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Faruqi & Faruqi, LLP Files Class Action Lawsuit
Legal Business |
2011/12/15 11:35
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Notice is hereby given that Faruqi & Faruqi, LLP has filed a class action lawsuit in the United States District Court for the Southern District of New York on behalf of all persons who purchased or acquired GLG Life Tech Corporation securities on the NASDAQ between February 1, 2011 and November 13, 2011 inclusive.
A copy of the complaint can be viewed on the firm’s website at http://www.faruqilaw.com/GLG
GLG and certain of its officers are charged with issuing a series of materially false and misleading statements in violation of Section 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. Specifically, the complaint alleges that defendants failed to inform investors: (1) the truth surrounding GLG’s production issues; (2) the poor consumer response to the Company’s AN0C and stevia products; and (3) that the Company would not meet its February 1, 2011 earnings projections.
On October 6, 2011, the Company disclosed for the first time a negative business outlook associated with its stevia and AN0C products, causing GLG stock to drop 42% by the close of business. Subsequently, on November 14, 2011, GLG announced disappointing financial results for the fiscal quarter ending September 30, 2011 and refused to provide any further guidance on future performance.
Plaintiff now seeks to recover damages on behalf of himself and all other investors who purchased or acquired GLG securities on the NASDAQ between February 1, 2011 and November 13, 2011, excluding defendants and their affiliates. Plaintiff is represented by Faruqi & Faruqi, LLP, a national securities law firm with extensive experience in prosecuting class actions and actions involving corporate fraud.
If you wish to obtain information concerning joining this action, you can do so under the “Join Lawsuit” section of our website or by clicking here: http://www.faruqilaw.com/GLG
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Scott+Scott LLP Announces Securities Class Action
Legal Business |
2011/11/29 09:52
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On November 28, 2011, Scott+Scott LLP filed a class action complaint against The Cooper Companies, Inc. and certain of the Company's senior officers and directors in the U.S. District Court for the Northern District of California. The action for violations of the Securities Exchange Act of 1934 is brought on behalf of those purchasing the common stock of Cooper between March 4, 2011 and November 15, 2011, inclusive.
If you purchased the common stock of Cooper during the Class Period and wish to serve as a lead plaintiff in the action, you must move the Court no later than 60 days from today. Any member of the investor class may move the Court to serve as lead plaintiff through counsel of its choice, or may choose to do nothing and remain an absent class member. If you wish to discuss this action or have questions concerning this notice or your rights, please contact Scott+Scott at (800) 404-7770, (860) 537-5537 or visit the Scott+Scott website http://www.scott-scott.com/cases/coopercos.html for more information. There is no cost or fee to you.
The complaint filed in the action alleges that, during the Class Period, Cooper issued false and misleading statements concealing known quality control problems and process defects at the Company's new overseas contact lens manufacturing facilities.
The complaint alleges that following the announcement of a small voluntary recall, the significance of which Cooper and its senior executives intentionally downplayed, on November 15, 2011, Cooper was forced to disclose a much larger product recall and to finally disclose the seriousness of the potential injuries. As the market learned the true extent of the Company's production issues, product safety defects and the harm to Cooper's reputation and product marketability, the Company's stock price declined precipitously. The class action seeks recovery under the federal securities laws for those who purchased Cooper's common stock between March 4, 2011 and November 15, 2011.
Scott+Scott has significant experience in prosecuting major securities, antitrust and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals and other entities worldwide.
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Thomas, Kagan asked to sit out health care case
Legal Business |
2011/11/28 09:41
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Conservative interest groups and Republican lawmakers want Justice Elena Kagan off the health care case. Liberals and Democrats in Congress say it's Justice Clarence Thomas who should sit it out.
Neither justice is budging — the right decision, according to many ethicists and legal experts.
None of the parties in the case has asked the justices to excuse themselves. But underlying the calls on both sides is their belief that the conservative Thomas is a sure vote to strike down President Barack Obama's health care law and that the liberal Kagan is certain to uphold the main domestic achievement of the man who appointed her.
The stakes are high in the court's election-year review of a law aimed at extending coverage to more than 30 million people. Both sides have engaged in broad legal and political maneuvering for the most favorable conditions surrounding the court's consideration of the case.
Taking away just one vote potentially could tip the outcome on the nine-justice court.
Republican lawmakers recently have stepped up their effort against Kagan, complaining that the Justice Department has not fully revealed Kagan's involvement in planning the response to challenges to the law. Kagan was Obama's solicitor general, the administration's top Supreme Court lawyer, until he nominated her to the high court last year. |
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Federal Court of Canada Certifies Class Action
Legal Business |
2011/11/27 09:41
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Branch MacMaster LLP and Hordo Bennett Mounteer LLP report that the Federal Court of Canada has certified the BIM Class Action against Business in Motion International Corporation and Alan Kippax. By order dated November 10, 2011 , Mr. Justice Rennie of the Federal Court officially certified the action on behalf of the national class, as represented by the Plaintiff, Mr. Mark Cuzzetto .
The lawsuit was initiated in May, 2010 against BIM and its principal, Alan Kippax. BIM operated a plan called the "Time Leverage System", recruiting representatives to sell "Perpetual Motion Products". The lawsuit alleges that the Defendants have been engaged in the operation of an unlawful multi-level marketing scheme and/or pyramid scheme contrary to the Competition Act. The class members seek damages for the money they paid to the Defendants.
Persons who have purchased the product and who wish to participate in the action do not need to do anything at this time. Persons who do not want to participate in the action must opt out by January 18, 2012 by completing the online form on the website.
Bim CLASS ACTION
DID YOU PURCHASE A PERPETUAL MOTION PRODUCT FROM OR THROUGH BUSINESS IN MOTION INTERNATIONAL CORPORATION? IF SO, PLEASE READ THIS CAREFULLY AS IT MAY AFFECT YOUR RIGHTS.
WHAT IS THIS CASE ABOUT?
A class action lawsuit has been certified in the Federal Court of Canada claiming that Business in Motion International Corporation and Alex Kippax ("BIM") ran an illegal pyramid scheme and an illegal multi-level marketing scheme. A copy of the Statement of Claim and Order certifying the action as a class proceeding can be found at www.BIMclassaction.com.
HOW WILL THE LAWSUIT PROCEED?
A trial will be held to determine the common issues in the action. If these issues are determine in favor of the class members, there might still need to be individual hearings to determine the entitlement of each class member to a refund.
WHAT DO I HAVE TO DO TO PARTICIPATE?
There is nothing you have to do right now. Unless you opt out, you will be bound by the result of the common issues trial. However, in order to make sure you are notified of any important developments in the action, we recommend you register on our website at www.BIMclassaction.com.
WHAT IF I DO NOT WANT TO PARTICIPATE IN THIS LAWSUIT?
If you do not want to be part of the class action, you must complete the online form at www.BIMclassaction.com. If you do not have access to the internet, please contact Ulla Herlev at Branch MacMaster LLP. You must complete the online form by no later than January 18, 2012 .
DO I NEED TO PAY ANYTHING?
You will only need to pay legal fees if the action is successful in obtaining you a refund of some of the monies you paid. Those legal fees will be paid directly from the refund you receive. You will not need to pay any legal fees out of your own pocket.
Any fee paid to the lawyers must be approved by the Court as being fair and reasonable. The fee agreement entered into by the representative plaintiff provides for the lawyers to be paid up to 1/3 of any amounts recovered or any benefit obtained from the class action. If and when this occurs, the lawyers will apply to Court for approval of that percentage or some lesser amount.
If the class action is unsuccessful at the common issues trial, you will not pay any legal fees.
WHO ARE THE LAWYERS FOR THE CLASS?
The lawyers for the class are:
BRANCH MACMASTER LLP
Barristers and Solicitors
1410 - 777 Hornby Street
Vancouver , BC V6Z 1S4
HORDO BENNETT MOUNTEER LLP
Barristers and Solicitors
1400 - 128 West Pender St.
Vancouver , BC V6B 1R8
Mark Cuzzetto (the representative plaintiff) has been appointed by the Court to instruct the lawyers for the common issues stage. The lawyers must act in the interest of all class members.
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Texas AG blasts court's redistricting maps
Legal Business |
2011/11/20 09:30
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Texas' attorney general sharply criticized a federal court Friday over its proposed maps for state House and Senate districts in the 2012 election, saying the judges overstepped their bounds.
The San Antonio-based federal court released the proposed redistricting maps late Thursday and gave those involved in the case until noon Friday to comment. Minority groups have filed a legal challenge to the Republican-drawn maps, saying they are discriminatory. The court's maps are intended to be an interim solution until the case is resolved after the 2012 elections.
Maps for the House and Senate released Thursday restore many of the minority districts — where Democrats hold the seats — to their previous shapes. Republican lawmakers have denied their maps were intended to minimize minority representation, and say they merely reflect the GOP majority in Texas. |
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