Bull & Lifshitz, LLP announces an investigation into possible breaches of fiduciary duty in connection with the proposed acquisition of ATC Technology Corporation by GENCO Distribution System, Inc. in a cash transaction valued at approximately $512.6 million.

Under the terms of the transaction, approved by the board of directors of both companies, each outstanding share of ATC will be converted into the right to receive $25.00 per share in cash. Completion of the merger is subject to, among other things, approval by holders of a majority of ATC's outstanding common stock.

Bull & Lifshitz, LLP's investigation is focused on whether the Board of Directors breached their fiduciary duties to ATC stockholders and whether the proposed deal provides adequate value to the Company's shareholders.

If you are a holder of ATC stock and want to discuss your legal rights, you may e-mail or call Bull & Lifshitz, LLP who will, without obligation or cost to you, attempt to answer your questions.

If you are a shareholder of ATC and would like more information about our investigation, please contact Joshua M. Lifshitz, Esq. by telephone at (866) 313-6222 or by sending an e-mail including your contact information to: counsel@nyclasslaw.com. All e-mail correspondence should make reference to ATC.

Bull & Lifshitz, LLP is a New York City-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 visit our website at www.nyclasslaw.com.

Immigration to rich countries dropped during the global economic crisis, reversing five years of annual increases as the demand for labor fell, the Organization for Economic Cooperation and Development said Monday.

A report showed that 4.4 million people migrated to the OECD's 31 member countries — the world's most developed economies — in 2008. That is a drop of about 6 percent from the year before.

The fall reverses five years of annual increases of 11 percent, the OECD said in its International Migration Outlook 2010.

National data suggest that international migration fell again in 2009.

Unemployment among male immigrants has risen more than among native counterparts because many immigrants worked in industries badly hit by the crisis, such as construction, hotels and restaurants, the OECD said. Still, few are returning home, it said.

In some countries, employment of female immigrants has risen as women take jobs to make up for lost income of their unemployed spouses, it said.

Mel Gibson’s lawyer slammed Oksana Grigorieva’s claims that she had been treated cruelly by Mel and that he hadn’t been paying child support.  His lawyer actually termed her claims as “sensational allegations” because they were meant to simply tarnish his name in the media.

Right now, the ex-couple is battling over visitation rights.  Oksana received a restraining order last week causing Gibson’s lawyers to ask for a modification so the star can visit his daughter and spend time with her.

Kolodny, Gibson’s lawyer, told TMZ, “Oksana’s deceitful conduct in trying to terminate Mel’s access to his daughter continues.”

Last week, Oksana filed a restraining order against Gibson, and began spreading the rumor that he was not paying any child support.  The actor already has a tarnished image in the media due to past mistakes he made such as the anti-Semitic remarks.  It will be interesting to see how this whole debacle resolves between this Hollywood couple.

The American Bar Association Standing Committee on the Federal Judiciary has rated U.S. Supreme Court Associate Justice nominee Elena Kagan as “well-qualified,” the highest mark the committee offers.

Since 1953, the ABA has had a role in reviewing the qualifications of federal court nominees, including Supreme Court nominees.  A committee of 15 members — two from the Ninth Circuit, one from each of the 12 other federal judicial circuits and one who serves as chair — measures the individual’s integrity, professional competence and judicial temperament. 

While the standing committee insulates its work from all other activities of the association, ABA president Carolyn Lamm is familiar with the procedures used to evaluate a nominee’s qualifications.  Lamm served as chair of the committee from 1995 to 1996. 

Lamm explained, “In terms of legal competence, you’re looking at legal, analytical ability.  You’re looking at what they’ve written, how they’ve argued, whether they’ve argued — how they’ve done it.  We listen to opponents, or from those on the same side and from judges to find out, how did they do as lawyers and what is their legal ability?”

A comprehensive evaluation is conducted by interviewing a broad spectrum of the legal community, reviewing pertinent materials written by the nominee, and interviewing the nominee personally.  After the evaluation is complete, the findings are assembled into a report which is reviewed by each member of the standing committee who then individually rates the nominee as either “well-qualified,” “qualified” or “not-qualified.”  The majority vote constitutes the official rating of the ABA standing committee.

To merit a “well-qualified” rating, a Supreme Court nominee must be a preeminent member of the legal profession, have outstanding legal ability and exceptional breadth of experience, and meet the highest standards of integrity, professional competence and judicial temperament.  Kagan’s well-qualified rating was unanimous with one abstention.

Investigations of nominees to the U.S. Supreme Court differ in respect to other federal nominees in that they are conducted after the president has selected a nominee; they involve all members of the standing committee; a team or teams of law professors examine the nominee’s legal writings; and a group of practicing lawyers with Supreme Court experience also examines the writings.

Kagan currently serves as solicitor general of the United States.  She was nominated to fill the seat of John Paul Stevens, who will step down at the end of the 2009-2010 Supreme Court term.

When asked how the standing committee evaluates nominees who may not have had prior judicial experience, standing committee chair Kim Askew noted, “There are many, many judges who have served on courts who have never been judges and are very effective judges.  We look at what they do and we go to the three criteria — professional competence, integrity, and temperament — and we look at what they have done in their legal careers in the practice of law, which may or may not be on a bench.”

The past five U.S. Supreme Court nominees were also found well-qualified by the committee.

The Senate Judiciary Committee is scheduled to begin its confirmation hearing for Kagan on June 28.  Kim Askew, the chair of the Standing Committee on the Federal Judiciary, has been invited to testify relating to the standing committee’s rating.