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Bull Lifshitz, LLP Announces Investigation
Legal Focuses |
2010/07/27 09:15
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| pBull amp; Lifshitz, LLP announces an investigation into possible breaches of fiduciary duty in connection with the proposed acquisition of ATC Technology Corporation by GENCO Distribution System, Inc. in a cash transaction valued at approximately $512.6 million. /ppUnder the terms of the transaction, approved by the board of directors of both companies, each outstanding share of ATC will be converted into the right to receive $25.00 per share in cash. Completion of the merger is subject to, among other things, approval by holders of a majority of ATC's outstanding common stock. /ppBull amp; Lifshitz, LLP's investigation is focused on whether the Board of Directors breached their fiduciary duties to ATC stockholders and whether the proposed deal provides adequate value to the Company's shareholders. /ppIf you are a holder of ATC stock and want to discuss your legal rights, you may e-mail or call Bull amp; Lifshitz, LLP who will, without obligation or cost to you, attempt to answer your questions. /ppIf you are a shareholder of ATC and would like more information about our investigation, please contact Joshua M. Lifshitz, Esq. by telephone at (866) 313-6222 or by sending an e-mail including your contact information to: a href=mailto:counsel@nyclasslaw.comcounsel@nyclasslaw.com/a. All e-mail correspondence should make reference to ATC. /ppBull amp; Lifshitz, LLP is a New York City-based law firm with significant experience representing investors in merger-related shareholder class actions, shareholder derivative actions, and securities fraud class actions. For more information about the firm, please visit our website at a href=http://www.nyclasslaw.comwww.nyclasslaw.com/a. /p |
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N.J. gay-marriage case must begin in lower court
Headline News |
2010/07/27 01:13
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pThe push for gay marriage in New Jersey suffered a setback Monday when the state Supreme Court said six gay couples who claim New Jersey has denied them the rights granted to married heterosexual couples must argue their case through the lower courts.
The court was split, 3-3, in the decision; four affirmative votes are needed for a motion to be granted. /ppChief Justice Stuart Rabner and Justices Roberto Rivera-Soto and Helen Hoens said in an order that the issue cannot be decided without the development of an appropriate trial-like record, and denied the plaintiffs' motion without prejudice. /ppThey added that they reached no conclusion on the merits of the plaintiffs' allegations that the Civil Union Act violates their constitutional rights./p |
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Wis. justices uphold ex-Jesuit priest's conviction
Law Firm News |
2010/07/20 08:52
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pThe Wisconsin Supreme Court has upheld a sexual abuse conviction of a former Jesuit priest who claimed he was falsely accused./ppIn a 7-0 ruling on Tuesday, justices ruled that Donald McGuire's prosecution 36 years after he allegedly abused two teenage boys in the 1960s was fair./ppMcGuire, a former spiritual adviser to Mother Teresa and her religious order of nuns, argued the delay hurt his ability to defend himself. Justices disagreed./ppThe men came forward in 2003 to report they were abused by McGuire during trips to a cottage in Fontana, Wis. in 1967 and 1968. At the time, McGuire taught the boys at the Loyola Academy in Wilmette, Ill./ppMcGuire was convicted on five counts of indecent behavior with a child. He is serving a 25-year prison term on separate, federal charges.
/p |
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Goldman profit slides on SEC charge, revenue drops
Headline News |
2010/07/20 08:52
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pGoldman Sachs Group Inc. said Tuesday its second-quarter net income dropped 83 percent to $453 million as its trading revenue fell and it booked a charge for its settlement of civil fraud charges with the Securities and Exchange Commission./ppThe company's revenue fell short of expectations and helped send the stock market falling. Goldman followed IBM Corp. and Texas Instruments Inc., which late Monday reported revenue that disappointed investors./ppGoldman's stock dropped $1.89 to $143.79 in morning trading./ppGoldman took a $550 million charge to cover the cost of the settlement with the SEC that was announced last week. Earnings were also reduced by a one-time, $600 million charge tied to a new tax on bonuses in Britain./ppExcluding the one-time costs, net income after payment of dividends on preferred stock came to $2.75 per share, easily topping the $2.08 analysts forecast. Analysts typically exclude one-time charges from their estimates./ppRevenue fell 36 percent to $8.84 billion, short of the $8.94 billion predicted by analysts./ppThe drop in revenue that a number of companies have reported is unnerving investors, who see it as a sign that the economic recovery is stalling. Banks, however, have their own revenue issues. Goldman's trading revenue fell along with that of competitors including JPMorgan Chase amp; Co. and Bank of America Corp. that were hit hard by the spring plunge in the stock market. The drop in their revenue is adding to investors' concerns about how new federal regulations will affect banks' ability to profit from trading operations.
/p |
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NY man gets 19 years to life in wife's poisoning
Law Center |
2010/07/20 08:51
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| A New York man who admitted killing his wife by lacing her coffee with cyanide has been sentenced to 19 years to life in prison.pDavid Steeves of Center Moriches pleaded guilty in June to second-degree murder in the death of 41-year-old Maureen Steeves./ppAn autopsy found the woman was killed by potassium cyanide poisoning. Prosecutors say her husband had laced her coffee with the lethal substance./ppDefense attorney Craig McElwee said the 45-year-old Steeves bought the cyanide to kill himself but chickened out and gave it to his wife instead./ppSteeves pleaded guilty after prosecutors assured him that his sons would not be in court for the sentencing. The boys, ages 17 and 15, wrote letters to the judge, saying their father deserved no mercy./p |
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Judicial Vacancies Slow the Wheels of Justice
Topics |
2010/07/12 10:06
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| pAs the Senate prepares to vote on whether Elena Kagan should fill the vacancy on the U.S. Supreme Court, there remain a substantial number of other vacancies in the nation’s lower federal courts that urgently need filling. /ppCurrently, there are about 100 vacancies in the lower federal courts. The American Bar Association says the lack of judges is affecting the efficiency and fairness of the justice system. /ppABA President Carolyn B. Lamm said, “Our courts are already terribly strained at the federal level because of the caseload and the workload, and when you’re a hundred justices down…that’s a big gap.nbsp; We have speedy trial rules that require them to put criminal cases first.nbsp; As a result, all of the civil proceedings are put off and there is a real gap in terms of a significant delay as a result of the vacancies. It is edging toward a crisis not to have a full bench.” /ppEven if all the vacancies were filled, said Lamm, a significant number of new judgeships would still be necessary to handle caseload growth.nbsp; In fact, the Judicial Conference of the United States is recommending 67 new permanent and temporary judgeships.nbsp; /ppBeyond the existing 100 vacancies, more than 20 additional judges have announced that they will retire in the next several months. Since the start of the 111th Congress, President Obama has made 78 nominations to fill the empty seats, and the Senate has confirmed 36 of the nominees. nbsp; /ppLamm noted that most nominees have moved through the Senate with little dissent and little delay. /ppWhen they finally are scheduled for a vote by the Senate, Lamm commented, “None of them have in fact engendered huge debate on the floor of the Senate….nbsp; No one has seen a pattern of inappropriate people being nominated; it is simply very slow and it really needs a full bipartisan effort to move these nominations. And quite frankly, it is becoming urgent,” said Lamm. /p |
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