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Lawsuits accuse Tesla’s Musk of fraud over tweets, going-private proposal

Tesla and Chief Executive Elon Musk were sued twice on Friday by investors who said they fraudulently engineered a scheme to squeeze short-sellers, including through Musk’s proposal to take the electric car company private. The lawsuits were filed three days after Musk stunned investors by announcing on Twitter that he might take Tesla private in a record $72 billion transaction that valued the company at $420 per share, and that “funding” had been “secured.” In one of the lawsuits, the plaintiff Kalman Isaacs said…

Apple faces lawsuits after saying it slows down aging iPhones

SAN FRANCISCO: Apple Inc defrauded iPhone users by slowing devices without warning to compensate for poor battery performance, according to eight lawsuits filed in various federal courts in the week since the company opened up about the year-old software change. The tweak may have led iPhone owners to misguided attempts to resolve issues over the last year, the lawsuits contend. All the lawsuits - filed in U.S. District Courts in California, New York and Illinois - seek class-action to represent potentially millions of…

Samsung faces potential class action in US over Note 7

Samsung Electronics Co Ltd's U.S. unit is facing a proposed class action lawsuit from three Galaxy Note 7 customers, according to a filing in a federal court in Newark, New Jersey. The complaint against Samsung Electronics America Inc seeks to represent a nationwide class of Note 7 customers in Nevada, Pennsylvania and California. The world's top smartphone maker last week permanently ended sales of the fire-prone Note 7 smartphone less than two months after its launch. Samsung announced the recall of 2.5 million Note 7s…

Multan prisoner faces three more lawsuits

MULTAN: The Multan prisoner who had scaled 150 feet high water tank a couple of days ago, had to pay the price of his stunt as three more cases were registered against him including the one of attempted suicide, ARY News reported.