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Andrew Kornecki v. Airbus SE et al: Class Action Complaint

August 06, 2020 - Class Action Complaint involving allegations of fraud, bribery, and corruption in Andrew J. Kornecki v. Airbus SE, described as a Netherlands-based "multinational aerospace corportion, operating through its Commercial Aircraft, Defense and Space, and Helicopters divisions"; Guillaume M.J.D. Faury, Tom Enders, Dominik Asam, and Harald Wilhelm at the U. S. District Court for the District of New Jersey.

World Acceptance Corporation: $21.7M Penalty

August 06, 2020 - Administrative Order imposing penalties totaling $21.7 million against World Acceptance Corporation, of South Carolina, for "violations of the anti-bribery, books and records, and internal accounting controls provisions of the Foreign Corrupt Practices Act" regarding a "bribery scheme" involving "WAC's former wholly-owned subsidiary in Mexico, WAC de Mexico, S.A. de CV".

Capxon International Electronic Company Ltd.: Scheme of Arrangement Petition

July 31, 2020 - Petition seeking sanction for a Scheme of Arrangement in Capxon International Electronic Company Limited, which is based in Hong Kong, at the Grand Court of the Cayman Islands.

Ning Wang v. Cheetah Mobile Inc. et al: Class Action Complaint

July 31, 2020 - Class Action Complaint alleging fraud in Ning Wang v. Cheetah Mobile Inc., described as Cayman Islands-domiciled, China-based "mobile Internet company that offers mobile utility products"; Sheng Fu, Vincent Zhenyu Jiang, and Thomas Jintao Ren at the U. S. District Court for the Central District of California.

O-Net Technologies (Group) Ltd.: Scheme of Arrangement Petition

July 30, 2020 - Petition seeking sanction for a Scheme of Arrangement in the matter of O-Net Technologies (Group) Limited, which is based in Hong Kong, at the Grand Court of the Cayman Islands.

Jinmao (China) Hotel Investments and Management Ltd.: Scheme of Arrangement Petition

July 29, 2020 - Petition seeking sanction for a Scheme of Arrangement in the matter of Jinmao (China) Hotel Investments and Management Limited, which is based in Hong Kong, at the Grand Court of the Cayman Islands.

Sun Cheong Creative Development Holdings Ltd.: Winding Up Petition

July 28, 2020 - Winding Up Petition in the matter of Sun Cheong Creative Development Holdings Limited, which is based in Hong Kong, Grand Court of the Cayman Islands.

Robert Hyams v. Ronald Keating et al: Complaint

July 27, 2020 - Shareholder Derivative Complaint in Robert Hyams, derivatively on behalf of Evoqua Water Technologies Corp. v. Ronald C. Keating, Benedict J. Stas, Martin Lamb, Judd A. Gregg, Harbhajan Bhambri, Gary A. Cappeline, Brian Hoesterey, Vinay Kumar, Peter M. Wilver, AEA Investors LP, AEA EWT Holdings LP, AEA EWT Holdings GP LLC, AEA Investors Fund V LP, AEA Investors Participant Fund V LP, AEA Investors QP Participant Fund V LP, AEA Investors Fund V-A LP, AEA Investors V-B LP, AEA Investors PF V LLC, AEA Investors LP, AEA Investors Partners V LP, and AEA Management (Cayman) Ltd., as Defendants, and Evoqua Water Technologies Corp., as Nominal Defendant, described as a Delaware-domiciled "water-treatment solutions" company whose shares are listed on NYSE, at the U. S. District Court for the Western District of Pennsylvania.

Matthew Ellison v. Tufin Software Technologies Ltd. et al: Class Action Complaint

July 21, 2020 - Class Action Complaint in Matthew Ellison v. Tufin Software Technologies Ltd., described as "an Israeli company that develops, markets, and sells software and cloud-based security solutions" whose shares are listed on the New York Stock Exchange; Reuven Kitov, Jack Wakileh, Reuven Harrison, Ohad Finkelstein, Edouard Cukierman, Yair Shamir, Ronni Zehavi, Yuval Shachar, JPMorgan Securities LLC, Barclays Capital Inc., Jefferies LLC, Oppenheimer & Co. Inc., Robert W. Baird & Co. Inc., Piper Jaffray & Co. Inc., Piper Jaffray & Co., Stifel Nicolaus & Company Inc., William Blair & Company LLC, and DA Davidson & Co. at the U. S. District Court for the Southern District of New York.

Dean Paul Mitzel TTEE DGI Holdings 401K v. Kirkland Lake Gold Ltd. et al: Class Action Complaint

July 17, 2020 - Class Action Complaint alleging securities fraud in Dean Paul Mitzel TTEE DGI Holdings 401K v. Kirkland Lake Gold Ltd., described as a Canadian company that "owns and operates gold mines in Canada and Australia" whose shares are listed on the New York Stock Exchange, and Anthony P. Makuch at the U. S. District Court for the Southern District of New York.

We hunt for red flags in high-value, cross-border finance by monitoring offshore and onshore courts, regulatory actions, offering documents, and other sources - and email you the results.

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Cayman Court Secrecy: A Huge Red Flag for Foreign Investors & Clients
David Marchant
As any fule kno, the biggest enemy of fraud, corruption, money laundering, and other forms of financial crime is transparency, while their best friend is secrecy. That's why the unprecedented mass sealing of cases that's taking place at the Financial Services Division of the Grand Court of the Cayman Islands is repugnant to anyone with a genuine concern for financial crime.