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A Class Action Has Been Filed Against GNC
Headline Legal News |
2012/02/22 10:01
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Abbey Spanier Rodd & Abrams, LLP announces that a class action lawsuit has been filed against General Nutrition Centers, Inc. ("GNC"), Cellucor Sports Nutrition, Woodbolt Distribution, Ltd, Woodbolt Management LLC and Woodbolt International for, among other things, violations of the California Consumer Leal Remedies Act, the California False Advertising Law, and the California Unfair Competition Act. This action, filed in the United States District Court, Central District of California (Civil Action No. 12-1336), has been brought as a class action on behalf of all persons in the United States who purchased Cellucor's C-4 Extreme at any time during the four years prior to the filing of this lawsuit (the "Class Period").
The complaint alleges that during the Class Period, Defendants engaged in an illegal and deceptive practice of promoting, marketing, distributing and/or selling C-4 Extreme as a natural dietary supplement when, in fact, C-4 Extreme contains a dangerous substance known by many names, including "1,3 Dimethylamylamine," "1,3 Dimethylhexaneamine HCl," "1,3 Dimethylhexaneamine," "Methylhexaneamine," and "Geranamine" (known as "DMAA"). Plaintiff alleges that Defendants failed to disclose that the DMAA contained in C-4 Extreme is wholly synthetic, manufactured and not derived from the geranium plant.
At the time Plaintiff and the class of consumers purchased and used C-4 Extreme, they were unaware that C-4 Extreme contained the synthetic and dangerous stimulant DMAA and that DMAA was not derived from the geranium plant or any other natural source. Plaintiff alleges that the DMAA contained in C-4 Extreme is a synthetic product that is illegal and dangerous and has dangerous side effects. The safety concerns associated with DMAA have been well-documented, including concerns that DMAA is a dangerous and addictive substance that can cause headache, nausea and stroke. Experts have noted that DMAA has a chemical structure similar to amphetamines and ephedrine and can cause increases in heart rate and blood pressure and even death.
www.abbeyspanier.com |
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Robbins Geller Rudman & Dowd LLP Files Class Action
Securities Class Action |
2012/02/22 10:01
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Robbins Geller Rudman & Dowd LLP today announced that a class action has been commenced in the United States District Court for the Northern District of Illinois on behalf of purchasers of BioSante Pharmaceuticals, Inc. securities during the period between February 8, 2010 and December 15, 2011.
If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from February 6, 2012. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Darren Robbins 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/biosante/. 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 BioSante and its Chief Executive Officer with violations of the Securities Exchange Act of 1934. BioSante is a specialty pharmaceutical company focused on developing products for female sexual health and oncology.
The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the commercial viability, effectiveness, and market potential for LibiGel, a drug designed to improve the sex drive of women suffering from female sexual dysfunction, and specifically hypoactive sexual desire disorder (“HSDD”). Defendants boasted about LibiGel’s efficacy over placebo in clinical trials, and provided supposedly concrete “data” regarding the drug’s “statistically significant” effect on increasing the “number of satisfying sexual events” for women suffering from HSDD. As a result of these false statements, BioSante’s stock traded at artificially inflated prices during the Class Period, reaching a high of $3.81 on July 12, 2011.
On December 14, 2011, BioSante issued a press release disclosing for the first time to investors that LibiGel failed to yield positive results in large-scale efficacy tests designed by the Company. According to the clinical trial results, women treated with LibiGel did not experience a statistically significant increase in either total satisfying sexual encounters or sexual desire. In fact, in the double-blind, placebo-controlled trial, LibiGel did not fare significantly better than the placebo. On this news, BioSante’s stock collapsed $1.64 per share to close at $0.48 per share on December 15, 2011, a one-day decline of 77% on volume of nearly 50 million shares.
According to the complaint, the true facts, which were known by the defendants but concealed from the investing public during the Class Period, were as follows: (a) LibiGel’s efficacy was well short of that required to obtain FDA approval; and (b) LibiGel failed to yield statistically superior results to placebo.
Plaintiff seeks to recover damages on behalf of all purchasers of BioSante securities during the Class Period (the “Class”). The plaintiff is represented by Robbins Geller, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.
Robbins Geller, a 180-lawyer firm with offices in San Diego, San Francisco, New York, Boca Raton, Washington, D.C., Philadelphia and Atlanta, is active in major litigations pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations.
www.rgrdlaw.com |
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Court says police cannot be sued over warrant
Headline Legal News |
2012/02/22 09:54
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The Supreme Court said Wednesday that California police officers cannot be sued because they used a warrant that may have been defective to search a woman's house.
The high court threw out the lawsuit against Los Angeles County Sheriff's Detective Curt Messerschmidt and other police officials, who were being sued personally by Augusta Millender for the search on her house and confiscation of her shotgun.
Police were looking for her foster son, Jerry Ray Bowen, who had recently shot at his ex-girlfriend with a black sawed-off shotgun. She told police that he may be at his foster mother's house, so Messerschmidt got a warrant to look for any weapons on the property and gang-related material, since Bowen was supposed to be a member of the Mona Park Crips and the Dodge Park Crips. The detective had his supervisors approve the warrant before submitting to the district attorney and a judge, who also approved the warrant. |
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Law Firm Brower Piven Announces Investigation
Securities Class Action |
2012/02/21 10:05
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The law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of CH Energy Group, Inc. and other violations of state law by the board of directors of CH Energy Group relating to the proposed acquisition of the company by Fortis Inc. The firm's investigation seeks to determine, among other things, whether the board breached its fiduciary duties by failing to maximize shareholder value.
On February 21, 2012, Fortis announced that it had entered into an agreement providing for Fortis to acquire CH Energy Group for $1.5 billion. Under the terms of the merger agreement, CH Energy Group shareholders will receive $65.00 for each share of CH Energy Group common stock held. However, according to Yahoo! Finance, at least one analyst has set a high price target of $69.00 per share.
If you currently own shares of CH Energy Group and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions.
www.browerpiven.com |
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Indianapolis Business and Trial Lawyer - Bryce H. Bennett, Jr.
Attorney News |
2012/02/21 10:05
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Since 1978, Bryce Bennett has represented businesses, including insurance companies, product manufacturers, construction contractors, real estate and development companies, hospitals, nursing homes, and transportation companies as well as professionals, including doctors, lawyers, insurance and real estate agents, professional and fraternal associations, political subdivisions and municipalities including the City of Indianapolis in thousands of matters, many litigated to conclusion through dispositive motions, negotiated settlements, mediations, arbitrations and numerous bench and jury trials in State and Federal courts.
Bryce H. Bennett, Jr. is an experienced director of business entities, serving in leadership positions on many corporate and non-profit boards. Mr. Bennett was recognized for his work and was the keynote speaker for Indiana University Kelley School of Business MBA graduates and has been published and acknowledged in an article in the Indiana Lawyer. His experience representing businesses have shown favorable results for his clients. Contact Riley Bennett & Egloff, LLP today to schedule a free consultation.
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Investment Fraud Litigation |
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Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
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The content contained on the web site has been prepared by Securities Law News as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case. | Affordable Law Firm Website Design by Law Promo |
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