Tag Archives: settlement

Settlement: SEC Smells Musk

Pay up

Tesla CEO Elon Musk’s settlement with the SEC has been approved by a judge. The South African businessman and investor was accused of fraud after tweeting that he had secured funding to take his auto-maker, Tesla, private.Musk will have to pay a hefty $20m fine and is being forced to step down as chairman within the next 6 weeks. The charges against Musk were filed by the SEC in the early fall, shortly after Musk allegedly rejected a potential settlement offer. Tesla stock plummeted around 40 points after his “secure funding” tweet. Musk, often boisterous and grandiose in his ideas, designs, and persona, is no stranger to trouble after he was shown smoking weed in a live broadcast.  Read more

From Pirate to Plaintiff

Johnny can’t depend on anyone

Johnny Depp has agreed to settle a lawsuit, in which he accused his former business managers of negligence and dabbling in fraudulent activities with his money.  The amount of money Depp was looking to recover was $25 million.  Depp played the role of victim, claiming the firm did not uphold their fiduciary duties to him.  He blamed Joel and Robert Mandel of the Management Company, who managed Depp’s affairs for 17 years, for issuing loans to outside entities without Depp’s knowledge, and investing the actor’s money in opportunities for which the managers could also claim stake.  Depp also accused the Management Group of failing to file his taxes in a timely manner.  Despite these accusations, Joel and Robert Mandel filed counterclaims in the lawsuit. Continue reading →

General Motors Switching to a Safer Future

The long road to a settlement

The General Motors defect lawsuit, which was initiated four years ago, is reaching an inevitable settlement with the assistance of the General Unsecured Creditors Trust. The independent trust is handling the company’s bankruptcy, filed in 2009, and is now facilitating the settlement with GM customers. The automotive company exhibited deceptive tactics to hide flaws in the ignition switch and side airbags. There was a direct correlation between the defects and the many claims of car crashes and deaths. Currently, the parties involved in the lawsuit are calculating a resolution. Continue reading →

United We Stand, Divided We Settle

A long legal battle ends in a truce

The 5-year legal dispute between a former Minnesota Governor and the deceased American Sniper has finally settled.  Following the publication of Chris Kyle’s autobiography, in 2012, Jesse Ventura filed a lawsuit against Kyle. Even after Kyle’s unfortunate passing in 2013, Ventura continued his legal pursuit against Kyle’s estate. Ventura argues that a particular passage in Kyle’s book is defamatory, and damaged his reputation within the Navy SEAL community. Continue reading →

Cheerleading Leads the Team to a Victory

Something to cheer about

The employees who are expected to show the most enthusiasm and team spirit are the same individuals who maintain their positions at the bottom of the Oakland Raiders pay scale. Former Cheerleaders for the team initiated a class action lawsuit against the NFL for unfair payment of wages. Although a legal settlement was reached in early 2014, the Raiders Cheerleaders have only recently reaped the benefits. Read more