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Robbins Umeda LLP Announces an Investigation of the Acquisition of McAfee, Inc.
Law Firm News/California |
2010/08/20 09:32
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Robbins Umeda LLP has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by members of the Board of Directors ("Board") of McAfee, Inc. ("McAfee" or the "Company") (NYSE: MFE) in connection with their efforts to sell McAfee to Intel Corporation ("Intel") (NASDAQ: INTC). If the transaction is completed, McAfee shareholders will receive $48.00 in cash for each share of McAfee common stock they hold. Robbins Umeda LLP's investigation concerns whether the McAfee Board undertook a fair process to obtain fair consideration for all shareholders of McAfee. Specifically, our investigation concerns whether the Company's Board breached their fiduciary duties to McAfee shareholders by failing to adequately shop the Company before entering into the transaction with Intel. At least one analyst had a price target for the Company at $50 per share. Additionally, under the terms of the agreement, McAfee must pay Intel a $230 million termination fee if McAfee accepts a superior offer to the Intel offer. If you are a shareholder of McAfee, plan to continue to hold your shares, and would like more information about your rights as a shareholder, please contact attorney Gregory E. Del Gaizo at 800-350-6003 or by e-mail at info@robbinsumeda.com. Robbins Umeda LLP is a California-based law firm with significant experience representing investors in merger-related shareholder class actions, shareholder derivative actions, and securities fraud class actions. For more information about the firm, please go to http://www.robbinsumeda.com.
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Legal Talk Show, Lawyer Websites - William Lerach
Legal Marketing |
2010/08/17 19:25
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For more than 20 years, William S. Lerach was the most feared lawyer in America. He and his former firm, Milberg Weiss, were Jedi masters of security law, targeting Fortune 500 companies for corporate fraud and recovering a staggering $45 billion in judgments. Tough and relentless, plaintiffs saw him as a savior, successfully suing WorldCom, Tyco, Disney,Merrill Lynch and Enron, among others. Lerach brought down high-flying CEOs and companies that routinely cooked the books to keep executives rich and shareholders broke. Famous for his class-action suits and novel legal tactics, he was the scourge of big business, forcing many companies, terrified of being “Lerached,” to settle out of court rather than fight. In January 2008, he pleaded guilty to conspiracy to obstruct justice, admitting he paid a few regular plaintiffs millions in kickbacks to instigate cases that netted the firm some $200 million over two decades. (No plaintiff can benefit more than others in class-action suits.) He was fined nearly $8 million and sentenced to two years in prison. He was just released in March 2010.
Lerach was famous for tracking stock prices — charting fluctuations against optimistic statements and insider selling — before a stock crashed. If company chiefs cashed in while investors lost their savings, Lerach smelled blood. If public investments were fueled by false claims, the charge was “fraud on the market.” Plus, any investment bank and Big 8 accounting firm that aided and abetted the principles were charged as secondary participants, unleashing a legal juggernaut. Bill talks about himself, the legal profession, and his contributions on behalf of investors everywhere.
If there was ever a modern Greek tragedy about a man and his times, about corporate arrogance and illusions and the scorched-earth tactics to not only counteract corporate America but to beat it at its own game, Bill Lerach's story is it.
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http://www.legalnewsbrief.blogspot.com
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http://metrolinkcomesclean.blogspot.com/
http://metrolinkclassaction.blogspot.com/
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S&P revises insurer WellCare's outlook to 'stable'
Opinions |
2010/08/11 14:25
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Standard & Poor's Ratings Services revised its outlook on WellCare Health Plans Inc. to "stable" from "positive" to reflect a potential for reduced financial flexibility. The ratings service said Tuesday that WellCare has resolved securities class action and civil lawsuits and will pay a total of $337.5 million over the next several years. These payments create the potential for "reduced liquidity and financial flexibility," S&P credit analyst Hema Singh said in a statement. "The stable outlook reflects our expectation for sustained business and operating performance, which could improve the company's creditworthiness given the various resolutions related to past accounting investigations," the statement said. S&P said WellCare has a relatively stable business profile and stabilizing operating performance. But it also noted the insurer's revenue is concentrated in government-sponsored business and comes with a risk for regulatory or legislative intervention. S&P also said Tuesday it affirmed its "B" counterparty credit rating on the company. |
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BP Class Action Lawsuit Filed Over Release of Benzene
Headline Legal News |
2010/08/09 07:52
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A $10 billion toxic tort class action lawsuit has been filed against BP over alleged emissions from its troubled Texas City oil refinery, alleging that workers and residents in the area were exposed to benzene and other chemicals.
More than 2,200 workers at the refinery and residents from the surrounding area filed the BP class action lawsuit on August 3 in the Galveston Division of the Southern District of Texas. The complaint alleges that for 40 days earlier this year, the company illegally released the chemical benzene into the atmosphere. The benzene lawsuit comes just as BP, formerly known as British Petroleum, was finally able to stop the flow of oil from a well a mile under the surface of the Gulf of Mexico, which has caused a massive oil spill that is expected to cost the company tens of billions of dollars in oil spill lawsuits and clean up costs. Plaintiffs in the BP Texas City refinery class action lawsuit say the company has been releasing benzene into the atmosphere at the plant due to a hydrogen compressor that broke down on April 6. The 2,212 plaintiffs allege that they suffered serious injuries and illnesses from benzene exposure. Benzene is an industrial chemical that has been linked to the development of cancer, leukemia and other life-threatening health problems. It is a known carcinogen used as an industrial solvent in the production of plastic and synthetic rubber, as well as drugs and dyes. BP’s Texas City Refinery is the third-largest oil refinery in the United States, and has been the subject of several major safety incidents. As recently as September, the U.S. Occupational Safety and Health Administration hit BP with an $87.4 million fine for not complying with a safety agreement made after a March 23, 2005 explosion and fire that killed 15 workers and injured more than 170 others. |
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Nun's death rallies anti-immigration forces
Headline Legal News |
2010/08/09 03:53
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In Arizona, the shooting death of a rancher blew the lid off simmering anger over border security and helped solidify support for a tough new immigration law. A similar eruption threatens in Virginia following the death of a Catholic nun in a car accident involving a man in the country illegally and accused of drunken driving. The Benedictine Sisters of Virginia tried to discourage using the death of Sister Denise Mosier as a "forum of the illegal immigration agenda" and pleaded for a focus on "Christ's command to forgive." "The sisters' mission is peace and love," said Corey Stewart, chairman of Prince William County's Board of Supervisors. "My mission is law enforcement and the protection of public safety." Prince William County, about 25 miles southwest of Washington, D.C., stepped up its immigration enforcement in 2007 amid explosive growth of its Hispanic and immigrant populations. Under Stewart's leadership, the county implemented a local policy requiring police to determine the immigration status of all people arrested on suspicion of violating state or local laws.
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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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