Jul 16, 2020 | Securities Class Action Archive
Deutsche Bank Investors Who Purchased The Company’s Securities Between November 7, 2017 and July 6, 2020, Both Dates Inclusive, And Suffered Losses Greater Than $500,000 Encouraged To Contact Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is investigating securities claims on behalf of investors of Deutsche Bank Aktiengesellschaft (“Deutsche Bank” or the “Company”) (NYSE: DB) to determine whether Deutsche Bank may have issued materially misleading business information to investors.
Deutsche Bank investors who purchased, or otherwise acquired, the Company’s securities between November 7, 2017 and July 6, 2020, both dates inclusive (the “Class Period”) and suffered losses greater than $500,000 are encouraged to complete Kehoe Law Firm’s Securities Class Action Questionnaire or contact Kevin Cauley, Director, Business Development, (215) 792-6676, Ext. 802, [email protected], [email protected], to discuss the securities investigation or potential legal claims.
A class action lawsuit has been filed against Deutsche Bank and certain company officers seeking to recover damages caused by Defendants’ alleged violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
According to the class action complaint, throughout the Class Period, Defendants, allegedly, made materially false and misleading statements regarding the Company’s business. Defendants, allegedly, made false and/or misleading statements and/or failed to disclose that: (i) Deutsche Bank had failed to remediate deficiencies related to AML, its disclosure controls, procedures, and internal control over financial reporting, and its U.S. operations’ troubled condition; (ii) as a result, Deutsche Bank failed to properly monitor customers that Deutsche Bank itself deemed to be high risk, including, among others, the convicted sex offender Jeffrey Epstein and two correspondent banks, Danske Estonia and FBME Bank, both of which were the subjects of prior scandals involving financial misconduct; (iii) the foregoing, once revealed, was foreseeably likely to have a material negative impact on Deutsche Bank’s financial results and reputation; and (iv) as a result, Deutsche Bank’s public statements were materially false and misleading at all relevant times.
Jul 16, 2020 | Securities Class Action Archive
NanoViricides, Inc. Investors Who Purchased NNVC Securities Between January 23, 2020 and July 13, 2020 And Suffered Significant Losses Encouraged To Contact Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of investors of NanoViricides, Inc. (“NanoViricides” or the “Company”) (NYSE: NNVC) to determine whether the Company engaged in securities fraud or other unlawful business practices.
The securities investigation concerns whether NanoViricides provided false or misleading information to investors about its activities related to drug development, including a potential treatment for COVID-19.
NanoViricides investors who purchased, or otherwise acquired, the Company’s securities between January 23, 2020 and July 13, 2020, both dates inclusive, and suffered significant losses are encouraged to complete Kehoe Law Firm’s Securities Class Action Questionnaire or contact Kevin Cauley, Director, Business Development, (215) 792-6676, Ext. 802, [email protected], [email protected], to discuss the securities investigation or potential legal claims.
Jul 16, 2020 | Data Breach
Class Actions Allege Amazon, Google, FaceFirst, and Microsoft Unlawfully Collected, Obtained, Stored, Used, Possessed And Profited From Biometric Identifiers
On July 14, 2020, four separate, but very similar, class action complaints were filed in United States District Courts against FaceFirst, Inc. (“FaceFirst”), Google LLC (“Google”), Amazon.com, Inc. (“Amazon”), and Microsoft Corporation (“Microsoft”) alleging that said Defendants, in their efforts to improve their facial recognition technology, committed violations of the Illinois Biometric Information Privacy Act (“BIPA”) by, among other things, unlawfully collecting, obtaining, storing, using, possessing and profiting from the biometric identifiers (“namely, facial geometric scans”) and information of Plaintiffs and all other similarly situated Illinois residents and citizens (the “Class Members”).
The class action complaints against FaceFirst, Google, Amazon, and Microsoft seek (a) statutory damages of $5,000 per BIPA violation, or, alternatively, if Defendants acted negligently, $1,000 per BIPA violation, along with attorneys’ fees and costs; (b) disgorgement of Defendants’ ill-gotten gains derived from the use of the unlawfully-acquired data; and (c) an injunction (i) barring Defendants from any further use of Illinois citizens’ and residents’ biometric identifiers and information; (ii) barring Defendants from continuing to collect, obtain, store, use, possess and profit from Plaintiffs’ and Class Members’ biometric identifiers and information; and (iii) requiring Defendants to delete and destroy Plaintiffs’ and Class Members’ biometric identifiers and information.
According to the class action complaints, IBM made the “Diversity in Faces Dataset” available to the Defendants which obtained the dataset and, allegedly, used the links provided by IBM to download, copy or otherwise obtain from Flickr each photograph in the dataset, including Plaintiffs’ photographs, in order to associate the biometric identifiers and information provided by IBM with the actual photographs to which the biometric data related. Further, the Defendants, allegedly, profited from the biometric identifiers and information contained in the Diversity in Faces Dataset, because those biometric identifiers and information allowed the Defendants to improve its facial recognition products and technologies, including by allowing the Defendants to improve the effectiveness of its facial recognition technology on a diverse array of faces, thereby making those products and technologies more valuable in the commercial marketplace.
The Defendants, allegedly, never advised or informed the Plaintiffs or their legal authorized representative in writing: (a) that they collected, stored and used Plaintiffs’ biometric identifiers and information; or (b) of the specific purpose and length of term for which Plaintiffs’ biometric identifiers and information were being collected, stored and used. Additionally, the Defendants never received a written release executed by the Plaintiffs or their legally authorized representative to collect, capture, receive, obtain, store or use their biometric identifiers and information.
Do You Believe Your Biometric Information May Have Been Illegally Collected, Stored, Used, Disclosed, Transmitted Or Disseminated?
Illinois’ Biometric Information Privacy Act provides a private right of action in an Illinois state circuit court, or as a supplemental claim in federal district court, against an offending party. Among other relief, BIPA provides for liquidated damages of $1,000 or actual damages, whichever is greater, against a private entity that negligently violates a provision of BIPA, as well as liquidated damages of $5,000 or actual damages, whichever is greater, against a private entity that intentionally or recklessly violates a provision of BIPA.
If you believe your biometric data has been illegally collected, stored, used, disclosed, transmitted or disseminated, please contact Kehoe Law Firm, P.C., Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected], [email protected], to discuss potential legal claims.
Jul 16, 2020 | Consumer Protection, Employment & Technology Archive
FTC Order Stops the Marketer of “Thrive” Supplement From Making Baseless Claims It Can Treat, Prevent, or Reduce the Risks from COVID-19
Kehoe Law Firm, P.C. is making consumers aware that on July 10, 2020, the FTC announced that the California-based marketer of a supplement called Thrive, which consists mainly of Vitamin C and herbal extracts, is barred from continuing to make baseless claims that it can treat, prevent, or reduce the risk of COVID-19, under an administrative settlement with the Federal Trade Commission.
The FTC proposed order also bars the marketer of Thrive, Marc Ching (“Ching”), from making similarly unsupported cancer treatment or prevention claims for products containing CBD. The case against Ching is the FTC’s first against a marketer of a supposed COVID-19-related health product. In April 2020, the FTC announced that Ching agreed to a preliminary federal court order that imposed similar terms.
“There’s no proof that this product will prevent or treat COVID-19, and no proof that any CBD product will treat cancer,” said Andrew Smith, Director of the FTC’s Bureau of Consumer Protection. “This case, and the hundreds of warning letters we’ve sent, demonstrate that we will remain vigilant against companies that lack the scientific proof to back up their claims.”
To date, the FTC has sent more than 275 letters to other companies warning them against falsely promoting or advertising COVID-19 products or therapies as effective treatments.
According to the FTC’s administrative complaint, since at least December 2018, Ching has advertised and sold Thrive online, through his Whole Leaf Organics website, and in March 2020 he began marketing it as an “anti viral wellness booster” that treats, prevents, or reduces the risk of COVID-19. In addition, the FTC alleged Ching falsely stated that these benefits of Thrive were clinically proven.
The complaint also alleged that Ching used his Whole Leaf Organics website to advertise and sell three CBD-containing products, CBD-EX, CBD-RX, and CBD-Max, falsely claiming they were effective cancer treatments. CBD-EX is an ingestible capsule consisting mainly of a combination of cannabidiol and herbal extracts. CBD-RX and CBD-Max are oils composed primarily of CBD and hemp extract.
In addition to barring Ching’s false and unsubstantiated health claims, the FTC’s order also requires Ching to send written notices to customers and retailers of Thrive, clearly explaining that it will not treat, prevent, or reduce the risk of COVID-19. Ching also must tell customers and retailers that CBD-EX, CBD-RX, and CBD-Max will not treat cancer. Finally, the letters must inform customers and retailers of Ching’s settlement with the FTC.
Source: Federal Trade Commission – FTC.gov
