Robbins Geller Rudman & Dowd LLP ("Robbins Geller") (http://www.rgrdlaw.com/cases/beckman/) today announced that a class action has been commenced on behalf of an institutional investor in the United States District Court for the Central District of California on behalf of purchasers of Beckman Coulter, Inc. ("Beckman") /quotes/comstock/13*!bec/quotes/nls/bec (BEC 46.50, +0.85, +1.86%) common stock during the period between July 31, 2009 and July 22, 2010 (the "Class Period").

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Darren Robbins of Robbins Geller at 800/449-4900 or 619/231-1058, or via e-mail at djr@rgrdlaw.com. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.rgrdlaw.com/cases/beckman/. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The complaint charges Beckman and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Beckman is a manufacturer and marketer of biomedical testing instrument systems, tests and supplies.

The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding Beckman's business and financial results. Defendants engaged in improper behavior that harmed Beckman's investors by failing to disclose the quality and compliance issues related to its troponin test kits. As a result of defendants' false statements, Beckman's stock traded at artificially inflated prices during the Class Period, reaching a high of $71.20 per share on September 14, 2009.

On July 22, 2010, Beckman reported its second quarter 2010 results, announcing that it had missed earnings estimates for the quarter and further that it was reducing its guidance due in substantial part to troponin quality and compliance issues. On this news, Beckman's stock plummeted $12.64 per share to close at $47.26 per share on July 23, 2010, a one-day decline of 21% on volume of over 8.6 million shares.

The complaint alleges certain facts which defendants concealed during the Class Period, including: (a) Beckman failed to disclose that it had made certain modifications to its troponin test kit without seeking the appropriate product clearances from the Food and Drug Administration; (b) defendants failed to maintain proper controls related to product quality and regulatory compliance; (c) Beckman failed to disclose the adverse impact the troponin quality and compliance issues would have on its operations and financial results; and (d) Beckman's revenue and earnings guidance for 2010 was misstated and lacked a reasonable basis.

As a result of defendants' false statements and omissions, Beckman's common stock traded at artificially inflated prices during the Class Period. However, after the above revelations seeped into the market, Beckman's shares were hammered by massive sales, sending them down nearly 34% from their Class Period high.

Plaintiff seeks to recover damages on behalf of all purchasers of Beckman common stock during the Class Period (the "Class"). The plaintiff is represented by Robbins Geller, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.

Robbins Geller, a 180-lawyer firm with offices in San Diego, San Francisco, New York, Boca Raton, Washington, D.C., Philadelphia and Atlanta, is active in major litigations pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations. The Robbins Geller Web site (http://www.rgrdlaw.com) has more information about the firm.

SOURCE: Robbins Geller Rudman & Dowd LLP

Robbins Geller Rudman & Dowd LLP
Darren Robbins, 800-449-4900 or 619-231-1058
djr@rgrdlaw.com

Apollo Group Inc, the parent company of the University of Phoenix, said the company and several of its executives have been named defendants in a purported class action lawsuit.

The lawsuit states that the company made misleading statements between Dec 2009 and Aug 2010 about Apollo and its business "in violation of federal securities laws."

These statements artificially inflated the trading price of the company's shares, the lawsuit states and is seeking compensatory damages.

In June this year, the company had to pay damages as an appeals court reversed a lower court judgment related to a securities class action lawsuit.

The company, which is considered the bellwether of the for-profit education group in the U.S., has been under pressure along with its peers as the U.S. government is scrutinizing the sector.

Rules in the education sector are being overhauled to ensure that students do not graduate with unwieldy debt and the programs undertaken prepare them for the jobs in the field.

American Apparel (AMEX:APP) is now facing a class-action lawsuit brought against it by the Law Offices Howard G. Smith.

The suit alleges that American Apparel (AMEX:APP) “violated federal securities laws by issuing material misrepresentations to the market concerning American Apparel’s operations and financial performance” over the last 4 years.

Stay tuned for developments on this case.

If you’re contemplating investing in American Apparel (AMEX:APP) shares, be sure you make the trade at the right price. Timing the market or technical analysis might often a hard task, but do take into account the price history.

Read more:
http://www.stockbriefings.com/american-apparel-amexapp-facing-legal-action/3171758

Sean Coffey was a powerhouse among plaintiffs' securities lawyers, touted as the potential new king of securities class actions following the troubles at Milberg LLP and his securing $6.1 billion in recoveries for WorldCom investors.

But last fall, Mr. Coffey, 54, told his partners at Bernstein Litowitz Berger & Grossmann he would quit the firm and try something different—a run as New York's next attorney general.

"When he came to tell me, I said, 'Sean, maybe you should go on vacation,'" said Max Berger, who co-managed the firm with Mr. Coffey. "'You can't possibly be serious about this, look what you'd be giving up.' And he said, 'No, no, this is what I want to do.'"

Mr. Coffey, who has never before run for political office, announced his candidacy in October and has been travelling the state trying to convince New Yorkers that he is the right person for the job. Considered an unknown in political circles, Mr. Coffey has embraced his outsider status, saying he is the most independent candidate, the only one who has a military background along with legal experience as a prosecutor, a defense attorney, plaintiffs' counsel and co-managing partner of a law firm.

"I view [running for attorney general] as a calling and not an occupation," he said. "I have nothing against career politicians; I've supported a heck of a lot of them financially. But for this office for this state at this point in time, I offer an alternative that I think the electorate will accept."


Read more:
http://www.law.com/jsp/nylj/PubArticleNY.jsp?id=1202471401956&Former_Class_Action_Lawyer_Promises_to_Be_an_Agent_of_Change&slreturn=1&hbxlogin=1

A federal lawsuit was filed Monday against CVB Financial Corp. alleging that the Ontario-based lender misled investors in the months leading up to the company's disclosure that it was under a Securities and Exchange Commission investigation.
Kahn Swick & Foti, a class-actions law firm with offices in Louisiana and New York, and Braun Law Group in Los Angeles, brought the suit on behalf of a shareholder, Barry R. Lloyd.

The lawsuit offers little information on the basis for the allegations, other than to say that CVB - which owns Citizens Business Bank - is the subject of an investigation into "possible accounting violations."

Lawyers filed the lawsuit in U.S. District Court in Riverside.

"The SEC has not charged CVB financial with anything," CVB Chief Executive Christopher Myers said Tuesday.

Lewis Kahn, founding partner of Kahn Swick & Foti and a lawyer on the case, did not respond to calls for comment.

More lawsuits against CVB are likely to crop up, said Dana Warren, director of the Business Law Practicum at Loyola Law School, whether or not the SEC discloses more information about the investigation.