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Posada Faces Seven Charges, None for Terrorism
Law Center |
2007/01/12 14:28
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A federal grand jury in the Western District of Texas has returned a seven-count indictment charging Luis Posada Carriles with one count of naturalization fraud and six counts of making false statements in a naturalization proceeding, the Department of Justice announced today. The indictment alleges that Posada, 78, a native of Cuba, knowingly attempted to obtain naturalization as a U.S. citizen unlawfully by making false statements on his application for naturalization on or about Sept. 10, 2005. The indictment also alleges that he knowingly made false statements under oath during his naturalization interview with Department of Homeland Security (DHS) officials on April 25 and 26, 2006. In his naturalization interview, Posada allegedly made several false statements regarding his March 2005 entry into the United States, including statements about the transportation routes and methods used, as well as individuals who accompanied him. For example, he stated that he traveled from Honduras through Belize and entered the United States over land near Matamoros, Mexico, and Brownsville, Texas, with the assistance of an unidentified alien smuggler. In fact, Posada entered the United States by sea aboard the motor vessel “Santrina†accompanied by four individuals, the indictment alleges. Posada further stated in his naturalization interview that he had never had any type of documentation, passport or identification from the Republic of Guatemala, when, in fact, he had a fraudulent passport issued by that nation bearing his photograph in the name of “Manuel Enrique Castillo Lopez,†the indictment alleges. Posada is currently detained by DHS’s U.S. Immigration and Customs Enforcement on administrative immigration violations. His initial court appearance in connection with the criminal charges is expected to take place early next week before a U.S. magistrate judge in the Western District of Texas. If convicted, the defendant faces a maximum sentence of ten years imprisonment for the naturalization fraud count and five years imprisonment for each of the false statement counts. This case was investigated by ICE. The prosecution is being handled by David B. Deitch and Paul Ahern, Trial Attorneys with the Justice Department’s National Security Division. The federal investigation of Posada continues. An indictment is merely a formal allegation that a defendant has committed a violation of federal criminal laws. Every defendant is presumed innocent unless and until proven guilty. |
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China court upholds sentence of rights activist
International |
2007/01/12 14:25
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A Chinese court rejected the final appeal Friday of Chen Guangcheng, a blind Chinese human rights legal activist, who was sentenced to four years and three months in prison for damaging property and "organizing a mob to disturb traffic." The Intermediate Court in Linyi city upheld the verdict and sentence after a Chinese intermediate appellate court ordered a retrial of Chen's case in November. Chen claims the charges are retribution for his documentation of forced sterilizations and abortions performed by Chinese officials to enforce China's one-child policy. Chen was tried without the assistance of his team of prominent Chinese lawyers, who were arrested during the trial on charges of stealing a wallet. Human rights activists in China characterize Chen's prosecution as indicative of China's uncompromising stance against public dissent.
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House OKs bill expanding study of stem cells
Breaking Legal News |
2007/01/12 14:05
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The US House of Representatives passed HR 3 Thursday, which would amend the Public Health Service Act to allow for additional embryonic stem cell research. In a press release issued after passage, the White House characterized embryonic stem cells as human life, and promised to veto the bill. President Bush’s first veto in office came this past summer, when he vetoed another embryonic stem cell research bill. Bill supporters had hoped that midterm elections would make the bill veto-proof, but Thursday’s 253-174 vote is still short of the required two-thirds majority.
"While it's not enough to override a veto, it's enough to show we have tremendous momentum," said Rep. Diana DeGette, D-Colo., who spearheaded the House effort with Rep. Michael Castle, R-Del. With the Senate near having the two-thirds majority needed to override a veto, DeGette suggested that it is time for the president to begin negotiating with Congress over compromise language. In 2001, Bush limited federal funding for research on embryonic stem cells to the then existing lines, of which only 21 remain viable. Researchers say that many of these lines are contaminated, and are not very useful, while research from 300 newer lines that were obtained from unused embryos destined to be thrown away from fertility clinics show far more promise. The House-based bill would expand that pool of available cells to include those from any of the thousands of embryos that are discarded by fertility clinics each year, as long as those cells were freely donated for research by the parents. It would also impose some of the country's first ethics rules on embryo research.The vote came after about three hours of impassioned speeches by members on both sides of the issue. Rep. Roscoe Bartlett, R-Md., spoke up for alternative methods of obtaining stem cells. "The assumption by many people that you have to kill human embryos to get embryonic stem cells just isn't true," Bart-lett said. |
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Michael Aiello to join Weil, Gotshal as Partner
Law Firm News |
2007/01/12 14:04
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Weil, Gotshal & Manges LLP, the international law firm, today announced that Michael J. Aiello has joined as a partner in the Mergers and Acquisitions group of the firm's Corporate Department, effective January 2, 2007. Mr. Aiello, 37, has moved to Weil Gotshal's New York office from Dewey Ballantine, where he was a partner. He started his legal career as an associate at Weil Gotshal.
Mr. Aiello regularly represents acquirors, targets, buy-out groups, boards of directors, special committees, investment banks, investors and shareholder groups in complex domestic and international transactions, both negotiated and unsolicited. Among clients he has represented are The Walt Disney Company, Sony Corporation of America, Actavis Group h.f., DTE Energy, Associated British Foods plc, Sumitomo Corporation of America, Omnicare, Inc., Sempra Energy, Credit Suisse, Lazard Freres and Merrill Lynch.
Of Mr. Aiello's decision to join the firm, Stephen J. Dannhauser, Chairman of Weil Gotshal, said, "We are delighted to welcome an attorney of Mike Aiello's caliber, particularly since he is, in a sense, 'coming home' to the firm where he started. He is an accomplished practitioner and extraordinary individual. We have worked hard to develop a client focused, team-oriented approach, and are confident that Michael will be a vital part of our first-tier mergers and acquisitions practice headed by Howard Chatzinoff and Fred Green."
Added Thomas A. Roberts, co-chair of the firm's Corporate Department, "This makes sense for us and it makes sense for Mike, not only because we know him so well, but because Weil Gotshal will provide him with the ideal domestic and international platform from which to serve clients, expand his practice, and help grow our overall Corporate practice."
Confirming the reasons for his decision, Mr. Aiello added, "There's no doubt in my mind that Weil Gotshal is a great choice, both for the clients I represent, and for me. This is a firm at the top of its game, a market leader and one of the fastest growing in the industry, with unparalleled M&A and private equity practices which complement my own perfectly."
Commenting on Mr. Aiello's addition, Barry M. Wolf, co-chair of the firm's Corporate Department added, "Weil Gotshal is not a firm that takes lightly the decision to add a lateral partner, but in Michael's case, we saw two things which made this work. First, his practice is at a level comparable to our own and, in some cases, with clients we also represent. Second, we know him and he knows us, so there was no uncertainty about ensuring a smooth transition."
Michael J. Aiello holds a JD degree from Widener University School of Law (1994), and earned a B.A. in Political Science from New York University in 1991. Prior to joining Weil Gotshal as an associate, he served as law clerk to Judge Collins J. Seitz of the United States Court of Appeals for the Third Circuit. He was recognized in 2005 and 2006 in Chambers USA - America's Leading Lawyers for Business as a leader in the field of mergers and acquisitions, and was named one of The National Law Journal's "40 Under 40" for his work in M&A. He has authored several articles discussing the fiduciary duties of corporate directors and officers, recent developments in mergers and acquisitions and corporate compliance matters, including Sarbanes-Oxley and related rules. He is a recipient of the prestigious Burton Award for Legal Achievement for his article, "Taking a Hard Look at Poison Pills," which originally appeared in The New York Law Journal in 2005.
The Corporate Department of Weil, Gotshal & Manges LLP numbers over 500 attorneys globally, and regularly represents clients in the world's largest and most complex transactions, including sophisticated mergers and acquisitions, joint ventures, private equity transactions, securities offerings, financings, debt restructurings, real estate transactions and other commercial transactions. The Department also handles an array of general corporate matters, including SEC and regulatory compliance, corporate governance practices, executive benefits and compensation plans, proxy solicitations, new business ventures and technology and trademark licensing.
Weil, Gotshal & Manges LLP is an international law firm of over 1,100 lawyers, including approximately 310 partners. Weil Gotshal is headquartered in New York, with offices in Austin, Boston, Brussels, Budapest, Dallas, Frankfurt, Houston, London, Miami, Munich, Paris, Prague, Providence, Shanghai, Silicon Valley, Singapore, Warsaw, Washington DC and Wilmington.
www.weil.com
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Zwerling, Schachter & Zwerling to Distribute Funds
Law Firm News |
2007/01/12 13:19
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Zwerling, Schachter & Zwerling, LLP announced today that it has distributed settlement checks to Telxon Corporation Shareholders who filed valid claims in the securities class action Hayman v. Pricewaterhouse Coopers LLP, No. 1:01 CV 1078 (N.D. Ohio) ("PwC"). The settlement fund in the PwC action totaled $27.9 million, and was in addition to the $40 million settlement previously reached in the related action In re Telxon Corporation Securities Litigation, No. 5:98 CV 2876 (N.D. Ohio). The two actions alleged that Defendants’ material false and misleading statements artificially inflated the price of Telxon securities, and that, as a consequence, purchasers of Telxon securities suffered damages.
As a result of the combined $67.9 million settlement, Telxon Shareholders who filed valid claims recovered between $0.30 and $0.74 per dollar of their recognized loss, an outstanding recovery. Settlement of these securities fraud class actions would not have been possible without the unrelenting efforts of lawyers at the Zwerling Schachter law firm. About Zwerling Schachter Zwerling Schachter concentrates in prosecuting class actions nationwide on behalf of investors. The firm currently plays a leading role in numerous major securities and complex commercial litigations pending in federal and state courts and has offices in New York City, Garden City, New York, Boca Raton, Florida and Seattle, Washington. The firm has been recognized by courts throughout the country as highly experienced and skilled in complex litigation, particularly with respect to federal securities class action litigation. If you wish to discuss this securities action or have any questions concerning your rights and interests with respect to this litigation, please contact Zwerling Schachter at 1-800-721-3900 or by e-mail at wgonzalez@zsz.com. Visit our website at: http://www.zsz.com
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Lerach Coughlin File Class Action Suit
Law Firm News |
2007/01/12 13:04
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Lerach Coughlin Stoia Geller Rudman & Robbins LLP ("Lerach Coughlin") ( http://www.lerachlaw.com/cases/celestica/) today announced that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of Celestica Inc. ("Celestica" or the "Company") securities during the period between July 27, 2006 and December 12, 2006, inclusive (the "Class Period").
If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Samuel H. Rudman or David A. Rosenfeld of Lerach Coughlin at 800/449-4900 or 619/231-1058 or via e-mail at wsl@lerachlaw.com. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.lerachlaw.com/cases/celestica/. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. The complaint charges Celestica and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Celestica provides electronic manufacturing services to original equipment manufacturers in the computing, telecommunications, aerospace and defense, automotive, consumer electronics, and industrial sectors in Asia, the Americas, and Europe. According to the complaint, throughout the Class Period, defendants issued numerous statements describing the Company's financial performance and future prospects, which they attributed, in part, to success of the Company's restructuring activities and improvements in the Mexican and European operations. The complaint alleges that these statements were materially false and misleading when made because defendants failed to disclose and/or misrepresented the following adverse facts, among others: (i) that the Company was experiencing declining demand in its Mexican operations and that division was carrying significant amounts of unneeded inventory which would have to be written off; (ii) that the Company was experiencing declining demand in its Information Technology ("IT") and communications market segments as its larger customers scaled back purchases; and (iii) as a result of the foregoing, there was no reasonable basis to project adjusted earnings per share ranging from $0.12 to $0.20. When this undisclosed information later became public, shares of Celestica common stock declined. Plaintiff seeks to recover damages on behalf of all purchasers of the securities of Celestica during the Class Period (the "Class"). The plaintiff is represented by Lerach Coughlin, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.
Lerach Coughlin, a 180-lawyer firm with offices in San Diego, San Francisco, Los Angeles, New York, Boca Raton, Washington, D.C., Houston, Philadelphia and Seattle, is active in major litigations pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations. Lerach Coughlin lawyers have been responsible for more than $20 billion in aggregate recoveries. The Lerach Coughlin Web site ( http://www.lerachlaw.com) has more information about the firm. SOURCE: Lerach Coughlin Stoia Geller Rudman & Robbins LLP |
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Moss Adams New Audit Firm for Cherokee, Inc.
Legal Business |
2007/01/12 12:51
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SALT LAKE CITY-ZEVEX International, Inc. (NASDAQ: ZVXI) has executed a definitive Merger Agreement with Moog Inc. (NYSE: MOG.A and MOG.B). Upon the closing of the merger, ZEVEX will become a wholly-owned subsidiary of Moog. The merger is expected to close in March, 2007. Upon the closing of the merger, each share of ZEVEX common stock that is issued and outstanding immediately prior to the closing, and each outstanding restricted stock unit that is convertible into shares of ZEVEX common stock, will be converted into the right to receive from Moog $13.00 in cash. Each outstanding option for shares of common stock will automatically be converted into the right to receive $13.00 per share for each share of common stock that is purchasable pursuant such option, less the per share exercise price of each such share. The maximum aggregate purchase price in the merger is $83.8 million. Moog intends to pay this purchase price from an existing line of credit. The per share price of $13.00 represents a premium of approximately 36 percent above the average trading price of ZEVEX common stock during the past 30-day period. A.G. Edwards & Sons, Inc. was engaged to act as financial advisor to ZEVEX's Board of Directors and delivered an opinion to the Board that, as of the date of the opinion, the consideration to be received by the shareholders pursuant to the terms of the merger agreement is fair, from a financial point of view, to the shareholders of ZEVEX. The law firm of Jones, Waldo, Holbrook and McDonough acted as legal advisors to ZEVEX. The merger is subject to certain conditions, including regulatory approval and approval by ZEVEX stockholders. ZEVEX will solicit approval of the merger from its stockholders by means of a proxy statement, which will be mailed to ZEVEX stockholders upon completion of the required filing and review process by the Securities and Exchange Commission. That proxy statement and other relevant documents filed with the Securities and Exchange Commission will contain information about ZEVEX, Moog, and the proposed merger. STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT AND OTHER RELEVANT DOCUMENTS CAREFULLY WHEN THEY ARE AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION THAT STOCKHOLDERS SHOULD CONSIDER BEFORE MAKING A DECISION ABOUT THE MERGER. In addition to receiving the proxy statement by mail, stockholders will also be able to obtain the proxy statement, as well as other filings (including annual, quarterly and current reports) containing information about ZEVEX, without charge, at the Securities and Exchange Commission’s website (http://www.sec.gov). Stockholders may also obtain copies of these documents without charge by requesting them from ZEVEX in writing at 4314 ZEVEX Park Lane, Salt Lake City, Utah, 84123, or by phone at (801) 264-1001, extension 203. Following the merger, ZEVEX will become a part of Moog’s Medical Devices Segment. ZEVEX will continue normal operations through its two primary divisions, Applied Technology and Therapeutics, located in Salt Lake City. ZEVEX President and Chief Executive Officer, David J. McNally, said, “We are delighted to announce our acquisition by Moog. We are pleased that our operations will remain in Salt Lake City, where 178 employees continue to serve the customer base that we have developed over the past 20 years. For our customers, we will expand our offering of fluid delivery technologies, based upon Moog’s electronic and disposable infusion products, as well as on Moog’s proven fluid management expertise in demanding industrial, commercial aircraft, and aerospace applications.†Martin Berardi, Vice President and head of the Medical Devices Segment of Moog, said, “This acquisition is a perfect fit, based upon the excellent product offering and quality reputation of ZEVEX. We believe that ZEVEX’s personnel, technology portfolio, and existing customer base provide a platform on which we can generate new growth in fluid delivery applications, including enteral feeding, and from which we can expand our product lines of medical sensors and surgical tools.†|
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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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