Tyco agreed to pay $2.975B to resolve a class action shareholder lawsuit arising out of ex-CEO Dennis Kozlowski’s alleged accounting fraud. This was the largest securities fraud settlement in history.
Visa, Mastercard, and Diner’s Club agreed to pay $336M to settle the credit card currency conversion consolidated cases alleging that the companies and member banks conspired to fix fees charged for currency conversion when cardholders made purchases overseas.
Williams Companies, Inc., agreed to pay $290M to settle claims brought by shareholders alleging that earnings were misstated and accounting statements were manipulated.
Rent-A-Center agreed to pay $109M to settle a New Jersey class action claiming that interest rates exceeded those permitted by state law.
AOL agreed to pay $105M to the California State Teachers’ Retirement System to settle a lawsuit claiming that it recorded internet advertising proceeds incorrectly and overstated its revenue.
James Crane is an attorney, consultant and author with extensive experience in e-discovery management. In his practice, James has defended corporate clients in a variety of complex matters including multi-jurisdictional class actions and internal corporate and government regulatory investigations.
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