|
|
|
Rigrodsky & Long, P.A. Announces Class Action
Class Action |
2011/03/23 09:57
|
Rigrodsky & Long, P.A. announces that a class action lawsuit has been filed in the United States District Court for the District of Colorado on behalf of all persons or entities who purchased or otherwise acquired the common stock of United Western Bancorp, Inc. (“United Western” or the “Company”) (Pink Sheets: UWBK.PK) pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company’s September 17, 2009 offering (the “Offering”), alleging violations of the Securities Act of 1933 (the “Complaint”). 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 Noah R. Wortman, Case Development Director of Rigrodsky & Long, P.A., 919 North Market Street, Suite 980 Wilmington, Delaware, 19801 at (888) 969-4242, by e-mail to info@rigrodskylong.com, or via our website: http://www.rigrodskylong.com/news/UnitedWesternBancorp-UWBK. The Complaint names United Western, certain of the Company’s current executive officers and directors, auditors, and investment advisors as defendants. On September 17, 2009, defendants consummated the Offering pursuant to a false and misleading registration statement, selling 20 million shares of United Western common stock at $4.00 per share, for proceeds of $80 million. United Western also received additional gross proceeds of $7.8 million (1,961,325 shares issued at $4.00/share) as a result of the partial exercise of the over-allotment option to purchase additional shares granted to the underwriters. The registration statement incorporated, among other documents, United Western’s reported financial results and 10-K/A for 2008 and the reported financial results and 10-Q for the second quarter of 2009. The Complaint alleges that the true facts which were omitted from the registration statement were: (1) United Western’s mortgage backed securities (“MBSs”) and collateralized mortgage obligations (“CMOs”) were impaired to a far greater extent than the Company had disclosed; (2) defendants failed to properly record losses for other than temporary impairment (“OTTI”) in United Western’s non-agency MBSs and CMOs; (3) the Company’s internal controls were inadequate to prevent the Company from improperly reporting its impaired assets; and (4) the Company’s capital base was not adequate in light of the impairment of its assets. United Western ultimately announced multi-million dollar impairments in its investment securities portfolio, specifically in MBSs and CMOs, causing the price of its common stock to plummet. In turn, on January 21, 2011, the Federal Deposit Insurance Corporation (“FDIC”) was appointed as receiver for United Western Bank by the Office of Thrift Supervision (“OTS”) under the Federal Deposit Insurance Act. |
|
|
|
|
|
|
Seattle woman files class action lawsuit against Groupon
Class Action |
2011/03/23 09:53
|
A Seattle woman filed a class action lawsuit against the Internet coupon giant, Groupon. Barrie Arliss said Groupon sells gift certificates with clearly visible expiration dates, even though state law prohibits expiration dates on certificates. In the class action complaint, Arliss also said the company put other illegal restrictions on the gift certificates it sells as Groupons. Arliss said Groupon deceives customers into forgoing refunds when customers are entitled to them.
|
|
|
|
|
|
|
Judge denies class action status in lawsuit
Class Action |
2011/03/11 12:47
|
A federal judge has refused to expand a lawsuit beyond the seven people who are suing a South Dakota urology clinic and its owners. The plaintiffs sought to make it a class action suit representing more than 6,000 patients. The lawsuit against Siouxland Urology Center in Dakota Dunes and doctors alleges that the former patients could have been exposed to blood-borne infections because medical equipment that was intended for single-patient use was reused at the clinic. U.S. District Judge Karen Schreier ruled that the complaint did not meet all the requirements for class action status. The plaintiffs, identified as Iowa residents, seek more than $5 million on allegations that include negligence, medical malpractice, and emotional distress. |
|
|
|
|
|
|
N.O. casino owner sued over secondhand smoke
Class Action |
2011/03/10 12:41
|
A lawsuit seeking class-action status accuses Harrah's New Orleans Casino of failing to protect its employees from dangerous levels of secondhand smoke. The mother of a former Harrah's dealer who died of cancer last year filed the federal suit Wednesday against the casino's owner, Nevada-based Caesars Entertainment Corp. The suit claims Maceo Bevrotte Jr.'s cancer was "directly linked" to his prolonged exposure to secondhand smoke at the casino. The suit says Bevrotte worked at Harrah's for about 15 years. The lawsuit seeks unspecified damages and asks a judge to certify the case as a class action for at least 1,000 current, former or future nonsmoking casino employees. Caesar's spokesman Gary Thompson said the company doesn't comment on pending litigation. |
|
|
|
|
|
|
Scott+Scott LLP Announces Class Action Lawsuit
Class Action |
2011/02/25 09:09
|
Scott+Scott LLP filed a class action complaint against Oilsands Quest Inc. ("Oilsands Quest" or the "Company") (AMEX:BQI) and certain of the Company's officers in the U.S. District Court for the Southern District of New York. The action for violations of the Securities Exchange Act of 1934 is brought on behalf of those purchasing the common stock and other publicly-traded securities of Oilsands Quest between August 14, 2006 and July 14, 2009, inclusive (the "Class Period"), including Oilsands Quest's "Exchangeable Shares" offered as consideration for the minority interest in OQI Sask on August 14, 2006; Oilsands Quest's "units" first publicly offered on December 5, 2007 at $5.00 per unit; Oilsands Quest common stock shares publicly offered on December 5, 2007 on a flow-through basis at $6.11 ($6.17 CDN) per share; and Oilsands Quest's "units" first publicly offered on May 1, 2009 at $0.85 per unit. If you purchased Oilsands Quest common stock or other Oilsands Quest securities during the Class Period and wish to serve as a lead plaintiff in the action, you must move the Court no later than 60 days from today. Any member of the investor class may move the Court to serve as lead plaintiff through counsel of its choice, or may choose to do nothing and remain an absent class member. If you wish to discuss this action or have questions concerning this notice or your rights, please contact Scott+Scott, http://www.scott-scott.com for more information. There is no cost or fee to you. The complaint filed in the action charges that, during the Class Period, Oilsands Quest and certain of its officers and directors overstated the value of the Company's assets by more than $136 million in violation of Generally Accepted Accounting Practices ("GAAP"). As alleged in the complaint, on August 14, 2006, Oilsands Quest acquired the minority interest in its operating subsidiary, OQI Sask, that the Company did not already own. The Complaint alleges that Oilsands Quest's Class Period financial reports and statements issued thereafter were false and misleading in that: (a) defendants failed to properly account for Oilsands Quest's acquisition of the minority interest of OQI Sask in August 2006, materially overstating the value of OQI Sask throughout the Class Period; (b) Oilsands Quest's financial statements overstated the value of the Company's interest in OQI Sask and were presented in violation of GAAP throughout the Class Period; and (c) contrary to defendants' Class Period assurances, the Company's internal controls were inadequate to prevent it from improperly inflating the value of its assets. |
|
|
|
|
|
|
France's Publicis faces $100 million gender bias lawsuit
Class Action |
2011/02/21 09:10
|
A former public relations employee has sued Publicis Groupe SA for $100 million, saying the French advertising company discriminates against women in pay and promotions. Women make up 70 percent of the company's public relations staff but hold only about 15 percent of leadership positions, the lawsuit says. "A Publicis woman's place is in the back of the line, far removed from senior management positions, almost all of which are reserved for the men," the complaint contends. The case was filed in U.S. District Court in Manhattan and seeks class-action status. It was filed by Monique da Silva Moore, who was global healthcare director in the Boston office of the company's public relations division MSLGroup. "We generally do not comment on pending litigation, but we can say that the fact that the Equal Employment Opportunity Commission dismissed Ms da Silva's charge reflects the lack of merit to her claims," a spokeswoman for MSLGroup said.
|
|
|
|
|
|
|
Fixodent The Subject Of Class Action Lawsuit
Class Action |
2011/02/14 09:24
|
A class action lawsuit is alleging that Fixodent denture cream may have caused serious problems. ABC News reported that lawyers for two former denture cream users are accusing Proctor & Gamble of manufacturing a product that made their clients extremely ill. Mark Jacoby, a 41-year-old construction worker who wore dentures for 20 years, told ABC News that he believes his debilitating neurological illness is due to the high zinc content in his Fixodent. "I started getting tingling in my fingertips. And then it started happening in my toes," he told ABC News' 20/20 anchor Chris Cuomo, who is the Chief of the Law & Justice Unit. "I started getting weaker and, you know, I couldn't walk right, off balance and I'm at this point now." He said his doctors searched for years for the cause of his debilitating neurological illness that robbed him of his independence.
|
|
|
|
|
|
|
Class action or a representative action is a form of lawsuit in which a large group of people collectively bring a claim to court and/or in which a class of defendants is being sued. This form of collective lawsuit originated in the United States and is still predominantly a U.S. phenomenon, at least the U.S. variant of it. In the United States federal courts, class actions are governed by Federal Rules of Civil Procedure Rule. Since 1938, many states have adopted rules similar to the FRCP. However, some states like California have civil procedure systems which deviate significantly from the federal rules; the California Codes provide for four separate types of class actions. As a result, there are two separate treatises devoted solely to the complex topic of California class actions. Some states, such as Virginia, do not provide for any class actions, while others, such as New York, limit the types of claims that may be brought as class actions. They can construct your law firm a brand new website and help you redesign your existing law firm site to secure your place in the internet. |
Law Firm Directory
|
|