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Davis Polk Recruits Ex-SEC Aide
Court News |
2009/04/13 09:30
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Law firm Davis Polk & Wardwell recruited the Securities and Exchange Commission's former enforcement chief and another former high-level government lawyer to join its white-collar defense group, part of an effort to expand its Washington practice.
Linda Chatman Thomsen, who left the SEC earlier this year, and Raul Yanes, former staff secretary to President George W. Bush, are joining the law firm as partners. Both had worked at Davis Polk in New York before joining the government. The duo will be the first litigators in the 11-person Washington office in years. Former SEC Commissioner Annette Nazareth and Robert Colby, a former deputy director of the SEC's trading and markets division, also recently joined the firm's Washington office to focus on financial regulatory issues. Davis Polk clients, including large financial institutions, are closely entangled with the government as it has pumped billions of dollars into financial rescue plans. Congress is studying new regulation of financial markets. |
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Man jailed for dodging child support for 14 kids
Headline Legal News |
2009/04/12 09:31
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Authorities in Michigan say a man fathered 14 children with 13 different women and owes more than $530,000 in unpaid child support.
The Flint Journal reports 42-year-old Thomas Frazier was jailed Thursday. Court records say he hasn't made a support payment in six years.
The newspaper says the unemployed man could be held for 90 days if he doesn't pay $27,900. Frazier says he thinks he fathered only three of the children and that it's unrealistic for authorities to expect him to pay child support that was $3,000 a month at one point. Frazier remains held at the Genesee County Jail. It wasn't immediately clear if he had a lawyer who could speak for him. |
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Nationally Ranked Securities Group Joins SRFF LLP
Law Firm News |
2009/03/23 09:29
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Harvey J. Kesner, previously head of the New York Business and Securities Regulation Group at Haynes and Boone, LLP, and Ben Reichel, a partner, have joined the corporate and securities practice of Sichenzia Ross Friedman Ference LLP ("SRFF") as partners. The new additions couple two of the most active and dynamic securities practices in New York and result in one of the most experienced and productive corporate finance groups in the United States, representing well over 100 publicly traded companies.
Both the SRFF practice and Mr. Kesner's group have long focused on the needs of public companies, hedge funds, institutional investors, money managers, high net worth individuals, underwriters, placement agents and broker-dealers. Both practices have a well-established prominence in PIPES, venture capital, reverse mergers, public offerings and general corporate and securities law compliance. Since 2007, the combined practices have represented over 87 PIPE transactions totaling $900 million in value. The addition of Harvey and Ben brings the total number of attorneys in the SRFF corporate finance group to 21 lawyers and the total number of lawyers firm wide to 30. SRFF's practice groups include business and securities litigation, securities enforcement and broker dealer regulation.
"We are very fortunate to have Harvey and Ben join forces with us. The combination of their practice with ours continues our leading position in business counseling and securities transactions and has further expanded our market share," said Richard Friedman, managing partner of the firm. "Their addition solidifies SRFF's position as an industry leader and demonstrates our tradition of growth by careful additions of individual practitioners and cohesive practice groups that share our collegial and entrepreneurial spirit, and a dedication to quality of service."
Mr. Kesner stated, "Uniting both of these nationally recognized practices makes perfect sense. We are joining SRFF to consolidate our two similar and competitive practices under a single roof. We have always respected SRFF's professionals including their success in establishing a strong presence in China. Many of our friends and clients view SRFF as the international leader in small- and mid-cap public company representation and we look forward to continuing to expand both domestically and abroad."
Mr. Kesner focuses his practice on complex domestic and international transactions. He represents issuers, underwriters, agents and other financial intermediaries in public and private offerings, as well as in equity, debt, and derivative securities transactions. Mr. Kesner has an extensive background in representing issuers and other parties in mergers and acquisitions, private equity and venture capital transactions.
Mr. Kesner spent several years in Washington, D.C., where he was a senior attorney in the Division of Corporation Finance of the SEC. He holds an M.B.A. in finance from American University in Washington, D.C., where he also earned his J.D. Mr. Kesner received his B.S. from the State University of New York at Binghamton. Mr. Kesner served as General Counsel of a NYSE listed company and had previously been associated with several large New York law firms.
Mr. Reichel's practice focuses on corporate securities, venture capital, mergers and acquisitions, and general company representation. He has represented issuers in private and public offerings of debt and equity securities, including IPOs, secondary, PIPE and registered rights offerings. He has also represented investment firms and private companies in venture capital transactions, as well as hedge fund formation. In addition, Mr. Reichel has represented public and private companies, both as buyers and sellers, in various M&A deals, including statutory mergers, stock purchase transactions and asset sales and acquisitions. His practice also includes assisting public companies with their SEC filings, and advising them on securities law and daily corporate matters. Mr. Reichel received his J.D. from New York University School of Law and completed his B.A. at Yeshiva University. |
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Gilman & Pastor File Class Action vs. "Chinese Drywall"
Court Watch |
2009/03/19 11:12
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Notice is hereby given that Gilman and Pastor has filed a lawsuit in the United States District Court for the Middle District of Florida asserting class action claims on behalf of homeowners, building owners, community developments and owner associations across the United States to recover losses associated with the removal, replacement and remediation of defective "Chinese Drywall," as well as damages for personal injury.
Residents who may be affected include those living in homes that were built between 2002 and 2007, when imported Chinese Drywall was used by several of the major building companies. The defendants named in this lawsuit include Knauf Gips KG, the leading manufacturer in drywall located in Germany, Knauf Plasterboard Tianjin (KPT), a Chinese drywall manufacturer; Knauf Group, the German parent company of KPT; Banner Supply, a Miami building supply company; and Rothchilt International Ltd., a China-based exporter. Developers that have been identified as possible users of this drywall include Lennar Homes, W.C.I., Tousa, Engel Homes and other national home builders.
The lawsuit alleges that "fly ash" waste material from Chinese power plants was used in the manufacture of this Chinese Drywall. These waste materials can leak into the air and emit harmful sulfur compounds, including sulfur dioxide and hydrogen sulfide.
Our investigation has concluded that this is far more serious and vastly more extensive than previously determined. More than 550 million pounds of Chinese drywall was imported to the U.S. during the housing boom from 2004 to 2006. There are approximately 60,000 homes affected by these defective building materials in multiple states across the USA, with defective Chinese drywall gaining entry through ports in Alabama, California, Florida, Georgia, Hawaii, Louisiana, Mississippi, Missouri, New York, North Carolina, Pennsylvania, Texas, Virginia and Washington, among others.
There is no easy way to fix the damage caused by the defective drywall. In most cases, owners of homes where the toxic drywall was installed are forced to move out, gut their homes to remove the toxic materials, and rebuild the interiors of the homes with new drywall before moving back in. All personal property inside the home that may have been contaminated by the sulfur gases must also be replaced. The Sulfur emissions may also cause extensive electrical damage. Corrosion of air-conditioning units and wiring has been linked to Chinese drywall. Residents in homes built with the defective drywall have also reported suffering from respiratory problems, nose bleeds, coughing, and irritation of sinuses, eyes and throats.
Prompt action is important. With many builders and developers filing for bankruptcy protection or closing their doors, a delay in asserting your claim may limit your recourse against the builders that installed the defective materials or their suppliers.
News agencies and informational web sites could be especially helpful to consumers by alerting them to this serious problem.
Gilman and Pastor is a national litigation firm with offices in Boston, Massachusetts, and Naples, Florida, specializing in product liability litigation, consumer class actions and complex business litigation. For 30 years our attorneys have recovered more than a billion dollars on behalf of our clients.
Gilman and Pastor's managing partner, Kenneth G. Gilman, has worked extensively to assist building owners recover losses from defective building materials. Gilman and Pastor was appointed by the United States District Court as lead class counsel in Sebago Inc et al. v. Beazer East, Inc. and Johns Manville against the two manufacturers of phenolic foam roof insulation. PFRI, when exposed to even small amounts of moisture, releases an acidic leachate that corrodes metal roof decks. In 2000, the United States District Court in Massachusetts approved a nationwide class settlement which involved remediation of class members' buildings with payments of a combined estimated value of more than $350 million.
You may learn more about our lawsuit and our investigation into Chinese Drywall by contacting Kenneth G. Gilman toll-free at (888) 280-1236. Additional information is available online at www.defective-drywall.com. We can assist you in all phases of this matter, including properly scheduled inspections. |
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Levi & Korinsky Investigate Breach of Fiduciary Duty
Law Firm News |
2009/03/04 09:03
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Levi & Korsinsky ("L&K") is investigating breaches of fiduciary duty and other violations of state law by the board of directors of Nobel Learning Communities, Inc. ("Nobel Learning" or the "Company") (Nasdaq:NLCI) arising out of their failure to negotiate in good faith with a potential purchaser of the Company and pursue a transaction designed to maximize shareholders value. On September 22, 2008, Knowledge Learning Corporation made an offer to buy the Company for $17 per share which represents a 25% premium to the prior day's closing share price and is a price the Company's stock has not reached since 1996. The Board, however, has taken actions designed to maintain control over the Company and impede the maximization of shareholder value. These actions include the adoption of a rights plan in response to purchases of Company stock by entities controlled by or affiliated with Michael Milken who is the founder of Knowledge Learning Corporation.
If you own common stock in Nobel Learning and wish to obtain additional information, please contact us at the number listed below or visit http://www.zlk.com/nlci.html
L&K has experience in prosecuting investor securities litigation and an extensive practice in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. |
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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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