Netlist, Inc. (Nasdaq: NLST) announced today that it and certain of its officers and directors have been named as defendants in purported class action lawsuits alleging violations of Federal securities laws. Netlist believes the claims in the suits are without merit and it will defend against them vigorously.

In a Separate Release - Law Offices of Howard G. Smith announces that a securities class action lawsuit has been filed on behalf of all person or entities who purchased shares of Netlist, Inc. in connection with the Company's Initial Public Offering ("IPO") on or about November 30, 2006, or who purchased shares thereafter in the open market (the "Class Period"). The class action lawsuit was filed in the United States District Court for the Southern District of New York.

A homeless man accused of killing four other homeless men and placing their bodies in manholes in a dispute over scrap metal pleaded guilty Wednesday to four counts of murder.
 
Daniel J. Sharp entered the plea as part of an agreement with prosecutors that will have him serve his sentences concurrently instead of consecutively.
Sharp, 55, faces 45 to 65 years when he is sentenced Sept. 4 by St. Joseph Superior Court Judge Jane Woodward Miller.

Sharp pleaded guilty to killing Michael S. Nolen Jr., Michael W. Lawson, Brian Talboom and Jason Coates between Dec. 18 and 21 and dumping their bodies in manholes 75 yards apart just south of downtown South Bend.

Autopsies showed the four men died of blunt force trauma to the head. Sharp said he hit two of the men with "blunt objects" and helped another man kill the two others.

Randy Lee Reeder, 51, South Bend, also is charged with four counts of murder. According to the plea agreement, Sharp has agreed to testify against Reeder. Reeder's trial is scheduled for July 12.

Bracepac contributed to 53 Democratic candidates and 50 Republicans in the 2006 election cycle, federal records show.

Some Republican insiders said the campaign contributions by Giuliani's firm will have no influence on the former New York City mayor's attempts to woo conservative and grassroots voters away from the other leading GOP presidential candidates, Arizona Sen. John McCain and former Massachusetts Gov. Mitt Romney.

"If the donations were in Rudy Giuliani's name, or his wife's name, that would be a problem," said Bill Whalen, a Hoover Institution research fellow and former speechwriter to Republican Gov. Pete Wilson. "But it's the reality of modern-day politics ... and under the larger category of doing business. He's a partner in a law firm that wants to do business on both sides of the street -- so you give to Republicans and Democrats."

Giuliani is among a group of 2008 presidential hopefuls who are in California this week for fundraising and public events including Democrats John Edwards of North Carolina, Sen. Hillary Rodham Clinton of New York, Sen. Barack Obama of Illinois and Republican McCain.

As the already busy presidential campaign gathers speed, the hopeful candidates are certain to face increasing scrutiny on their lives inside and outside of politics including issues such as the political contributions by the former mayor's law firm.

Giuliani already has faced questions about his income from the law firm, as a security consultant and as a public speaker, a field in which he reaped $11.3 million last year, federal records show.

The Houston Chronicle reported this month that Giuliani has been paid at least $1.2 million by Bracewell & Giuliani. Texas Lawyer reported that he also received $690,000 in partners' profits last year.

Scott Segal, a partner in Bracewell & Giuliani, said Tuesday in response to questions that the firm's "approach to government relations is bipartisan and bicameral."

Indeed, the firm's political donations are controlled entirely by its political committee. Insiders point out that Giuliani is not a member of that committee and makes no decisions related to its political contributions.

Maria Comella, a spokeswoman for Giuliani's campaign, said in an e-mail Tuesday that "the PAC is not representative of the mayor's beliefs," adding that "people donate to Mayor Giuliani based on their belief in his candidacy, not the other way around."

Bracewell & Giuliani has also been a high-profile lobbying firm, receiving nearly $6 million in lobbying fees last year with a client list that included the National Petrochemical and Refiners Association - which fought regulations to reduce greenhouse gases - and the Electric Reliability Coordinating Council, an industry group formed in part to fight pollution controls for coal-fired plants.

Giuliani's chief policy adviser, Bill Simon - a former Republican candidate for California governor - said he expects Giuliani will be subject to examination by the public in the campaign and believes voters will fairly judge the former mayor's experience and long record of public service.

"I think any presidential contest is going to involve a lot of scrutiny, and the mayor has been a very, very successful individual on a number of different activities," Simon said. Opponents and the media "will look hard at the mayor's record and occasionally distort it."

Russia's federal tax body could join a $22.5 billion lawsuit filed by Russian customs against the Bank of New York if a criminal case is launched against bank's representatives, a Tax Service spokesman said Tuesday.

The Federal Customs Service on May 17 accused the bank of laundering untaxed profits of Russian exporters in 1996-99 and said it had filed a damages lawsuit with the Moscow Arbitration Court.

"The Russian Federal Tax Service will get involved only if a criminal case is launched," the spokesman said.

Andrei Belyaninov, the head of the Federal Customs Service, said earlier he was optimistic about the prospects of his service's lawsuit against the bank, and saw no reason to give it up.

Experts doubt that customs authorities will recover the entire sum claimed, but lawyers acting for the service say their claim is legitimate, as the bank has admitted that $7.5 billion was laundered, and under U.S. law the plaintiff can demand compensation three times greater than the original loss.

The bank, which pleaded guilty to violating U.S. laws on control over financial flows in 2005 and was fined $38 million, dismissed the new claim.

New York Governor Eliot Spitzer, a former state attorney general who prosecuted some of the biggest firms in the United States, said on Tuesday that recent options trading ahead of takeovers was "deeply problematic."

In past months, announcements of proposed buyouts such as a $32 billion takeover of utility TXU Corp. (TXU.N: Quote, Profile, Research, Microsoft Corp.'s (MSFT.O: Quote, Profile, Research purchase of aQuantive Inc. (AQNT.O: Quote, Profile, Research and Rupert Murdoch's $5 billion offer for Dow Jones & Co. Inc. (DJ.N: Quote, Profile, Research, have been preceded by unusual spikes in options trading, raising questions about whether the news was leaked.

"Some smart prosecutor somewhere is going to be dropping a lot of subpoenas wanting to know who placed all these options purchased in the 48 to 72 hours before the deals were announced," Spitzer predicted in an interview on CNBC.

"There are a lot of people who should be very nervous about that," he said.

Authorities are already looking into some of these deals. Earlier in May, federal prosecutors in New York brought charges against a junior-level investment banker at Credit Suisse Group (CSGN.VX: Quote, Profile, Research, charging he divulged inside information on TXU and other yet-to-be-announced merger deals to a banker in Pakistan.

Also in May, the U.S. Securities and Exchange Commission filed a civil suit against a husband and wife in Hong Kong over trading in Dow Jones shares.

Options contracts give investors the ability to bet on a steep rise or decline in a stock price without having to put up the money to buy the actual shares.

As attorney general of New York, Spitzer made a name for himself by filing charges against famous individuals such as former American International Group Inc. (AIG.N: Quote, Profile, Research Chief Executive Maurice Greenberg.

He won a $10 billion settlement from the largest U.S. investment banks for biased research.

The trial is scheduled to start Monday before Superior Court Judge David DeAlba, who will decide the case without a jury.

Ford lost $12.7 billion last year, said Malcolm Wheeler, a Denver attorney who heads Ford's trial team. "This is a company that has had to lay off thousands of employees, a company struggling with a $3.5-billion negative net worth," Wheeler said.

Tab Turner - a Little Rock, Ark., lawyer who pioneered SUV rollover lawsuits - will be the plaintiffs' lead trial counsel in the Sacramento case. "This vehicle is one of the most dangerous vehicles ever produced in this country," said Turner, who first brought SUV rollover lawsuits involving the Ford Bronco II and Explorers.

Marketed as a replacement for family station wagons, the Explorers built in the 1990s have a tendency to flip over during evasive maneuvers at speeds over 40 mph, he said. Ford knew of the Explorer's problems but decided it was more profitable to produce the vehicle without changing its design, he said.

The class of plaintiffs includes California residents who bought, owned or leased a 1991-2001 model-year Ford Explorer, new or used, between 1990 and Aug. 9, 2000.

The plaintiffs' attorneys claim Ford's deception cost the state's car buyers about $500million because the value of their vehicles fell once the alleged defects became widely known. In addition, the plaintiffs are seeking a return of profits Ford earned from its alleged wrongdoing. According to the plaintiffs' lawyers, Ford reaped profits of $2.135 billion on sales in California from 1990 to 2000.

Ford lawyer Wheeler said it was the tires, not the Explorers, that were the problem and plaintiffs' lawyers were simply trying to extract millions more from Ford. He said the Explorer had been deemed safe by Consumer Reports magazine and the National Highway Traffic Safety Administration. Out of 32 Explorer product-liability cases that had gone to trial, Ford had won 26 of them, he said.

An unusual vote on an issue perceived by many to be intensely political has once again sparked controversy over who the District 209 Board of Education turns to for legal advice.

During its regular monthly meeting on May 21, the board voted to dump the law firm Odelson and Sterk, and instead, retain the services of Giglio and Del Galdo. Both firms have donated bundles of cash to campaign efforts by board President Chris Welch and Melrose Park Mayor Ron Serpico, a major backer of Welch and Welch's political ally, Cook County Recorder of Deeds Eugene Moore.

Aside from the tangled web of political connections, the method by which Giglio and Del Galdo was hired is causing rumblings, as well. When the motion to hire the firm was made, it failed in a tie vote with board Secretary Sue Henry abstaining. After moving on to other business and without holding any further public discussion on the issue, Welch announced that Henry and another board member had changed their vote, thus awarding the district's business to Giglio and Del Galdo.

The vote to dismiss the law firm of Odelson and Sterk was taken prior to deciding whether to retain Giglio and Del Galdo. Both Henry and school board newcomer Robin Foreman said they changed their votes after realizing the district was left without a law firm to represent its interests.

Henry, an employee of Moore's at the county office, didn't explain specifically why she initially abstained.

"I just felt pushed at the time the vote was going down," Henry said.

Robert Cox, a newly elected board member from Forest Park, voted to bring in the new legal firm largely out of fiscal concerns, he said. Based on information provided by the superintendent, Cox said he understood that Odelson and Sterk was attempting to bilk the district out of money.

"Basically, they were billing for services that weren't requested but were being handed down," Cox said.

Superintendent Stan Fields declined to comment on the bills received by Odelson and Sterk, but said that changing law firms was a "business decision" in an effort to get a better value.

"During my nine month tenure I came to the conclusion that the school district would be better served with a different general counsel," Fields said.

A phone call to a managing partner in the law firm, Burt Odelson, was not returned.

Dating back to 1999, Burt Odelson and his managing partner Mark Sterk, have donated more than $19,700 to Proviso's school board president and his political allies, according to campaign filing records maintained by the state.

District 209's Director of Auxiliary Programs Kyle Hastings has taken in more than $14,000 in campaign money from the firm, according to the same state records. Hastings is also the mayor of Orland Hills.

Though less prolific, the managing partners of Giglio and Del Galdo have also been generous with area politicos. Since 2002, Joseph Giglio and Michael Del Galdo have given $19,500 to Serpico's campaign efforts and $1,500 to Welch. Illinois campaign disclosure records indicate the firm has given no money to Moore, the county recorder of deeds.

Welch, the school board president, did not return several phone calls seeking comment.

A little more than one year ago, the District 209 board wrestled with this very proposal, though no vote was taken at the time. At that meeting in April of 2006, board members accused one another of playing politics. In 2006, board member Charles Flowers said he had reservations with both law firms.

"I was all for firing (Odelson and Sterk), but I certainly wasn't interested in bringing in more crooked people," Flowers said after last year's debacle.

At the May 21 board meeting, Flowers voted to dismiss Odelson and Sterk, and then voted against hiring Giglio and Del Galdo. After board members Foreman and Henry reversed their original votes on whether to hire the new firm, Flowers was joined only by Theresa Kelly in the minority.