|
|
|
Ala. county files for largest municipal bankruptcy
Topics in Legal News |
2011/11/10 09:46
|
Alabama’s most populous county filed what became the largest municipal bankruptcy in U.S. history in an effort to retake control of its beleaguered sewer system and wipe away as much of its whopping $4.15 billion in debt as possible.
Jefferson County’s Chapter 9 filing on Wednesday gives it protection from creditors while it develops and negotiates a plan for adjusting its debts. It could accomplish that by extending debt maturities, reducing the amount of principal or interest, or refinancing the debt by obtaining a new loan.
Perhaps the biggest is the potential impact on the county’s 658,000 residents, who could be asked to pay higher sewer rates. Officials say it’s too early to assess the full impact, though bankruptcy filings can lead to layoffs, tax increases, pension reductions for public workers, and spending cuts on things like schools and roads. |
|
|
|
|
|
|
Pomerantz Law Firm Has Filed a Class Action
Court Line News |
2011/11/10 09:46
|
Pomerantz Haudek Grossman amp; Gross LLP has filed a class action lawsuit against Diamond Foods, Inc. and certain of its officers. The class action (CV 11 5399 RS) filed in the United States District Court, Northern District of California, is on behalf of all persons or entities who purchased or otherwise acquired the securities of Diamond during the period from December 9, 2010 through and including November 4, 2011 (the Class Period), seeking to pursue remedies under the Securities Exchange Act of 1934 (the Exchange Act). This class action is brought under Sections 10(b) and 20(a) of the Exchange Act, 15 U.S.C. Sections 78j(b) and 78t(a); and SEC Rule 10b-5 promulgated thereunder by the SEC, 17 C.F.R. Section 240.10b-5.
If you are a shareholder who purchased DMND securities during the Class Period, you have until January 6, 2012 to ask the Court to appoint you as lead plaintiff for the class. A copy of the complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Rachelle R. Boyle at rrboyle@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll free, x350. Those who inquire by e-mail are encouraged to include their mailing address and telephone number.
The Complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose that: (1) the Company overstated its earnings by improperly accounting for certain crop payments to walnut growers; (2) the Company's acquisition of Pringles snack business would be delayed; (3) that the Company lacked adequate internal and financial controls; and (4) that, as a result of the foregoing, the Company's financial results were materially false and misleading at all relevant times.
The Pomerantz Firm, with offices in New York, Chicago and Washington, D.C., is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com. |
|
|
|
|
|
|
Court upholds conviction in Pa. murder case
Headline Legal News |
2011/11/08 09:22
|
The Supreme Court used its first opinion of the new term on Tuesday to uphold the murder conviction of a man in a Pennsylvania grocery store shooting.
The high court on Tuesday upheld Eric Greene's conviction in the 1993 shooting death of the owner of a grocery store in North Philadelphia.
Greene had complained that the confessions of some of the men who were with him at the time of the shooting should not have been introduced at his trial since they were not testifying. The introduction of those redacted confessions violated his right to confront his accusers, Greene said.
The 3rd U.S. Circuit Court of Appeals upheld his conviction, despite the fact that the Supreme Court had decided a similar case in 1998 that would have supported Greene's claim.
The Supreme Court, which heard arguments on this case in October, unanimously agreed with the lower court. The 1998 decision in Gray v. Maryland came after the Pennsylvania Supreme Court ruled on Greene's case, noted Justice Antonin Scalia, who wrote the term's first opinion of an argued case. |
|
|
|
|
|
|
Supreme Court looks at warrantless GPS tracking
Lawyer Media News |
2011/11/08 09:21
|
The Supreme Court has expressed deep reservations about police use of GPS technology to track criminal suspects without a warrant.
But the justices appeared unsettled Tuesday about how or whether to regulate GPS tracking and other high-tech surveillance techniques.
The court heard arguments in the Obama administration's appeal of a court ruling that threw out a drug conspiracy conviction because FBI agents and local police did not have a valid search warrant when they installed a GPS device on the defendant's car and collected travel information.
The justices were taken aback when the lawyer representing the government said police officers could install GPS devices on the justices' cars and track their movements without a warrant.
The court has previously ruled there is no expectation of privacy on public roads. |
|
|
|
|
|
|
Saxena White P.A. Files a Securities Fraud Class Action
Legal Marketing News |
2011/11/08 09:21
|
Saxena White P.A. announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York on behalf of investors who purchased Agnico-Eagle Mines Limited common stock on the New York Stock Exchange between April 29, 2010 and October 19, 2011, inclusive.
The action charges Agnico-Eagle and certain of its officers with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The Complaint alleges that, throughout the Class Period, the Company's financial results were artificially inflated by virtue of the fact that the Company concealed material adverse problems present at its Goldex Mine which eventually forced the Company to shut down the mine and write off a $260 million investment in the mine.
On October 19, 2011, Agnico-Eagle issued a press release titled, Agnico-Eagle's Goldex mine to suspend production during investigation and remediation of water inflow and ground stability issue; book value of Goldex to be written off. The Company announced that it was suspending mining operations and gold production at its Goldex mine in Val d'Or, Quebec effective immediately. This unexpected closure forced Company to take a $260 million write off of its investment. This news shocked the market, resulting in an 18.54% decline in the value of Agnico-Eagle's stock on October 19th after the news was revealed. On that day, the shares of Agnico-Eagle closed at $46.51, down $10.59, on unusually high New York Stock Exchange volume.
You may obtain a copy of the complaint and join the class action at www.saxenawhite.com. If you purchased the shares of Agnico-Eagle Mines Limited between the period of April 29, 2010 and October 19, 2011, inclusive, you may contact Joe White or Greg Stone at Saxena White P.A. to discuss your rights and interests.
If you purchased Agnico-Eagle Mines Limited during the Class Period of April 29, 2010 and October 19, 2011, inclusive, and wish to apply to be the lead plaintiff in this action, a motion on your behalf must be filed with the Court no later than January 6, 2012. You may contact Saxena White P.A. to discuss your rights regarding the appointment of lead plaintiff and your interest in the class action. Please note that you may also retain counsel of your choice and need not take any action at this time to be a class member.
Tel: (561) 394-3399
Fax: (561) 394-3382
www.saxenawhite.com |
|
|
|
|
|
|
Class-action suit filed after infection scare at Ottawa clinic
Court Line News |
2011/11/07 12:34
|
A class-action lawsuit has been filed against a doctor and her Ottawa clinic over what health officials have described as lax infection-prevention practices.
Dr. Christiane Farazli's now-closed clinic, which conducted endoscopy procedures, has been the subject of an investigation by the Ontario College of Physicians and Surgeons.
The investigation was made public recently when the Ottawa Public Health authority revealed it was sending a letter to about 6,800 patients who had been treated at the clinic over the past decade, warning them they may have been exposed to hepatitis and HIV infection.
The suit has been launched by the Merchant Law Group LLP, a Saskatchewan-based firm that has been involved with numerous high-profile class-action lawsuits in this country.
The firm says its claim asserts that Farazli failed to consistently follow standard and statutory practices and procedures used to clean endoscopes and that patients have suffered worry, anxiety, and possible bodily injuries as a result. |
|
|
|
|
|
Legal News RSS Feed
