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Tag: Sue

Defi Community Members Aim to Sue Yearn Finance Creator Andre Cronje and Fork YFI

October 12, 2020
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| finance

Members of the decentralized finance (defi) community are upset with Yearn Finance founder Andre Cronje over the mishap with Cronje’s secret Eminence (EMN) project. The Eminence protocol gathered $15 million before the project was ultimately hacked before the official launch.

According to a recent blog post published on Medium, a group of defi community members plan to sue Yearn Finance founder, Andre Cronje, and fork YFI as well. As news.Bitcoin.com recently reported, there’s been a lack of trust in Cronje’s work since an undercover project that didn’t even launch was drained for $15 million in funds.

The project was called Eminence (EMN) and after the incident, Cronje said he was lying low from social media.

“We are crowdfunding capital to finance a lawsuit against Andre Cronje, Kirby and Banteg over the EMN scandal on behalf of the victims,” explains the blog post written by the group dubbed ‘EMN

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A Child And His Mother Sue Nintendo Over ‘Joy-Con Drift’

October 8, 2020
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| business

KEY POINTS

  • Nintendo is being sued by a boy and his mother over the “Joy-Con drift”
  • Their complaint alleged that Nintendo has not done enough to solve the issue and warn consumers
  • The mother said that the two sets of Joy-Con controllers she has bought both experienced the hardware problem

Nintendo is being sued once more over a hardware problem common among Nintendo Switch controllers.

A boy and his mother have filed a class-action lawsuit against the Switch maker alleging that Nintendo has not done enough to solve “Joy-Con drift,” Tech Radar reported. This problem involves the analog sticks on the controllers randomly moving around and inputting commands to the console even when nobody is moving them.

Luz Sanchez alleged in the complaint that a month after she purchased her son’s Nintendo Switch, the Joy-Cons were registering movements even when her son was not touching them. She claimed that the

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U.S. pension funds sue Allianz after $4 billion in coronavirus losses

September 29, 2020
| No Comments
| business

FRANKFURT (Reuters) – Pension funds for truckers, teachers and subway workers have lodged lawsuits in the United States against Germany’s Allianz, one of the world’s top asset managers, for failing to safeguard their investments during the coronavirus market meltdown.

The logo of Allianz is seen on a building in Paris, France, April 30, 2020. REUTERS/Charles Platiau

Market panic around the virus that resulted in billions in losses earlier this year scarred many investors, but no other top-tier asset manager is facing such a large number of lawsuits in the United States connected to the turbulence.

In March, Allianz ALVG.DE was forced to shutter two private hedge funds after severe losses, prompting the wave of litigation the company says is “legally and factually flawed”.

Together, the various suits filed in the U.S. Southern District of New York claim investors lost a total of around $4 billion. The fallout has also prompted

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Posted in %1$s Tagged %1$s

U.S. pension funds sue Allianz after $4 bln in coronavirus losses

September 28, 2020
| No Comments
| business

By Tom Sims

FRANKFURT, Sept 28 (Reuters) – Pension funds for truckers, teachers and subway workers have lodged lawsuits in the United States against Germany’s Allianz, one of the world’s top asset managers, for failing to safeguard their investments during the coronavirus market meltdown.

Market panic around the virus that resulted in billions in losses earlier this year scarred many investors, but no other top-tier asset manager is facing such a large number of lawsuits in the United States connected to the turbulence.

In March, Allianz ALVG.DE was forced to shutter two private hedge funds after severe losses, prompting the wave of litigation the company says is “legally and factually flawed”.

Together, the various suits filed in the U.S. Southern District of New York claim investors lost a total of around $4 billion. The fallout has also prompted questions from the U.S. Securities and Exchange Commission, Allianz has said.

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Posted in %1$s Tagged %1$s

U.S. Pension Funds Sue Allianz After $4 Billion in Coronavirus Losses | Investing News

September 28, 2020
| No Comments
| business

FRANKFURT (Reuters) – Pension funds for truckers, teachers and subway workers have lodged lawsuits in the United States against Germany’s Allianz, one of the world’s top asset managers, for failing to safeguard their investments during the coronavirus market meltdown.

Market panic around the virus that resulted in billions in losses earlier this year scarred many investors, but no other top-tier asset manager is facing such a large number of lawsuits in the United States connected to the turbulence.

In March, Allianz was forced to shutter two private hedge funds after severe losses, prompting the wave of litigation the company says is “legally and factually flawed”.

Together, the various suits filed in the U.S. Southern District of New York claim investors lost a total of around $4 billion. The fallout has also prompted questions from the U.S. Securities and Exchange Commission, Allianz has said.

A spokesman for Allianz Global Investors said

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Posted in %1$s Tagged %1$s

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