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Ducommun to sell $200M in notes to fund purchase
Securities Lawyers | 2011/06/20 05:14

Aerospace parts maker Ducommun Inc. said Monday that it will offer $200 million in senior notes to help pay for its pending acquisition of LaBarge Inc.

The unsecured notes, due in 2018, will be sold after closing of the $340 million LaBarge deal, which Ducommun expects to happen Thursday after a LaBarge stockholders' meeting.

The notes will be sold to institutional buyers.

LaBarge, based in LaDue, Mo., makes electronic circuit boards, cables and other components.

LaBarge and Ducommun, based in Carson, Calif., announced the deal in April.

LaBarge's largest customers include Boeing, Raytheon and General Electric. Last year, it had revenue of $324 million.



Deal Lawyer Accused of Insider Trading
Securities Lawyers | 2011/04/07 09:22

Federal authorities say a stock trader and a lawyer, working with a middleman, made millions by using advance knowledge of mergers and acquisitions gleaned from the computers of prestigious New York law firms.

With confidential information plundered from some of New York's most prestigious law firms, a corporate finance attorney, a Wall Street trader and a "middleman" bought hundreds of thousands of shares in companies about to be acquired, selling them when the deals were done to net millions of dollars in instant profit, federal officials allege.

After each haul — totaling at least $32 million over nearly 17 years, according to federal investigators — the men met in Atlantic City casinos, where they believed they could share their large cash spoils without attracting attention.

But on Wednesday, in one of the biggest insider trading cases to date, authorities arrested the lawyer and the trader. No charges have been filed against the unnamed middleman.

The two arrested men, Matthew H. Kluger, a Washington, D.C., attorney, and Garrett D. Bauer, a professional stock trader, have each been charged with more than a dozen counts of securities fraud, money laundering and obstruction of justice. They also face insider trading charges from the Securities and Exchange Commission.




Abraham, Fruchter & Twersky, LLP
Securities Lawyers | 2010/09/27 09:27

Abraham, Fruchter & Twersky, LLP announces that it has been retained to file a class action law suit on behalf of purchasers of Duoyuan Printing, Inc.stock between November 6, 2009 through September 13, 2010, including purchasers of the Company's November 6, 2009 initial public offering of common stock.

The Complaint alleges that throughout the Class Period, defendants failed to disclose (1) that the authenticity of certain of the Company's expenses related to advertising and tradeshow costs could not be verified; (2) that the Company had improper relationships with certain vendors and distributors; and (3) that the Company lacked adequate internal and financial controls. As a result, the Company's financial statements were materially false and misleading at all relevant times.

On September 13, 2010, Duoyuan Printing disclosed that the Company dismissed its independent registered public accounting firm, Deloitte Touche Tohmatsu CPA Ltd., and was reorganizing its top management in connection with Duoyuan Printing's "desire to resolve open issues and file our 10-K on a timely basis." Moreover, the Company's Chief Executive Officer, Chief Financial Officer and four members of the Company's Board of Directors resigned after the dismissal of Deloitte. In a reaction to the Company's revelations, Duoyuan Printing securities declined $3.60 or more than 54% and closed at $2.99 on September 13, 2010.

If you purchased Duoyuan Printing common stock during the Class Period of November 6, 2009 through September 13, 2010, and you wish to serve as lead plaintiff in this action, you must move the Court no later than November 19, 2010. 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 a member of the proposed class.

If you would like to discuss this action or if you have any questions concerning this notice or your rights as a potential class member or lead plaintiff, you may contact: Jack G. Fruchter or Arthur J. Chen of Abraham, Fruchter & Twersky, LLP at (800) 440-8986, or via e-mail at info@aftlaw.com or achen@aftlaw.com.

Abraham, Fruchter & Twersky, LLP has extensive experience prosecuting securities class action cases, and the firm has been ranked among the leading class action law firms in terms of recoveries achieved by a survey of class action law firms conducted by Institutional Shareholder Services.



Fraudulent Practices in the Sale of Indexed Annuities
Securities Lawyers | 2010/09/22 10:23

If approached by your broker (or financial advisor or insurance agent) to purchase an indexed annuity there are some things an investor should consider.  First, an indexed annuity (also known as, equity-indexed annuity or fixed indexed annuity) is a fixed annuity, either immediate or deferred, that earns interest or provides benefits that are often linked to an equity or stock market index.  In 2008, the National Association of Insurance Commissioners (NAIC), an association of state insurance regulatory officials, issued a buyers guide to indexed annuities, which provides educational information on indexed annuties.  Did your broker provide you with one?  The Financial Industry Regulatory Authority (FINRA) also published an investor alert on indexed annuities.

Unscrupulous brokers take advantage of naïve, unsuspecting investors, especially seniors, and heavily pitch purchases into indexed annuities.  Often they will tout indexed annuities as being better than bank CDs and will convince investors to liquidate their CDs to buy an indexed annuity.  Investors with variable annuities are often approached by a broker to buy indexed annuities, touting them as being safer than then variable annuity, which has investment choices whose principal can be subject to market volatility.  Did the broker recommend you to consider moving money into the fixed account of the variable annuity?  If not, the broker is probably only motivated to earn a commission which can be as high as 5%.  Another fraudulent tactic is to entice an investor with an “upfront bonus” to buy an indexed annuity but what a devious broker may not tell you is that often you would have to annuitize the annuity in order to take advantage of the bonus benefit – it’s not free money, there’s a cost to every benefit in an annuity.  Other brokers may convince you that the annuity they sold you earlier is now out-of-date and try to sell you another annuity claiming to have “better and more features.”



Former Class Action Lawyer Promises to Be an 'Agent of Change'
Securities Lawyers | 2010/09/02 14:11

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



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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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