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The Rosen Law Firm Announces Class Action Lawsuit Against JBI, Inc.
Press Release |
2011/08/01 09:02
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The Rosen Law Firm, P.A. announces that a class action lawsuit for violations of the federal securities laws has been filed against JBI, Inc. /quotes/zigman/573088 JBII +5.11% based on allegations that the company issued materially misleading financial statements to the investing public. If you purchased JBI stock during the period from August 28, 2009 to July 20, 2011 you can join the class action and seek to recover your investment losses.
To join the JBI class action, visit the firm's website at http://www.rosenlegal.com , or call Jonathan Horne, Esq., toll-free, at 866-767-3653; you may also email jhorne@rosenlegal.com for information on the class action. The case is pending the U.S. District Court for the District of Nevada.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
The Complaint alleges that JBI materially overstated its income in connection with its acquisition of JavaCo, Inc. in 2009. As part of the transaction JBI exchanged 1 million shares of its stock for $9,997,134 worth of media credits. The Complaint alleges that JBI's financial statements were false and misleading because (1) the media credits acquired by the Company in connection with the acquisition of JavaCo were substantially overvalued; (2) that the Company was improperly accounting for acquisitions; (3) that, as such, the Company's financial results were not prepared in accordance with Generally Accepted Accounting Principles ("GAAP"); (4) that the Company lacked adequate internal and financial controls; and (5) that, as a result of the above, the Company's financial statements were materially false and misleading at all relevant times.
On May 21, 2010, JBI disclosed that its previously issued financial statements for the 2009 fiscal year and third quarter should no longer be relied upon. On July 14, 2011, the Securities and Exchange Commission advised the Company that it was recommending enforcement action against it and possibly one or more of its former officers in connection with the Company's issuing materially inaccurate financial statements.
News that JBI was required to restate its financial statements and was subject to an SEC enforcement action for violation of the federal securities laws has caused its stock price to drop substantially, damaging investors.
You may participate in the securities class action lawsuit to recover your investment losses. If you purchased JBI stock, please visit the website at http://rosenlegal.com to participate in the class action and to obtain more information. You may also contact Laurence Rosen or Phillip Kim of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at or lrosen@rosenlegal.com or pkim@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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2011 Chambers USA Guide Ranks 9 Greenberg Traurig Phoenix Attorneys
Press Release |
2011/06/24 22:30
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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:
Brian H. Blaney - Corporate/M&A
Rebecca Lynne Burnham - Real Estate
Robert S. Kant - Corporate/M&A
Leslie Klein - Labor & Employment: Employee Benefits & Compensation
Bruce E. Macdonough - Corporate/M&A
Daniel B. Pasternak - Labor & Employment
Lawrence J. Rosenfeld - Labor & Employment
Lesa J. Storey - Real Estate
Quinn Williams - Corporate/M&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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David Boies Urges ABA Members
Press Release |
2010/08/08 08:48
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David Boies challenged America’s lawyers to “bring the rule of law to its full fruition here in this country … to fulfill the goals and lofty rhetoric of our founding fathers,” as the keynote speaker at the Opening Assembly of the 2010 ABA Annual Meeting in San Francisco. The rule of law was the assembly theme, as ABA members gathered in the Herbst Theater of the War Memorial Veterans Building, site of the signing of the charter of the United Nations in 1945. President Carolyn B. Lamm pointed to ABA efforts from activities of the Section of International Law to such projects as the Central European and Eurasian Law Initiative, the Rule of Law Initiative and the World Justice Project as advancing United Nations goals to spread democracy based on law around the world. Boies, co-counsel with Ted Olson in winning a federal district court ruling Wednesday that overturned California’s Proposition 8, cited “numerous challenges to the rule of law in our own country,” in applying that theme at home. When our nation was born, it consisted of “wes” and “theys,” Boies said, with the “wes” being white male property owners and the “theys” comprising everyone else. As the national history unfolded, the circle of “wes” expanded to encompass more and more segments of society. “We have an opportunity to expand the circle of ‘wes’ until there are no more ‘theys,’” said Boies, urging lawyers to work toward ensuring that “liberty and equality and protection of individual rights is something that every citizen equally enjoys.” To achieve that goal, Boies identified four challenges confronting his audience. First, he suggested the rule of law works best when adversaries have equivalent resources, whether those resources are plentiful or sparse. But the “time when our system tends to break down is when one party has tremendous resources and the other party does not.” Those are the times that “threatened to undermine the protections of the rule of law… [and lawyers] need to find ways to reduce the imbalance,” he said. He urged reducing procedural advantages that favor the “better resourced party,” and urged lawyers to not “use discovery as a war of attrition,” for example.
Second, he called for “better tools to help juries” decide important but complex cases, such as allowing jurors to ask questions and take notes on testimony. His third challenge was to “improve judges and the judicial machinery,” citing a “crisis in terms of financing the justice system in the United States.” First year associates in his law firm are paid higher salaries than federal district court judges, and state court judges earn even less, he said. “If we can’t afford to spend a fraction of what we are spending to expand that system to Iraq, something is wrong with our sense of priorities,” he maintained. All lawyers must stand up for the independence of judges, resisting threats to their safety when they make unpopular decisions, said Boies, noting that there already have been threats to harm the judge who ruled in the Proposition 8 litigation. Boies’ cited predictably equal application of the law without regard to the identity of the parties as the final challenge to the rule of law, saying that when rights depend on who is asserting them, “the rule of law is undermined.” |
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Premier's Lawsuit With Bank of America Settled
Press Release |
2010/07/19 09:29
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Premier Information Management, Inc. (PINKSHEETS: PIFR) is pleased to announce the pre-jury trial settlement of its lawsuit against Bank of America. Both parties entered into a settlement conference which eventually resulted in a court ordered settlement.
A leading and key part of the settlement was non-disclosure of any details or terms regarding the settlement by either party to the public. As such at this time, neither Premier nor Bank of America can publicly release any information regarding this matter.
"Premier is very glad to conclude this lawsuit sooner than we thought and that leaves us in a position to focus on the business and more aggressively take Premier forward," said CEO Tom Miller.
"Although we cannot be specific about the terms of the settlement, I think it is only fair to note that as with most settlements brought about by mediation, neither party was absolutely satisfied with the result, but Premier can now refocus significant resources to the real business at hand," said David Stothart.
Premier expects to be making additional related news releases over the coming weeks including more on the process of partnering with a market maker which the company understands has been frustrating for investors.
About Premier Information Management, Inc. Premier Information Management, Inc. provides business critical information to the global Insurance and Healthcare industries by integrating fast and efficient database driven electronic content management systems to reduce and manage costly risk. Utilizing proprietary software with specially integrated modules, Premier realizes significant increases in data-in/out-report efficiencies delivering decision-critical reports significantly faster than the industry standard. Utilizing the most secure, flexible, and cost effective means to capture, manage and transmit sensitive information, Premier's EDI solutions are the new standard in the information management industry.
For more information, including company news and investor relations information, visit the company's website at: www.premierinformationmanagement.com |
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The Lanier Law Firm Investigating 401(k) Retirement Plan for BP Employees
Press Release |
2010/06/28 08:44
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The Lanier Law Firm is investigating possible legal claims related to a 401(k) retirement plan for U.S. employees of energy giant BP /quotes/comstock/13*!bp/quotes/nls/bp. The law firm believes there are potential violations of the Employee Retirement Income Security Act of 1974 ("ERISA") by those in charge of BP's retirement plan, which is known as the BP Employee Savings Plan ("ESP"). The Lanier Law Firm has maintained a prominent role in the BP litigation since filing one of the nations' first class-action lawsuits against BP following the April 20 explosion on the Deepwater Horizon drilling rig in the Gulf of Mexico. BP has yet to stop the millions of gallons of crude oil currently spewing into the gulf. "BP not only disregarded important safety rules, they also took unbelievably unnecessary risks, which is why people are facing one of the worst environmental and financial disasters in history," says attorney Evan Janush of The Lanier Law Firm. "There are laws designed to protect employees from the precise, devastating scenario facing a lot of workers at BP." At the end of 2009, BP's U.S. Employee Savings Plan had more than $2 billion invested in BP stock. Since the explosion and eruption of oil, BP's stock price has fallen by approximately half, accounting for more than $100 billion in lost stock value. The retirement plans for many company employees are tied to the stock, costing them what is believed to be hundreds of millions of dollars. The Lanier Law Firm founder Mark Lanier, who recently was named by The National Law Journal as one of the most influential attorneys in the nation during the past decade, says the people responsible for BP's 401(k) plan knew or should have known about the company's inability to provide a safe work environment on the Deepwater Horizon, as well as its inability to contain the massive release of oil -- two factors that have contributed heavily to the downturn in BP's stock price. The law firm has identified several potential legal claims for participants in the BP Employee Savings Plan whose accounts included units from the BP stock fund. Learn more at www.lanierlawfirm.com. About The Lanier Law Firm With offices in Los Angeles, Palo Alto, Houston and New York, The Lanier Law Firm is committed to addressing client concerns with effective and innovative solutions in courtrooms across the country. The firm is composed of outstanding trial attorneys with decades of experience handling cases involving oil & gas law, maritime law and ERISA litigation. |
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