2015-2019 | Kehoe Law Firm

July 30, 2019

Marking a Major Achievement for the Firm’s Clients and Class Members, Kehoe Law Firm Obtains Class Certification in NantHealth Securities Class Action Litigation

In a significant turn of events, NantHealth investors received a major victory as United States District Judge Terry J. Hatter, in an order dated July 30, 2019, granted the motion for class certification. This ruling allows all NantHealth investors meeting the class definition to collectively pursue their claims against the company.

The class certification, sought by plaintiffs represented by the Kehoe Law Firm, establishes two distinct classes - the Securities Act Class, consisting of those who purchased or acquired NantHealth common stock in or traceable to the Initial Public Offering (IPO), and the Exchange Act Class, comprising individuals or entities who purchased any NantHealth common stock between June 1, 2016, and May 1, 2017.

John A. Kehoe, Partner with the Kehoe Law Firm, and court-appointed co-lead counsel for the investors, expressed the significance of this development: "The grant of class certification is a crucial step towards achieving justice for NantHealth investors who suffered financial losses. This ruling enables them to join forces and pursue their claims collectively, streamlining the legal process and ensuring that their voices are heard."

In response to the class certification, NantHealth has filed a petition with the Ninth Circuit Court of Appeals to review the opinion. Plaintiffs, represented by the Kehoe Law Firm, have vehemently opposed this petition, defending the hard-won class certification as a fair and just representation of the collective interests of affected investors.

John Kehoe emphasized the commitment to representing the investors: "We will continue to vigorously oppose any challenges to the class certification. Our clients deserve the opportunity to seek redress collectively, and we will fight to ensure that their rights are protected throughout this legal process." This recent development sets the stage for potential further legal proceedings and reinforces the Kehoe Law Firm's dedication to pursuing justice on behalf of NantHealth investors.

For more information about Kehoe Law Firm and its involvement in this matter, please contact John A. Kehoe at jkehoe@kehoelawfirm.com or call (215) 792-6676.

July 29, 2019

Court Preliminarily Approves $9,950,000 FX Settlement

Kehoe Law Firm Announces that the Court Preliminarily Approved a $9,950,000 Partial Settlement with Citigroup in the FX Indirect Purchaser Litigation

Kehoe Law Firm, on behalf of its client, FX Primus Ltd., announced today that the District Court for the Southern District of New York gave preliminary approval to a partial settlement with Citigroup Inc., Citibank, N.A., Citicorp, and Citigroup Global Markets Inc. (collectively, “Citigroup”), partially settling claims in Contant, et al. v. Bank of America Corp., et al., No. 1:17-cv-03139 (LGS) (S.D.N.Y.) and consolidated actions.

Pursuant to terms of the settlement, Citigroup agreed to pay $9,950,000 and provide “reasonable cooperation” in the continued prosecution of the Action against the non-settling defendant banks, as set forth in the Settlement Agreement.

The lawsuit alleges that prominent financial institutions, including Citigroup, Standard Chartered, Société Générale, Bank of America, Barclays, BNP Paribas, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan, Morgan Stanley, RBC, RBS, and UBS (the “Defendants”), conspired to fix foreign currency (“FX”) instrument prices.

According to Mr. Kehoe, “as we continue to prosecute the action against other defendants, the cooperation secured from Citigroup stands as a formidable tool, empowering us to pursue justice and fair compensation for those who may have been affected by the manipulation of foreign currency instrument prices.”

The court scheduled a final fairness hearing on a future date to be determined by the court. For more information about the case and settlements, please visit the Claims Administrator’s website at: https://www.fxindirectantitrustsettlement.com/

For more information about Kehoe Law Firm and its involvement in this matter, please contact John A. Kehoe at jkehoe@kehoelawfirm.com or call (215) 792-6676.

May 17, 2019

In a Major Litigation Milestone, FX Indirect Purchaser Complaint Survives a Personal Jurisdiction Challenge – Kehoe Law Firm Represents Lead Plaintiff FX Primus Ltd.

In a significant development, the United States District Court for the Southern District of New York has denied motions to dismiss for lack of personal jurisdiction filed by several defendant banks in the antitrust class action lawsuit. The case involves allegations of a conspiracy among some of the world's largest banks to manipulate prices in the foreign exchange ("FX") market.

Kehoe Law Firm represents FX Primus Ltd., which asserts that it purchased FX instruments from retail FX dealers at artificially inflated prices due to the alleged manipulation of the FX market by the defendants. The complaint, which alleges violations of state antitrust and consumer protection laws, implicates major financial institutions, including Barclays, BNP Paribas, HSBC, MUFG, RBS, Société Générale, Standard Chartered, UBS AG, and UBS Group AG.

The court's decision, outlined in a comprehensive opinion and order, determined that specific jurisdiction could be established for Barclays, BNP Paribas, HSBC, Standard Chartered, and UBS AG, as they were found to have sufficient minimum contacts with the forum state. The same could not be established for MUFG, RBS, and Société Générale.

The ruling was based on the court's evaluation of the minimum contacts and reasonableness criteria for establishing personal jurisdiction over the foreign defendants. The court found that none of the factors considered for reasonableness weighed against the exercise of jurisdiction over the defendants who failed to secure dismissal. Factors such as the burden on the defendants, the interests of the forum state, the plaintiff's interest in obtaining relief, the judicial system's interest in efficiency, and shared state interests did not render the exercise of jurisdiction unreasonable.

The court's decision marks a pivotal development in the ongoing litigation, with some foreign defendants successfully securing dismissal on jurisdictional grounds with the remaining defendants having to continue to face legal proceedings in the Southern District of New York. The case underscores the complexity of jurisdictional challenges in multinational financial litigation, with potential implications for similar lawsuits in the future.

Kehoe Law Firm partner, John A. Kehoe, expressed satisfaction with the Court's decision, emphasizing the importance of keeping some of the claims intact. "The ruling acknowledges the validity of certain claims against major banks involved in the alleged FX market manipulation conspiracy. We are pleased that the Court recognizes the merit of our clients' case, allowing the litigation to proceed against those responsible for potential wrongdoing," said Kehoe.

For more information about Kehoe Law Firm and its involvement in this matter, please contact John A. Kehoe at jkehoe@kehoelawfirm.com or call (215) 792-6676.

April 24, 2019

$8,300,000 Superfish Adware Settlement; Kehoe Law Firm Represents Sterling International Consulting Group in Lenovo Litigation

Kehoe Law Firm is pleased to announce a landmark settlement has been reached in the Lenovo Laptop Adware Class Action Litigation, captioned, In re: Lenovo Adware Litigation, 4:15-CV-02624 (HSG) (N.D. Ca.). The $8,300,000 settlement, obtained at an advanced stage of the litigation, marks a significant milestone in the pursuit of justice for consumers who purchased Lenovo laptops pre-installed with adware, alleged to have created security risks and affected the laptops' performance.

Kehoe Law Firm filed this consumer class action on behalf of Sterling International Consulting Group back on February 23, 2015, suing Lenovo Inc. and Superfish, Inc. for alleged violations of federal, California, and New York law. The lawsuit centered around Superfish's “VisualDiscovery” software, preinstalled on Lenovo laptops, which allegedly caused performance, privacy, and security issues.

The complaint asserted various claims against Superfish and Lenovo, including violations of the Computer Fraud and Abuse Act, California's Unfair Competition Law, Consumer Legal Remedies Act, Computer Crime Law, Invasion of Privacy Act, trespass to chattels under California law, New York's Deceptive Acts and Practices Statute, and trespass to chattels under New York law. Additionally, a Wiretap Act violation is alleged against Superfish.

The complaint further alleged that the preinstalled software, designed by Superfish Inc., performed a 'man-in-the-middle attack,' compromising users' secure HTTPS pages to inject advertising without their knowledge. These security vulnerabilities were later deemed by Homeland Security to be susceptible to cyberattacks, yet Lenovo allegedly continued to ship affected computers even after consumer complaints surfaced.

"While this legal journey presented formidable challenges, the $8,300,000 settlement achieved is truly remarkable and reflects a significant win for the affected consumers," stated John Kehoe, Partner at Kehoe Law Firm. "We are delighted to have represented Sterling International Consulting Group in this groundbreaking class action against Lenovo and Superfish. This resolution not only provides substantial monetary relief but also acknowledges the dedication of our legal team in navigating complex legal and factual issues. Sterling International Consulting Group is very pleased with the outcome, and we, at Kehoe Law Firm, consider it a testament to our commitment to consumer protection and corporate accountability."

For more information about the settlement, see the Claims Administrator’s dedicated website available here: https://www.lenovoadwaresettlement.com/

For more information about Kehoe Law Firm and its involvement in this matter, please contact John A. Kehoe at jkehoe@kehoelawfirm.com or call (215) 792-6676.

March 12, 2019

Kehoe Law Firm and the Buffalo Grove Police Pension Fund Secure Significant Corporate Reforms in Navient, Inc. Derivative Litigation

The Kehoe Law Firm, P.C. is pleased to announce that it has successfully reached a settlement on behalf of its client, the Buffalo Grove Police Pension Fund, in the stockholder derivative action against Navient, Inc. ("Navient" or the "Company"). The settlement includes comprehensive governance reforms designed to prevent and protect against the recurrence of alleged wrongdoings, such as:

Loan Servicing and Collections Compliance Committee: Navient shall maintain a Loan Servicing and Collections Compliance Committee who oversee loan servicing and loan-related collections efforts and internal controls and report to the Board’s Audit Committee.
Two New Independent Directors and Improved Board Training: Navient will add two new independent directors to the Board. All new directors will receive training on consumer protection and state collection laws, including annual training on these topics.
New Limits on Board Service: The Chair of the Audit Committee shall not serve on the audit committee of more than one other public company’s board of directors. No director may serve as chairperson of one company’s committee or member of more than three committees.
Greater Authority for Independent Directors: Independent directors will meet in executive session at least four times annually. Independent directors have the authority to request reports from any of the Company’s business units.
Greater Disclosure of Risk Oversight Responsibilities: New disclosures regarding the Board’s risk oversight responsibilities. Revision of Board Charters to clearly describe each committee’s risk oversight responsibilities.
Code of Business Conduct and Whistleblower Policy: Amendment to the Code of Business Conduct to direct executives and employees to report any loan servicing and collections violations immediately.

These governance reforms aim to enhance oversight, transparency, and accountability within Navient, providing a substantial benefit to the Company and its stockholders.

John Kehoe, Partner at Kehoe Law Firm, P.C., commented on the settlement: "We are pleased with this settlement, which reflects a significant step towards improving corporate governance at Navient. The implemented reforms address key concerns and will contribute to a more transparent and accountable framework, ultimately benefiting the Company and its shareholders."

For more information about Kehoe Law Firm and its involvement in this matter, please contact John A. Kehoe at jkehoe@kehoelawfirm.com or call (215) 792-6676.

February 21, 2019

Court Grants Final Approval to UDF IV Settlement, Calls it Fair, Reasonable and Adequate

In a significant development for stakeholders involved in the UDF Securities case, the court issued an order on February 21, 2019, approving the settlement and determining the award of attorneys’ fees and reimbursement of litigation expenses. The decision followed the Settlement Hearing held on February 15, 2019. Key Points of the Court order include:

The court ensured due process by providing notice of the Settlement Hearing to all identifiable Settlement Class Members through approved means, including mailed notices and publications in Investor’s Business Daily and PR Newswire.

The court approved the $10,435,725 fixed cash payment to the settlement fund and an additional contingent cash payment of $3,000,000. The contingent cash payment is dependent on certain conditions, as outlined in the settlement terms. The court also found the requested attorneys’ fees and litigation expenses to be fair and reasonable, considering the complexity of the case, the efforts invested by Lead Counsel, and the potential benefits to Settlement Class Members.

Lead Plaintiffs Louis J. D’Annibale, Paul Brown, and Plaintiff Mark Hay were awarded $2,500, $500, and $2,500, respectively, from the Settlement Fund as reimbursement for their incurred costs and expenses related to representing the Settlement Classes.

This court order marks a pivotal moment in the UDF Securities case, providing clarity on attorneys’ fees, expenses, and plaintiff compensation. According to Partner Michael Yarnoff, "We are pleased with the settlement and the finality it brings to the UDF Securities case. This outcome underscores our commitment to achieving positive results for our clients."

For more information about Kehoe Law Firm and its involvement in this matter, please contact Michael Yarnoff at myarnoff@kehoelawfirm.com or call (215) 792-6676.

January 4, 2019

Kehoe Law Firm and Buffalo Grove Police Pension Fund File Derivative Complaint on Behalf of Navient Inc., Against Various Officers and Directors

The Kehoe Law Firm, P.C. announces that it has filed a Verified Stockholder Derivative Complaint on behalf of the Buffalo Grove Police Pension Fund ("Plaintiff") against Navient, Inc. ("Navient" or the "Company") and certain current and former members of Navient’s Board of Directors, as well as certain executives. The Complaint alleges breaches of fiduciary duties in connection with Navient’s student loan servicing and collection practices.

The Complaint, filed in the U.S. District Court for the Eastern District of Pennsylvania, alleges that Navient knowingly manipulated its student loan servicing practices, violating federal and state laws, and causing borrowers to incur millions in additional costs. The allegations include steering borrowers into inappropriate forbearance programs, failing to provide adequate notice for paperwork submission, misinforming borrowers about loan rehabilitation programs, committing payment processing errors, and misreporting military accounts.

Navient's practices, as outlined in the Complaint, resulted in regulatory and private actions, including lawsuits by the Consumer Financial Protection Bureau and various state attorneys general, and consequently the Company's reputation and stock value allegedly suffered.

The Individual Defendants, members of Navient's Board, are accused of failing to diligently serve the Company, while turning a blind eye to illegal practices. The Complaint further asserts that certain Individual Defendants capitalized on Navient’s artificially inflated stock price, making substantial stock sales before the misconduct was revealed.

The Kehoe Law Firm represents the Plaintiff in this action and seeks to hold the defendants accountable for their alleged breaches of fiduciary duties and their role in the significant harm caused to Navient and its shareholders. The case is captioned Buffalo Grove Police Pension Fund V. Diefenderfer et. al., 2:19-CV-00062 (E.D. Pa.).

For more information about Kehoe Law Firm and its involvement in this matter, please contact John A. Kehoe at jkehoe@kehoelawfirm.com or call (215) 792-6676.

September 20, 2018

Court-Appointed Co-Lead Counsel Kehoe Law Firm and Lead Plaintiff Southeastern Pennsylvania Transportation Authority Pension Plan Move for Class Certification in the NantHealth Securities Class Action Litigation

In the ongoing legal battle against NantHealth, Inc. and its executives, plaintiffs, including the Southeastern Pennsylvania Transportation Authority, have taken a

significant step by filing a motion on September 20, 2018, seeking class certification for two distinct groups of investors. The motion aims to certify the following classes:

Securities Act Class: This class comprises all individuals or entities who purchased or acquired NantHealth, Inc. common stock in or traceable to the Initial Public Offering (IPO). The Securities Act Class is representative of investors affected by alleged misrepresentations and omissions made by NantHealth and its executives in connection with the IPO.

Exchange Act Class: Encompassing all individuals or entities who purchased any NantHealth, Inc. common stock between June 1, 2016, and May 1, 2017, the Exchange Act Class represents investors affected by the alleged securities law violations during this specific time.

John A. Kehoe, Partner with the Kehoe Law Firm, and court-appointed co-lead counsel for the investors, emphasized the significance of seeking class certification: "Certifying these classes is a crucial step in our pursuit of justice for investors who suffered financial losses due to the alleged misconduct by NantHealth and its executives. We believe that our clients, who share similar circumstances, should be allowed to proceed collectively, streamlining the legal process and ensuring fair representation."

The class certification motion is a pivotal development in the ongoing litigation, as it seeks to bring together affected investors under unified legal representation. If granted, class certification would enable a more efficient and coordinated litigation process for the Securities Act and Exchange Act Classes.

The Kehoe Law Firm remains committed to diligently representing the interests of investors and will continue to pursue legal avenues to hold NantHealth and its executives accountable for the alleged securities law violations.

For more information about Kehoe Law Firm and its involvement in this matter, please contact John A. Kehoe at jkehoe@kehoelawfirm.com or call (215) 792-6676.

August 23, 2018

Kehoe Law Firm Announces Settlement in UDF IV Securities Class Action Litigation

Kehoe Law Firm, P.C. today announced a significant development in the securities class action against United Development Funding IV, United Development Funding V, and other related entities. Plaintiffs Mark Hay and Paul Brown, along with Defendant Whitley Penn LLP, have reached a settlement in principle in the matter of Hay v. United Development Funding IV, et al., Case No.: 4:16-cv-00188-M.

This total settlement sum reflects the resolution of more than two years of rigorous litigation and thorough investigation. It comprises the fixed cash amount of $10,435,725 and an additional contingent cash payment of $3,000,000. The contingent cash payment is dependent on certain conditions, as outlined in the settlement terms.

Kehoe Law Firm partner Michael Yarnoff expressed his optimism about the settlement, stating, "We are pleased to announce this significant step toward resolution in the UDF Securities Litigation. The settlement in principle, including both fixed and contingent amounts, reflects the hard work and dedication of all parties involved. We look forward to moving this settlement through the judicial process and hope to obtain court approval soon."

As part of the settlement process, the Parties have also agreed to delay submission of class settlement documentation while active discussions with other defendants continue. They remain committed to consummating the settlement in principle and are prepared to promptly notify the Court if any obstacles arise.

For more information about Kehoe Law Firm and its involvement in this matter, please contact Michael Yarnoff at myarnoff@kehoelawfirm.com or call (215) 792-6676.

August 8, 2018

FX Indirect Purchaser Case: $9,950,000 Partial Settlement

Kehoe Law Firm Announces Partial Settlement with Citigroup in the FX Indirect Purchaser Litigation –$9,950,000 and “Reasonable Cooperation.”

Kehoe Law Firm, on behalf of its client, FX Primus Ltd., announced today that a partial settlement has been reached in the FX Indirect Purchaser litigation with defendant Citigroup Inc., Citibank, N.A., Citicorp, and Citigroup Global Markets Inc. (collectively, “Citigroup”), partially settling claims in Contant, et al. v. Bank of America Corp., et al., No. 1:17-cv-03139 (LGS) (S.D.N.Y.) and consolidated actions.

"In the pursuit of justice, we are pleased to announce a significant step forward in the litigation through a partial settlement with Citigroup Inc., on behalf of our client, FX Primus Ltd,” according to Kehoe Law Firm Partner, John A. Kehoe.

Pursuant to the terms of the settlement, Citigroup agreed to pay an amount of $9,950,000 and to provide “reasonable cooperation” in the continued prosecution of the Action against the non-settling defendant banks, as set forth in the Settlement Agreement.

This alleged collusion resulted in overcharging individuals and entities when purchasing FX Instruments directly from a Defendant or one of their alleged co-conspirators

from December 1, 2007, through July 17, 2020, and the purchaser lived in NY, AZ, CA, FL, IL, MA, MN, or NC at the time of the transaction.

For more information about Kehoe Law Firm and its involvement in this matter, please contact John A. Kehoe at jkehoe@kehoelawfirm.com or call (215) 792-6676.

July 18, 2018

Kehoe Law Firm Represents the Southeastern Pennsylvania Transportation Authority Pension Plan in a Class Action Price Fixing Antitrust Lawsuit Involving Mexican Government Bonds

Today, on behalf of our client the Southeastern Pennsylvania Transportation Authority Pension Plan, the Kehoe Law Firm announces the filing of a Consolidated Class Action Complaint alleging a conspiracy to fix the prices for Mexican Government Bonds issued by the Mexican government through the Bank of Mexico (“Banxico”).

Defendants include Merrill Lynch, Pierce, Fenner & Smith Incorporated, Bank of America Corporation, JPMorgan Chase Bank, J.P. Morgan Securities LLC, J.P. Morgan Securities plc, Banco Bilbao Vizcaya Argentaria, S.A., BBVA Securities, Inc., BBVA-Bancomer, Banco Santander, S.A., Santander Investment Bolsa, Sociedad de Valores, S.A., HSBC Bank PLC, HSBC Securities (USA) Inc., Citigroup Global Markets Inc., Citigroup Global Markets Limited, Citibank, N.A., Barclays Bank PLC, Banco Barclays S.A., Barclays Capital Securities Limited, Barclays Capital Inc., Deutsche Bank AG, and ING Financial Markets LLC.

The complaint alleges that the defendant banks used their dominant position as the exclusive government-approved market makers in the Mexican Government Bond market to unlawfully increase the profitability of their MGB trading and sales businesses. In April 2017, Mexico’s antitrust regulator, the Comisión Federal de Competencia Económica (“COFECE”), announced that it had uncovered evidence of anticompetitive conduct among defendants in the Mexican Government Bond market.

Information leaked from COFECE’s investigation in May 2017, revealed that it had accepted at least one defendant into its cartel leniency program after that defendant admitted to participating in a conspiracy to fix Mexican Government Bond prices and agreed to provide evidence against its co-conspirators in exchange for a reduced penalty.

Mexico’s securities regulator, the Comisión Nacional Bancaria y de Valores (“CNBV”), independently confirmed COFECE’s findings. CNBV announced in August 2017 that it was proceeding with its investigation of misconduct in the Mexican Government Bond market based on additional evidence it uncovered of collusion among the defendants.

For more information about Kehoe Law Firm and its involvement in this matter, please contact John A. Kehoe at jkehoe@kehoelawfirm.com or call (215) 792-6676.

March 27, 2018

Key Decision in NantHealth Case: U.S. District Court Rules in Favor of Investors; Denies NantHealth’s Motion to Dismiss

In a significant development, the United States District Court for the Central District of California issued a ruling on the motion to dismiss in the securities class action lawsuit against NantHealth, Inc. and its executives. The court found in favor of the investors, allowing most of the claims to proceed.

The lawsuit, filed on June 26, 2017, alleged that NantHealth, a company specializing in healthcare data management and diagnostic services, and its executives made material misrepresentations and omissions in connection with its Initial Public Offering (IPO) and subsequent communications to investors.

John A. Kehoe, Partner with the Kehoe Law Firm, and court-appointed co-lead counsel for the investors, expressed satisfaction with the court's decision: "We are very pleased with the court's ruling. This decision allows us to move forward with the action on behalf of investors who suffered losses due to the alleged misconduct by NantHealth and its executives."

The lawsuit centers around NantHealth's relationship with the University of Utah, wherein the company was chosen to conduct research for the University's genome project. The plaintiffs claimed that NantHealth and its executives made misleading statements and failed to disclose material information related to this partnership.

Key allegations include the assertion that NantHealth's CEO, Patrick Soon-Shiong, through his non-profit entities, donated $12 million to the University with specific conditions, ultimately leading to NantHealth being the sole qualified third-party research organization. The lawsuit further alleges misrepresentations in NantHealth's IPO offering materials and communications regarding orders for GPS Cancer tests.

The court's ruling acknowledged the plaintiffs' claims under Section 10(b) and Rule 10b-5 of the Exchange Act, allowing the case to proceed against NantHealth and Soon-Shiong. “The court's findings validate the allegations of material misrepresentations and omissions made by NantHealth and its executives,” according to Mr. Kehoe, who added “we look forward to prosecuting the action and seeking justice for those who suffered financial losses due to the alleged securities law violations.”

For more information about Kehoe Law Firm and its involvement in this matter, please contact John A. Kehoe at jkehoe@kehoelawfirm.com or call (215) 792-6676.

June 30, 2017

FX Primus Ltd. Files FX Complaint

Kehoe Law Firm Client FX Primus Ltd. Files Class Action Against Various Financial Institutions Alleging Price Fixing in Foreign Currency Instruments

Kehoe Law Firm client FX Primus Ltd. has filed a class action lawsuit in the United States District Court for the Southern District of New York against several financial institutions. The case alleges that the defendants engaged in a conspiracy to fix prices in the foreign exchange (FX) market, violating various state laws.

The plaintiffs assert that the defendants participated in a coordinated effort to fix prices of foreign currency instruments, including FX spot transactions, forwards, swaps, futures, options, and other FX-related transactions. The alleged violations spanned across multiple state laws, including the Arizona Antitrust Act, California Cartwright Act, California's Unfair Competition Law, Florida Deceptive and Unfair Trade Practices Act, Illinois Antitrust Act, Massachusetts Consumer Protection Law, Minnesota Antitrust Law, New York Donnelly Act, and North Carolina Unfair Trade Practice Act.

John A. Kehoe, Partner at Kehoe Law Firm, expressed support for the allegations, stating, "Plaintiffs have presented compelling allegations of a widespread conspiracy to manipulate FX markets, causing financial harm to investors. Our firm is committed to seeking justice for those who have suffered as a result of these alleged actions."

According to the plaintiffs, the conspiracy began around December 1, 2007, and involved various tactics, such as fixing FX bid-ask spreads and benchmark FX rates, including the WM/Reuters Fixes and the ECB Fixes. The defendants are accused of using electronic communication, including chat rooms, to coordinate trades, share confidential information, and monitor transactions to ensure compliance with the alleged conspiracy. The complaint also alleges the use of code names, code words, and deliberate misspellings to evade detection.

For more information about Kehoe Law Firm and its involvement in this matter, please contact John A. Kehoe at jkehoe@kehoelawfirm.com or call (215) 792-6676.

May 31, 2017

Kehoe Law Firm Appointed Co-Lead Counsel and Southeastern Pennsylvania Transportation Authority Pension Plan Appointed Co-Lead Plaintiff in NantHealth Securities Class Action

On May 31, 2017, Judge Beverly Reid O’Connell of the United States District Court, Central District of California, appointed Kehoe Law Firm as co-lead counsel, along with the Gibbs Law Group, in the Nanthealth Securities Litigation pending in the United States District Court for the Central District of California. Judge O’Connell cited the firm’s “significant securities class action litigation experience” and history of achieving “highly favorable settlements for plaintiffs in previous actions.”

NantHealth had completed its initial public offering of common stock on June 7, 2016, and sold 6,500,000 shares at $14.00 per share. Plaintiffs, which include the Southeastern Pennsylvania Transportation Authority Pension Plan, allege that NantHealth’s founder, Patrick Soon-Shiong, violated federal securities law and artificially inflated NantHealth’s stock price by structuring a purportedly philanthropic donation to the University of Utah such that the University was obligated to pay NantHealth $10 million for research services. Additionally, plaintiffs alleged that NantHealth exaggerated the success of one of its key products, called GPS Cancer.

STAT published an article on March 6, 2017, alleging that pursuant to the terms of Soon-Shiong’ s donation, the University of Utah was effectively required to spend $10 million on genetics analysis performed by NantHealth, an arrangement which STAT suggested enabled NantHealth to inflate by more than 50 percent the number of test orders it reported to investors in 2016.

On this news, the company’s stock price fell $1.67, or 23.29%, to close at $5.50 on March 6, 2017, and closed at $4.55 on March 9, 2017. Plaintiffs allege that the stock price continued to drop as more information came out about both the donation and the viability of GPS Cancer.

John A. Kehoe, partner at Kehoe Law Firm, said the firm is honored to be appointed lead counsel and that this recognition reflects our firm's experience and successful record in securities class action litigation. Mr. Kehoe added, “We are committed to uncovering the truth and pursuing justice for plaintiffs, such as the Southeastern Pennsylvania Transportation Authority Pension Plan. This appointment is not just a nod to our past success but a catalyst for us to diligently advocate for fairness and integrity in this legal pursuit."

For more information about Kehoe Law Firm and its involvement in this matter, please contact John A. Kehoe at jkehoe@kehoelawfirm.com or call (215) 792-6676.

April 17, 2017

Kehoe Law Firm Notifies Court of Settlement Progress in UDF IV -- Files Joint Notice of Settlement in Principle

Kehoe Law Firm, a leading securities litigation firm, acknowledges the recent development in the ongoing United Development Funding IV securities class action lawsuit. The firm is pleased to announce that a settlement in principle has been reached, as indicated by the Joint Notice of Settlement filed by the Parties in the U.S. District Court for the Northern District of Texas.

The Joint Notice of Settlement outlines that the Parties have jointly stipulated to extend the time for Plaintiffs to respond to the Motion to Dismiss until two weeks after the Parties jointly notify the Court that the settlement in principle cannot be consummated. This strategic extension allows the Parties the necessary time to finalize the settlement details.

The case, originally filed on March 8, 2016, alleges violations of the Texas Securities Act. The Parties have been engaged in active settlement discussions, and the recent agreement indicates significant progress toward resolving the matter. As part of the settlement process, the Parties are working on a Memorandum of Understanding (MOU) to document the essential terms of the agreement.

Michael Yarnoff, a partner at Kehoe Law Firm, expressed optimism about the potential resolution, stating: "We are encouraged by the progress made in reaching a settlement in principle in the UDF IV investor case. Our commitment remains steadfast in advocating for the rights of investors who have been affected. We look forward to working through the judicial process and ultimately obtaining court approval for this settlement, which we believe is in the best interests of the investors involved."

Kehoe Law Firm remains committed to ensuring a fair and just resolution for the investors involved in the UDF IV case. The firm will continue to provide updates as the settlement progresses through the judicial process.

For more information about Kehoe Law Firm and its involvement in this matter, please contact Michael Yarnoff at myarnoff@kehoelawfirm.com or call (215) 792-6676.

June 8, 2016

Kehoe Law Firm Files Federal Securities Class Action Against United Development Funding IV Amid Allegations of a Ponzi Scheme

Kehoe Law Firm, a leading securities litigation firm, has filed a securities class action suit against United Development Funding IV (UDF IV), a real estate investment trust (REIT). The lawsuit, filed in the U.S. District Court for the Northern District of Texas, represents investors who purchased shares in the company during the class period between June 4, 2014, and Dec. 10, 2015.

UDF IV, a REIT under the United Development Funding umbrella, has been accused of operating a "Ponzi scheme" in the lawsuit.

The allegations gained momentum after a report titled "A Texas Sized Scheme" was released by Harvest Exchange, detailing alleged similarities between Ponzi schemes and certain organizations under the United Development umbrella. The report highlighted that funds raised by UDF IV were allegedly used to provide liquidity to previous iterations of United Development, leading to a significant decline in UDF IV's stock prices.

The subsequent class action lawsuit alleges that UDF IV violated federal securities laws by failing to disclose that current iterations of UDF companies were providing liquidity to previous vintages, enabling the older companies to pay off early investors. The complaint also asserts that the defendants failed to disclose that, without funding from previous United Development operations, these companies would likely collapse, leaving investors with worthless stocks.

Furthermore, the lawsuit alleges that UDF IV offered liquidity to UDF I, UDF III, and other affiliates, exacerbating the perceived "scheme." The defendants are accused of not informing investors about the similarities between United Development's operations and a Ponzi scheme and that UDF IV was the subject of a Securities and Exchange Commission (SEC) investigation.

Michael Yarnoff, a partner at Kehoe Law Firm, expressed the firm's commitment and satisfaction in representing UDF IV investors, stating:

"We are pleased to stand alongside and represent investors who have been affected by the alleged misconduct involving United Development Funding IV. Our firm is dedicated to seeking justice for those who have suffered financial losses and holding accountable those responsible for potential securities law violations. Investors deserve transparency and fair treatment, and we are committed to pursuing their rights vigorously."

For more information about Kehoe Law Firm and its involvement in this matter, please contact Michael Yarnoff at myarnoff@kehoelawfirm.com or call (215) 792-6676.

February 23, 2015

Lenovo Complaint Filed in U.S. District Court

Kehoe Law Firm Proudly Represents Sterling International Consulting Group in Legal Action Against Lenovo Inc. and Superfish Inc.

The Kehoe Law Firm, a prominent Philadelphia-based law firm, is pleased to announce that it is representing Sterling International Consulting Group ("Plaintiff") in a class action complaint filed today against Lenovo Inc., Lenovo Group Limited, and Superfish Inc.

Lenovo, a $39 billion global Fortune 500 company, is accused of preinstalling Superfish Visual Discovery, a spyware program developed by Superfish Inc., on at least forty-three different Windows-based Lenovo notebook computer models sold to consumers. The software allegedly performed a "man-in-the-middle attack," compromising users' secure HTTPS pages to inject advertising without their knowledge.

The complaint alleges that Lenovo failed to disclose the preinstallation of the Superfish program, which Homeland Security later deemed vulnerable to cyberattacks. Lenovo continued shipping affected computers even after consumer complaints surfaced. The lawsuit asserts that the program intentionally created security holes, allowing potential spying and unauthorized access to sensitive information. Kehoe Law Firm is known for its dedication to consumer protection and corporate accountability. With a history of successful litigation in high-profile cases, the law firm is committed to achieving justice for its clients.

John Kehoe, a Partner at the firm, expressed his satisfaction in being entrusted by Sterling International Consulting Group to pursue legal action against Lenovo and Superfish Inc. In a statement, he highlighted the firm's commitment to consumer protection and corporate accountability. “Kehoe Law Firm is proud to represent Sterling International Consulting Group in the pursuit of justice for class members affected by Lenovo's alleged failure to disclose the preinstallation of the Superfish program, compromising user security and privacy."

For more information about Kehoe Law Firm and its involvement in this matter, please contact John A. Kehoe at jkehoe@kehoelawfirm.com or call (215) 792-6676.