|
|
|
Cohen Milstein Sellers Toll PLLC Announces Class Action
Marketing |
2011/08/30 09:21
|
Cohen Milstein Sellers amp; Toll PLLC announces that it has filed a class action lawsuit in the U.S. District Court for the Southern District of New York against SinoTech Energy Limited, and certain of its officers, directors and underwriters.
The lawsuit, which is captioned Crayder v. SinoTech Energy Limited, et al., 11-CV-05935, alleges violations of the United States securities laws on behalf of purchasers of SinoTech's American Depository Shares (ADSs) from November 3, 2010 through August 16, 2011 (the Class Period), including purchasers of ADSs in the Company's November 3, 2010 initial public offering (the November IPO). Claims for November IPO purchasers arise under Sections 11, 12(a)(2) and 15 of the Securities Act of 1933 (the Securities Act). Claims for other Class Period purchasers fall under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the Exchange Act) and Rule 10b-5 promulgated thereunder by the United States Securities and Exchange Commission.
The lawsuit asserts numerous problems with SinoTech's previously issued financial statements and declarations about its future prospects. Among other claims, the complaint alleges that: (1) the Company's sole import agent, which accounted for more than $100 million worth of oil drilling equipment orders, is an empty shell company with no sign of operations; (2) the Company's only chemical supplier is also an empty shell company, with little or no revenues; (3) the Company's largest subcontracting customer, which provides the vast majority of SinoTech's revenues, has unverifiable operations with minimal revenues; (4) the financial statements SinoTech issued in the United States are inconsistent with similar filings the Company made in China; (5) the Company has engaged in undisclosed related-party transactions in violation of Generally Accepted Accounting Principles; and (6) positive statements the Company made regarding its internal financial controls were false and misleading.
On August 16, 2011, a research analyst writing under the name Alfred Little published an investigative report (the Report) detailing these and other problems at SinoTech. The day the Report was issued, the Company's stock price plummeted more than 40%, falling from $4.02 per share on August 15, 2011 to $2.35 per share at the close of trading on August 16, 2011 - a decline of $1.67 per share on unusually high trading volume. The NASDAQ halted SinoTech trading after the market closed on August 16, 2011, announcing that trading would remain halted until the Company fully satisfied NASDAQ's request for additional information. To date, trading has not resumed.
If you purchased the common stock of SinoTech and wish to serve as lead plaintiff, you must move the Court no later than October 18, 2011 to request that the Court appoint you as lead plaintiff. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. To be appointed lead plaintiff, the Court must decide that your claim is typical of the claims of other class members, and that you will adequately represent the class. Your share in any recovery will not be enhanced or diminished by the decision whether or not to serve as a lead plaintiff. Any member of the proposed class may retain Cohen Milstein Sellers amp; Toll PLLC or other attorneys to serve as your counsel in this action, or you may do nothing and remain an absent class member.
Cohen Milstein Sellers amp; Toll PLLC has significant experience in prosecuting investor class actions and actions involving securities fraud. The firm has offices in Washington, D.C., New York, Philadelphia, Chicago, and West Palm Beach, and is active in major litigation pending in federal and state courts throughout the nation.
The firm’s reputation for excellence has repeatedly been recognized by courts which have appointed the firm to lead positions in complex multi-district or consolidated litigation. Cohen Milstein Sellers amp; Toll PLLC has taken a lead role in numerous important cases on behalf of defrauded investors, and has been responsible for a number of outstanding recoveries which, in the aggregate, total over a billion dollars. Prior results do not guarantee a similar outcome. For more information visit www.cohenmilstein.com. |
|
|
|
|
|
|
Berman DeValerio Announces Securities Class Action
Marketing |
2011/08/23 10:19
|
The law firm of Berman DeValerio filed a securities class action lawsuit today against Miller Energy Resources, Inc.
The lawsuit alleges violations of United States securities laws on behalf of purchasers of common stock from December 16, 2009 through and including August 1, 2011 (the “Class Period”).
Berman DeValerio (www.bermandevalerio.com) brought the complaint against the Company and certain of its directors and officers (the “Defendants”) in the United States District Court for the Eastern District of Tennessee. The case is filed as 3:11-cv-00397.
Pursuant to the Private Securities Litigation Reform Act of 1995, investors wishing to serve as the lead plaintiff are required to file a motion for appointment with the court no later than October 11, 2011.
The claims arise under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, 15 U.S.C. §§ 78j(b) and 78t(a), (the “Exchange Act”), and Rule 10b-5 promulgated thereunder by the United States Securities and Exchange Commission (the “SEC”) for class period purchasers.
The complaint alleges that throughout the Class Period, Miller, an oil and gas exploration, production and drilling firm, and the other Defendants made material false statements about Miller’s financial results and about the valuation of certain oil-and-gas-producing assets it acquired in Alaska. Specifically, the complaint alleges that Defendants: (1) issued false and misleading consolidated balance sheets, statements of operations and cash flows; (2) failed to properly classify royalty expenses; (3) failed to properly record sufficient compensation expense on equity awards; (4) did not properly calculate the liability for derivative instruments; (5) did not properly consolidate entities under its control; and (6) improperly reported the value of certain oil and gas assets that it acquired in Alaska. As a result of these problems, the Company was required to restate its financial results. Over a series of almost daily disclosures occurring on July 28, 2011, July 29, 2011 and August 1, 2011, Miller’s stock price dropped from $7.04 per share on July 27, 2011 to a close of $3.37 per share on August 2, 2011, a total drop of $3.67 or 52%.
To receive a copy of the complaint, please call Berman DeValerio at (800) 516-9926.
If you are a member of the class, you may, no later than October 11, 2011, request that the court appoint you as lead plaintiff for the class. In addition, you may contact the attorneys at Berman DeValerio to discuss your rights and interests in the case. Please note: you may also retain counsel of your choice and need not take any action at this time to be a class member.
Berman DeValerio is a national law firm representing plaintiffs in lawsuits against corporate wrongdoers, chiefly for violations of securities and antitrust laws. The firm has 49 lawyers in Boston, San Francisco and South Florida. |
|
|
|
|
|
|
WHEN CORRUPTION WAS KING- Robert Cooley
Marketing |
2011/06/18 10:10
|
The Nationally Syndicated Radio show, The LawBusiness Insider , hosted by Steve Murphy....proudly presents former Mafia Lawyer and Chicago Cop, Robert Cooley….And Robert Dugoni, NY Times Best Selling Authornbsp; in exclusive interviews on The LawBusiness Insider, July 28, 2011 1. nbsp; WHEN CORRUPTION WAS KING- Robert CooleyBob Cooley was the Chicago Mafia’s “Mechanic”—a fixer of court cases. During the 1970s and ’80s, Cooley bribed judges, court clerks, and cops to keep his Mob clients—hit men, bookies, racketeers, and crooked pols— out of jail. Paid handsomely for his services, he lived fast and enjoyed the protection of the men he served This is the story of a Mob lawyer turned mole with a million-dollar contract on his head who has clanged back and forth between sin and sainthood like a church bell clapper—a turbulent youth, a stint on Chicago’s police force, law school, and then the inner sanctum of Chicago’s leading mobsters and corrupt political officials.
With wild abandon he chased crooked acquittals for the likes of Pat Marcy, an Al Capone protégé, who had become the Mob’s key political operative; ruthless Mafia Capo and gambling czar Marco D’Amico; and notorious hit man Harry Aleman. He dined with Mob bosses and shared “last suppers” with friends before their gangland executions. Cooley watched as Marcy and the Mob controlled the courts, the cops, and the politicians. Then, in a startling act of conscience, he walked into the office of the U.S. Organized Crime Strike Force and, without a pending conviction or a hit man on his tail, agreed to wear a wire on the same Mafia overlords who had made him a player.
WHEN CORRUPTION WAS KING- http://www.amazon.com/When-Corruption-Was-King-Chicago/dp/0786713305 nbsp; |
|
|
|
|
|
|
Further Class Action Lawsuits Filed for Depakote Side Effects
Marketing |
2011/05/09 09:01
|
The Consumer Justice Foundation, a free online resource for those who are struggling with legal or personal injury issues in relation to insurance companies and/or large corporations, hereby announces that Depakote class action lawsuits have been filed by plaintiffs in St. Clair County, Illinois against the manufacturer of Depakote, Abbott Laboratories. These Depakote lawsuits, which carry the case numbers of St. Clair County Circuit Court Case No. 10-L-651 and St. Clair County Circuit Court Case No. 11-L-143, respectively, seek damages for the classes of plaintiffs that would be used to compensate them for medical expenses incurred and future costs that will be incurred in caring for those who have been harmed as a result of using Depakote.
The Depakote class action lawsuits mentioned above involve claims regarding pregnant mothers who used Depakote while pregnant. Depakote is generally used by people in order to help them treat the symptoms of seizure disorders that include migraine headaches, epilepsy and the manic episodes associated with bipolar disorder.
Unfortunately, parents around the United States have claimed that using Depakote while pregnant can lead to the possibility of children of mothers who used this medication while pregnant being born with severe birth defects. Examples of these alleged Depakote birth defects have included spina bifida, neural tube malformations, heart defects and brain defects.
The lawsuits that have been filed against Abbott Laboratories claim that the company knew of the risks of the use of one specific active ingredient, known as valproic acid and its tendency to raise the risk of birth defects developing in children of mothers who ingested this substance during the early stages of a pregnancy.
These Depakote class action lawsuits further claim that Abbott Laboratories misled doctors and the public in general by downplaying these known risks, and that this downplaying of these potential risks led to the harm suffered by the children who were born with these birth defects. Plaintiffs in these Depakote class action lawsuits are seeking compensation for medical expenses and future costs of care. |
|
|
|
|
|
|
The US Supreme Court's Sanctions Injustice
Marketing |
2011/04/08 12:05
|
The INSIDER EXCLUSIVE will produce a Network TV Special on this tragic story of Injustice... detailing the illegal activities of the New Orleans DA's Office, and examine the mindset of the five Justices who sanction prosecutorial misconduct in America today.... putting innocent people in jail.
Injustice Anywhere is a Threat to Justice Everywherenbsp; - as John Thompson personally tells his own nightmare story of injustice.
Last month, the Supreme Court decided 5-4 to overturn a case John had won against Harry Connick Sr's New Orleans DA Office who oversaw his case, ruling that they were not liable for the failure to turn over that evidence — which included proof that blood at the robbery scene wasn’t John Thompson's.
The prosecutors involved in his two cases, from the office of the Orleans Parish district attorney, Harry Connick Sr., helped to cover up 10 separate pieces of evidence. And most of them are still able to practice law today.
In addition, of the six men one of John's prosecutors got sentenced to death, five eventually had their convictions reversed because of prosecutorial misconduct.
In America today......This could happen to younbsp;
Because of that, prosecutors are free to do the same thing to someone else today.
Read John's personal NY Times Opinion essay The Prosecution Rests, but I Can’t.... and remember Injustice Anywhere is a Threat to Justice Everywhere.
a href=http://www.nytimes.com/2011/04/10/opinion/10thompson.html?pagewanted=2amp;src=ISMR_AP_LO_MST_FBhttp://www.nytimes.com/2011/04/10/opinion/10thompson.html?pagewanted=2amp;src=ISMR_AP_LO_MST_FB/a
Please visit John's website:nbsp; Resurrection After Exoneration nbsp; a href=http://www.r-a-e.org/homehttp://www.r-a-e.org/home/a |
|
|
|
|
|
|
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 |
|
|
|
|
|
Legal News RSS Feed
