San Francisco, California. March 20, 2026. Bottini & Bottini Inc. & Cotchett Pitre & McCarthy LLP announce that a jury returned a unanimous verdict today against Elon Musk in favor of the firms' clients in a securities fraud class action case regarding Musk's buyout of Twitter in 2022. The verdict is estimated to be worth approximately $2.6 billion and represents the largest securities fraud verdict ever obtained in the United States.
Aaron P. Arnzen is an experienced litigator and trial attorney who specializes in representing shareholders in class action and derivative litigation.
Bottini & Bottini, Inc. and Cotchett Pitre & McCarthy LLP have filed two shareholder lawsuits alleging claims related to the sale of Yahoo's operating assets to Verizon Inc. After entering into the agreement with Verizon in July 2016, Yahoo subsequently disclosed that “senior executives” and legal staff knew about a massive data breach back in 2014 – one of the largest in U.S.
As reported in major U.S. news publications on October 29, 2012, the IRS has approved a $38 million cash award to a private citizen who provided information to the IRS which resulted in the IRS recovering back taxes from a corporation.
Bottini & Bottini, Inc. represents shareholders whose interests are threatened in corporate mergers and acquisitions. Corporate mergers and acquisitions take many forms, from all cash offers, to stock-for-stock exchanges, to part cash, part stock mergers, and finally mergers in which shareholders are not even allowed to vote due to the fact that a majority shareholder already has enough voting power to approve the merger.
In a shareholder derivative case, a current shareholder brings a lawsuit on behalf of the company and against certain third parties, which usually include current and/or former officers and directors of the company. Accountants and lawyers which have provided services to the company can also be named as defendants if their actions caused harm to the Company.
The causes of action asserted in a shareholder derivative action typically include claims for breach of fiduciary duty, insider trading, negligence, and unjust enrichment.
Securities Litigation – Class action cases filed to recover stock or bond losses due to false statements or material omissions. Cases can also be filed when shareholders do not receive fair value in a merger.
Shareholder Derivative Litigation – Cases filed by shareholders for breach of fiduciary duty against officers or directors who cause the company to suffer losses.
Mergers & Acquisitions – Class action lawsuits filed by shareholders to challenge the merger consideration or seek injunctive or equitable relief.
Bottini & Bottini, Inc. represents individuals in two types of whistleblower cases: (1) Dodd Frank Act corporate securities whistleblower cases; and (2) False Claims Act/qui tam whistleblower cases. Each set of cases is governed by different areas of law, which are outlined below.
I. Whistleblower Actions Under the Dodd-Frank Act
