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Briefing schedule ordered in Target class action
Class Action |
2010/09/16 08:43
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The parties in a slow-moving 2008 class action suit in St. Clair County against Target are moving forward again. A case management conference on sept. 8 saw the first action in the suit since last year. St. Clair County Circuit Judge Patrick Young signed an order giving the parties in the case 30 days to submit a briefing schedule to him on the issue of class certification in the suit led by led plaintiff Brian Buehlhorn. If the parties can't agree on that schedule, Young will take up the matter Oct. 20 at 9:30 a.m. Buehlhorn is leading one of several proposed class actions filed against Target and other retailers over the effectiveness of their immune system supplements. All of the suits were filed by the same team of attorneys including Paul Weiss of Chicago and Richard Burke of St. Louis. In his suit, Buehlhorn claims that Target's Immunity Supplement does not boost the immune system as claimed. While a class has yet to be certified in the case, the plaintiff successfully added claims from Minnesota, California and Florida last year. There were no filings in the case after October of last year until the Sept. 8 order. The suit seeks damages not to exceed $75,000 per individual class member. The defendant is represented by Robert Bassett and others. |
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Rigrodsky & Long, P.A. Announces Class Action Lawsuit
Class Action |
2010/09/16 08:41
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Rigrodsky & Long, P.A. announces that a class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of all persons or entities who purchased or otherwise acquired the common stock of SearchMedia Holdings Limited between April 1, 2009 and August 20, 2010, inclusive (the "Class Period"), seeking to pursue remedies under the Securities Exchange Act of 1934 (the "Complaint"). The Complaint names SearchMedia and certain of the Company's current and former executive officers and directors as defendants. Ideation was a blank check company organized under the laws of the State of Delaware on June 1, 2007, and formed for the purpose of acquiring, through a merger, capital stock exchange, asset acquisition or other similar business combination, one or more businesses. On April 1, 2009, the Company announced an agreement to purchase SearchMedia International Limited ("SMIL"), a purported nationwide multi-platform media company in China. On October 30, 2009, Ideation completed the acquisition of SMIL (the "Merger") and changed its name to SearchMedia. The Complaint alleges that during the Class Period, defendants made materially false and misleading statements, and/or omitted material facts, in the joint proxy statement and prospectus (the "Joint Proxy/Prospectus") disseminated regarding the Merger, as well as in other public statements issued during the Class Period related to the Merger and SMIL. Additionally, the Complaint alleges that throughout the Class Period, defendants failed to disclose material adverse facts about SearchMedia's business, operations, and prospects. Specifically, defendants made materially false and misleading statements and/or failed to disclose that: (1) SMIL was improperly recognizing revenue; (2) certain of SMIL's accounts receivable related to sales generated primarily in the in-elevator business were uncollectible, (3) SMIL's financial results during the Class Period were materially overstated; (4) SMIL's financial results were not prepared in accordance with Generally Accepted Accounting Principles ("GAAP"); (5) SMIL lacked adequate internal and financial controls; and (6) as a result of the above, SMIL's financial statements were materially false and misleading at all relevant times. On August 20, 2010, SearchMedia announced that the historical financial statements of SMIL for the 2007 and 2008 fiscal years would have to be restated and that the financial statements from these periods can no longer be relied upon. SearchMedia informed investors that it estimated that SMIL's revenue in 2007 and 2008 had been overstated by approximately $6 million and $25 million, respectively. As a result of this news, SearchMedia's stock plummeted almost 23% to close as $2.62 per share on August 20, 2010. The Company's stock continued its slide to close at $0.92 per share on August 23, 2010 or approximately another 35% down. If you wish to serve as lead plaintiff, you must move the Court no later than November 15, 2010. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Noah R. Wortman, Case Development Director of Rigrodsky & Long, P.A., 919 North Market Street, Suite 980 Wilmington, Delaware, 19801 at (888) 969-4242, by e-mail to info@rigrodskylong.com, or via our website: http://www.rigrodskylong.com/news/SearchMediaHoldingsLimited-IDI. 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. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the proposed 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. While Rigrodsky & Long, P.A. did not file the Complaint in this matter, the firm, with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States. Attorney advertising. Prior results do not guarantee a similar outcome. SOURCE: Rigrodsky & Long, P.A.
Rigrodsky & Long, P.A.
Timothy J. MacFall, Esquire
Noah R. Wortman, Case Development Director
888-969-4242
302-295-5310
Fax: 302-654-9430
info@rigrodskylong.com
http://www.rigrodskylong.com
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Izard Nobel LLP Announces Class Action Lawsuit Against TeleNav, Inc.
Class Action |
2010/09/12 13:43
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The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Northern District of California on behalf of purchasers of the common stock of TeleNav, Inc.pursuant to the Registration Statement and Prospectus issued in connection with its May 13, 2010 initial public offering ("IPO"). The Complaint charges that TeleNav and certain of its officers, directors and underwriters violated federal securities laws. Specifically, the Registration Statement and Prospectus (collectively, "Registration Statement") failed to disclose the following: (i) TeleNav would soon be renegotiating its contract to provide Sprint Nextel Corporation ("Sprint"), its largest customer, with its Sprint Navigation application, which would result in lower revenues; (ii) the unwillingness of Sprint to continue with the same contract terms beyond December 31, 2010 would have negative implications for TeleNav's other wireless relationships; and (iii) adverse changes to the Sprint relationship would cause TeleNav's results to trend adversely compared to the trends included in the Registration Statement. On July 29, 2010, TeleNav disclosed that it had started negotiations regarding contract roll-over with Sprint, and if successful, the contract roll-over would probably lead to an aggregate reduction in revenue from its largest customer. On this news, TeleNav's stock fell $3.47, to close at $5.44 per share on July 30, 2010. If you are a member of the class, you may, no later than November 1, 2010, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members. While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, and your rights, visit: www.izardnobel.com/telenav/, or contact Izard Nobel LLP toll-free: (800) 797-5499, or by e-mail: firm@izardnobel.com. For more information about class action cases in general, please visit our website: www.izardnobel.com. CONTACT:
Nancy A. Kulesa or Wayne Boulton
(800) 797-5499
www.izardnobel.comEmail Contact |
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Cohen Milstein Sellers & Toll PLLC Announces Class Action Lawsuit
Class Action |
2010/09/12 11:41
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Cohen Milstein Sellers & Toll PLLC announces that it has filed a class action lawsuit in the U.S. District Court for the Western District of Kentucky on behalf of all purchasers of the common stock of Almost Family, Inc. between August 5, 2008 and June 30, 2010, inclusive (the "Class Period). The Complaint alleges that Almost Family and certain of its officers and directors made false and misleading statements and/or omissions in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 regarding its financial results and compliance with applicable laws relating to Medicare reimbursement. As a direct result of Defendants' false statements, Almost Family's common stock traded at artificially inflated prices during the Class Period and dropped substantially after the truth was revealed. Plaintiff seeks to recover damages on behalf of all those who purchased shares of Almost Family common stock from August 5, 2008 through June 30, 2010. Cohen Milstein Sellers & Toll PLLC has significant experience in prosecuting investor class actions and actions involving securities fraud. The firm has offices in Washington, D.C., New York, Philadelphia, and Chicago, and is active in major litigation pending in federal and state courts throughout the nation. If you purchased the common stock of Almost Family from August 5, 2008 through June 30, 2010, you may move the court no later than 60 days after August 3, 2010, and request that the Court appoint you as lead plaintiff. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. To be appointed lead plaintiff, the Court must decide that your claim is typical of the claims of other class members, and that you will adequately represent the class. Your share in any recovery will not be enhanced or diminished by the decision whether or not to serve as a lead plaintiff. You may retain Cohen Milstein Sellers & Toll PLLC, or other attorneys, to serve as your counsel in this action. The firm's reputation for excellence has repeatedly been recognized by courts which have appointed the firm to lead positions in complex multi-district or consolidated litigation. Cohen Milstein Sellers & Toll PLLC has taken a lead role in numerous important cases on behalf of defrauded investors, and has been responsible for a number of outstanding recoveries which, in the aggregate, total in the billions of dollars. |
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Ryan & Maniskas, LLP Announces Class Action Lawsuit
Class Action |
2010/09/11 13:40
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Ryan & Maniskas, LLP (www.rmclasslaw.com/cases/ntrs) announces that a class action lawsuit has been filed in the United States District Court for the Northern District of Illinois on behalf of purchasers of Northern Trust Corporation common stock during the period between October 17, 2007 and October 20, 2009 (the "Class Period"). For more information regarding this class action suit, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at rmaniskas@rmclasslaw.com or visit: www.rmclasslaw.com/cases/ntrs. Northern Trust is a financial holding company that provides asset servicing, fund administration, investment management, banking and fiduciary solutions for corporations, institutions and affluent individuals worldwide. The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company's business and financial results and engaged in improper behavior that harmed Northern Trust's investors by failing to disclose the extent of its seriously delinquent commercial real estate loans and the true nature and risks associated with its once highly profitable securities lending program. As a result of defendants' false statements, Northern Trust's stock traded at artificially inflated prices during the Class Period. Additionally and as a result of this, Company insiders sold over 1.5 million shares of their Northern Trust stock for proceeds of over $106.5 million. Then, on October 21, 2009, before the market opened, Northern Trust reported its third quarter 2009 earnings results, announcing third quarter results that fell short of expectations due in part to a serious decline in the Company's securities lending program and to continuing pressure from its non-performing loans. On this news, Northern Trust's stock fell $3.29 per share to close at $54.16 per share on October 21, 2009. If you are a member of the class, you may, no later than October 25, 2010, 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.
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Statman, Harris & Eyrich, LLC Announces Class Action
Class Action |
2010/09/09 07:13
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The law firm of Statman, Harris & Eyrich, LLC, which has significant experience in class actions, announced today that a class action has been filed against Almost Family Inc. ("Almost Family" or the "Company") for potential violations of state and federal law. The class action was filed on behalf of purchasers of stock during the period of November 4, 2009 -- June 30, 2010 (the "Class Period"). Almost Family, together with its subsidiaries, provides home health services in the United States, operating through two segments, Visiting Nurse and Personal Care. The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company's operations and its business and financial results and outlook. Defendants misled investors by failing to disclose that: (i) the Company was deliberately increasing the number of unnecessary home therapy visits in order to receive increased Medicare reimbursements; and (ii) as a result of defendants' conduct, the Company's reported sales and earnings were materially inflated. As a direct result of defendants' false statements, Almost Family's common stock traded at artificially inflated prices during the Class Period, reaching a high of $43.96 per shares on April 29, 2010. On April 26, 2010, the Wall Street Journal ("WSJ") reported that certain home health providers intentionally increased the number of in-home therapy visits to patients to coincide with higher reimbursement rates through Medicare. According to the WSJ article, the percentage of Almost Family patients receiving 10 visits dropped by 39% from 2007 to 2008, when the 10 visit reimbursement bonus was eliminated from Medicare in January 2008. As a result of the WSJ article, the Company has come under intense scrutiny, including an inquiry by the United States Senate Finance Committee. On July 1, 2010, Almost Family announced that it had been notified that the Securities and Exchange Commission ("SEC") had launched a formal investigation of the Company. Almost Family also announced that it had received a subpoena from the SEC seeking documents related to the Company's "home health care services and operations, including reimbursements under the Medicare home health prospective payment system, since January 1, 2000." As a result of this negative news, Almost Family's common stock fell $3.88 per share or 11.11%, on July 1, 2010, on high volume. If you purchased shares of Almost Family during the Class Period, you have until October 4, 2010 to ask the Court to appoint you as lead plaintiff for the class. If you would like more information about your shareholder rights, contact attorneys Melinda Nenning or Elizabeth Hutton for further information without any obligation or cost to you at (513) 345-8181, Ext. 3095, or by email at mnenning@statmanharris.com or ehutton@statmanharris.com. Statman, Harris & Eyrich, LLC has offices in Chicago, Illinois; Cincinnati, Ohio; Dayton, Ohio; and Sarasota, Florida. www.statmanharris.com |
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The Shuman Law Firm Announces the Filing of a Class Action Lawsuit
Class Action |
2010/09/07 07:13
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The Shuman Law Firm today announced that a class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of purchasers of the common stock of CVB Financial Corporation between October 21, 2009 and August 9, 2010, inclusive (the "Class Period"). If you wish to discuss this action or have any questions concerning this notice or your rights and interests with respect to this matter, please contact Kip B. Shuman or Rusty E. Glenn toll free at (866) 974-8626 or email Mr. Shuman at kip@shumanlawfirm.com or Mr. Glenn at rusty@shumanlawfirm.com. The Complaint alleges that CVB and certain of its officers and directors violated federal securities laws by making a series of materially false and misleading statements. Specifically, the Complaint alleges that defendants had propped up the Company's results by manipulating CVB's accounting for costs and expenses by failing to properly account for impaired loans. On August 9, 2010, defendants disclosed that the Company was the subject of an investigation by the SEC into possible accounting violations related to the manner in which defendants accounted for troubled loans. This disclosure had an immediate impact on the price of Company shares, which fell 22% to close at $8.00 per share on August 10, 2010. If you purchased CVB common stock during the Class Period, you may request that the Court appoint you as lead plaintiff of the class no later than October 22, 2010. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members. The Shuman Law Firm represents investors throughout the nation, concentrating its practice in securities class actions and shareholder derivative actions.
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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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