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Glancy Binkow & Goldberg LLP Has Filed a Class Action
Class Action |
2011/12/26 16:24
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Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of investors who purchased common stock of Keyuan Petrochemicals, Inc. between August 16, 2010 and October 7, 2011, inclusive alleging violations of the Securities and Exchange Act of 1934.
The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material misrepresentations to the market which had the effect of artificially inflating the market price of Keyuan’s common stock.
If you suffered a loss in Keyuan you have until January 17, 2012 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To be a member of the class you need not take action at this time; you may retain counsel of your choice or take no action and remain an absent class member. 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 Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, by telephone at (310) 201-9150, Toll Free at (888) 773-9224, by e-mail to shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com.
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Pomerantz Law Firm Has Filed a Class Action
Class Action |
2011/12/19 11:23
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Shareholders of Pain Therapeutics, Inc. are reminded of the securities class action lawsuit filed against Pain Therapeutics and certain of its officers. The class action (1-11-CV-1034), filed in the United States District Court, Western District of Texas, is on behalf of a class consisting of all persons or entities who purchased PTIE securities during the period from February 3, 2011 through June 23, 2011 (the "Class Period"). This class action is brought under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, 15 U.S.C. Sections 78j(b) and 78t(a); and SEC Rule 10b-5 promulgated thereunder by the SEC, 17 C.F.R. Section 240.10b-5.
If you are a shareholder who purchased PTIE securities during the Class Period, you have until January 31, 2012 to ask the Court to appoint you as lead plaintiff for the class. A copy of the complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Rachelle R. Boyle at rrboyle@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll free, x350. Those who inquire by e-mail are encouraged to include their mailing address and telephone number.
The Complaint alleges that, during the Class Period, PTIE made false and/or misleading statements and/or failed to disclose material facts about a new drug, REMOXY. Specifically, PTIE failed to disclose that REMOXY was not approvable by the U.S. Food and Drug Administration due to chemistry, manufacturing, and control deficiencies that caused inconsistent results during laboratory tests. |
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Lieff Cabraser Heimann & Bernstein, LLP Announces Class Action
Class Action |
2011/12/16 09:33
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The law firm of Lieff Cabraser Heimann & Bernstein, LLP announces that class action lawsuits have been brought on behalf of purchasers of the common stock of The Cooper Companies, Inc. between March 4, 2011 and November 15, 2011, inclusive.
If you purchased the common stock of Cooper during the Class Period, you may move the Court for appointment as lead plaintiff by no later than January 27, 2012. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the action will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the action.
Cooper shareholders who wish to learn more about the action and how to seek appointment as lead plaintiff should click here or contact Sharon Lee of Lieff Cabraser toll free at (800) 541-7358.
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Washington Mutual agrees to settlement
Class Action |
2011/12/13 10:42
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Bank holding company Washington Mutual Inc. has agreed to a settlement with some creditors involved in its Chapter 11 bankruptcy case and has filed a new reorganization plan.
Washington Mutual said in a statement late Monday that the settlement will allow it to distribute more than $7 billion to its creditors. The settlement must still be approved by the U.S. Bankruptcy Court for the District of Delaware.
"The comprehensive settlement announced today represents a fair and reasonable recovery for the thousands of equity holders of the company who have been following this case closely for three years," Michael Willingham, chairman of the committee of equity security holders appointed in the company's Chapter 11 proceedings.
Washington Mutual's bankruptcy case is three years old and its reorganization plans have twice been rejected by Bankruptcy Court Judge Mary Walrath. The company is hoping to exit bankruptcy protection by the end of February. It has a hearing scheduled for Jan. 11, 2012 in which the bankruptcy court will consider approval of the reorganization plan's disclosure statement. The company also plans to ask the bankruptcy court for a mid-February hearing to confirm its reorganization plan. |
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Saxena White P.A. Files a Securities Fraud Class Action
Class Action |
2011/12/12 11:02
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Saxena White P.A. announces that it has filed a class action lawsuit in the United States District Court for the Northern District of Illinois on behalf of investors who purchased Hospira, Inc. common stock on the New York Stock Exchange between March 24, 2009, and October 17, 2011, inclusive.
The complaint charges Hospira and certain of its officers and executives with violations of the Exchange Act. Hospira is a global specialty pharmaceutical and medication delivery company.
The complaint alleges that throughout the Class Period, defendants issued materially false and misleading statements regarding the Company's business and financial results. Specifically, defendants failed to disclose that: (i) Hospira suffered from extensive quality control issues throughout the Class Period, which undermined both the viability of and the supposed financial savings that would be generated by Project Fuel, a Company program designed to optimize Hospira's operations and increase shareholder value; (ii) Hospira was unable to remedy problems identified in FDA Warning Letters related to Hospira's infusion pumps, quality control deficiencies, and manufacturing weaknesses; (iii) Hospira's revenue guidance for 2010 and 2011 was misstated and lacked a reasonable basis when made; and (iv) as a result of the foregoing, defendants' statements regarding the Company's financial performance and expected earnings were false and misleading and lacked a reasonable basis when made.
On October 18, 2011, the Company announced disappointing preliminary third quarter financial results and slashed full-year guidance, pointing to a production disruption at its Rocky Mount, North Carolina manufacturing plant, which accounted for approximately 25% of the Company's sales. The Company attributed the production slowdown to the impact of an ongoing FDA investigation.
The result of the Company's negative results was a 21% drop in the price of Hospira common stock, which fell $7.85 per share to close at $29.51 per share on October 18, 2011.
You may obtain a copy of the complaint and join the class action at www.saxenawhite.com. If you purchased the shares of Hospira, Inc. between the period of March 24, 2009, and October 17, 2011, inclusive, you may contact Joe White or Greg Stone at Saxena White P.A. to discuss your rights and interests.
If you purchased Hospira, Inc. shares during the Class Period of March 24, 2009, and October 17, 2011, inclusive, and wish to apply to be the lead plaintiff in this action, a motion on your behalf must be filed with the Court no later than January 20, 2012. You may contact Saxena White P.A. to discuss your rights regarding the appointment of lead plaintiff and your interest in the class action. Please note that you may also retain counsel of your choice and need not take any action at this time to be a class member.
Saxena White P.A., which has offices in Boca Raton, Boston and Montana, specializes in prosecuting securities fraud and complex class actions on behalf of institutions and individuals. Currently serving as lead counsel in numerous securities fraud class actions nationwide, the firm has recovered hundreds of millions of dollars on behalf of injured investors and is active in major litigation pending in federal and state courts throughout the United States.
Contact: www.saxenawhite.com
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Farmers Insurance Settles Class Action Lawsuit
Class Action |
2011/12/01 10:21
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Farmers Insurance entered into a settlement of a nationwide class action lawsuit, In Re Farmers Med-Pay Litigation, pending in the District Court of Canadian County, Oklahoma. The settlement includes Farmers Insurance Company, Inc., Farmers Insurance Exchange, Truck Insurance Exchange, Fire Insurance Exchange, Mid-Century Insurance Company, Farmers Group, Inc., Illinois Farmers Insurance Company, and certain related entities. The Court entered a final order approving the settlement on November 29, 2011.
Plaintiffs alleged that Farmers failed to pay reasonable expenses for necessary medical services related to automobile accidents under Medical Payments and Personal Injury Protection ("PIP") coverage in automobile policies based on Farmers' use of certain claim adjustment systems and procedures. Farmers denies all of Plaintiffs' claims in the lawsuit. However, Farmers agreed to resolve the lawsuit to avoid the burden and expense of continued litigation.
The Settlement Class includes all persons who submitted claims for payment of medical bills related to an automobile accident under Med-pay or PIP coverage if (a) the claim was adjusted from January 1, 2001 to February 9, 2009 based upon a recommended reduction from Zurich Services Corporation ("ZSC"), (b) the claim was paid at less than the amount billed, and (c) total Med-pay or PIP payments were less than the respective limits of coverage. The Class also includes medical providers who were assigned the right to assert these claims.
Those affected by this settlement must complete and submit a valid claim form postmarked no later than December 29, 2011. Further information and claim forms can be obtained by visiting www.MedpayClaimsAdministration.com.
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Scott+Scott LLP Announces Securities Class Action
Class Action |
2011/11/29 09:48
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On November 28, 2011, Scott+Scott LLP filed a class action complaint against The Cooper Companies, Inc. and certain of the Company's senior officers and directors in the U.S. District Court for the Northern District of California. The action for violations of the Securities Exchange Act of 1934 is brought on behalf of those purchasing the common stock of Cooper between March 4, 2011 and November 15, 2011, inclusive.
If you purchased the common stock of Cooper during the Class Period and wish to serve as a lead plaintiff in the action, you must move the Court no later than 60 days from today. Any member of the investor class may move the Court to serve as lead plaintiff through counsel of its choice, or may choose to do nothing and remain an absent class member. If you wish to discuss this action or have questions concerning this notice or your rights, please contact Scott+Scott at (800) 404-7770, (860) 537-5537 or visit the Scott+Scott website http://www.scott-scott.com/cases/coopercos.html for more information. There is no cost or fee to you.
The complaint filed in the action alleges that, during the Class Period, Cooper issued false and misleading statements concealing known quality control problems and process defects at the Company's new overseas contact lens manufacturing facilities.
The complaint alleges that following the announcement of a small voluntary recall, the significance of which Cooper and its senior executives intentionally downplayed, on November 15, 2011, Cooper was forced to disclose a much larger product recall and to finally disclose the seriousness of the potential injuries. As the market learned the true extent of the Company's production issues, product safety defects and the harm to Cooper's reputation and product marketability, the Company's stock price declined precipitously. The class action seeks recovery under the federal securities laws for those who purchased Cooper's common stock between March 4, 2011 and November 15, 2011.
Scott+Scott has significant experience in prosecuting major securities, antitrust and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals and other entities worldwide. |
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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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