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Sheehan
NEW YORK (Legal Newsline) – Kingsford’s claims that its hardwood briquettes are “100% natural” are false, a class action lawsuit says.
Lawyers Spencer Sheehan and James Chung sued the company Feb. 2 in New York federal court, claiming the product contains synthetic components like borax.
“The product is not ‘100% Natural Hardwood’ because it contains wood scraps including between 3 and 8 percent sawdust, instead of only hardwood, which is the source for lump charcoal,” the lawsuit says.
It also complains about a green flame and the statement “cleaner burn” on the packaging.
“The green flame and comparative claim give consumers the impression the Product is beneficial, or less harmful to the environment, compared to other fire sources such as propane gas and lump charcoal,” the suit says.
Stefan Qin, 24, allegedly drained the $90 million fund for ‘indulgences and speculative personal investments.’
A 24-year-old Australian cryptocurrency hedge fund founder accused of stealing nearly all of the $90 million in assets held by one his funds to spend on “indulgences and speculative personal investments” has pleaded guilty to one count of securities fraud.
Stefan Qin, founder of New York-based cryptocurrency hedge funds the Virgil Sigma Fund and the VQR Multistrategy Fund, allegedly stole investor money from Virgil Sigma for years and then tried to steal investor money from the VQR Multistrategy to pay back Virgil Sigma investors, according to the US Attorney’s Office for the Southern District of New York.
Feldman
NEW YORK (Legal Newsline) – Peloton says class action lawyers have failed in a “do-over” to make claims under New York law as they push a lawsuit over the slashing of Peloton’s content library.
The company on Feb. 4 filed another motion to dismiss the case, in response to an amended complaint filed by attorneys at DiCello Levitt Gutzler in New York City and Keller Lenkner in Chicago.
A November decision by New York federal judge Lewis Liman allowed the case to proceed, but it tossed the claims of a Michigan woman under sections of the New York General Business Law.
Hedge Fund Founder Pleads Guilty to Neiman Marcus Bankruptcy Fraud
Daniel Kamensky pressured a rival investor to drop its bid for assets he wanted on the cheap.
The founder of a New York-based hedge fund has pleaded guilty to bankruptcy fraud for pressuring a rival investor to abandon a bid to acquire certain assets from the Neiman Marcus bankruptcy so he could buy them for as little as half as much.
When luxury department store Neiman Marcus filed for Chapter 11 bankruptcy protection in May, Marble Ridge Capital founder Daniel Kamensky was appointed co-chair of the official committee of unsecured creditors. According to the US Attorney’s Office for the Southern District of New York, Kamensky was negotiating with the committee to acquire Neiman Marcus securities known as MyTheresa series B shares for $0.20 a share when he learned that an unnamed investment bank wanted to offer between $0.30 and $0.40 each for the same shares.