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Morgan's wealth group settles bias suit
Class Action | 2007/04/26 08:58

Morgan Stanley's Global Wealth Management Group has announced it will pay at least $46 million to settle a class action filed by eight current and former female financial advisers and registered trainees. Under terms of the settlement announced yesterday, which is subject to the approval of the U.S. District Court in Washington, the New York-based firm will adopt new programs in such areas as account redistribution, training and management development designed to enhance the success of women financial advisers.

Also under the terms of the settlement, the firm will establish a process through which women financial advisers who believe they were historically disadvantaged because of their gender may submit monetary claims to a Special Master jointly appointed by the parties.

A $46 million pool has been established to pay such claims and related costs.

"We are firmly committed to the initiatives we will be undertaking to attract and retain women financial advisors and help them be as successful as possible, and pleased to resolve a legal matter stemming from the past. Our goal – across the organization – is to be the employer-of-choice for talented women," said Caroline Gundeck, head of the GWMG Office of Diversity.



Banks hit TJ Maxx owner with class-action lawsuit
Class Action | 2007/04/26 05:55

The Massachusetts Bankers Association said Tuesday it is filing a class action lawsuit against TJX Companies Inc. after thieves stole data from at least 45.7 million credit and debit cards used at the retailer's stores over 17 months.

The association said it will seek to recover damages in the tens of million of dollars.

The Connecticut Bankers Association, the Maine Association of Community Banks and individual banks will be co-plaintiffs, the association said.

The Massachusetts Bankers Association said it is filing the lawsuit to "protect customer privacy and data security for customer accounts."

The TJX data breach was discovered Dec. 18 and investigators have since been looking for evidence of who hacked into the store's electronic network. TJX uncovered the breach after seeing "suspicious software" on its computer systems. The theft is believed to be the biggest breach of customer records in the United States.

The association said there have been "dramatic costs" to financial institutions to protect consumers as a result. Banks had to re-issue debit cards to customers, which can cost up to $25 per card, the association said. Banks also typically cover any fraudulent charges by replacing money in customers' accounts.

"Protecting consumers is our number one priority," said Lindsey Pinkham, senior vice president of the Connecticut Bankers Association. "However, retail data breaches are getting larger and more frequent and we cannot continue to absorb the costs."

The association said the lawsuit also will seek to prove that TJX was responsible for "negligent misrepresentation," since it said it was safeguarding and disposing of cardholder data.

TJX said it could not comment on pending litigation.



Firms face class action suit over tainted pet food
Class Action | 2007/04/25 08:59
A Boston law firm filed a class action lawsuit against Menu Foods Holdings Inc., Iams Co., Nutro Products Inc., and other firms for supplying contaminated pet food that spawned an outbreak of pet illnesses and deaths. The lawsuit alleges some deaths could have been avoided had the companies alerted consumers sooner. Wayne, Richard & Hurwitz LLP filed its suit in US District Court in Massachusetts on behalf of two women whose cats suffered renal or kidney failure after eating the contaminated food. The food contained wheat gluten with melamine, an industrial chemical not approved for use in pet food.


Microsoft to pay up to $180 million to settle Iowa suit
Class Action | 2007/04/18 13:19

Microsoft Corp. agreed Wednesday to pay Iowans up to $180 million to settle a class-action lawsuit that claimed the company had a monopoly that cost the state's citizens millions of dollars extra for software products.

The $179.95 million settlement means individuals in Iowa who bought certain Microsoft products separately or preinstalled on computers between May 18, 1994, and June 30, 2006, will be eligible for cash. Government agencies and companies with multiple copies purchased between July 1, 2002, and June 30, 2006, can seek vouchers that will enable them to buy computer equipment and software. The amount that can be claimed will depend on which product and how many copies were purchased.

For each copy of Microsoft Windows or MS-DOS, customers can claim $16. Microsoft Excel is worth $25 a copy and Microsoft Office, $29 a copy.

For Word, Works and Home Essential software, consumers can claim $10 a copy, according to the agreement.

No proof of purchase will be required for online claims of up to $100 or for mail claims of up to $200. Claimants will be required to sign a legal document saying their claim is accurate. Lying can bring a charge of perjury.

Notification will be sent to the estimated 1 million class members on April 25, the date when they can begin claiming money. The claim period ends Dec. 14.



Pet Food Recall Results in Class Action Lawsuit
Class Action | 2007/04/15 03:45

A Reno woman has filed a federal lawsuit against the manufacturer of recalled pet food. She claimsIams brand food killed her 20-year-old cat, "Patches."

Marion Streczyn seeks unspecified damages from Ontario, Canada-based Menu Foods in the suit filed last week in U.S. District Court in Reno. A Menu Foods spokesman says the company has no comment.

The company, which makes "cuts and gravy style" dog and cat food sold under nearly 100 store labels and major brands, recalled 60 million containers in mid-March after cats fell sick and died during routine company taste tests.

The recall has since expanded to include earlier dates and other brands, and at least six pet food companies have recalled products made with imported Chinese wheat gluten tainted with an industrial chemical.

Streczyn's attorney Brian O'Mara says the suit joins a growing number of others filed around the country against the pet food maker and is believed to be the first in Nevada.

It raises claims of negligence, product liability and breach of implied and express warranty. It further argues that the company received "unjust enrichment" by selling the tainted pet food.

Recent FDA tests found a toxic chemical in some menu products were related to at least 16 pet deaths around the country.

The O'Mara law firm is looking for pet owners affected by the dangerous pet food to join the lawsuit.



Federal Court dismisses Vioxx lawsuit against Merck
Class Action | 2007/04/13 20:15

A New Jersey federal judge dismissed a class action brought by investors of Merck & Co. Thursday, ruling that the suit was filed after the statute of limitations had run. The investors had said that Merck had deliberately concealed information from them about the safety record of its arthritis drug Vioxx. US District Court Judge Stanley Chester determined that the clock on the two-year statute of limitations started to run in September 2001 with the release of a warning letter from the Food and Drug Administration, coupled with subsequent attention from financial analysts and members of the press. The first fraud complaint against the company was filed in November of 2003. Since the lawsuit was dismissed with prejudice, it may not be filed again.

Merck pulled Vioxx from the market in September 2004 after a study showed that it could double the risk of heart attack or stroke if taken for more than 18 months. The price of Merck stock jumped by almost 10% following news of the class action dismissal.



Law firm to start $25m class action against AWB
Class Action | 2007/04/13 13:45

A number of disgruntled current and former shareholders of AWB Ltd are suing the wheat exporter for $25 million over its role in the Iraqi oil-for-food scandal.

Law firm Maurice Blackburn Cashman said today that it would begin a shareholder class action against AWB in the Federal Court.

AWB said the proposed class action was "ill-conceived".

"If the proceedings are issued, they will be vigorously defended," AWB said.

The managing principal of the Maurice Blackburn Cashman's NSW branch, Ben Slade, said the firm was acting for an unspecified number of institutional and retail investors in AWB who were claiming they lost money because AWB failed to inform the stock market of its activities in Iraq.

"We've been instructed by a number of victims of AWB's wrongful conduct seeking compensation for the losses that they've suffered as a result of that wrongful conduct," Mr Slade said.

Mr Slade said it was alleged AWB had failed to continuously disclose to the marketplace material facts that could reasonably be expected to affect the company's share price.

He said it was claimed that AWB should have revealed it was involved in taking steps that caused Australia to be in breach of United Nations sanctions under the oil-for-food program and by one means or another was getting money from a UN account to make payments to Iraq in breach of the program.

"That is a material fact that the sharemarket should have been told, and had they been told the share price of AWB shares would have been lower than it was," Mr Slade said.

"There are certain groups that wouldn't have bought any AWB shares at all, and there are others who would have bought at a materially lower price."

Mr Slade said the claimants estimated direct losses at about $25 million and there was also the possibility of claims for opportunity loss.

Australia's single desk wheat exports system is set for overhaul after AWB was found to have paid $290 million in kickbacks to Iraq between 1999 and 2003 under the UN's corruption-ridden oil-for-food program.

The Cole inquiry into AWB's kickbacks, which reported in November 2006, recommended 11 former executives face further investigation for possible breaches of criminal and corporations law.



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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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