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Glancy Binkow & Goldberg LLP Announces Class Action
Class Action |
2012/05/08 11:17
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Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been filed in the United States District Court for the Northern District of Illinois on behalf of all persons or entities who purchased or otherwise acquired the common stock of Groupon, Inc. pursuant and/or traceable to the allegedly false and misleading Registration Statement and Prospectus issued in connection with Groupon’s November 4, 2011 initial public offering, including purchasers of Groupon common stock between February 8, 2012 and March 30, 2012.
Groupon operates an e-commerce marketplace that connects merchants to consumers by offering goods and services at a discount in North America and internationally. The Complaint alleges that defendants misrepresented or failed to disclose that: (a) the Company materially understated refund reserves for fourth quarter 2011 due to a failure to properly account for coupon refunds; (b) as a result, the Company materially misstated its previously reported fourth-quarter and full-year 2011 financial results; and (c), the Company lacked adequate internal and financial controls.
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. If you purchased Groupon common stock pursuant or traceable to the Company’s November 4, 2011 initial public offering, and/or during the Class Period described above, you have certain rights, and have until June 4, 2012 to move for lead plaintiff status. To be a member of the class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent class member.
www.glancylaw.com
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Law Offices of Howard G. Smith Announces Class Action Lawsuit
Class Action |
2012/03/19 09:48
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Law Offices of Howard G. Smith announces that a class action lawsuit has been filed in the United States District Court for the District of Arizona on behalf of all persons or entities who purchased the securities of First Solar Inc. between April 30, 2008 and February 28, 2012, inclusive (the “Class Period”), seeking to pursue remedies under the Securities Exchange Act of 1934.
First Solar engages in the design, manufacture and sale of thin-film semiconductor solar modules and photovoltaic solar power systems in the United States and internationally. The Complaint alleges that defendants issued false and misleading statements and/or failed to disclose material adverse facts about the Company's business, operations and prospects. Specifically, Defendants misrepresented or failed to disclose: (1) the full impact of certain solar module manufacturing flaws on the Company’s earnings; (2) that the Company was improperly recognizing revenue concerning certain products in its systems business; (3) that the Company lacked adequate internal and financial controls; and (4), as a result of the foregoing, that the Company's statements were materially false and misleading at all relevant times.
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. If you purchased First Solar securities between March 31, 2011 and February 6, 2012, you have certain rights, and have until May 14, 2012 to move for lead plaintiff status. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.
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Glancy Binkow & Goldberg LLP Announces Class Action
Class Action |
2012/03/15 09:14
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Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities who purchased the common stock of Nevsun Resources Ltd. between March 31, 2011 and February 6, 2012, inclusive, seeking to pursue remedies under the Securities Exchange Act of 1934. Nevsun, together with its subsidiaries, engages in the acquisition, exploration, development and production of mineral properties, including the Bisha Property, a gold, copper, silver and zinc mine in Eritrea, Africa.
The Complaint alleges that defendants issued materially false and misleading statements and failed to disclose that: (i) Nevsun’s mining activities at the Bisha mine produced a material amount of waste rock, rather than gold ore; (ii) the amounts of gold and gold ore recovered from the Bisha mine were materially less than estimated by the Company's reserve estimate, a situation which defendants knew or had reason to know based on data routinely collected throughout the Class Period from the Bisha mine; (iii) Nevsun was progressing through the ore body at the Bisha mine much more quickly than planned, in order to maintain gold production at a rate that would not reveal to investors that the amount of gold was materially less than the Company’s estimate; (iv) the Company was aware that its resource model was materially defective because the actual amounts of gold mined at Bisha did not reconcile with the Company's reserve estimate previously disseminated to the investing public; and (v), Nevsun materially overstated its gold reserves at the Bisha mine.
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. If you purchased Nevsun common stock between March 31, 2011 and February 6, 2012, you have certain rights, and have 60 days from March 13, 2012 to move for lead plaintiff status. To be a member of the class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent class member.
www.glancylaw.com.
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Glancy Binkow & Goldberg LLP Announces Class Action
Class Action |
2012/03/12 10:00
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Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been filed in the United States District Court, Northern District of Alabama, on behalf of purchasers of the common stock of Walter Energy, Inc. between April 20, 2011 and September 21, 2011, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934. Walter Energy produces and exports metallurgical coal for electric utility and industrial customers in the United States.
The Complaint alleges that defendants misrepresented or failed to disclose material adverse facts about the Company’s business and financial prospects, including that: (1) the Company was experiencing so-called “squeeze” events in Alabama and lower coal transportation rates in Canada that significantly reduced the Company’s coal production; (2) the Company’s commitment to ship more than 700,000 tons of coal in the second quarter, at first quarter sales prices, would result in a material adverse effect on Walter Energy’s second-quarter average sales prices and operating results; (3) the Company was experiencing a significant decline in its margins and profitability; and (4), based on the foregoing, defendants lacked a reasonable basis for their positive statements about the Company’s business and financial prospects during the Class Period.
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. If you purchased Walter Energy common stock between April 20, 2011 and September 21, 2011, you have certain rights, and have until March 26, 2012 to move for lead plaintiff status.
www.glancylaw.com
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Brower Piven Announces Summary Notice of Proposed Settlement of Class Action
Class Action |
2012/03/09 09:35
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SUMMARY NOTICE OF PROPOSED SETTLEMENT OF CLASS ACTION
All Persons and Entities Who Purchased Inyx, Inc. Common Stock Between April 1, 2005 and July 2, 2007, Inclusive.
This Summary Notice is given pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Southern District of New York (the "Court"), dated February 9, 2012. The purpose of this Summary Notice is to inform you of the proposed settlement of the above-entitled class action (the "Action") against defendants Inyx, Inc., Jack Kachkar, Rima Goldshmidt, and Jay M. Green.
A Settlement Hearing will be held before the Hon. P. Kevin Castel, United States District Judge, at the Daniel Patrick Moynihan U.S. Courthouse, 500 Pearl Street New York, NY 10007, at 11:30 a.m. on May, 4, 2012 in order: (1) to determine whether the Settlement consisting of no less than $600,000.00 (US) and no more than $1,100,000 (US) in cash should be approved as fair, reasonable, and adequate to the Class and the proposed Judgment entered; (2) to determine whether the proposed Plan of Allocation for the proceeds of the settlement is fair and reasonable, and should be approved by the Court; (3) to determine whether any applications for attorneys' fees not to exceed 35% of the settlement Fund and reimbursement of litigation expenses not to exceed $110,000.00 (US) to Class Counsel should be approved; and (5) to rule upon such other matters as the Court may deem appropriate.
If you purchased the common stock of Inyx, Inc. between April 1, 2005 and July 2, 2007, inclusive, and are not otherwise excluded from the Class, you are a Class Member. Class Members will be bound by the final Judgment of the Court. If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim postmarked no later than June 8, 2012, establishing that you are entitled to recovery. If you are a Class Member and need a Proof of Claim, copies may be obtained by telephoning the Claims Administrator at (800) 231-1815 or by downloading the form on the Internet at www.gcginc.com.
If you do not wish to be included in the Class and you do not wish to participate in the proposed Settlement, you may request to be excluded in the manner set forth in the full Notice of Proposed Settlement of Class Action ("Notice"), no later than April 9, 2012. If you are a Class Member, and you do not request exclusion from the Class, you may make written objection(s) to the Settlement, the Plan of Allocation or Class Counsel's request for an award of attorneys' fees and reimbursement of expenses by following the procedures set forth in the Notice. If you make a written objection, you also may appear at the Settlement Hearing. You must file and serve your written objection, in the manner specifically set forth in the Notice, no later than April 9, 2012.
This is only a summary notice. The full Notice of Proposed Settlement of Class Action may be accessed at: www.gcginc.com.
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Ryan & Maniskas, LLP Announces Class Action Lawsuit
Class Action |
2012/03/06 09:37
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Ryan & Maniskas, LLP announces that a class action lawsuit has been filed in United States District Court for the District of Colorado on behalf of purchasers of Molycorp, Inc. common stock during the period between March 9, 2011 and November 10, 2011.
For more information regarding this class action suit, please contact Ryan & Maniskas, LLP toll-free at (877) 316-3218 or by email at rmaniskas@rmclasslaw.com or visit: www.rmclasslaw.com/cases/mcp.
The complaint alleges that defendants’ false and misleading statements about the capability of the Company’s “Mountain Pass” mining operation and the Company’s earnings caused Molycorp common stock to trade at artificially inflated prices throughout the Class Period. Specifically, defendants misrepresented and/or failed to disclose the following adverse facts during the Class Period: (a) Molycorp’s development and expansion of the Mountain Pass mine was not progressing on schedule and would not allow the Company to reach rare earth oxide production rates at the end of calendar 2012 and 2013; and (b) end users had been reducing demand for the Company’s products as prices for rare earth elements increased.
On November 10, 2011, the Company reported disappointing third quarter 2011 revenues and earnings results below analysts’ estimates and announced a reduction in Mountain Pass production guidance for the fourth quarter of 2011 due to expected equipment downtime relating to Mountain Pass engineering and expansion issues. The Company’s stock price fell, dropping from $38.70 per share on November 10, 2011 to $33.45 per share on November 11, 2011, or 13.6%, on heavy trading volume.
If you are a member of the class, you may, no later than April 3, 2012, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Ryan & Maniskas, LLP or other counsel of your choice, to serve as your counsel in this action.
www.rmclasslaw.com.
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Glancy Binkow & Goldberg LLP Announces Class Action
Class Action |
2012/03/02 10:19
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Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York, on behalf of purchasers of CNOOC Limited American Depositary Shares between January 27, 2011 and September 16, 2011, inclusive, seeking to pursue remedies under the Securities Exchange Act of 1934. CNOOC, through its subsidiaries, engages in the exploration, development, production and sale of crude oil, natural gas and other petroleum products. The Company owns oil and natural gas properties in Asia, Oceania, Africa, the Americas and offshore China – including the Penglai 19-3 (“PL19-3”) oilfield situated in northern China’s Bohai Bay.
The Complaint alleges that defendants misrepresented or failed to disclose material adverse facts about the Company’s business and financial results, including that: (i) the Company was not in compliance with environmental laws and regulations; (ii) the Company concealed the extent and severity of oil spills that occurred at the PL19-3 oilfield in June 2011; (iii) as news of the oil spills emerged, the Company downplayed its responsibility to effect the cleanup of the oil spills, portrayed itself as being the “non-operator” of the oilfield and, moreover, hindered the cleanup by requiring the operator of the oilfield to use a CNOOC-affiliated company for the cleanup; (iv) the Company improperly accounted for its contingent liabilities in violation of Generally Accepted Accounting Principles (“GAAP”); and (v), based on the foregoing, defendants lacked a reasonable basis for their positive statements about the Company’s operations and its expected oil production.
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. If you purchased the ADSs of CNOOC between January 27, 2011 and September 16, 2011, you have certain rights, and have until April 29, 2012 to move for lead plaintiff status. To be a member of the class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent class member.
www.glancylaw.com
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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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