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September 2016 Archives

Wells Fargo Faces First Securities Suit Connected to Recent Scandal

Wells Fargo & Co. ("Wells Fargo" or the "Company") came under fire for a scandal involving its employees creating accounts for customers without their knowledge to meet standards that were being set by the Company. As a response to the scandal, Wells Fargo has paid a settlement of $185 million in restitution to the customers affected by the fake accounts and unfair charges. It also fired 5,300 employees over the last few years in an attempt to end any unethical behavior.

Whistleblowing spotlight: not something Wells Fargo wants

As we note on a relevant page of our website at the results-driven national law firm of Shepherd, Finkelman, Miller & Shah, LLP, the seminal Dodd-Frank legislation has placed a strong spotlight on fraud in the securities industry in recent years.

Yahoo Battling off Class Action Lawsuits

On Friday, September 23, 2016, Yahoo Inc. ("Yahoo" or the "Company") was hit with three proposed class action lawsuits, two in California and one in Illinois, just one day after the Company announced it had been hacked in 2014. The Company revealed that over 500 million people had their personal information, including names, passwords, security questions and answers, dates of birth, email addresses, and telephone numbers stolen from Yahoo's online database. The Company believes that the hack was executed by a state-sponsored actor - in other words, an unidentified foreign government.

UnitedHealth Plan Participants Granted Class Certification

U.S. Magistrate Judge Joseph C. Spero recently certified a group of UnitedHealth Group Inc. ("UnitedHealth" or the "Company") health plan participants alleging that the Company is improperly denying mental health and substance abuse treatments, in violation of the Employee Retirement Income Security Act (ERISA). The lack of coverage was common among a large number of participants, which allowed for class certification.

Uber Drivers Appeal Lower Court's Decision Requiring Them to Arbitrate Wage Claims

A proposed class of drivers appealed the lower court's decision requiring them to arbitrate their wage claims on an individual basis against the ride-hailing company, Uber Technologies Inc. ("Uber" or the "Company"). Specifically, U.S. District Court Judge James S. Moody Jr. rejected all three arguments made by the drivers, that: (1) the arbitration clause was unconscionable; (2) the provision requiring drivers to split the cost of arbitration was unlawful; and (3) the forum selection provision was unlawful. Coming before the Eleventh Circuit Court of Appeals, the drivers have now argued that the Federal Arbitration Act ("FAA") bars the arbitration clause in the user agreements.