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Kessler Topaz Meltzer & Check, LLP Announces a Proposed Class Action Settlement
Securities Class Action |
2012/02/20 09:43
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To: All persons and entities who purchased or otherwise acquired the common stock of Pilgrim's Pride Corporation from May 5, 2008 to October 28, 2008, inclusive, including all those who purchased the common stock of Pilgrim's Pride Corporation pursuant and/or traceable to any registration statement, prospectus, prospectus supplement or any documents therein incorporated by reference filed with the U.S. Securities and Exchange Commission in connection with the Company's May 14, 2008 Secondary Offering, and who were damaged thereby (the "Class").
YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and Order of the Court, that the above-captioned action has been certified as a class action for purposes of settlement only and that a settlement for One Million Five Hundred Thousand Dollars ($1,500,000) has been proposed. A hearing will be held before the Honorable Rodney Gilstrap in the United States District Court for the Eastern District of Texas, Sam B. Hall, Jr. Federal Building and United States Courthouse, 100 East Houston Street, Marshall, Texas 75670, Courtroom 106, at 9:00 a.m., on May 1, 2012 to determine: (1) whether the proposed Settlement should be approved as fair, reasonable and adequate; (2) whether the Action should be dismissed with prejudice against Defendants; (3) whether the proposed Plan of Allocation should be approved as fair and reasonable; and (4) whether Lead Counsel's application for an award of attorneys' fees and reimbursement of expenses should be approved.
IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT FUND. If you have not yet received the full printed Notice of Pendency of Class Action and Proposed Settlement, Motion for Attorneys' Fees and Expenses and Settlement Fairness Hearing (the "Notice") and Proof of Claim and Release form ("Proof of Claim"), you may obtain copies of these documents by contacting:
Pilgrim's Pride Corporation Securities Litigation
c/o Rust Consulting, Inc.
P.O. Box 2619
Faribault, MN 55021-9619
(866) 430-8117
www.PilgrimsPrideSecuritiesSettlement.com |
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Rigrodsky & Long, P.A. Announces A Securities Fraud Class Action
Securities Class Action |
2012/02/16 09:56
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Rigrodsky & Long, P.A. announces that a class action lawsuit has been filed in the United States District Court for the District of Kansas on behalf of purchasers the common stock of Collective Brands, Inc. between December 1, 2010 and May 24, 2011, inclusive, alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers and/or directors.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Scott J. Farrell, Esquire of Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530 at (888) 969-4242, by e-mail to info@rigrodskylong.com, or at: http://www.rigrodskylong.com/investigations/collective-brands-inc-pss.
Collective Brands was formed in 2007 when Payless ShoeSource acquired the Collective Brands Performance + Lifestyle Group (formerly the Stride Rite Corporation) and Collective Licensing International. The Complaint alleges that during the Class Period, Collective Brands and certain of the Company’s directors and/or officers made materially false and misleading statements concerning its business and financial results. Specifically, it is alleged that defendants concealed from the investing public problems concerning the Company’s inventory level for Payless; significantly lower sales at the Company’s flagship Payless stores than expected due to deteriorating customer demand; and that the Company was forced to mark down Payless’s inventory at significant discounts, which negatively affected the Company’s margins and financial results for its first quarter.
On May 24, 2011, the Company disclosed its financial results for its first fiscal quarter ended April 30, 2011. As alleged in the Complaint, the Company reported earnings of $26.4 million or $0.42 diluted earnings per share (“EPS”) for the first quarter, which was nearly 50% less than the $0.82 diluted EPS expected by analysts. The Company also reported that net sales declined 1.1% to $869.0 million, due in substantial part to the Company’s 7.4% comparable store sales decline in its Payless Domestic segment. As a result, the price of Collective Brands common stock dropped $3.06 per share to close at $15.31 per share on May 25, 2011, a decline of approximately 17% on heavy trading volume.
If you wish to serve as lead plaintiff, you must move the Court no later than March 26, 2012. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the proposed 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.
http://www.rigrodskylong.com
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Robbins Geller Rudman & Dowd LLP Files Class Action
Securities Class Action |
2012/02/10 09:30
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Robbins Geller Rudman & Dowd LLP today announced that a class action has been commenced in the United States District Court for the Central District of California on behalf of purchasers of the common stock of Powerwave Technologies, Inc. between February 1, 2011 and October 18, 2011, inclusive.
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, Samuel H. Rudman or David A. Rosenfeld of Robbins Geller at 800/449-4900 or 619/231-1058. 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/powerwave/. 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 Powerwave and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Powerwave engages in the design, manufacture, marketing, and sale of wireless solutions for wireless communications networks worldwide.
The complaint alleges that, during the Class Period, defendants issued materially false and misleading statements regarding the Company’s business and prospects. Specifically, defendants misrepresented and/or failed to disclose the following adverse facts: (i) that the Company was experiencing a dramatic decline in demand from customers in its North American markets; (ii) that the Company was rapidly burning through its free cash flow as revenues declined and expenses increased; and (iii) that, as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about the Company, its operations and earnings.
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.
http://www.rgrdlaw.com |
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Glancy Binkow & Goldberg LLP Announces Class Action
Securities Class Action |
2012/02/09 10:05
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Notice is hereby given that Glancy Binkow & Goldberg LLP has filed a class action lawsuit in the United States District Court for the Southern District of New York on behalf of all purchasers of the American Depositary Shares of China Medical Technologies, Inc. between November 26, 2007 and December 12, 2011, inclusive seeking to pursue remedies under the Securities Exchange Act of 1934.
A copy of the Complaint is available from the court or from Glancy Binkow & Goldberg LLP. Please contact us by phone to discuss this action or to obtain a copy of the Complaint at (310) 201-9150 or Toll Free at (888) 773-9224, by email at shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com.
China Medical develops, manufactures and markets immunodiagnostic and molecular diagnostic products. The Complaint alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose material adverse facts about the Company's business, operations and prospects, including: (1) that the Company’s acquisition of Beijing Bio-Ekon Biotechnology Co. Ltd. (“BBE”) was from a third-party seller connected to China Medical’s CEO; (2) that the Company substantially overpaid to acquire BBE; (3) that China Medical’s acquisition of BBE involved the use of fraudulent shell companies; (4) that the Company was suffering substantial operating losses prior to the acquisition; (5) that a majority of the Company’s accounts receivable were in excess of 120 days; (6) that, as a result, China Medical’s financial results were overstated; (7) that the Company lacked adequate internal and financial controls; and (8), as a result of the foregoing, that the Company's statements were materially false and misleading at all relevant times.
Plaintiff seeks to recover damages on behalf of class members and is represented by Glancy Binkow & Goldberg LLP, a law firm with significant experience in prosecuting class actions and substantial expertise in actions involving corporate fraud.
http://www.glancylaw.com |
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Robbins Umeda LLP Announces Class Action
Securities Class Action |
2012/02/06 09:56
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Shareholder rights firm Robbins Umeda LLP, announces that the firm commenced a class action lawsuit on February 3, 2012 in the U.S. District Court for the Northern District of Illinois, Eastern Division, on behalf of all persons or entities who purchased or otherwise acquired the securities of BioSante Pharmaceuticals, Inc. between February 12, 2010 and December 15, 2011 (the "Class Period"). The action is against the Company and the Company's Chief Executive Officer for violations of the Securities and Exchange Act of 1934.
BioSante Pharmaceuticals is a specialty pharmaceutical Company focused on developing products for female sexual health and oncology. Over the last decade, BioSante has been in the process of developing LibiGel, a drug designed to improve the sex drive of women suffering from female sexual dysfunction, specifically hypoactive desire disorder.
The complaint alleges that beginning on February 12, 2010, the Company, along with its Chief Executive Officer, issued a series of materially false and misleading statements to investors about LibiGel's commercial viability, effectiveness, and market potential that caused shares of BioSante to trade at artificially high prices. Specifically, it is alleged that officials at BioSante boasted that clinical data demonstrated that LibiGel had a "statistically significant" effect on female patients treated with the product, and that LibiGel was "the most clinically advanced pharmaceutical product in the U.S." Additionally, it is alleged that BioSante and its Chief Executive Officer misled investors by routinely analogizing LibiGel's market potential to the $2 billion dollar market for male erectile drugs, often comparing LibiGel to products like "Viagra, Levitra, and Cialis."
Robbins Umeda LLP represents individual and institutional shareholders in derivative, direct, and class action lawsuits. The law firm's skilled litigation teams include former federal prosecutors, former defense counsel from top multinational corporate law firms, and career shareholder rights attorneys. Robbins Umeda LLP has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. For more information, please go to http://www.robbinsumeda.com.
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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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