Latest news with #ScottScott
Finextra
18 hours ago
- Business
- Finextra
UK tribunals rules Visa and Mastercard fees breach competition law
The UK's Competition Appeal Tribunal has ruled that Visa and Mastercard's multilateral interchange fees charged to retailers breach European competition law. 0 This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. The unanimous ruling on linked lawsuits brought by merchants, marks the latest stage in a years-long dispute over card fees retailers pay to the two US payments giants. David Scott, global managing partner, Scott+Scott, which represented the claimants, told Reuters the ruling was "a significant win for all merchants who have been paying excessive interchange fees to Visa and Mastercard". Both firm's intend to appeal. A Mastercard spokesperson told Reuters: "Mastercard strongly disagrees with today's decision, which is deeply flawed, and will seek permission to appeal."
Yahoo
21 hours ago
- Business
- Yahoo
Mastercard, Visa's merchant fees breach competition law, UK tribunal rules
LONDON (Reuters) -Global payments processors Visa and Mastercard's default multilateral interchange fees which are charged to retailers infringe competition law, a London tribunal ruled on Friday in the latest round of the long-running legal saga. London's Competition Appeal Tribunal unanimously ruled that Visa and Mastercard's multilateral interchange fees breach European competition law, in a ruling in linked lawsuits brought by hundreds of merchants. David Scott, global managing partner of law firm Scott+Scott, which represented the claimants, said the ruling was "a significant win for all merchants who have been paying excessive interchange fees to Visa and Mastercard". Both Visa and Mastercard said they disagreed with the decision and intended to seek permission to appeal. A Visa spokesperson said: "Visa continues to believe that interchange is a critical component to maintaining a secure digital payments ecosystem that benefits all parties, including consumers, merchants and banks." "Mastercard strongly disagrees with today's decision, which is deeply flawed, and will seek permission to appeal," a Mastercard spokesperson said in a statement. Litigation over multilateral interchange fees, which are levied on retailers when cardholders make a transaction, has rumbled on for well over a decade in Britain and elsewhere. Scott+Scott said Friday's ruling was the first time that Visa and Mastercard's commercial card and inter-regional multilateral interchange fees had been found to infringe competition law. The liability trial which led to Friday's ruling took place in early 2024. A ruling following a further trial to determine whether any alleged overcharge was passed on by retailers to customers is pending. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
14-06-2025
- Business
- Associated Press
Scott+Scott Attorneys at Law LLP Reminds Investors of Its Current Investigation Into Compass Diversified Holdings (NYSE: CODI)
NEW YORK, June 14, 2025 (GLOBE NEWSWIRE) -- Scott+Scott Attorneys at Law LLP ('Scott+Scott'), a shareholder and consumer rights litigation firm, is investigating whether Compass Diversified Holdings ('Compass' or the 'Company') (NYSE: CODI) or certain of its officers and directors issued misleading and false statements and/or failed to disclose information material to investors in violation of federal securities laws. CLICK HERE TO RECEIVE ADDITIONAL INFORMATION ABOUT THIS POTENTIAL CLASS ACTION Compass owns and manages a diverse set of middle-market businesses, including Lugano Holdings, Inc. ('Lugano'), which designs, manufacturers, and markets luxury jewelry. On May 7, 2025, after market hours, the Company issued a press release disclaiming 'reliance on its financial statements for fiscal 2024 amid an ongoing internal investigation' into Lugano, and that the Company intends to delay the filing of its 1Q25 Form 10-Q. The press release also revealed that an ongoing investigation, led by outside counsel and a forensic accounting firm, 'preliminarily identified irregularities in Lugano's [non-Compass] financing, accounting, and inventory practices.' Lugano's founder and Chief Executive Officer resigned following the disclosure of the investigation's preliminary findings. On this news, the price of the Company's stock fell $10.70, or nearly 62%, to close at $6.55 on May 8, 2025, on unusually high volume ARE YOU A POTENTIAL CLASS MEMBER ELIGIBLE TO RECOVER? CLICK HERE If you purchased or otherwise own Compass securities and have suffered a loss, realized or unrealized, and you wish to discuss this investigation, please contact attorney Nicholas Bruno at (888) 398-9312 or at [email protected]. CLICK HERE TO FIND OUT IF YOU CAN RECOVER YOUR LOSSES About Scott+Scott Scott+Scott is an international law firm known for its expertise in representing corporate clients, institutional investors, businesses, and individuals harmed by anticompetitive conduct or other forms of wrongdoing, including securities law and shareholder violations. With more than 100 attorneys in eight offices in the United States, as well as three offices in Europe, our advocacy has resulted in significant monetary settlements on behalf of our clients, along with other forms of relief. Our highly experienced attorneys have been recognized for being among the top financial lawyers in 2024 by Lawdragon, WWL: Commercial Litigation 2024, and Legal 500 in Antitrust Civil Litigation, and have received top Chambers 2024 rankings. In addition, we have been repeatedly recognized by the American Antitrust Institute for the successful litigation of high-stakes anticompetitive claims in the United States. This may be considered Attorney Advertising. CONTACT: Nicholas Bruno Scott+Scott Attorneys at Law LLP 230 Park Avenue, 24th Floor, New York, NY 10169 (888) 398-9312 [email protected]
Associated Press
10-06-2025
- Business
- Associated Press
AppLovin Investor Alert: Scott+Scott Attorneys at Law LLP Investigates AppLovin Corporation's Directors and Officers for Breach of Fiduciary Duties
NEW YORK--(BUSINESS WIRE)--Jun 10, 2025-- Scott+Scott Attorneys at Law LLP ('Scott+Scott'), an international securities and consumer rights litigation firm, is investigating whether the leadership of AppLovin Corporation ('AppLovin') (NASDAQ: APP) breached their fiduciary duties to AppLovin and its shareholders. CLICK HERE TO LEARN MORE Scott+Scott is investigating whether members of AppLovin's board of directors (the 'Board') made, or caused AppLovin to make, false and/or misleading statements, as well as failed to disclose material adverse facts, about AppLovin's business, operations, prospects, and financial health. Specifically, Scott+Scott is investigating whether the Board failed to disclose material information, including whether: (1) AppLovin is reverse-engineering and exploiting advertising data from Meta Platforms; (2) AppLovin is using manipulative practices to drive their own ad click-through and app download rates higher; (3) that, as a result, AppLovin was inflating installation numbers and thus its profit figures; and (4) as a result, statements about AppLovin's business, operations, and prospects lacked a reasonable basis. On February 26, 2025, two short reports were published, disclosing the above information. On this news, the stock price fell over 12.2%. What You Can Do –CLICK HERE FOR YOUR OPTIONS AS A SHAREHOLDER If you own shares of AppLovin, you may have legal claims against AppLovin's directors and officers. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Joe Pettigrew toll-free at (844) 818-6982 or[email protected]. About Us Scott+Scott is an international law firm known for its expertise in representing corporate clients, institutional investors, businesses, and individuals harmed by anticompetitive conduct or other forms of wrongdoings, including securities law and shareholder violations. With more than 100 attorneys in nine offices in the United States, as well as three offices in Europe, our advocacy has resulted in significant monetary settlements on behalf of our clients, along with other forms of relief. Our highly experienced attorneys have been recognized for being among the top financial lawyers in 2024 by Lawdragon , WWL: Commercial Litigation 2024, and Legal 500 in Antitrust Civil Litigation, and have received top Chambers 2024 rankings. In addition, we have been recognized by the American Antitrust Institute for the successful litigation of high-stakes anticompetitive claims in the United States. To learn more about Scott+Scott, our attorneys, or complex case resolution, please visit Attorney Advertising View source version on CONTACT: Joe Pettigrew Scott+Scott Attorneys at Law LLP 600 W. Broadway, Suite 3300, San Diego, CA 92101 (844) 818-6982 [email protected] KEYWORD: NEW YORK UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: CLASS ACTION LAWSUIT PROFESSIONAL SERVICES LEGAL SOURCE: Scott+Scott Attorneys at Law LLP Copyright Business Wire 2025. PUB: 06/10/2025 05:15 PM/DISC: 06/10/2025 05:15 PM
Associated Press
23-05-2025
- Business
- Associated Press
Scott+Scott Attorneys at Law LLP Reminds Investors of the Ongoing Action Against Iovance Biotherapeutics, Inc. (NASDAQ: IOVA)
NEW YORK, May 23, 2025 (GLOBE NEWSWIRE) -- Scott+Scott Attorneys at Law LLP ('Scott+Scott'), an international shareholder and consumer rights litigation firm, alerts investors that a securities class action lawsuit has been filed in the United States District Court for the Northern District of California against Iovance Biotherapeutics, Inc. ('Iovance' or the 'Company') (NASDAQ: IOVA), and certain of its former and current officers and/or directors (collectively, 'Defendants'). The Class Action asserts claims under §§10(b) and 20(a) of the Securities Exchange Act of 1934 (15 U.S.C. §§78j(b) and 78t(a)) and U.S. Securities and Exchange Commission Rule 10b-5 promulgated thereunder (17 C.F.R. §240.10b5) on behalf of all persons other than Defendants who purchased or otherwise acquired Iovance securities between May 9, 2024, and May 8, 2025, inclusive (the 'Class Period'), and were damaged thereby (the 'Class'). The Class Action is captioned: Farberov v. Iovance Therapeutics, Inc., et al., No. 3:25-cv-04199 (N.D. Cal.). CLICK HERE TO RECEIVE ADDITIONAL INFORMATION ABOUT THIS POTENTIAL CLASS ACTION Iovance is a commercial-stage biopharmaceutical company that develops and commercializes cell therapies for the treatment of metastatic melanoma and other solid tumor cancers. The Company's top priority is the commercialization of Amtagvi, a tumor-derived autologous T-cell immunotherapy used to treat adult patients with unresectable or metastatic melanoma. The Company received FDA approval for Amtagvi on February 16, 2024. The Company commercially launched Amtagvi on February 20, 2024. The Class Action alleges that, during the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) new Authorized Treatment Centers ('ATCs') were experiencing longer timelines to begin treating patients with Amtagvi; (2) the Company's sales team and new ATCs were ineffective in patient identification and patient selection for Amtagvi, leading to higher patient drop-offs; (3) the foregoing dynamics led to higher costs and lower revenue because ATCs could not keep pace with manufactured product; and (4) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. The truth began to emerge on May 8, 2025, after market hours, when the Company released its 1Q25 financial results, revealing a quarterly total product revenue of $49.3 million, a significant decline from the prior quarter's $73.7 million. The Company also announced its FY25 total product revenue guidance had been slashed from between $450 million and $475 million to between $250 million and $300 million. The Company revealed it was 'revising full-year 2025 revenue guidance to reflect recent launch dynamics' of Amtagvi. The Company further revealed '[t]he updated forecast considers experience with ATC [authorized treatment center] growth trajectories and treatment timelines for new ATCs.' On this news, the price of Iovance shares declined $1.42 per share, or 44.8%, to close at $1.75 per share on May 9, 2025, on unusually heavy trading volume. ARE YOU A POTENTIAL CLASS MEMBER ELIGIBLE TO RECOVER? CLICK HERE If you purchased or otherwise acquired Iovance securities during the Class Period and were damaged thereby, you are a member of the 'Class' and may be able to seek appointment as lead plaintiff. If you wish to apply to be lead plaintiff, a motion on your behalf must be filed with the U.S. District Court for the Northern District of California no later than July 14, 2025. The lead plaintiff is a court-appointed representative for absent class members of the Class. You do not need to seek appointment as lead plaintiff to share in any Class recovery in the Class Action. If you are a Class member and there is a recovery for the Class, you can share in that recovery as an absent Class member. If you wish to apply to be lead plaintiff, please contact attorney Nicholas Bruno at (888) 398-9312 or at [email protected]. CLICK HERE TO FIND OUT IF YOU CAN RECOVER YOUR LOSSES About Scott+Scott Scott+Scott is an international law firm known for its expertise in representing corporate clients, institutional investors, businesses, and individuals harmed by anticompetitive conduct or other forms of wrongdoing, including securities law and shareholder violations. With more than 100 attorneys in eight offices in the United States, as well as three offices in Europe, our advocacy has resulted in significant monetary settlements on behalf of our clients, along with other forms of relief. Our highly experienced attorneys have been recognized for being among the top financial lawyers in 2024 by Lawdragon, WWL: Commercial Litigation 2024, and Legal 500 in Antitrust Civil Litigation, and have received top Chambers 2024 rankings. In addition, we have been repeatedly recognized by the American Antitrust Institute for the successful litigation of high-stakes anticompetitive claims in the United States. ARE YOU A POTENTIAL CLASS MEMBER IN ANOTHER CASE? CLICK HERE TO VIEW PENDING CLASS ACTIONS This may be considered Attorney Advertising. CONTACT: Nicholas Bruno Scott+Scott Attorneys at Law LLP 230 Park Avenue, 24th Floor, New York, NY 10169 (888) 398-9312 [email protected]
