--- title: "Cases of Singapore sovereign funds suing other companies" type: "Topics" locale: "zh-CN" url: "https://longbridge.com/zh-CN/topics/35282427.md" description: "Content from AI, not investment advice$NIO Inc(NIO.US) Singapore's sovereign wealth funds mainly include GIC (Government Investment Corporation) and Temasek Holdings. According to public court records and reports, GIC is more active as a plaintiff (the suing party) in investor lawsuits such as securities fraud, while Temasek Holdings rarely has records of initiating such lawsuits as a plaintiff (more often appearing as a defendant, such as in the class action related to FTX). Here are the main companies sued by GIC besides NIO..." datetime: "2025-10-16T08:10:05.000Z" locales: - [en](https://longbridge.com/en/topics/35282427.md) - [zh-CN](https://longbridge.com/zh-CN/topics/35282427.md) - [zh-HK](https://longbridge.com/zh-HK/topics/35282427.md) author: "[未来的交易员皮看穿](https://longbridge.com/zh-CN/profiles/10939.md)" --- > 支持的语言: [English](https://longbridge.com/en/topics/35282427.md) | [繁體中文](https://longbridge.com/zh-HK/topics/35282427.md) # Cases of Singapore sovereign funds suing other companies Content from AI, not investment advice $NIO Inc(NIO.US)  Singapore's sovereign wealth funds mainly include GIC (Government Investment Corporation) and Temasek Holdings. According to public court records and reports, GIC is relatively active as a plaintiff (the suing party) in investor lawsuits such as securities fraud, while Temasek Holdings rarely has records of initiating such lawsuits as a plaintiff (more often appearing as a defendant, such as in the FTX-related class action). Below are the main cases of companies sued by GIC, apart from Nio (NIO), based on filings in U.S. federal courts and related reports. Temasek has no clear records of being a plaintiff in securities lawsuits. These lawsuits mostly involve allegations of securities fraud, where companies misled investors, resulting in fund losses. The outcomes are mostly losses or settlements, reflecting sovereign funds' attempts to protect their rights in U.S. stock investments, but with a low success rate. #### 1\. **Lawsuit against BP plc (2014)** - **Background**: GIC accused BP of concealing safety risks and environmental impacts from investors during the 2010 Deepwater Horizon oil spill in the Gulf of Mexico, leading to a sharp drop in BP's stock price and losses for GIC. The case was part of a class action. - **Outcome**: In 2018, the U.S. District Court for the Southern District of Texas granted BP's "motion for judgment on the pleadings," dismissing all of GIC's claims. GIC lost the case and received no compensation. BP ultimately reached a global settlement with other plaintiffs (such as the U.S. government) totaling over $20 billion, but GIC did not benefit. #### 2\. **Lawsuit against Merck & Co., Inc. (2013)** - **Background**: GIC accused Merck and its subsidiary Schering-Plough of misleading investors about the safety of the painkiller Vioxx. Vioxx was recalled in 2004 due to heart risks, leading to massive fines and a stock crash for Merck. GIC claimed losses in the billions. - **Outcome**: In 2017, the U.S. Court of Appeals for the Third Circuit reversed the district court's decision, dismissing GIC's federal securities law claims (due to statute of limitations and insufficient evidence). GIC lost the case and received no compensation. This was one of many Vioxx-related lawsuits against Merck, with Merck settling for over $4.8 billion in total, but GIC was not part of the settlement. #### 3\. **Lawsuit against Celgene Corporation (2021)** - **Background**: GIC accused Celgene of exaggerating clinical trial data and FDA approval prospects for Ozanimod (a multiple sclerosis drug) between 2016 and 2018, misleading investors and causing losses when GIC purchased shares. The case is related to the larger class action "In re Celgene Corporation Securities Litigation." - **Outcome**: The case is still ongoing. As of October 2024, the court denied the defendants' motion to dismiss, allowing the lawsuit to proceed. There has been no judgment, settlement, or compensation yet. Celgene has been acquired by Bristol-Myers Squibb, which may affect liability allocation. #### Overall Observations - Most of GIC's lawsuits stem from major corporate scandals (e.g., environmental disasters, drug safety issues) and seek to recover investment losses, but they often end in defeat, reflecting the complexity and high bar for securities litigation. - Temasek Holdings has no similar records of being a plaintiff in securities lawsuits; its investment disputes are more often handled through internal reviews or as a defendant (e.g., in the FTX case, Temasek was accused of aiding fraud but handled it internally with pay cuts, with no final judgment). - Similar to the Nio case (filed in August 2025, alleging inflated revenue from battery leasing, currently on hold pending class action results), GIC tends to target Chinese concept stocks or high-growth companies, but overall, successful cases are rare. ### 相关股票 - [Merck (MRK.US)](https://longbridge.com/zh-CN/quote/MRK.US.md) - [NIO-SW (09866.HK)](https://longbridge.com/zh-CN/quote/09866.HK.md) - [BP PLC-Spons (BP.US)](https://longbridge.com/zh-CN/quote/BP.US.md) - [NIO Inc (NIO.US)](https://longbridge.com/zh-CN/quote/NIO.US.md) - [NIO Inc. USD OV (NIO.SG)](https://longbridge.com/zh-CN/quote/NIO.SG.md) ## 评论 (10) - **王哪跑啊 · 2025-10-16T08:35:58.000Z**: Repeat offender? 🤣 - **买好股做好人不被割 · 2025-10-16T08:24:30.000Z**: Is this sovereign fund so easily taken advantage of by retail investors? - **蔚来就是明天 · 2025-10-16T08:24:21.000Z**: Won't Trump target Nio to sanction China? 🌚 - **未来的交易员皮看穿** (2025-10-16T08:26:09.000Z): He's idle, why would he care about a 10-billion-dollar company? If he does, it must have core technology, then it's definitely worth a big rise. - **蔚来就是明天** (2025-10-16T08:29:35.000Z): Makes sense🌚, just speculating about the next sanction black swan - **王哪跑啊** (2025-10-16T08:36:20.000Z): If this is really the case, then the stock price might really skyrocket. - **想和棒棒一起玩糖糖 · 2025-10-16T08:17:15.000Z**: I have also thought about how Nio calculates the depreciation of its battery swap business. Now I understand, it's Nio packaging it to Weidian. - **纯牛马的修行之路 · 2025-10-16T08:14:21.000Z**: gic 赚钱了不说话，投资亏钱了开始找各种理由要赔偿，看来是过不下去了 - **火星土特产 · 2025-10-16T08:14:02.000Z**: Does filing a lawsuit prove that you've worked? - **未来的交易员皮看穿** (2025-10-16T08:14:52.000Z): Haha, I don't know