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Judge rules against NYC court protest organizers
Court News | 2012/01/20 10:11
A judge has ruled demonstrators don't have a First Amendment right to protest Friday afternoon in front of a New York City federal courthouse that has hosted several major terrorism trials.

Judge Lewis Kaplan said Thursday he wouldn't order the federal government to let an Occupy the Courts demonstration occur outside the lower Manhattan courthouse. He says the space isn't a public forum and the government acted reasonably in denying a permit.

A government lawyer says the courthouse poses unique security concerns in part because of terrorism fears.

Protest organizers had asked the judge to overturn the General Services Administration's rejection of their permit application. Their lawsuit said their First Amendment rights were violated.

The nationwide protest marks the second anniversary of a U.S. Supreme Court ruling against limits on spending by independent organizations.



Court throws out judge-drawn Texas electoral maps
Court Watch | 2012/01/20 05:12
The Supreme Court on Friday threw out electoral maps drawn by federal judges in Texas that favored minorities. The decision ultimately could affect control of the U.S. House of Representatives and leaves the fate of Texas' April primaries unclear.

The justices ordered the three-judge court in San Antonio to come up with new plans that pay more attention to maps created by Texas' Republican-dominated state Legislature. All four of the state's new congressional seats could swing based on the outcome.

But the Supreme Court did not compel the use of the state's maps in this year's elections, as Texas wanted. Only Justice Clarence Thomas said he would have gone that far.

The court's unsigned opinion thus did not blaze any new trails in election law or signal retreat from a key provision of the Voting Rights Act, as some supporters of the law feared would result from this case.

Still, the outcome appeared to favor Republicans by instructing the judges to stick more closely to what the Legislature did, said election law expert Richard Hasen, a professor at the University of California, Irvine, law school.


Securities Class Action Filings Increase Slightly in 2011
Topics in Legal News | 2012/01/19 10:12
Federal securities fraud class action filing activity increased slightly in 2011, according to Securities Class Action Filings—2011 Year in Review, a semiannual report prepared by the Stanford Law School Securities Class Action Clearinghouse in cooperation with Cornerstone Research. A total of 188 federal securities class actions were filed in 2011 compared with 176 filings in 2010, with an equal number of actions (94) being filed in the first and second halves of the year. The number of class actions filed was 3.1 percent below the annual average of 194 filings observed between 1997 and 2010.

Consistent with a trend first observed in 2010, filings related to merger and acquisition (M&A) transactions continued to constitute a large percentage of total filings, accounting for 22.9 percent of 2011 activity. There were 20 such filings in the first half of 2011 and 23 filings in the last six months of the year. In 2010, M&A filings constituted 22.7 percent of all filings.

Litigation against Chinese issuers listed on U.S. exchanges through reverse mergers represented a major component of filings activity during 2011, although evidence indicates that this type of litigation is subsiding. In 2011, 33 such actions were filed, constituting 17.6 percent of all federal securities class actions. This activity occurred predominantly in the first half of the year, when 24 of these actions were filed; only nine were brought in the last six months, including five filed in the last three months of the year. In contrast, there were only nine such cases filed during 2010, suggesting both a rapid peak and decline in this type of litigation activity. Compared to other class action securities fraud complaints, Chinese reverse merger filings are more likely to allege violations of generally accepted accounting principles and financial restatements and are less likely to allege insider trading.


California high court to consider pot dispensaries
Court Watch | 2012/01/19 10:12
The state's high court will attempt to clarify marijuana's hazy legal status in California.

The California Supreme Court on Wednesday voted unanimously to review how cities and counties regulate marijuana dispensaries.

The court will address whether local governments can bar the pot shops despite voter passage of Proposition 215, which legalized marijuana use with a doctor's recommendation.

The court also will consider the continued conflict between state and federal authorities, who don't recognize Proposition 215. Under federal law, marijuana is illegal in all forms.

An appellate court last year struck down Long Beach's attempt to license pot stores, ruling that the local ordinance conflicted with federal law. Another appellate court upheld Riverside's right to close and prohibit dispensaries.


Izard Nobel LLP Announces Class Action Lawsuit
Securities Class Action | 2012/01/18 10:09
The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Southern District of Ohio on behalf of purchasers of the common stock of Chemed Corporation between February 15, 2010 and November 16, 2011.

The Complaint alleges that Chemed and certain of its officers and directors violated federal securities laws. Specifically, defendants failed to disclose the following adverse facts: (i) Chemed billed Medicare for hospice services for ineligible patients and fraudulently shifted the costs of those patients from health maintenance organizations that covered those patients prior to enrollment in hospice to the government; (ii) that a significant portion of the Company's revenues were the result of defendants' scheme to enroll ineligible patients in hospice and fraudulently bill Medicare; (iii) that, in a sealed complaint, a former VITAS manager accused Chemed of wrongfully enrolling ineligible patients in hospice; and (iv) Chemed's financial results were materially overstated.

On November 16, 2011, a Bloomberg article disclosed that a former VITAS manager had accused Chemed of defrauding the government by conspiring with health insurers to enroll Medicare patients who were not dying into hospice. The article also discussed a U.S. Department of Justice investigation into fraudulent conduct by VITAS. On this news, shares of Chemed fell $6.87 to close at $50.65 per share.

If you are a member of the class, you may, no later than March 12, 2012, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.

While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, and your rights, visit: www.izardnobel.com/chemed/, or contact Izard Nobel LLP toll-free: (800)797-5499, or by e-mail: firm@izardnobel.com. For more information about class action cases in general, please visit our website: www.izardnobel.com.


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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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