|
|
|
The Securities Law Firm of Klayman Toskes Files Arbitration Claim
Marketing |
2010/11/28 21:08
|
pThe Securities Law Firm of Klayman amp; Toskes (Kamp;T), a href=http://www.nasd-law.comwww.nasd-law.com/a, 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. /ppIn 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./ppWhile a class action lawsuit regarding Medical Capital Notes has been filed, Kamp;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, Kamp;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: a href=http://www.nasd-law.com/documents/classvr.pdfhttp://www.nasd-law.com/documents/classvr.pdf/a/ppInvestors who purchased Medical Capital securities from a full-service brokerage firm and sustained significant losses can contact Kamp;T to explore their legal rights and options. The attorneys at Kamp;T are dedicated to pursuing claims on behalf of investors who have suffered investment losses. Kamp;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./ppIf 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 amp; Toskes, P.A., at 888-997-9956 or visit us on the web at a href=http://www.nasd-law.comhttp://www.nasd-law.com/a.
/p |
|
|
|
|
|
|
Judge denies class action in cigarette lawsuits
Topics |
2010/11/28 21:07
|
pA federal judge in Maine yesterday denied class-action status to four lawsuits accusing Philip Morris USA of misleading smokers about the health risks of light cigarettes./ppThe ruling by U.S. District Judge John A. Woodcock Jr. concerns lawsuits that were filed in Illinois, Maine, California and Washington, D.C., alleging that Henrico County-based Philip Morris USA marketed light cigarettes as healthier than regular cigarettes in violation of various consumer-protection and false-advertising laws./ppThe lawsuits are among 15 cases that were consolidated for pre-trial proceedings in federal court. In his ruling, Woodcock said the plaintiffs had not met the requirements for class-action status./ppWhile the judge has yet to rule on the remaining cases in the multidistrict litigation, we believe this decision should serve as a persuasive authority in denying class certification in those and other similar cases as well, said Murray Garnick, senior vice president and associate general counsel for Philip Morris USA parent company Altria Group Inc./ppThe federal court ruling in Maine yesterday was in contrast to a decision in a separate lawsuit in New Hampshire state court Monday./ppIn that case, a superior court judge granted class-action status to a lawsuit against Philip Morris USA over its marketing of light cigarettes. A spokesman for Philip Morris USA said the company will appeal that decision to the New Hampshire Supreme Court.
/p |
|
|
|
|
|
|
Ruling on Wal-Mart class-action case may have broader impact
Topics |
2010/11/28 21:07
|
pThe fate of the largest job bias lawsuit in the nation's history — a claim that Wal-Mart Stores Inc. shortchanged women in pay and promotions for many years — hinges on whether the Supreme Court will let the class-action case go to trial./ppThe court is likely to announce as soon as Monday whether it will hear the retail giant's appeal asserting that a single lawsuit cannot speak for more than 1.5 million employees./ppBusiness lawyers and civil rights advocates are closely following the Wal-Mart case for its implications for class-action litigation.
This may sound like just a technical, procedural issue, but because of the economics of it, class-action certification is often the most important issue to be decided, said Washington lawyer Roy T. Englert Jr./ppIf the high court permits the Wal-Mart case to proceed as a class action, it will put enormous pressure on the retailer to settle, he said. The plaintiffs have not specified the damages they would seek, but given the size of the class, it could mount into billions of dollars./ppThe U.S. Chamber of Commerce and several large corporations have joined with Wal-Mart, the nation's largest employer, in urging the high court to hear the appeal and to restrict the use of class-action claims.
/p |
|
|
|
|
|
|
Class action lawsuit against United Water could cost millions
Headline News |
2010/11/28 21:06
|
pSeveral Union City residents have filed a class action lawsuit against United Water on allegations that the company cheated customers by selling them useless warranties that do not cover repairs./ppThe warranties, which cost about $150 a year, are supposed to cover the repair of broken water pipes, sewer pipes and other items, the attorneys for three 18th Street plaintiffs, said. Although the application says Guaranteed Acceptance in large print, there are actually many exclusions, the attorneys said./ppMulti-unit dwellings are actually excluded from the warranty, but that has not stopped United Water from marketing and selling the policies to the owners of multi-unit buildings, the lawsuit says./ppThe suit was recently filed in Bergen County Superior Court in Hackensack, where United Water is based./pp
Attorneys Carl Mayer and Bruce Afran held a press conference Tuesday at the courthouse. Afran estimated that if all New Jersey residents in a situation similar to the plaintiffs were to join the suit, and the suit was successful, it could cost United Water as much as $50 million./p |
|
|
|
|
|
|
Conn. high court to hear immigrant benefits case
Topics |
2010/11/28 21:06
|
| pThe Connecticut Supreme Court will be hearing arguments in a case where state lawmakers voted to end medical benefits for some impoverished legal immigrants. The justices are set to hear the case Tuesday. /ppA Hartford Superior Court judge ruled in December 2009 that a state law approved earlier that year violated the constitutional rights of legal immigrants by denying them medical benefits. The state appealed. /ppLawmakers approved the legislation to save $9 million from a program serving about 4,800 immigrants who are elderly, disabled or are parents of needy children. /ppA 1996 federal law barred legal immigrants from receiving Medicaid until they had lived in the country five years. Connecticut had provided medical benefits to legal immigrants who'd been in country less than five years before last year's vote. /p |
|
|
|
|
|
|
$450m class action launched against NAB
Law Firm News |
2010/11/28 21:05
|
pA $450 million class action is being launched on behalf of National Australia Bank shareholders who lost money during the global financial crisis because of NAB's exposure to toxic debt./ppLegal firm Maurice Blackburn will lodge the claim in a Victorian court tomorrow./ppThe firm says NAB had bought $1.2 billion in collateralised debt obligations (CDO) in 2006 which had a heavy exposure to the US sub-prime housing market./ppIt will allege that between early January and late July that year, NAB failed to properly disclose to shareholders all material information relating to its CDO exposure./p
p
/p |
|
|
|
|
|
Legal News RSS Feed
