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Ryan & Maniskas, LLP Announces Class Action Lawsuit
Class Action | 2010/09/11 13:40

Ryan & Maniskas, LLP (www.rmclasslaw.com/cases/ntrs) announces that a class action lawsuit has been filed in the United States District Court for the Northern District of Illinois on behalf of purchasers of Northern Trust Corporation common stock during the period between October 17, 2007 and October 20, 2009 (the "Class Period").

For more information regarding this class action suit, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at rmaniskas@rmclasslaw.com or visit: www.rmclasslaw.com/cases/ntrs.

Northern Trust is a financial holding company that provides asset servicing, fund administration, investment management, banking and fiduciary solutions for corporations, institutions and affluent individuals worldwide. The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company's business and financial results and engaged in improper behavior that harmed Northern Trust's investors by failing to disclose the extent of its seriously delinquent commercial real estate loans and the true nature and risks associated with its once highly profitable securities lending program. As a result of defendants' false statements, Northern Trust's stock traded at artificially inflated prices during the Class Period. Additionally and as a result of this, Company insiders sold over 1.5 million shares of their Northern Trust stock for proceeds of over $106.5 million.

Then, on October 21, 2009, before the market opened, Northern Trust reported its third quarter 2009 earnings results, announcing third quarter results that fell short of expectations due in part to a serious decline in the Company's securities lending program and to continuing pressure from its non-performing loans. On this news, Northern Trust's stock fell $3.29 per share to close at $54.16 per share on October 21, 2009.

If you are a member of the class, you may, no later than October 25, 2010, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts 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. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Ryan & Maniskas, LLP or other counsel of your choice, to serve as your counsel in this action.



Statman, Harris & Eyrich, LLC Announces Class Action
Class Action | 2010/09/09 07:13

The law firm of Statman, Harris & Eyrich, LLC, which has significant experience in class actions, announced today that a class action has been filed against Almost Family Inc. ("Almost Family" or the "Company") for potential violations of state and federal law. The class action was filed on behalf of purchasers of stock during the period of November 4, 2009 -- June 30, 2010 (the "Class Period").

Almost Family, together with its subsidiaries, provides home health services in the United States, operating through two segments, Visiting Nurse and Personal Care.

The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company's operations and its business and financial results and outlook. Defendants misled investors by failing to disclose that: (i) the Company was deliberately increasing the number of unnecessary home therapy visits in order to receive increased Medicare reimbursements; and (ii) as a result of defendants' conduct, the Company's reported sales and earnings were materially inflated. As a direct result of defendants' false statements, Almost Family's common stock traded at artificially inflated prices during the Class Period, reaching a high of $43.96 per shares on April 29, 2010.

On April 26, 2010, the Wall Street Journal ("WSJ") reported that certain home health providers intentionally increased the number of in-home therapy visits to patients to coincide with higher reimbursement rates through Medicare. According to the WSJ article, the percentage of Almost Family patients receiving 10 visits dropped by 39% from 2007 to 2008, when the 10 visit reimbursement bonus was eliminated from Medicare in January 2008.

As a result of the WSJ article, the Company has come under intense scrutiny, including an inquiry by the United States Senate Finance Committee. On July 1, 2010, Almost Family announced that it had been notified that the Securities and Exchange Commission ("SEC") had launched a formal investigation of the Company. Almost Family also announced that it had received a subpoena from the SEC seeking documents related to the Company's "home health care services and operations, including reimbursements under the Medicare home health prospective payment system, since January 1, 2000." As a result of this negative news, Almost Family's common stock fell $3.88 per share or 11.11%, on July 1, 2010, on high volume.

If you purchased shares of Almost Family during the Class Period, you have until October 4, 2010 to ask the Court to appoint you as lead plaintiff for the class. If you would like more information about your shareholder rights, contact attorneys Melinda Nenning or Elizabeth Hutton for further information without any obligation or cost to you at (513) 345-8181, Ext. 3095, or by email at mnenning@statmanharris.com or ehutton@statmanharris.com.

Statman, Harris & Eyrich, LLC has offices in Chicago, Illinois; Cincinnati, Ohio; Dayton, Ohio; and Sarasota, Florida. www.statmanharris.com



The Shuman Law Firm Announces the Filing of a Class Action Lawsuit
Class Action | 2010/09/07 07:13

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 common stock of CVB Financial Corporation between October 21, 2009 and August 9, 2010, inclusive (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 alleges that CVB 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 that defendants had propped up the Company's results by manipulating CVB's accounting for costs and expenses by failing to properly account for impaired loans. On August 9, 2010, defendants disclosed that the Company was the subject of an investigation by the SEC into possible accounting violations related to the manner in which defendants accounted for troubled loans. This disclosure had an immediate impact on the price of Company shares, which fell 22% to close at $8.00 per share on August 10, 2010.

If you purchased CVB common stock during the Class Period, you may request that the Court appoint you as lead plaintiff of the class no later than October 22, 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.




Class action - Class Action Lawsuits
Class Action | 2010/09/04 20:30
In law, a 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. However, in several European countries with civil law different from the English common law principle (which is used by U.S. courts), changes have been made in recent years that allow consumer organizations to bring claims on behalf of large groups of consumers.

U.S. federal class actions

Class action lawsuits may be brought in federal court if the claim arises under federal law, or if the claim falls under 28 USCA § 1332 (d). Under § 1332 (d) the federal district courts have original jurisdiction over any civil action where the amount in controversy exceeds $5,000,000 and either 1. any member of a class of plaintiffs is a citizen of a State different from any defendant; 2. any member of a class of plaintiffs is a foreign state or a citizen or subject of a foreign state and any defendant is a citizen of a State; or 3. any member of a class of plaintiffs is a citizen of a State and any defendant is a foreign state or a citizen or subject of a foreign state. Nationwide plaintiff classes are possible, but such suits must have a commonality of issues across state lines. This may be difficult if the civil law in the various states have significant differences.

State class actions

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.[5] 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.


Wal-Mart appeals class action in top court
Class Action | 2010/08/31 05:11

Wal-Mart has petitioned the US Supreme Court to reconsider a decision by the US Court of Appeals for the Ninth Circuit affirming class action certification in a gender discrimination case, notes a Jurist report.

The company has asked the court to examine whether the Appeals Court's April ruling was proper under Title VII of the Civil Rights Act of 1964, the Due Process Clause, the Seventh Amendment and Federal Rule of Civil Procedure 23 (FRCP). Wal-Mart's position is that the class is overbroad and that the Ninth Circuit's decision is inconsistent with certification standards in multiple circuits.

Wal-Mart also contends that claims for monetary relief cannot be certified under FRCP 23, which it says only applies to claims to injunctive relief. The report states that the case was filed in 2001 by female Wal-Mart employees who contend that Wal-Mart's nationwide policies result in lower pay for women than men in comparable positions and longer waits for management promotions than men.



Thousands sign on for $10 billion BP suit
Class Action | 2010/08/30 08:20

The revelation that BP's Texas City refinery emitted toxic benzene for more than a month has ignited a furor in the port community that has suffered its share of deadly industrial accidents and toxic spills.

Thousands of residents who fear they may have been exposed to the known carcinogen released at the oil refinery from April 6 to May 16 have been flooding parking lots and conference halls where local trial attorneys hosted information sessions and sought clients for class-action lawsuits against the oil giant.

BP faces the new challenge just as it is reaching a key milestone in another crisis — plugging the Gulf of Mexico well that blew out in an oil spill disaster that is costing the company billions of dollars.

On Wednesday, more than 3,400 people lined the hallways and sidewalks around the Nessler Center to sign on to a $10 billion class-action lawsuit filed Tuesday in Galveston federal court by Friendswood attorney Anthony Buzbee.

The lawsuit alleges the release of 500,000 pounds of chemicals - including 17,000 pounds of benzene - has jeopardized the health and property values of people who live and work in the area. At the nearby College of the Mainland, a separate town hall meeting drew a crowd of 600.

"I've never seen anything like this," Buzbee said, looking at the lines waiting to enter a large room at the civic center where lawyers helped people fill out paperwork. "I can't believe this is mass hysteria and that everybody here is a faker," Buzbee said.

Webster-based lawyer Chad Pinkerton said he's met with about 8,000 residents over the past week. "I believe this is probably the largest prolonged release in Texas history and many, many people are sick," he said.

Word of the lawsuits spread this week, propelled in part by rumors that BP was cutting checks to head off the benzene claims from the $20 billion fund established to pay claims related to the oil spill.



Wal-Mart wants women's pay class-action suit thrown out
Class Action | 2010/08/26 03:58

Wal-Mart asked the Supreme Court Wednesday to throw out a class-action lawsuit against it that the retailer says is the largest employment suit ever.
The 9th U.S. Circuit Court of Appeals ruled in April that Wal-Mart should face charges in court that it pays women less than men for the same jobs. The lawsuit, which covers all female workers at Wal-Mart since 1998, could cost the company billions if it loses.

"It's an extremely significant case," says former Equal Employment Opportunity Commission general counsel Eric Dreiband, who is not involved in the lawsuit. "The rights of millions of women are at stake."

Wal-Mart, the world's largest private employer, says the case raises serious issues about procedures governing class-action lawsuits.

"The class is larger than the active-duty personnel in the Army, Navy, Air Force, Marines and Coast Guard combined — making it the largest employment class action in history by several orders of magnitude," Wal-Mart argued in its petition to the Supreme Court.



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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, lawyer website templates and help you redesign your existing law firm site to secure your place in the internet.
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