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Rosen Law Firm Announces Filing of Securities Class Action
Class Action |
2010/09/26 20:39
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The Rosen Law Firm today announced that a class action has been commenced on behalf of all persons or entities who purchased the securities of Duoyuan Printing, Inc. during the period from November 6, 2009 through September 13, 2010 (the "Class Period"). To join the Duoyuan Printing class action, visit the firm's website at http://www.rosenlegal.com, or call Laurence Rosen, Esq. or Phillip Kim, Esq., toll-free, at 866-767-3653; you may also email lrosen@rosenlegal.com or pkim@rosenlegal.com for information on the class action. The complaint alleges violations of the federal securities laws by Duoyuan Printing and certain of its present and former officers and directors. Particularly, the complaint asserts that defendants made false or misleading statements and failed to disclose (a) that the legitimacy of certain of the Company's expenses related to advertising and tradeshow costs could not be verified; (b) that Duoyuan Paper had improper relationships with certain vendors and distributors; (c) that, as a result, the Company's financial results were misstated during the Class Period; (d) that the Company lacked adequate internal and financial controls; and (e) that, as a result of the above, the Company's financial statements were materially false and misleading. NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER. You may access the website at http://www.rosenlegal.com to participate in the proposed class action. If you wish to serve as lead plaintiff, you must move the Court no later than November 19, 2010. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Laurence Rosen, Esq. or Phillip Kim, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at lrosen@rosenlegal.com or pkim@rosenlegal.com. You may also visit the firm's website at http://www.rosenlegal.com. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Attorney Advertising. Prior results do not guarantee a similar outcome. This news release was distributed by GlobeNewswire, www.globenewswire.com |
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Hyundai recalls 139,500 Sonatas in US on steering
Business |
2010/09/26 10:38
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Hyundai Motor Co. said it is voluntarily recalling 139,500 Sonata sedans in the U.S. because of a manufacturing defect that could cause drivers to lose steering control. The recall affects 2011 models built between Dec. 11, 2009 and Sept. 10, the National Highway Traffic Safety Administration noted on its website Sunday. Some of the cars have steering column shafts with connections that may not have been tightened enough or were improperly assembled. As a result, the steering wheel could become separated from the column or a driver could lose the ability to properly steer the car. The U.S. government had opened an investigation into possible steering problems in the vehicle in August. Hyundai, South Korea's top automaker, has said there have been no related injuries or crashes reported. Owners of affected vehicles can go to their dealers for inspection. Dealers also will update power steering software. Owners may also call NHTSA at 888-327-4236 for more information. The recall comes as automakers ramp up their focus on safety and quality control in the wake of Toyota Motor Corp.'s massive global recall last year over gas pedal and floor mat problems. In February, Hyundai announced a recall of about 47,000 Sonata midsize sedans, mostly sold in South Korea, to replace front door latches following a handful of customer complaints. The company said it had discovered a mechanical problem with the latches which, in rare instances, would not close properly.
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Fuwei Films Announces Settlement of U.S. Securities Class Action
Class Action |
2010/09/20 08:37
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Fuwei Films (Holdings) Co., Ltd., a manufacturer and distributor of high-quality BOPET plastic film located in China, today announced that it has entered into a final settlement agreement with the plaintiffs in a putative securities class action that has been pending in federal district court in New York (the "Action"). As previously disclosed, the parties reached a settlement in principle of the Action on June 24, 2010. In the Action, plaintiffs assert claims against Fuwei Films, certain of its present and former officers, directors, and shareholders, and the underwriters for Fuwei Films' December 19, 2006 initial public offering, alleging that the Registration Statement and Prospectus contained materially false and misleading information in violation of federal securities laws. Pursuant to the settlement agreement and subject to the Court's approval, Plaintiffs have agreed to accept US$2.15 million in full and final settlement of all claims they have or may have against the Company, certain of its present and former officers, directors, and shareholders, and the underwriters. Fuwei Films has agreed to contribute US$1 million towards the settlement. The signed settlement agreement has been submitted to the Court for approval. The Company's management continues to believe that plaintiffs' allegations are without merit. However, in recognition of the attendant risks and costs of continued litigation, and the benefits of resolving the same, the Board of Directors has unanimously consented to settle this case. As of June 30, 2010, the Company accrued US$1 million liability in connection with this litigation excluding defense costs. |
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Egg Recall Class Action Lawsuit Filed Against Two Farms
Class Action |
2010/09/20 08:35
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A salmonella food poisoning class action lawsuit has been filed against two farms that allegedly sold millions of contaminated eggs that have sickened hundreds of people throughout the United States.
The egg recall lawsuit was filed in the U.S. District Court for the Northern District of Illinois in Chicago last week on behalf of six plaintiffs from Illinois, Indiana, Pennsylvania, North Carolina, New York and Mississippi. The lawsuit seeks class action status to represent all people who bought or fell ill after eating eggs from Wright County Egg and Hillandale Farms in Iowa. Last month, the two companies had to recall more than half a billion eggs nationwide due to salmonella contamination. The U.S. Centers for Disease Control and Prevention (CDC) has estimated that at least 1,519 people have fallen ill from salmonella poisoning from the eggs, but it is likely that the true number of food poisoning cases is much higher since most illnesses are never reported. The egg farms have long been plagued by problems, which have only come to light in the aftermath of the egg recall. The companies have been cited numerous times in the past due to non-compliance with a variety of federal regulations. A congressional hearing has been scheduled for next week before the House Energy and Commerce Committee, who say that U.S. Congress investigators found that Wright County Egg found salmonella in 426 tests of its eggs between 2008 and 2010. The lawsuit accuses the company of negligence and failing to meet federal regulations. Salmonella is a type of bacteria that attacks the gastrointestinal tract, causing mild to severe food poisoning. For most healthy adults, symptoms of food poisoning from salmonella typically resolve after a few days or weeks. However, young children, the elderly, and individuals with compromised immune systems have an increased risk of suffering severe food poisoning after ingesting the bacteria. If not properly treated, some cases of salmonella food poisoning can lead to hospitalization, dehydration or death. Both Hillandale Farms and Wright County Egg share some of the same suppliers, and while contaminated chicken feed has been found at both farms, the FDA has yet to determine that the feed was the source of the salmonella contamination.
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Qantas A330 plunge passengers sue Airbus
Class Action |
2010/09/20 08:33
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A class-action lawsuit against Airbus and Northrop Grumman has been filed in the US by attorneys acting on behalf of passengers and crew injured in a serious incident involving a Qantas Airbus A330-300 in 2008. The lawsuit is being led by a US law firm following contact from Australian law firms which will represent passengers and crew injured when A330 VH-QPA plunged over 1000ft in two uncommanded dives while on a flight from Singapore to Perth on October 7 2008, forcing the crew to make a mayday call and an emergency landing at Learmonth. The latest interim report from the ATSB suggests that the uncommanded dives may have been caused by erroneous data inputs from a faulty air data inertial reference unit (ADIRU), which was manufactured by Northrop Grumman. Airbus has already moved an application to have the case heard in Australia rather than the US, with some commentators noting that Australian laws would not allow people to claim the same level of compensation as in the US. Currently, it appears that the trial will be heard in the US.
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The Rosen Law Firm Files Class Action Lawsuit
Securities |
2010/09/20 01:35
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The Rosen Law Firm, P.A. today announced that it has filed a class action lawsuit on behalf of investors who purchased the securities of China-Biotics, Inc. during the period between July 10, 2008 and August 30, 2010 (the "Class Period"), seeking to recover damages caused by Defendants' violations of federal securities laws. To join the China-Biotics class action, visit the firm's website at http://www.rosenlegal.com, or call Laurence Rosen, Esq. or Phillip Kim, Esq., toll-free, at 866-767-3653; you may also email lrosen@rosenlegal.com or pkim@rosenlegal.com for information on the class action. The case is pending in the U.S. District Court for the Central District of California. The Complaint asserts violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 against China-Biotics and certain of its present and former officers and directors for making material misstatements and omissions about the Company's true financial condition. According to the Complaint, during the Class Period Defendants misled investors about the quality, nature, and quantity of China-Biotics' purported retail outlets and stores. The Complaint also alleges that China-Biotics' fiscal 2008 financial statements filed with the SEC are materially false because the Company's fiscal 2008 financial statements filed with Chinese authorities reported merely a fraction of the cash, revenue and income set forth in the Company's 2008 financial statements with the SEC. The Complaint asserts that when this adverse information began to enter the market, the price of China-Biotics securities dropped, damaging investors. If you wish to serve as lead plaintiff, you must move the Court no later than November 16, 2010. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Laurence Rosen, Esq. or Phillip Kim, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at lrosen@rosenlegal.com or pkim@rosenlegal.com. You may also visit the firm's website at http://www.rosenlegal.com. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. |
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Top court rules for cop in Atlanta shooting
Court Watch |
2010/09/19 08:33
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Georgia's top court has ruled in favor of a former Atlanta police officer who sought immunity after being charged with murder in a shooting of a 19-year-old who was killed while the officer was investigating a report of a vehicle break-in. The state Supreme Court on Monday upheld by a 6-1 decision a lower court ruling in favor of former officer Raymond Bunn, who claimed he was acting in self-defense when he shot 19-year-old Corey Ward in a parking lot in 2002. Bunn contended that Ward was driving the SUV straight at him when Bunn shot at the window, hitting Ward twice in the left side of his head. Prosecutors said Bunn was not directly in front of the vehicle, which belonged to Ward's mother, when he fired. The Supreme Court majority ruled that the preponderance of evidence favored Bunn's story, despite conflicting evidence. |
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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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