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JDSU Wins Class Action Jury Verdict
Class Action |
2007/11/27 08:02
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| JDSU today announced that a jury has ruled in favor of the Company on all claims in a securities class action lawsuit filed by Connecticut Retirement Plans and Trust Funds against the Company in the United States District Court for the Northern District of California, Oakland, California. "We are extremely gratified by the jury's verdict, as we have always believed that the plaintiffs' claims were without merit," said Kevin Kennedy, JDSU's President and Chief Executive Officer. "We will continue focusing our full attention on developing innovative products and delivering on the significant potential of our business model to create shareholder value." The Company noted that while the jury's decision in this case is a significant positive milestone, it continues to defend itself in the securities class action and related litigation. |
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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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