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Federman & Sherwood Files Securities Class Action
Class Action |
2007/06/08 03:49
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Thursday after the bell, Federman & Sherwood announced that On June 1, 2007, a class action lawsuit was filed in the United States District Court for the District of Nevada against Shuffle Master Inc. The complaint alleged violations of federal securities laws, including allegations of issuing a series of material misrepresentations to the market which had the effect of artificially inflating the market price. The class period is from December 22, 2006 through March 12, 2007. SHFL closed Thursday's regular trading session at $17.51, down $2.10 or 10.71%. During the extended session, stock further tumbled $0.16 or 0.91% and was at $17.35.
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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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