Class Action Times

Alaska conspiracy trial scheduled in federal court

(Class Action Times) — Tue, 08 May 2012 11:17:53 -0700

Three Alaska men are scheduled to go on trial Monday in Anchorage on charges of plotting to kill government employees.

Fairbanks militia leader Schaeffer Cox of Fairbanks, Coleman Barney of North Pole and Lonnie Vernon of Salcha were arrested 14 months ago and also face weapons charges.

The Fairbanks Daily News-Miner reports the arrests followed an FBI investigation of Cox that began in 2010.

Cox has described himself as a sovereign citizen.

The FBI classifies the sovereign citizen movement as domestic terrorism movement known for clogging the court system with fraudulent liens and lawsuits.

Cox ran for state House in the Republican primary in 2008. In 2009 he started a gun rights organization, the Second Amendment Taskforce, which staged large rallies in Fairbanks.

Glancy Binkow & Goldberg LLP Announces Class Action

(Class Action Times) — Tue, 08 May 2012 11:17:30 -0700

Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been filed in the United States District Court for the Northern District of Illinois on behalf of all persons or entities who purchased or otherwise acquired the common stock of Groupon, Inc. pursuant and/or traceable to the allegedly false and misleading Registration Statement and Prospectus issued in connection with Groupon’s November 4, 2011 initial public offering, including purchasers of Groupon common stock between February 8, 2012 and March 30, 2012.

Groupon operates an e-commerce marketplace that connects merchants to consumers by offering goods and services at a discount in North America and internationally. The Complaint alleges that defendants misrepresented or failed to disclose that: (a) the Company materially understated refund reserves for fourth quarter 2011 due to a failure to properly account for coupon refunds; (b) as a result, the Company materially misstated its previously reported fourth-quarter and full-year 2011 financial results; and (c), the Company lacked adequate internal and financial controls.

No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased Groupon common stock pursuant or traceable to the Company’s November 4, 2011 initial public offering, and/or during the Class Period described above, you have certain rights, and have until June 4, 2012 to move for lead plaintiff status. To be a member of the class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent class member.

www.glancylaw.com

NY court upholds firing of hedge fund officer

(Class Action Times) — Tue, 08 May 2012 11:17:15 -0700

New York's top court has upheld the firing of a hedge fund compliance officer who says he confronted its chief executive about improperly selling personal stock before doing the same for clients.

The Court of Appeals ruled 5-2 in rejecting Joseph Sullivan's damages claim against Peconic Partners, Peconic Asset Management and fund President William Harnisch.

The majority says New York common law generally gives an employer the "unimpaired" right to fire an at-will employee, with a few exceptions. It says there is no exception for wrongful discharge of a hedge fund's compliance officer.

Dissenters say the court should expand an exception it has carved out for lawyers who get fired for insisting on professional ethics. They say the majority ruling "facilitates the perpetuation of frauds."

Court to decide if deportation ruling retroactive

(Class Action Times) — Tue, 01 May 2012 10:03:33 -0700

The Supreme Court will decide whether to apply retroactively its 2010 decision that immigrants have a right to be told that a guilty plea could lead to their deportation.

The high court on Monday agreed to hear an appeal from Roselva Chaidez, who was in the process of being deported when the court made that March 2010 decision.

Chaidez pleaded guilty to fraud in 2004 after falsely claiming to be a passenger in a car wreck. Authorities started deportation procedures while she was applying for U.S. citizenship in 2007.

Her lawyer never told her that her fraud conviction may lead to her deportation. Chaidez says she should be able to take advantage of the Supreme Court decision that cemented that principle.

Court to decide if deportation ruling retroactive

(Class Action Times) — Mon, 30 Apr 2012 09:05:24 -0700