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Category Archives: Securities

January 16

Miller Shah LLP Is Investigating Cummins Inc. (NYSE: CMI) on Behalf of Long-Term Shareholders

On January 10, 2024, Cummins Inc. (“Cummins” or “CMI”) (NYSE:CMI), the California-based engine manufacturer, agreed to pay a $1.675 billion penalty in a settlement with the Environmental Protection Agency (“EPA”) and Department of Justice (“DOJ”) regarding vehicle emissions control violations under the Clean Air Act. This is the largest civil penalty in the history of the Clean Air Act and the second largest environmental penalty ever. The EPA and DOJ alleged…

December 14

Securities

Miller Shah LLP is Investigating Tiger Global Private Investment Portfolio XV and XVI (PIP 15 and PIP 16) Over Reported Losses

On November 22, 2023, Tiger Global Management LLC (“Tiger Global”) announced that its Private Investment Chief Officer, Scott Schleifer, is stepping down from this role and transitioning to become an advisor for the firm. From 2021 to 2023, Schleifer headed Tiger Global’s private investment practice through Private Investment Portfolio XV and XVI (PIP 15 and PIP 16), which have reportedly incurred losses of 30% or more over the last two…

December 10

Securities

Miller Shah LLP Is Investigating the Kinetics Paradigm Fund (WWNPX) Over Its Concentrated Position in Texas Pacific Land Corp. (TPL)

For several years, the Kinetics Paradigm Fund, along with other funds managed by Horizon Kinetics, has been accumulating concentrated positions of Texas Pacific Land Corporation (“Texas Pacific Land”). The Kinetics Paradigm Fund offers Class A shares (KNPAX), Class C shares (KNPCX), Class Institutional shares KNPYX) and no load shares (WWNPX) Texas Pacific Land (NYSE: TPL) is the largest private landowner in Texas and generates revenues from land and water resource…

November 26

Securities

Freshworks Inc. Investors File Class Action Over IPO Documents

On November 1, 2022, Mohan Sundaram (“Plaintiff”) filed a class action complaint against software company Freshworks, Inc. (“Freshworks” or the “Company”) in the United States District Court for the Northern District of California. The proposed class consists of all persons and entities that purchased or otherwise acquired Freshworks common stock issued in connection with the Company’s Initial Public Offering (“IPO”). Freshworks is a software company headquartered in San Mateo, California,…

November 07

Securities

Walgreens Settles Class Action Lawsuit for $105 Million

On October 13, 2022, the Honorable Sharon Coleman of the United States District Court for the Northern District of Illinois approved a $105 million settlement ("Settlement") of a securities fraud class action against Walgreens and two former Walgreens executives (collectively, “Defendants”). Plaintiffs originally filed the lawsuit in 2015, alleging that Defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by making misleading statements regarding Walgreens’ acquisition…

February 22

Class Action, Securities

AMC Securities: Miller Shah Obtains $18 Million Settlement

On February 14, 2022, U.S. District Judge Alison J. Nathan granted final approval of a proposed $18 million Settlement (the “Settlement”) in a class action against AMC Entertainment Holdings, Inc. and certain executives and financial underwriters (“AMC,” the “Company,” or “Defendants”). The Settlement resolves allegations that AMC misled investors when touting the Company’s plans to acquire Carmike Cinemas, Inc. (“Carmike”), Odeon & UCI Cinema Group, and Nordic Cinema Group AB.…

November 19

Securities

AMC Securities Class Action Settlement Information

Miller Shah LLP is pleased to announce that AMC Entertainment Holdings, Inc. (“AMC” or the “Company”), along with certain executives and financial underwriters, have agreed to pay $18,000,000.00 to resolve claims under the federal securities laws in connection with AMC’s acquisition of several other theater operators and the Company’s secondary public offering (“SPO”) of stock in early-2017. The matter is entitled Hawaii Structural Ironworkers Pension Trust Fund v. AMC Entertainment…

November 02

Class Action, Securities

AMC Securities Lawsuit: Preliminary Settlement Papers Filed

Miller Shah LLP, on behalf of a class of individuals and entities that purchased or acquired the common stock of AMC Entertainment Holdings, Inc. (“AMC” or the “Company”) during the class period defined below (“Class”), has filed a motion for preliminary approval of a class action settlement in the matter of Hawaii Structural Ironworkers Pension Trust Fund v. AMC Entertainment Holdings, Inc. et al. The settlement will provide $18 million…

September 30

Class Action, Securities

Twitter to Settle Securities Lawsuit for $809.5 Million

Twitter, Inc. (“Twitter” or the “Company”) has agreed to pay $809.5 million to settle a class action securities lawsuit filed by investors in the United States District Court for the Northern District of California. The lawsuit was originally filed in September 2016 and sought remedies under Sections 10 and 20(a) of the Securities Exchange Act of 1934. The lawsuit alleged that from February 6 to July 28, 2015, Twitter and…

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