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Federal Court of Canada Certifies Class Action
Topics in Legal News |
2011/11/28 09:39
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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.
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Thomas, Kagan asked to sit out health care case
Court News |
2011/11/28 09:38
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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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Supreme Court won't hear skycaps' appeal on tips
Court Watch |
2011/11/28 09:37
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The Supreme Court has left in place a ruling that denied $333,000 to airport skycaps who claimed they were cheated out of tips when American Airlines started charging curbside baggage fees.
The court on Monday rejected an appeal from nine skycaps at Logan International Airport in Boston. They wanted the court to review a federal appeals court ruling that overturned a lower court decision in their favor.
The skycaps sued under a Massachusetts law aimed at preventing employers from keeping tips intended for workers. The 1st U.S. Court of Appeals in Boston held that the law was pre-empted by federal aviation law regulating airfares. The court also said that soon after institution of the baggage fee, American Airlines clearly indicated with signs that the $2 fee was not a tip. |
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Federman & Sherwood Announces Class Action Lawsuit
Securities Class Action |
2011/11/21 09:29
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On November 16, 2011, a class action lawsuit was filed in the United States District Court for the Central District of California against Keyuan Petrochemicals, Inc. The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material misrepresentations to the market which had the effect of artificially inflating the market price. The class period is from August 16, 2010 through October 7, 2011.
Plaintiff seeks to recover damages on behalf of the Class. If you are a member of the Class as described above, you may move the Court no later than Tuesday, January 17, 2012, to serve as a lead plaintiff for the Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.
If you wish to discuss this action, participate in this or any other lawsuit, or have any questions or concerns regarding this notice, or preservation of your rights, please contact: www.federmanlaw.com
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Stocks plunge as debt talks near collapse
Stock Market News |
2011/11/21 09:29
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Stocks are plunging at midday after Congress' latest bid to resolve the federal budget gridlock appeared to fail.
The Dow Jones industrial average is down 327 points, or 2.8 percent, at 11,469 shortly before noon Eastern. The Standard & Poor's 500 index is down 31, or 2.5 percent, at 1,185. The Nasdaq composite index is down 67, or 2.6 percent, at 2,506.
A 12-member bipartisan panel was assigned to cut $1.2 trillion from the federal deficit by Wednesday. The panel appeared ready to admit failure on Monday. That could lead to broad, automatic cuts from military and social spending.
Uncertainty about government spending drags on the economy because the private sector is growing so slowly. Traders also fear that Europe's debt crisis might spill over, disrupting the fragile U.S. recovery.
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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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