Class Action Law360 provides breaking news and analysis on class actions and multidistrict litigation. Coverage includes developments in multiparty litigation in federal and state courts, as well as policy issues and court rulings that affect class action procedure.
McKinsey & Co. Inc. has struck a $40 million deal to settle a proposed ERISA class action alleging its employee retirement plans enriched a company subsidiary by tens of millions of dollars at workers' expense, according to documents filed in New York federal court.
A former news reporter for Bloomberg LP tore into the news organization Sunday for its allegedly sexist and racist culture, claiming in a proposed class action lodged in New York state court that she was denied advancement opportunities and exploited as a "diversity pawn" for its business and journalistic gain.
Though a New York federal judge on Monday trimmed claims from a proposed class action alleging that Arizona Beverage Co. falsely labels its gummy snacks as "all natural," she found that the company still has to face allegations that it violated numerous state consumer protection laws.
A federal judge in Houston ended investors' securities fraud allegations against Cadence Bancorp. and two of its executives, finding that the proposed class action didn't detail alleged lies or other intentional wrongdoing that would have constituted a violation of federal securities law.
MEI Pharma Inc. and its executives lied to investors about setbacks in the development of a cancer drug, violating federal securities laws and leading to artificially inflated stock prices, a shareholder alleged in a proposed class action brought Monday in California federal court.