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International Business Machines Cop. workers who accused the company of failing to protect their retirement savings from a 7 percent drop in IBM stock price convinced a federal appeals court to revive their lawsuit. The decision is a rare win for 401(k) investors in a series of Employee Retirement Income Security Act cases that have …
Perhaps the biggest complaint by investors following the 2008 financial crisis was that not a single Wall Street executive was held accountable for their misdeeds. People were upset, angry and annoyed. After all, Wall Street banks nearly led to the collapse of the global financial system. Indeed, the fall of Lehman Brothers, Bear Stearns and …
Riot Blockchain has revealed that it is under investigation by the Securities and Exchange Commission. Jake Zamansky told CNBC that “[t]he fact that the SEC division of enforcement is involved suggests they are considering securities fraud action against the firm.” Click here to read the full article on CNBC
Please find below the Amended Stipulation and Agreement of Settlement and the Amended Notice of Pendency and Settlement of Shareholder Derivative Action in Phan, et al., v. Ivy Investment Management Company, et al., Case No. 16CV02338, pending in the District Court of Johnson County, Kansas. DOCUMENT LINKS: Amended Stipulation and Agreement of Settlement Amended …
Large public companies are beginning to rethink offering their own stock as an investment option in 401(k) plans available to their employees. Companies are instituting various measures to either reduce, or in some cases outright eliminate, employer stock holdings in retirement accounts. Zamansky LLC Partner Samuel Bonderoff told Bloomberg Law “I don’t know exactly what’s driving …
The StarTribune discusses the details of the ERISA class action lawsuit against photography company Lifetouch Inc. recently filed by Zamansky LLC on behalf of current and former Lifetouch employees who participated in the company’s stock ownership plan. StarTribune reporter Jackie Crosby reached out to Zamansky LLC Partner Sam Bonderoff for comment: “Here you had fiduciaries …
Bloomberg’s Jacklyn Wille discusses the recent ERISA class action lawsuit filed against photography company Lifetouch Inc. The suit, filed by Zamansky LLC on behalf of current and former Lifetouch employees, alleges that Lifetouch ESOP participants “suffered ‘hundreds of millions of dollars’ in damage by investing in the company’s employee stock ownership plan over the past …
CNBC recently launched an investigation into Riot Blockchain, which until October was called Bioptix. The company owned a veterinary patent and researched and developed new ways to test for diseases. The October name change, followed by spike in share price from $8 to more than $40, caught the eye of the SEC. Chairman Jay Clayton …
Bitcoin has reached the mania stage, starting 2017 trading at $1,000 before almost hitting $20,000 last month and then falling to $10,000 on Tuesday. The skyrocketing price of bitcoin and other cryptocurrencies has attracted scads of speculators looking to make a quick buck, setting off alarm bells for securities regulators. The Securities and Exchange Commission, …
Jake Zamansky appeared on CNBC’s Fast Money to discuss cryptocurrency investment fraud issues and impending crackdowns on companies that may be fraudulently associating themselves with the use of blockchain technology. Click here to see the full video on CNBC
Mr. Zamansky's securities law blog is closely read and monitored by regulators and influential financial reporters and has prompted several major news and feature stories.
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