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Class Action Lawsuits Related to M&A Disclosure Violations
Class Action |
2011/01/24 11:37
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Class action security lawsuits are on the rise, with a large spike in federal litigation alleging disclosure violations in merger and acquisition transactions, according to a study by the Stanford Law School Securities Class Action Clearinghouse and Cornerstone Research. The study revealed the number of lawsuits related to M&A transactions increased 471 percent. The study also found that of all class action security suits in 2010, 15.4 percent of Standard & Poor's 500 healthcare companies were named defendants in a class action.
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Court won't stop class-action suit against Pella
Class Action |
2011/01/18 09:18
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The Supreme Court won't stop the class-action certification of a lawsuit against Pella Corp. over a purported defect in one of its windows. The high court on Tuesday refused to hear an appeal from the window-maker. The lower courts have certified a class-action lawsuit against Pella. The lawsuit alleges that Pella's aluminum clad wood "Proline" casement windows have a design defect that allows water to seep behind the aluminum cladding. They claim that allows the wood to rot at an accelerated rate, and that Pella committed consumer fraud by not declaring publicly the role that the purported design flaw had in the rot. But Pella fought the class-action certification, saying consumer fraud claims are inappropriate for class treatment. |
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High court denies man's gun arrest appeal
Court Watch |
2011/01/18 03:19
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Missing a plane connection cost Utah gun owner Greg Revell 10 days in jail after he was stranded in New Jersey with an unloaded firearm he had legally checked with his luggage in Salt Lake City. Nevertheless, the Supreme Court without comment refused on Tuesday to let Revell sue Port Authority of New York and New Jersey police for arresting him on illegal possession of a firearm in New Jersey and for not returning his gun and ammunition to him for more than three years. Revell was flying from Salt Lake City to Allentown, Pa., on March 31, 2005, with connections in Minneapolis and Newark, N.J. He had checked his Utah-licensed gun and ammunition with his luggage in Salt Lake City and asked airport officials to deliver them both with his luggage in Allentown. But the flight from Minneapolis to Newark was late, so Revell missed his connection to Allentown. The airline wanted to bus its passengers to Allentown, but Revell realized that his luggage had not made it onto the bus and got off. After finding his luggage had been given a final destination of Newark by mistake, Revell missed the bus. He collected his luggage, including his gun and ammunition, and decided to wait in a nearby hotel with his stuff until the next flight in the morning.
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Filipino workers' class action says Denny's owes $10m
Breaking Legal News |
2011/01/12 08:43
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A $10-million class action lawsuit has been launched against Denny's restaurants in B.C., charging the family friendly diner chain wronged foreign workers by slashing hours, refusing to pay overtime and failing to pay for the workers' round-trip airfare. The suit, filed Jan. 7, alleges Denny's restaurants in B.C. breached the contracts of more than 50 Filipino workers brought to Canada through the Temporary Foreign Workers Program, from December 2006 to the present. The program allows employers to hire foreigners to fill short-term labour shortages. Lawyers Charles Gordon and Christopher Foy filed the lawsuit against Denny's parent companies, Northland Properties Corp. and Dencan Restaurants Inc. The lawyers say the suit is needed as foreign workers, eager to establish themselves in Canada and fearful of being sent home, are reticent to speak up when their rights are violated. "They're put in a highly vulnerable position vis-a-vis their employers," Gordon said. "Many hope to become permanent residents but are afraid of making any waves that may jeopardize that." The few that do typically face repercussions, Gordon said. According to the lawsuit, a district manager threatened to send Maria Genalyn Reyes home to the Philippines if she chose to work at a competing restaurant chain once her contract ended. Alfredo Sales was allegedly fired after demanding outstanding overtime pay and return airfare between the Philippines and Vancouver. The employment contract signed by the workers states that it is the employer's obligation to pay for the transportation costs between the two countries. Another worker hasn't been reimbursed for the cost of her airfare, did not consistently receive her promised hours of work and is owed overtime pay, the suit alleges.
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Judge approves $179M settlement for AK Steel retirees
Class Action |
2011/01/12 08:42
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U.S. District Judge Timothy Black has approved a previously disclosed $179 million settlement and entered a final judgment in a dispute between AK Steel and retirees at its Butler, Pa., steel plant. The AK Steel retirees had filed a class-action lawsuit in June 2009 to stop the company from making changes to their health insurance benefits. It had started making retirees pay a portion of their premiums in January 2010. West Chester-based AK Steel is the largest Dayton-area company, with more than $4 billion in revenue. Under the terms of the settlement, AK Steel will continue to pay for the benefits through 2014 and also pay $91 million to two trusts to cover future benefits for hourly and salaries retirees. In return, the company has been relieved of liability for any benefits after 2014, and the lawsuit was dismissed.
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Major Labels to Pay $45 Million to Settle Songwriter Class Action
Class Action |
2011/01/12 05:44
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The major record labels have agreed to pay $45 million to settle claims they failed to pay songwriters and music publishers while including their works on compilation albums. Warner Music, EMI, Universal Music and Sony BMG were sued in 2008 in a class action by Canadian songwriters and music publishers. Generally, labels had established a practice of including songs on compilations for which they had not yet secured proper rights, placing them on a "pending list" for later payment. TorrentFreak noted that the pending list for unpaid tracks had reached 300,000 just in Canada. In addition to the $45 million to be paid by the labels to artists, the proposed settlement "also establishes a new mechanism that will expedite future payments of mechanical royalties to music rights holders." "This agreement with the four major labels resolves all outstanding pending list claims," said David Basskin, president and CEO the Canadian Musical Reproduction Rights Agency (CMRRA). |
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Class-action planned over grow-op searches
Court Watch |
2011/01/12 03:43
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Len Gratto says there's no way he is paying a $5,200 fine to Mission, B.C., for growing cucumbers in his basement. Gratto -- who has lived in the home for 30 years -- says he's raring to join an imminent class-action lawsuit attacking the municipality's grow-op bylaw inspections. A number of citizens, led by Stacy Gowanlock, allege their homes were illegally searched for marijuana grow ops resulting in them being slapped with fees and repair orders costing upward of $10,000 -- all on questionable evidence. Gratto, 67, says he's never grown pot, but "laughable" evidence against him consists of pictures of some "dirt" on the basement wall and "a furnace pipe going up into the chimney, where it should be. "It's upsetting they can do this," Gratto said. "We were growing cucumbers in the basement because they wouldn't take outside." Gowanlock said he was searched in 2009 and hit with thousands in fees and repair orders despite never growing pot in his home.
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Class action or a representative action is a form of lawsuit in which a large group of people collectively bring a claim to court and/or in which a class of defendants is being sued. This form of collective lawsuit originated in the United States and is still predominantly a U.S. phenomenon, at least the U.S. variant of it. In the United States federal courts, class actions are governed by Federal Rules of Civil Procedure Rule. Since 1938, many states have adopted rules similar to the FRCP. However, some states like California have civil procedure systems which deviate significantly from the federal rules; the California Codes provide for four separate types of class actions. As a result, there are two separate treatises devoted solely to the complex topic of California class actions. Some states, such as Virginia, do not provide for any class actions, while others, such as New York, limit the types of claims that may be brought as class actions. They can construct your law firm a brand new website, lawyer website templates and help you redesign your existing law firm site to secure your place in the internet. |
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