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The Law Firm of Levi & Korsinsky Notifies Investors
Legal Marketing |
2011/09/21 13:36
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Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of Texas Dallas Division on behalf of purchasers of Penson Worldwide, Inc. common stock from February 20, 2011 through August 4, 2011.
Prior to and during the Class Period, Penson derived a material part of its revenue and income from interest it received on margin loans to customers for which its customers pledged collateral in return for such loans.
The complaint alleges that during the class period, defendants issued materially false and misleading statements regarding and concealed from investors that, by at least the end of 2010, a) the Company had approximately $96-97 million in receivables ("Nonaccrual Receivables") of which approximately $43 million were collateralized by illiquid securities and therefore unlikely to be collected; b) the Company's Nonaccrual Receivables were materially overstated and should have been written down at least by the end of 2010; c) as a result, the Company's reported income and EBITDA were materially overstated; and d) the Company's financial statements were not prepared in accordance with generally accepted accounting principles (GAAP).
If you are a member of the class and suffered a loss in Penson stock, you have until October 24, 2011 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery is not affected by the decision whether or not to serve as a lead plaintiff. To obtain additional information about your rights, contact Joseph Levi, Esq. either via email at jlevi@zlk.com or by telephone at (877) 363-5972, or visit http://www.zlk.com/penson-worldwide-pnsn.html.
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
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Class Action Filed Against Former, Current A&P Execs
Legal Marketing |
2011/09/19 23:37
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A class action has been filed in the U.S. District Court for the District of New Jersey on behalf of purchasers of the securities of the Great Atlantic & Pacific Tea Co. Inc. (A&P) for the period between July 23, 2009, and Dec. 10, 2010. The complaint, filed Sept. 9 by Robbins Geller Rudman & Dowd LLP, a 180-lawyer firm with offices in San Diego, San Francisco, New York, Boca Raton, Washington, Philadelphia and Atlanta, claims that some former and current A&P executives violated the Securities Exchange Act of 1934. A&P itself wasn’t named as a defendant in the action because it filed for bankruptcy protection in December 2010.
Those named in the action are former Executive Chairman and CEO Christian Haub, former CEO and President Eric Claus, former CFO and Treasurer Brenda Galgano, Vice Chairman and Chief Strategy Officer Andreas Guldin, former CEO and President Ron Marshall, and current CEO and President Sam Martin.
The complaint alleges that during the period mentioned above, the defendants failed to disclose material adverse facts about the company’s true financial condition, business and prospects. Specifically, the class action alleges that the executives failed to reveal that A&P was facing increased low-cost competition from retailers such as Walmart and Target, which negatively affected its business and financial condition; that the Pathmark acquisition was a “complete disaster” for the company, as Pathmark’s operations were in far worse condition than had been represented to investors; that A&P wasn’t operating according to internal expectations and couldn’t achieve the guidance endorsed by the defendants; and that, as a result of these factors, the defendants lacked a reasonable basis for their positive statements about the company, its operations and prospects.
The class action seeks to recover damages on behalf of all purchasers of A&P securities during the period noted above. Those who are member of this class can view a copy of the complaint or join the class action online at www.rgrdlaw.com/cases/aandp
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"Killing Time" An 18 Year Odyssey from Death Row to Freedom
Legal Marketing |
2011/05/25 13:10
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According to Harry Connick Sr, the former New Orleans District Attorney for 30 years, Angola's death row isn't such a bad place for an innocent man to spend 14 years, according to the New Orleans DA's office. Connick stated that John Thompson did not deserve the $14 million a jury awarded him, because nobody raped him and he got to play chess and watch TV. He wasn't denied medical treatment and made several pals in prison, prosecutors argued in an appeal brief. Our question to former DA Connick....How much would it have been worth it to you if you had spent the last 14 years of your life for a crime you were "FRAMED By" The New Orleans District Attorney's Office?
Thompson was railroaded in 1983, when Harry Connick was DA. In 2007, Thompson, who was wrongfully convicted of murder by Connick's DA office due to evidence withholding, was awarded a $14 million verdict by a federal court jury.
The jury found "that Thompson's 18 years behind bars (14 of which he spent in solitary confinement on death row) were caused by Connick's deliberate failure to train his prosecutors on their obligations to turn over exculpatory evidence"
"Killing Time-an 18 Year Odyssey from Death Row to Freedom" is a sobering look at our justice system, told with journalistic precision by our Guest John Hollway and his writing partner Ronald Gauthier. Told in careful timeline fashion, it details the story of John Thompson, an African American who was, in 1984, wrongfully convicted of the brutal murder of a New Orleans Hotelier, and sent, under a death sentence to Angola Prison to await execution. Thompson adamantly and unceasingly proclaimed his innocence. After Philadelphia lawyers Michael Banks and Gordon Cooney take on his case, they struggle to find areas of misconduct in his previous trials while grappling with their questions about Thompson's innocence. John Hollway and Ronald M. Gauthier have interviewed Thompson and the lawyers, and paint a realistic and compelling portrait of life on death row and the corruption in the Louisiana police and DA's office.
John Thompson, having been exonerated and freed thanks to the work of Attorneys Banks and Cooney is now deeply involved in the organization Resurrection After Exoneration or REA. He, once again, lives in Louisiana.
The Orleans Parish DA's office appealed and the case, Connick v. Thompson, was orally argued before the U.S. Supreme Court during the October 2010 term. By a 5-4 vote split along ideological lines,[6] the Supreme Court overturned the $14 million award in a decision issued on March 29, 2011.
The majority opinion by Justice Clarence Thomas construed the series of admitted violations to not amount to a pattern of similar violations of Brady v. Maryland (1963), and such a pattern was necessary to hold Connick liable for the incompetence of his employees.
The dissenting opinion, read from the bench by Justice Ruth Bader Ginsburg, noted that Connick's office had in fact committed a pattern of violations, to wit:
• Failing to disclose exculpatory blood-type evidence,
• Failing to disclose audio tapes of witness testimony,
• Failing to disclose a deathbed confession of evidence destruction by the prosecuting attorney Gerry Deegan,
• And Failing to disclose eyewitness identification of the killer that didn't match Thompson.
There are other allegations of systemic misconduct by Connick and his prosecutors. "According to the Innocence Project, a national organization that represents incarcerated criminals claiming innocence, 36 men convicted in Orleans Parish during Connick's 30-year tenure as DA have made allegations of prosecutorial misconduct, and 19 have had their sentences overturned or reduced as a result."
For additional information on John Hollway's "KILLING TIME', please visit www.johnhollway.com
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Democrats criticize hiring of firm for House remap
Legal Marketing |
2011/04/18 07:50
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Democratic lawmakers are raising complaints about Republican House Speaker Jim Tucker's decision to hire a law firm with national GOP ties to submit the state House remap to federal officials.
The head of the House redistricting committee, Democratic Rep. Rick Gallot, said Friday the choice creates the appearance of impropriety because the firm had given the Republican delegation advice about redistricting.
The Senate is using its staff to do its redistricting submission.
Tucker has hired Washington, D.C.-based Holtzman Vogel PLLC to guide the redesign of the 105 House districts to the U.S. Justice Department for review under the Voting Rights Act.
Tucker says he chose a firm with the expertise needed for the complex legal work.
The managing partner of Holtzman Vogel is chief counsel to the Republican National Committee.
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The Securities Law Firm of Menzer & Hill, P.A. Files a Claim Against Comerica Securities, Inc. For Portfolio Losses
Legal Marketing |
2011/02/14 01:24
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The Securities Law Firm of Menzer & Hill, P.A. www.suemyadvisor.com, announced today it filed an arbitration claim against Comerica Securities, Inc., a subsidiary of Comerica Bank (NYSE: CMA) on behalf of an 81 year old retired investor and his wife. The claim alleges that the Respondent and several of its brokers were negligent in the management of Claimants’ portfolio, originally worth over $1 million. The claim further alleges violations of Michigan Uniform Securities Act, unsuitability, breach of fiduciary duty and breach of contract. Claimants’ losses exceed $100,000. Michael Hill, Managing Partner with the Securities Law Firm of Menzer & Hill, P.A. says, “the investors wanted a safe and conservative growth portfolio for the remainder of their retirement and instead received an actively traded account that exposed them to unnecessary market risks.” For a free case evaluation or to discuss this matter, please contact the Securities Law Firm of Menzer & Hill, P.A. at 888-923-9223, or visit us on the web at www.suemyadvisor.com. |
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The Securities Law Firm of Klayman & Toskes Files Arbitration Claim
Legal Marketing |
2010/11/28 21:29
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The Securities Law Firm of Klayman & Toskes ("K&T"), www.nasd-law.com, announced today that it filed a securities arbitration claim against Securities America on behalf of a 69 year old retiree from Arizona, seeking to recover $230,000 which was invested in Medical Capital Notes. In August of this year, Montana's Commissioner of Securities filed a Notice of Proposed Agency Disciplinary Action against Securities America relating to its sales of Medical Capital Notes. According to the Notice, Securities America "withheld material information regarding heightened risks" from its registered representatives and their clients concerning Medical Capital Notes. Montana's Commissioner of Securities also alleged that Securities America "concealed these risks" from its brokers and their clients. Additionally, in 2009, Massachusetts' Securities Division filed a Complaint against Securities America relating to its sales of Medical Capital Notes. Massachusetts alleged that Securities America ignored their own due diligence analysts and sold Medical Capital Notes to unsophisticated investors without telling them about the risks involved. While a class action lawsuit regarding Medical Capital Notes has been filed, K&T reminds investors of the benefits of filing an individual securities arbitration claim, as opposed to participating in a class action lawsuit. By participating in a class action lawsuit, an investor may only recover a nominal amount. However, if one has experienced significant losses in Medical Capital Notes, it may be more beneficial for them to file an individual securities arbitration claim. In 2003, K&T conducted a detailed study of securities arbitration versus class action. The study concluded that investors who file a securities arbitration claim traditionally obtain an overall higher rate of recovery as opposed to participating in a class action lawsuit. To view the full results of the comparison, please visit our web-site: http://www.nasd-law.com/documents/classvr.pdf Investors who purchased Medical Capital securities from a full-service brokerage firm and sustained significant losses can contact K&T to explore their legal rights and options. The attorneys at K&T are dedicated to pursuing claims on behalf of investors who have suffered investment losses. K&T, an experienced, qualified and nationally recognized securities litigation law firm, practices exclusively in the field of securities arbitration and litigation. It continues its representation of investors throughout the world in securities arbitration and litigation matters against major Wall Street brokerage firms. If you have information relating to this announcement or have investment losses of $100,000 or more in Medical Capital Notes, please contact Steven D. Toskes, Esquire or Jahan K. Manasseh, Esquire of Klayman & Toskes, P.A., at 888-997-9956 or visit us on the web at http://www.nasd-law.com. |
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Tully Rinckey Makes Inc. 5000 List
Legal Marketing |
2010/08/24 02:58
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For the second year in row, Tully Rinckey PLLC has been named one of the fastest-growing companies by Inc. Magazine. The publication ranked the law firm 949 out of 5,000 on its annual list of fastest-growing private companies in America. Last year, Tully Rinckey PLLC was ranked 1,598th. The ranking is another indication of the firm’s ongoing growth and expansion in today’s challenging climate. Over the past year, Tully Rinckey PLLC has nearly doubled in size at both of its Albany and Washington, D.C. offices, adding nearly 10,000 square feet of office space and more than 30 new jobs. The company anticipates future growth with plans to open several additional offices along the eastern seaboard over the next 12 to 18 months. “The firm’s ability to not only survive, but thrive, in these challenging times is a testament to the superior legal services provided by our attorneys,” says Tully Rinckey founding partner, Mathew B. Tully. “We have always prided ourselves in offering personal, professional and affordable legal representation.” The annual “Inc. 5000” list is an extension of the publication’s list of the top 500 fastest-growing companies in the country. The list is ranked according to percentage revenue growth over a four-year period. To qualify, companies must be able to show four calendar years of sales. All companies included on the list are U.S.-based, privately held, and independent of any subsidiary of a parent company. For more information please contact Ali Skinner at (518) 218-7100 or at askinner@tullylegal.com.
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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 and help you redesign your existing law firm site to secure your place in the internet. |
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