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Lieff, Cabraser, Heimann Bernstein, LLP Announces Class Action
Legal Focuses |
2011/10/17 09:35
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The law firm of Lieff, Cabraser, Heimann amp; Bernstein, LLP is investigating potential securities law violations as alleged in a securities class action lawsuit filed on behalf of purchasers of the common stock of Imperial Holdings, Inc. pursuant and/or traceable to the Company’s initial public offering on or about February 7, 2011 through September 27, 2011, inclusive.
Imperial Holdings shareholders, or individuals with information relating to this investigation, who wish to learn more about the action should click here or contact Sharon M. Lee of Lieff Cabraser toll free at (800) 541-7358.
Background on the Imperial Holdings Securities Class Litigation
The action is brought against Imperial Holdings, certain of its officers and directors, and the underwriters of the IPO for violations of the Securities Act of 1933. Imperial Holdings is a specialty finance company that focuses on providing premium financing for individual life insurance policies.
The action alleges that the Company’s registration statement and prospectus for the IPO, filed with the Securities and Exchange Commission, were materially false and misleading because they failed to disclose that Imperial Holdings had engaged in wrongdoing with respect to its life insurance finance business that would expose the Company and certain of its employees to government investigations.
On September 27, 2011, Imperial Holdings announced that federal investigators had served the Company with a search warrant and that it and certain of its employees, including its Chairman and Chief Executive Officer and its President and Chief Operating Officer, were under investigation in connection with the Company’s life insurance business. In response to this announcement and news of the raid on the Company's headquarters, the price of Imperial Holdings stock declined from $6.30 per share to close at $2.19 per share on September 28, 2011, on extremely heavy trading volume.
About Lieff Cabraser
Lieff, Cabraser, Heimann amp; Bernstein, LLP, with offices in San Francisco, New York and Nashville, is a nationally recognized law firm committed to advancing the rights of investors and promoting corporate responsibility. Since 2003, the National Law Journal has selected Lieff Cabraser as one of the top plaintiffs’ law firms in the nation. In compiling the list, the National Law Journal examined recent verdicts and settlements in addition to overall track records. Lieff Cabraser is one of only two plaintiffs’ law firms in the United States to receive this honor for the last nine consecutive years. For more information about Lieff Cabraser and the firm’s representation of investors, please visit http://www.lieffcabraser.com. |
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Robbins Geller Rudman Dowd LLP Files Class Action
Legal Focuses |
2011/10/14 09:26
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Robbins Geller Rudman amp; Dowd LLP today announced that a class action has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of the common stock of Aeropostale, Inc. between February 3, 2011 and August 3, 2011, inclusive (the “Class Period”).
If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Samuel H. Rudman or David A. Rosenfeld of Robbins Geller at 800/449-4900 or 619/231-1058, or via e-mail at djr@rgrdlaw.com. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.rgrdlaw.com/cases/aeropostale/. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
The complaint charges Aeropostale and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Aeropostale operates as a mall-based specialty retailer of casual apparel and accessories. It designs, markets, and sells merchandise principally targeting 14 to 17 year-old women and men.
The complaint alleges that, during the Class Period, defendants issued materially false and misleading statements regarding the Company’s business and prospects. Specifically, defendants misrepresented and/or failed to disclose the following adverse facts: (i) that Aeropostale was experiencing declining demand for its women’s fashion division, which makes up 70% of the Company’s sales; (ii) that Aeropostale was enduring pressure on its profit margins as a result of increasing inventory and higher discounts on its clothing; and (iii) that, as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about the Company and its prospects. |
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Parker Waichman Alonso LLP Files Class Action Lawsuits
Legal Focuses |
2011/08/05 03:05
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Parker Waichman Alonso LLP Files Two Class Action Lawsuits on Behalf of Iowa Property Owners Alleging DuPont's Imprelis™ Herbicide Killed and Damaged Trees on Their Property
Parker Waichman Alonso LLP, a national law firm representing victims of defective products and toxic substances, together with its partner law firms, has filed two class action lawsuits on behalf of Iowa residents alleging DuPont's Imprelis™ herbicide killed and damaged trees on their property. The first, brought by Daryl and Mary Ann Haley of Tipton, Iowa, was filed in U.S. District Court for the Northern District of Iowa, Cedar Rapids Division (Case No. 1:11-cv-00085-LRRR). A second Imprelis™ lawsuit was filed on behalf of Nicholas L. Peters of Mars, Iowa, in U.S. District Court for the Northern District of Iowa, Sioux City Division (Case No. 5:11-cv-04066-MWB). Both Complaints seeks class action status on behalf of property owners who have sustained damage as a result of Imprelis™.
Plaintiffs in both lawsuits allege Imprelis™ was applied to their lawns in accordance with directions and instructions supplied by DuPont. The Class Action Complaints allege that as a result of the Imprelis™ applications, the Plaintiffs suffered significant damage and harm to trees, and will continue to suffer even further damage to their lawn and garden because of Imprelis™. The lawsuits further allege that rather than being isolated incidents, thousands of trees have been reported as being infected by Imprelis™, and tens of thousands more reports are expected in the future.
Both lawsuits charge DuPont with, among other things, negligence, strict liability, breach of express warranty and breach of implied warranties. The Plaintiffs seek injunctive relief barring DuPont from continued sale of Imprelis™, and compensatory and other damages including the cost of replacing trees damaged by Imprelis™.
Imprelis™, brought to market by DuPont in October 2010, is designed to kill broadleaf weeds, including dandelion, clover and wild violet. It is touted by DuPont as an environmentally-friendly herbicide and an innovative solution to control a wide spectrum of broadleaf weeds. According to a New York Times report, reports of dying trees possibly associated with Imprelis™ started surfacing around Memorial Day, and have since prompted warnings from extension services in several states. Imprelis™ is now suspected of causing the death of thousands of shallow-rooted trees, including willows, poplars and conifers, on lawns, golf courses, parks and cemeteries throughout the country. The reports have prompted the U.S. Environmental Protection Agency (EPA) to begin gathering information on the tree deaths from state officials and DuPont.
DuPont acknowledged it was investigating reports of tree deaths and damage possibly associated with Imprelis™ in a letter to turf management professionals dated June 17, 2011. On July 27, 2011, the company issued another letter stating that in the course of its review, “We have observed tree injuries associated with Imprelis™, primarily on Norway spruce and white pine trees.” The problems appear to be concentrated in Minnesota, Michigan, Indiana, Ohio, Pennsylvania, New Jersey and Wisconsin, DuPont said.
Parker Waichman Alonso LLP and its partner firms have now filed three class action lawsuits on behalf of property owners who claim to have sustained damage following application of Imprelis™. A previous lawsuit was filed on behalf of an Ohio property owner in U.S. District Court for the Northern District of Ohio, Eastern Division (Case No. 1:11-cv-01517).
Parker Waichman Alonso LLP continues to receive reports of Imprelis™ tree death and damage from around the country, including from homeowners, golf courses, universities, arboretums, nurseries and orchards, parks and recreational sites, and cemeteries. Parker Waichman Alonso LLP is investigating these complaints on behalf of property owners who have sustained damages as a result of Imprelis™. More information regarding Imprelis™ side effects can be obtained at Parker Waichman Alonso LLP's DuPont Imprelis™ poisoning page. The page will be updated regularly as more information becomes available.
For more information regarding Imprelis™ class action lawsuits and Parker Waichman Alonso LLP, please visit http://www.yourlawyer.com or call 1-800-LAW-INFO (1-800-529-4636). |
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Ryan Maniskas, LLP Announces Class Action Lawsuit Against Ebix, Inc.
Legal Focuses |
2011/07/15 21:31
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Ryan amp; Maniskas, LLP (www.rmclasslaw.com/cases/ebix) announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York on behalf of purchasers of the common stock of Ebix, Inc. (Ebix or the Company) (NASDAQ: EBIX) between May 6, 2009 through June 30, 2011, inclusive (the Class Period).
For more information regarding this class action suit, please contact Ryan amp; Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at rmaniskas@rmclasslaw.com or visit: www.rmclasslaw.com/cases/ebix.
Ebix supplies software and electronic commerce solutions to the insurance industry. The Complaint alleges that during the Class Period, Defendants issued a series of materially false and misleading statements regarding the Company's business and financial results. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company's tax provisions did not conform to Generally Accepted Accounting Principles; (2) the Company overstated its account receivables; (3) the Company consistently failed to tie customer payments to specific invoices; (4) the Company lacked adequate internal and financial controls; and (5) as a result of the foregoing, the Company's statements were materially false and misleading at all relevant times.
On March 24, 2011, Seeking Alpha published a report (Report”) accusing the Company of engaging in a number of accounting manipulations, including: (a) manipulating stated organic growth; (b) overstating profit margins; (c) overstating its accounts receivables; (d) manipulating tax liabilities; and (e) inflating cash flows. The Report concluded that the Company’s problems run deeper than accounting. The EBIX story also comes with multiple auditor resignations, governance abuses, misrepresented organic growth, questionable cash flow and a contentious CEO.” On this news, the Company’s shares plummeted $7.20 per share, or nearly 24%, to close on March 24, 2011, at $22.52 per share, on unusually heavy trading volume.
On June 30, 2011, the media reported that the shareholders of Peak Performance Solutions, Inc. (Peak”), who sold their business to Ebix, filed a lawsuit in the United States District Court for the Southern District of Ohio, claiming that Ebix was consistently unable to bill customers properly, tie customer payments to invoices, and provide basic financial data or calculate revenues for Peak. On this news, the Company's shares declined an additional $1.30 or more than 6% and closed at $19.05.
If you are a member of the class, you may, no later than September 12, 2011, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as lead plaintiff. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Ryan amp; Maniskas, LLP or other counsel of your choice, to serve as your counsel in this action.
For more information about the case or to participate online, please visit: www.rmclasslaw.com/cases/ebix or contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218, or by e-mail at rmaniskas@rmclasslaw.com. For more information about class action cases in general or to learn more about Ryan amp; Maniskas, LLP, please visit our website: www.rmclasslaw.com.
Ryan amp; Maniskas, LLP is a national shareholder litigation firm. Ryan amp; Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide. |
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Chambers USA Guide Ranks 9 Greenberg Traurig Attorneys
Legal Focuses |
2011/06/23 22:18
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Chambers and Partners, an annual guide featuring the leading U.S. lawyers and law firms, announced that 9 attorneys from Greenberg Traurig’s Phoenix office have been selected for inclusion in its Chambers USA 2011 guide. Chambers and Partners selects attorneys based upon thousands of interviews with practicing lawyers and with clients around the world. This stringent research and review process yields an exclusive compilation of the leading attorneys in their respective fields.
The following Greenberg Traurig Phoenix attorneys have been honored by Chambers USA in its 2011 Guide:
nbsp;nbsp; Brian H. Blaney - Corporate/Mamp;A
nbsp;nbsp; Rebecca Lynne Burnham - Real Estate
nbsp;nbsp; Robert S. Kant - Corporate/Mamp;A
nbsp;nbsp; Leslie Klein - Labor amp; Employment: Employee Benefits amp; Compensation
nbsp;nbsp; Bruce E. Macdonough - Corporate/Mamp;A
nbsp;nbsp; Daniel B. Pasternak - Labor amp; Employment
nbsp;nbsp; Lawrence J. Rosenfeld - Labor amp; Employment
nbsp;nbsp; Lesa J. Storey - Real Estate
nbsp;nbsp; Quinn Williams - Corporate/Mamp;A
About Greenberg Traurig, LLP
Greenberg Traurig, LLP is an international, full-service law firm with approximately 1800 attorneys serving clients from more than 30 offices in the United States, Europe and Asia. In the U.S., the firm has more offices than any other among the Top 10 on The National Law Journal’s 2011 NLJ 250. In the U.K., the firm operates as Greenberg Traurig Maher LLP. Greenberg Traurig has a strategic alliance with the independent law firm, Studio Santa Maria in Milan and Rome. The firm was Chambers and Partners' USA Law Firm of the Year in 2007 and among the Top 3 in the International Law Firm of the Year at the 2009 The Lawyer Awards. For additional information, please visit http://www.gtlaw.com. |
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The Rosen Law Firm Announces Securities Class Action
Legal Focuses |
2011/05/18 09:53
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The Rosen Law Firm, P.A. today announced that a class action lawsuit has been filed on behalf of investors who purchased the common stock of GMX Resources, Inc. (NYSE: GMXR) pursuant or traceable to the company’s stock offerings on July 17, 2008, May 13, 2009 and October 22, 2009. The lawsuit seeks to recover investors’ damages from violations of the federal securities laws.
To join the GMX Resources class action, visit the Rosen Law Firm’s website at http://www.rosenlegal.com, or call Laurence Rosen, Esq. or Phillip Kim, Esq., toll-free, at 866-767-3653; you may also email lrosen@rosenlegal.com or pkim@rosenlegal.com for information on the class action.
The Complaint alleges that GMX Resources violated the securities laws by issuing false financial statements to investors in the stock offerings on July 17, 2008, May 13, 2009 and October 22, 2009. On March 11, 2010, the company disclosed that its full year 2008 and quarterly 2009 financial statements were inaccurate and must be restated. The company also warned that investors could no longer rely on its financial statements. GMX subsequently restated its financial statements to correct for the method used to record full cost pool impairment charges and related deferred income taxes. As a result of the restatement, the company’s net loss for fiscal year 2008 was $124.6 million as compared to the originally reported $81.7 million.
GMX Resources share price has declined substantially since the stock offerings and investors in the stock offerings have suffered significant damages.
If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Laurence Rosen, Esq. or Phillip Kim, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at lrosen@rosenlegal.com or pkim@rosenlegal.com. You may also visit the firm’s website at http://www.rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. |
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