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The Shuman Law Firm Announces the Filing of a Class Action Lawsuit
Legal Focuses |
2010/09/12 11:33
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The Shuman Law Firm today announced that a class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of purchasers of the securities of Corinthian Colleges, Inc. ("Corinthian" or the "Company") /quotes/comstock/15*!coco/quotes/nls/coco (COCO 5.43, -0.01, -0.18%) between October 30, 2007 and August 19, 2010 (the "Class Period"). If you wish to discuss this action or have any questions concerning this notice or your rights and interests with respect to this matter, please contact Kip B. Shuman or Rusty E. Glenn toll free at (866) 974-8626 or email Mr. Shuman at kip@shumanlawfirm.com or Mr. Glenn at rusty@shumanlawfirm.com. The Complaint charges that Corinthian and certain of its officers and directors violated federal securities laws by making a series of materially false and misleading statements. Specifically, the Complaint alleges defendants failed to disclose: (i) Corinthian overstated its growth prospects by engaging in illicit and improper recruiting activities, which also had the effect of artificially inflating the Company's reported results and future growth prospects; (ii) the Company's financial results were overstated in that the Company's colleges inflated tuition costs and its student loan repayment rates were well below levels required for participation in federal loan programs; (iii) Corinthian failed to maintain adequate systems of internal operational or financial controls; and (iv) based on the foregoing, defendants lacked a basis for their positive statements about the Company, its prospects and growth. If you purchased Corinthian common stock during the Class Period, you may request that the Court appoint you as lead plaintiff of the class no later than November 1, 2010. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members. The Shuman Law Firm represents investors throughout the nation, concentrating its practice in securities class actions and shareholder derivative actions. SOURCE: The Shuman Law Firm
The Shuman Law Firm
Kip B. Shuman, Esq., 866-974-8626
kip@shumanlawfirm.com
or
Rusty E. Glenn, Esq., 866-974-8626
rusty@shumanlawfirm.com
Fax: 303-484-4886
www.shumanlawfirm.com
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Menzer & Hill, P.A. Announces Investigation
Legal Focuses |
2010/09/09 07:28
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The Securities Arbitration Firm of Menzer & Hill, P.A. Announces Investigation Into The Sales Practices Of Broker-Dealers That Solicited Purchases of Inverse and Leveraged Exchange-Traded Funds (ETFs)
The Securities Arbitration Firm of Menzer & Hill, P.A. (www.suemyadvisor.com) announced today that it is investigating the sales practices of brokerage firms that solicited investors to buy leveraged and inversed Exchanged-Traded Funds (“ETFs”). Many brokerage firms, through their financial advisors, are soliciting purchases in these securities as investments, with holding periods longer than one day, while others are recommending option strategies on the underlying ETFs. The Financial Industry Regulatory Authority (“FINRA”), stated in a Regulatory Notice, sent to brokerage firms June 2009, that leveraged and inverse ETFs are “highly complex financial instruments” and “are typically not suitable for retail investors who plan to hold them for more than one trading [day], particularly in volatile markets.” Brokerage firms that failed to adhere to suitability requirements could be held liable to investors that sustained losses in solicited purchases of leveraged and inverse ETFs as a result. Investors that have purchased leveraged or inverse ETFs through a brokerage account or managed account offered by Merrill Lynch, a subsidiary of Bank of America (NYSE:BAC), Morgan Stanley Smith Barney (NYSE:MS), Wells Fargo Advisors (NYSE:WFC), Ameriprise Financial (NYSE:AMP), UBS (NYSE:UBS), LPL Financial, Raymond James (NYSE:RJF), Edward Jones, or other brokerage firms and have sustained losses should contact the attorneys at the Securities Arbitration Firm of Menzer & Hill, P.A. to determine if they have a claim for a recovery of losses. Leveraged and inverse ETFs can be volatile and investors may have realized or unrealized losses in the following ETFs year to date, including but not limited to: DRV down 63% (NYSEArca: DRV); | TMV down 46% (NYSEArca: TMV); | VXX down 44% (NYSEArca: VXX); | SRS down 43% (NYSEArca: SRS); | ZSL down 42% (NYSEArca: ZSL); | GAZ down 38% (NYSEArca: GAZ); | TZA down 36% (NYSEArca: TZA); | UNG down 35% (NYSEArca: UNG); | TBT down 34% (NYSEArca: TBT); | FAZ down 29% (NYSEArca: FAZ); and | UCO down 28% (NYSEArca: UCO). |
For a free case evaluation or to discuss any other investment losses, please contact the Securities Arbitration Firm of Menzer & Hill, P.A., at 888-923-9223, or visit us on the web at www.suemyadvisor.com. |
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Kahn Swick & Foti, LLC Announces Class Action
Legal Focuses |
2010/09/07 10:43
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Kahn Swick & Foti, LLC ("KSF") (www.ksfcounsel.com), a nationally recognized Louisiana-based law firm, and KSF partner Charles C. Foti, Jr., former Attorney General of Louisiana, announce that a class action securities case was filed in the United States District Court for the Central District of California on behalf of purchasers of Beckman Coulter, Inc. ("Beckman Coulter") (NYSE: BEC | PowerRating) common stock during the period between July 31, 2009 and July 22, 2010, inclusive (the "Class Period"). If you are an BEC shareholder who has suffered losses on your investment during this period and would like to receive a copy of this complaint and discuss your rights as class members and/or apply for lead plaintiff, you may, without obligation or cost to you, prior to November 2, 2010, e-mail or call Managing Partner, Lewis Kahn (lewis.kahn@ksfcounsel.com), toll free at 1-866-467-1400, ext. 200, or after hours via cell phone 504-301-7900 or, KSF Director of Client Relations, Neil Rothstein, Esq. (neil.rothstein@ksfcounsel.com), toll free at 877/694-9510, or via cell phone 330/860-4092. You may also visit KSF's website at www.ksfcounsel.com to contact the firm online. A "lead plaintiff" is a representative party that acts on behalf of other class members in directing and controlling the litigation. To learn more about KSF and how becoming a lead plaintiff may benefit you, you may contact Mr. Kahn or Mr. Rothstein. On July 22, 2010, Beckman reported results for 2Q:10 well below guidance, in substantial part due to quality and compliance issues related to its Troponin product. Following these belated disclosures, shares of Beckman collapsed -- falling $12.64 per share to close at $47.26 per share on July 23, 2010 -- a single day decline of 21%. Accordingly, the complaint charges that, during the Class Period, defendants concealed the following: (a) that, Beckman failed to disclose that it had modified its Troponin test kits without proper approval from the Food and Drug Administration; (b) that, defendants failed to maintain proper controls and procedures related to regulatory compliance and product quality; (c) that, Beckman failed to disclose the adverse impact the Troponin quality and compliance issues was already having and, forseeably, would continue to have on Becman's financial results; and (d) that, Beckman's revenue and earnings guidance for 2010 was not foreseeable, and lacked a reasonable basis. If you wish to serve as lead plaintiff in this class action lawsuit
, you must request this position by application to the court no later than November 2, 2010. 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. To learn more about KSF, you may visit www.ksfcounsel.com. KSF is a law firm focused on securities class action litigation with offices in New York and Louisiana. KSF's lawyers have significant experience litigating complex securities class actions.
Contact:
Kahn Swick & Foti, LLC Managing Partner Lewis Kahn toll free at 1-866-467-1400, ext. 200
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Robbins Geller Rudman & Dowd LLP Files Class Action Suit
Legal Focuses |
2010/09/03 14:18
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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
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Liddle & Robinson, LLP Announce Class Action Lawsuit
Legal Focuses |
2010/08/26 14:22
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Cuneo Gilbert & LaDuca, LLP and Liddle & Robinson, LLP today announced that a class action has been commenced in the United States District Court for the Southern District of Florida on behalf of purchasers of the common stock of DJSP Enterprises, Inc. between March 16, 2010 and May 10, 2010, inclusive (the "Class" and "Class Period"), seeking to pursue remedies under the Securities Exchange Act of 1934 (the "Exchange Act"). Any person seeking to serve as lead plaintiff must move the Court no later than September 20, 2010. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Matt Miller, Esq. at Cuneo, Gilbert & LaDuca at 202-789-3960, or via e-mail at mmiller@cuneolaw.com. Any member of the 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 DJSP and certain of its officers with violations of the Exchange Act. The Complaint alleges that, throughout the Class Period, defendants made material misrepresentations and failed to disclose material adverse facts about the Company's true financial condition, business and prospects. Specifically, the Complaint alleges that the Company made positive representations concerning its present and future business prospects, when it knew or recklessly disregarded that (1) one of its largest clients would be drastically reducing its need for the Company's services, and (2) the federal government's efforts to slow down real estate foreclosures would also reduce demand for the Company's services. According to the complaint, on May 27, 2010, the Company shocked the market by lowering its guidance for adjusted net income by $15 million to $17 million, and the price of the Company's stock has fallen dramatically. Cuneo Gilbert & LaDuca, a firm with offices in Washington, D.C., New York, Los Angeles and Alexandria, Va., specializes in the representation of plaintiffs in consumer, antitrust, civil rights and securities class actions and is active in major litigations pending in federal and state courts throughout the United States. The Cuneo Gilbert & LaDuca website (http://www.cuneolaw.com) has more information about the firm. Liddle & Robinson, based in New York, represents individuals and financial services firms, hedge funds and other businesses in high-stakes, cutting-edge employment, securities and commercial litigation matters. The Liddle & Robinson website (http://www.liddlerobinson.com) has more information about the firm. |
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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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