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Glancy Binkow & Goldberg LLP Announces Class Action
Securities Class Action |
2012/03/02 10:18
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Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York, on behalf of purchasers of CNOOC Limited American Depositary Shares between January 27, 2011 and September 16, 2011, inclusive, seeking to pursue remedies under the Securities Exchange Act of 1934. CNOOC, through its subsidiaries, engages in the exploration, development, production and sale of crude oil, natural gas and other petroleum products. The Company owns oil and natural gas properties in Asia, Oceania, Africa, the Americas and offshore China – including the Penglai 19-3 (“PL19-3”) oilfield situated in northern China’s Bohai Bay.
The Complaint alleges that defendants misrepresented or failed to disclose material adverse facts about the Company’s business and financial results, including that: (i) the Company was not in compliance with environmental laws and regulations; (ii) the Company concealed the extent and severity of oil spills that occurred at the PL19-3 oilfield in June 2011; (iii) as news of the oil spills emerged, the Company downplayed its responsibility to effect the cleanup of the oil spills, portrayed itself as being the “non-operator” of the oilfield and, moreover, hindered the cleanup by requiring the operator of the oilfield to use a CNOOC-affiliated company for the cleanup; (iv) the Company improperly accounted for its contingent liabilities in violation of Generally Accepted Accounting Principles (“GAAP”); and (v), based on the foregoing, defendants lacked a reasonable basis for their positive statements about the Company’s operations and its expected oil production.
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. If you purchased the ADSs of CNOOC between January 27, 2011 and September 16, 2011, you have certain rights, and have until April 29, 2012 to move for lead plaintiff status. To be a member of the class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent class member.
www.glancylaw.com
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Indianapolis Business Litigation Law Firm
Attorney News |
2012/03/02 10:18
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Whether they be fast-moving injunction proceedings or complex partnership disputes, clients bring their high-stakes business disputes to us.
Contract Disputes
Contract disputes are perhaps the most common form of disputes in business litigation. Ideally, every contract would be in writing and well-drafted. However, not all contracts are in writing, and even those that are written may not be well-drafted, leaving some issues unclear or not addressed at all. Often contract disputes involve these and other complex factual and legal issues. That’s where our commercial litigation attorneys excel.
Riley Bennett & Egloff Law is an Indianapolis based Business Litigation Law Firm and has expertise in resolving hundreds of contract disputes through negotiation, mediation, and litigation. Whether your disputes are simple or complex, their experience consistently guides their approach to successfully help resolve the matter in the careful manner it deserves. Visit www.rbelaw.com for more information.
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Back Pay Award Reduced Based on Laches in Class Action
Opinions |
2012/03/01 10:20
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The Indiana Supreme Court recently decided what could prove to be a landmark decision on the doctrine of laches in Richmond State Hospital v. Brattain, Cause No. 49S02-1106-CV-327. If you are dealing with a case involving laches, this decision is a must read.
In this class action, employees who worked in "state institutions" claimed that the State had breached its contractual duty to provide equal pay for equal work by requiring that they work 40 hours per week for the same pay as employees in "state offices" who were only required to work 37.5 hours per week. The trial court found in favor of the employees and awarded 20 years of back pay, amounting to $42,422,788. The Court of Appeals reduced that award substantially by limiting back pay to a few months for merit employees but for non-merit employees, affirmed a recovery for 20 years of damages or about $18.7 million.
The Indiana Supreme Court granted transfer and then failed to reach a majority on numerous issues, dividing 2-2. Justice Sullivan did not participate, presumably because he served as State Budget Director during the period in dispute. As a result of the 2-2 split, the Supreme Court summarily affirmed the Court of Appeals on the merit employees' claims. As to the non-merit employees, the Supreme Court was able to reach a consensus, largely in favor of the State's laches defense.
http://www.indianalawupdate.com/entry/Back-Pay-Award-Reduced-Based-on-Laches-in-Class-Action
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House acts against high court on eminent domain
Court News |
2012/02/29 09:41
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The House sought Tuesday to undercut a 2005 Supreme Court ruling that gives state and local governments eminent domain authority to seize private property for economic development projects.
Sponsors of the bill, which passed by a voice vote, said it was needed because the 5-4 high court ruling skewed constitutional intentions that eminent domain apply only to land for public use projects.
That ruling, said bill cosponsor Rep. James Sensenbrenner, R-Wis., justified "the government's taking of private property and giving it to a private business for use in the interest of creating a more lucrative tax base." As a result, he said, the "government's power of eminent domain has become almost limitless, providing citizens with few means to protect their property."
His legislation would withhold for two years all federal development aid to states or locales that take private property for economic development. It also bars the federal government from using eminent domain for economic development purposes and gives private property owners the right to take legal action if provisions of the legislation are violated. |
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Sydney Criminal Lawyers - Sydney criminal defence lawyers
Law Firm News |
2012/02/28 10:21
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Sydney Criminal Lawyers are a team of professional, experienced and highly respected specialist criminal and traffic defence lawyers. With two offices located in Sydney's Downing Centre Courts, our team of attorneys consistently achieve outstanding results in different criminal cases throughout the NSW area. We are the only criminal law firm to offer an "Accredited Specialist Guarantee" which means we will represent you on all important court days by the very best criminal or traffic lawyer in our firm. Additionally, we offer a great fixed fee-no hidden costs for our clients who are on a budget. Sydney Criminal Lawyers is the only accredited criminal law firm to offer these fixed fees for a wide range of criminal law services. Our results speak for themselves and we are the legal experts here to defend for your freedom to get you back on the road and on with your life as soon as possible.
At Sydney Criminal Lawyers, their attorneys have extensive experience in a wide range of criminal cases. With their comprehensive knowledge of drink driving, drug, and assault laws, their ability to defend their clients and win criminal cases have shown a proven track record. They care and understand how important a clean record is and will fight for their clients to secure favorable results. We have a winning attitude that will help ease your stresses.
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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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