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Brower Piven, A Professional Corporation Announces Class Action
Securities Class Action |
2010/10/25 09:54
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Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the District of Nevada on behalf of purchasers of the securities of China Green Agriculture, Inc. during the period between November 12, 2009 and September 1, 2010, inclusive (the "Class Period"). No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than December 14, 2010 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You are not required to have sold your shares to seek damages or to serve as a Lead Plaintiff. The complaint charges China Green and certain of its officers and directors with violations of the Securities Exchange Act of 1934 by virtue of the Company's failure to disclose accurate financial information during the Class Period. According to the complaint, after it became known that China Green's comparable 2010 financial statements filed with Chinese authorities materially differed from the financial results set forth in the Company's SEC filings, the value of China Green stock declined significantly. If you have suffered a net loss for all transactions in China Green Agriculture, Inc. securities during the Class Period (including shares or possibly calls purchased during, but not sold until after the end of the Class Period or possibly put options sold but not covered until after the end of the Class Period), you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at hoffman@browerpiven.com, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 50 years. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class. |
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Lockheed Martin launches $3B stock buyback
Stock Market News |
2010/10/25 09:51
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The board of directors of Bethesda, Md.-based Lockheed Martin Corp. has approved a new $3 billion share repurchase program. Lockheed said that the shares may be purchased in the open market, or through privately negotiated transactions, and that the dollar amount of shares purchased and the timing of purchases would be at the discretion of management. Based on Friday’s closing price for Lockheed Martin stock of $71.78, the repurchase program could buy back approximately 41.8 million shares. Lockheed currently has approximately 360 million shares of common stock outstanding. The defense contractor, which has seen its stock price decline 40 percent in the last two years, said that the buyback demonstrated the company’s commitment to enhancing stockholder value through cash deployment. |
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Home sales up in Sept. but more troubles ahead
Headline Legal News |
2010/10/25 09:50
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Sales of previously occupied homes rose last month after the worst summer for the housing market in more than a decade. And fears over flawed foreclosure documents could keep buyers on the sidelines in the final months of the year. Sales grew 10 percent in September to a seasonally adjusted annual rate of 4.53 million, the National Association of Realtors said Monday. Home sales have declined 37.5 percent from their peak annual rate of 7.25 million in September 2005. They have risen from July's rate of 3.84 million, which was the lowest in 15 years. Most experts expect roughly 5 million homes to be sold through the entire year. That would be in line with last year's totals and just above sales for 2008, the worst since 1997. Still, sales could fall further if potential lawsuits from former homeowners claiming that banks made errors when seizing their homes make consumers fearful of buying foreclosed properties. The Federal Reserve on Monday become the latest government regulator to announce it would be looking into whether mortgage companies cut corners on their own procedures when seizing homes. Chairman Ben Bernanke said the Fed would look intensively to see if policies, procedures or internal controls led lenders to improperly foreclosure on homeowners. Preliminary results of an in-depth report are expected to be released next month.
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Milberg LLP Announces the Filing of a Securities Fraud Class Action
Securities Class Action |
2010/10/20 10:45
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A class action lawsuit was filed on September 3, 2010, in the United States District Court for the Central District of California on behalf of purchasers of Beckman Coulter, Inc. securities during the period from July 31, 2009, to July 22, 2010. The complaint alleges that Beckman and certain of its officers violated the Securities Exchange Act of 1934 by not disclosing that it modified its troponin test kits without proper FDA approval, requiring a recall, and that it did not disclose the adverse financial impact from quality and compliance issues relating to its troponin test kits. The FDA sent a warning letter on June 21, 2010, criticizing Beckman for selling an "adulterated," "misbranded," and "unapproved" version of its troponin test kits. On July 22, 2010, Beckman slashed its 2010 earnings outlook, blaming the recall. On July 23, 2010, shares of Beckman fell $12.59 per share, a decline of 21% on heavy volume. If you purchased Beckman securities during the Class Period, you may, no later than November 2, 2010, file a motion with the Court to appoint you lead plaintiff. A lead plaintiff is a representative party that directs the litigation, and will be the movant that the Court determines to have the largest financial interest in the litigation with claims typical of those of other class members and the ability to adequately represent the class. Your share in any recovery will not be enhanced by serving as a lead plaintiff. You do not need to move for lead plaintiff to recover as an absent class member. You may retain Milberg LLP, or other attorneys, for this action, but do not need to retain counsel to recover as an absent class member. The complaint in this action was not filed by Milberg. Founded in 1965, Milberg has offices in New York, Los Angeles, Tampa, and Detroit. The Firm has litigated landmark cases and recovered billions for shareholders and consumers. Our website has additional information: (www.milberg.com).
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'FarmVille' creator Zynga facing class-action lawsuit
Topics in Legal News |
2010/10/20 10:44
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A class-action lawsuit was filed Monday in a federal court in San Francisco accusing FarmVille creator Zynga of "illegally sharing the Facebook user data of its customers with advertisers and data brokers." In a statement released by the lawsuit's co-lead attorneys, the filing claims Zynga violated federal law and its contract with Facebook by sharing the user data of players on games such as Farmville. "This appears to be another example of an online company failing the American public with empty promises to respect individual privacy rights," said Michael Aschenbrener of Edelson McGuire LLC -- a co-lead attorney for the lawsuit -- in a statement. The lawsuit seeks "monetary relief" for those affected as well as an injunction to "prevent continued privacy abuses," reads the statement. |
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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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