Brazilian oil and gas company, Petrobras, has signed an agreement to settle a securities class action lawsuit filed in the US in which the lead plaintiff was UK pension fund, the Universities Superannuation Scheme (USS). Under the settlement, Petrobras agreed to pay US$ 2.95 billion to resolve claims in two installments of US$983 million and a last […]
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Investors in machinery, vehicle and engine manufacturer Caterpillar have called on its board to establish a special committee to investigate any risks related to tax schemes set up by the company which are now subject to investigations by US federal authorities. At the beginning of March Caterpillar admitted that US law enforcement authorities had entered three of […]
Read MoreAre some European issuers trying to avoid playing fair with their minority shareholders? With the news that USS and Hermes have now tendered their Océ shares after the Enterprise Chamber of the Amsterdam Court of Appeals rejected the pension funds’ request to investigate Canon’s tender offer, shareholders might be left wondering what they can do […]
Read MoreTwo US pension funds, the City of Westland Police & Fire Retirement System and the Massachusetts Bricklayers and Masons pension fund have filed a class action lawsuit against Alcon, Novartis and Nestlé, alleging that Novartis’ recent offer for Alcon discriminates against minority shareholders. The complaint against the three Swiss-based companies and several Alcon directors was […]
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