Panera Bread to Pay $5.75 to Settle Securities Fraud Lawsuit

Panera Bread, the Richmond Heights-based company behind the Saint Louis Bread Company restaurants here and countless Panera eateries across the nation, has settled a class action lawsuit alleging it defrauded its investors.

Panera Bread has agreed to pay $5.75 million to settle a class action lawsuit brought by shareholders who alleged the chain of bakery cafes misled investors about the success of its Crispani pizza, a product Panera discontinued in 2008. Continue reading Panera Bread to Pay $5.75 to Settle Securities Fraud Lawsuit

Banks resisting push for federal settlement on wrongful foreclosure cases

The federal government is pushing for a settlement with banks reeling from the wrongful foreclosure scandal which has affected thousands of homeowners nationwide.

According to a Bloomberg report, federal regulators are pushing for $20 billion from banks who foreclosed on homes without proper paperwork or by filing false court documents to seize homes. Continue reading Banks resisting push for federal settlement on wrongful foreclosure cases

Bank of America Sued by Investors Over Loans

Bank of America Corp., the biggest US bank by assets, was sued by investors in mortgage-backed bonds who are seeking to force the bank to buy back loans underlying their securities.

Bank of America’s Countrywide Financial unit breached representations and warranties about the loans, which it originated, the investors said in the complaint filed today in New York State Supreme Court in Manhattan. Continue reading Bank of America Sued by Investors Over Loans

Claims forms sent to consumers duped by robo-call scheme

Consumers duped into buying bogus auto warranties through a robo-calling scheme will soon have a chance for a refund.

The Federal Trade Commission has sent at least 11,780 claims forms to consumers who said they purchased good-for-nothing automobile warranties through Transcontinental.

Transcontinental hired Voice Touch Inc. to conduct a robo-calling scheme to lure consumers into purchasing automobile warranties. Consumers first paid an up-front fee and never received what was promised over the telephone. Continue reading Claims forms sent to consumers duped by robo-call scheme

Super Bowl ticket holders waiting for better offers, unimpressed so far

In a post yesterday, we reported that NFL Commissioner Roger Goodell had offered about 400 jilted Super Bowl ticket holders at least $5,000 for the seating debacle which transpired prior to the game two weeks ago.

Some fans across the country are already unimpressed with this latest, the third overall, offer. Continue reading Super Bowl ticket holders waiting for better offers, unimpressed so far

NFL urged to settle with suing Super Bowl ticket holders

The lawyer representing about 400 disgruntled Super Bowl ticket holders is urging NFL Commissioner Roger Goodell to reach a settlement over the fiasco soon.

According to USA Today, Michael Avenatti represents the fans who arrived at Super Bowl XLV two weeks ago to find their seats weren’t completed. The league and host Dallas Cowboys were unable to find proper replacement seats prior to the championship game, leaving these several hundreds fans out of a couple thousand dollars and trip they’d soon rather forget. Continue reading NFL urged to settle with suing Super Bowl ticket holders

JP Morgan Chase admits errors in wrongful foreclosure cases on military families

JP Morgan Chase has finally admitted fault and is apologizing for wrongful foreclosures on 18 military families and overcharging at least 4,500 more on their home mortgages.

”We failed to comply with aspects of the law. We deeply regret that service members have been overcharged and in some cases faced foreclosure because of these errors,” a JP Morgan Chase spokesperson told the House Committee on Veterans’ Affairs this week on Capitol Hill.

In the last two weeks, we’ve reported on several military families who’ve lost their homes due to wrongful foreclosures. Military personnel are protected from foreclosure by the Servicemembers Civil Relief Act (SCRA), which also caps interest on mortgage debt while a member is active. Continue reading JP Morgan Chase admits errors in wrongful foreclosure cases on military families

Super Bowl fans file fraud lawsuit against NFL, Cowboys owner

Disgruntled football fans who held tickets to unsafe seating at Super Bowl XLV have filed a lawsuit against the NFL, the Dallas Cowboys and specifically its owner, Jerry Jones.

Jones is accused of trying to set a Super Bowl attendance record last Sunday, but to do so he needed to add about 1,250 additional seats at the newly-minted Cowboys Stadium in Arlington, Texas.

By the time for kickoff on Sunday between the Pittsburgh Steelers and Green Bay Packers, the seating section was not completed and that many fans were without seats. Some were moved to another part of the stadium, but at least 450 others were relegated to watching the game behind a fence or at a nearby bar. Continue reading Super Bowl fans file fraud lawsuit against NFL, Cowboys owner

Lawsuits Filed in Super Bowl Seating Mishap

It took a little more than 48 hours after Super Bowl XLV ended for the first of two lawsuits over the Super Bowl ticket fiasco to be filed. And two more websites working together are collecting names of aggrieved fans.

The lawsuits claim the NFL and Dallas Cowboys had known for as long as a week that there was a danger that some temporary seats wouldn’t be finished before kickoff. The lawsuit claims some customers were “damaged by the Defendants’ misrepresentations, omissions, and concealment of the cruel truth, which was that they had been sold tickets for seats that did not exist at the time and that were never to be had.” Those without seats were allowed to remain in the stadium, but many could see the game only from video monitors.

The NFL initially offered about 400 fans who could not be seated in the stadium triple the face value of their $800 tickets and a ticket to next year’s Super Bowl in Indianapolis. That ticket would be transferable. Late Tuesday, those inconvenienced fans were given a second option: a free, nontransferable ticket of the fan’s choice to a future Super Bowl as well as roundtrip airfare and lodging.

About 2,000 fans who were delayed getting into the stadium because their seats were still being completed were offered ticket refunds. Eric Grubman, the NFL’s executive vice president of business ventures, said on Pittsburgh radio that the long delays in getting those people through the gates contributed to some of the backups at Cowboys Stadium on Sunday. Also, three gates had to be closed because of concerns about falling ice, which injured six people earlier in the week.

No decision has been made about the 865 fans who the NFL said were given comparable or better seats; Grubman said the league will check with those fans after contacting the other 2,400 who were more greatly affected.

Lawsuit says match.com filled with phony accounts

A new class-action lawsuit filed against the dating Web site match.com claims most of the referrals a customer gets are to inactive or fake accounts.

According to reports, one law firm spent the past four years compiling data against match.com. It says that 85 percent of match.com customers end up with less than was promised. The firm accuses match.com of using deceptive and unscrupulous practices to get consumers to subscribe to their service, or to renew it. Continue reading Lawsuit says match.com filled with phony accounts