wednesday declined to approve a proposed settlement in a class-action lawsuit prompted by a surge in Hyundai and Kia vehicle thefts, saying it fails to provide “fair and adequate” relief to vehicle owners

Zurich’s commercial court is set to witness another lawsuit against UBS’s contentious acquisition of Credit Suisse. This fresh challenge is spearheaded by the Swiss Investor Protection Association, representing approximately 500 Credit Suisse equity investors, and is expected to be lodged Monday.

By Jody Godoy

(Reuters) — Three Tesla (NASDAQ:TSLA) owners in California on Wednesday sued the automaker in a proposed class action that accuses the company of falsely advertising the estimated driving ranges of its electric vehicles.

Three Tesla (NASDAQ:TSLA) owners from California filed a proposed class action lawsuit against the automaker Wednesday. The legal complaint alleges that Tesla engaged in false advertising of the estimated driving ranges of its electric vehicles.

Taco Bell, claiming that the Mexican Pizza he purchased last September contained only half the advertised beef and bean filling. Frank Siragusa filed a class-action lawsuit in the Eastern District of New York seeking upwards of $5 million in damages for what he alleges to be «unfair and deceptive trade practices.» According to the lawsuit, Siragusa contends that had he been aware of the substantial difference in filling between the actual product and the images shown in Taco Bell's adverts, he would not have paid the $5.49 price for the Mexican Pizza. He further claims that other customers were also left disappointed with their orders, including the popular Crunchwraps. The court filing includes a side-by-side comparison of Taco Bell's website images and customers' photos of the received products. The contrast is stark, with the restaurant's images portraying vibrant and generously-filled tacos, while customers' photos depict lackluster and unappetizing items.

Multiple class-action lawsuits have already been launched in the United States following the massive data breaches and exploitation related to Fortra’s GoAnywhere MFT file transfer software in January.

Colonial First State will pay $100 million into thousands of superannuation accounts to settle aclass action alleging it illegally charged members high fees to help finance generous commissions for financial advisers.

AMP could be on the hook for north of $100 million in damages after itlost a class action over its controversial financial adviser payout proposal, with the market expecting the issue could lower capital returns for years.

The maker of ChatGPT, OpenAI, is facing a class action lawsuit alleging that the company’s AI training procedures infringed the privacy and copyright of virtually everyone who has ever uploaded information online. To train its cutting-edge AI language models, OpenAI gathered a sizable amount of data from diverse online sources. These datasets include a variety of content, including explicit content from specialised genres as well as Wikipedia articles, best-selling books, social media posts, and popular publications. More significantly, OpenAI collected all of this data without first getting consent from the content producers.

Algorithmic and high-frequency trading firm Jump Trading is seeking to have the class action lawsuit against the firm moved from Illinois to a Northern district court in California, arguing that it would significantly speed up legal proceedings.

Celebrity defendants Kim Kardashian and Floyd Mayweather are back on the hook for a class action lawsuit that alleges their improper promotion of the now-defunct crypto token EthereumMax (EMAX).