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Berman DeValerio Announces Securities Class Action
Press Release |
2011/08/22 10:36
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The law firm of Berman DeValerio filed a securities class action lawsuit today against Miller Energy Resources, Inc.
The lawsuit alleges violations of United States securities laws on behalf of purchasers of common stock from December 16, 2009 through and including August 1, 2011 (the “Class Period”).
Berman DeValerio (www.bermandevalerio.com) brought the complaint against the Company and certain of its directors and officers (the “Defendants”) in the United States District Court for the Eastern District of Tennessee. The case is filed as 3:11-cv-00397.
Pursuant to the Private Securities Litigation Reform Act of 1995, investors wishing to serve as the lead plaintiff are required to file a motion for appointment with the court no later than October 11, 2011.
The claims arise under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, 15 U.S.C. §§ 78j(b) and 78t(a), (the “Exchange Act”), and Rule 10b-5 promulgated thereunder by the United States Securities and Exchange Commission (the “SEC”) for class period purchasers.
The complaint alleges that throughout the Class Period, Miller, an oil and gas exploration, production and drilling firm, and the other Defendants made material false statements about Miller’s financial results and about the valuation of certain oil-and-gas-producing assets it acquired in Alaska. Specifically, the complaint alleges that Defendants: (1) issued false and misleading consolidated balance sheets, statements of operations and cash flows; (2) failed to properly classify royalty expenses; (3) failed to properly record sufficient compensation expense on equity awards; (4) did not properly calculate the liability for derivative instruments; (5) did not properly consolidate entities under its control; and (6) improperly reported the value of certain oil and gas assets that it acquired in Alaska. As a result of these problems, the Company was required to restate its financial results. Over a series of almost daily disclosures occurring on July 28, 2011, July 29, 2011 and August 1, 2011, Miller’s stock price dropped from $7.04 per share on July 27, 2011 to a close of $3.37 per share on August 2, 2011, a total drop of $3.67 or 52%.
To receive a copy of the complaint, please call Berman DeValerio at (800) 516-9926.
If you are a member of the class, you may, no later than October 11, 2011, request that the court appoint you as lead plaintiff for the class. In addition, you may contact the attorneys at Berman DeValerio to discuss your rights and interests in the case. Please note: you may also retain counsel of your choice and need not take any action at this time to be a class member.
Berman DeValerio is a national law firm representing plaintiffs in lawsuits against corporate wrongdoers, chiefly for violations of securities and antitrust laws. The firm has 49 lawyers in Boston, San Francisco and South Florida. |
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ACLU sues feds for shackling immigrant detainees
Lawyer Media News |
2011/08/19 09:03
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The American Civil Liberties Union and other groups have filed a lawsuit in San Francisco federal court seeking to stop a practice in which alleged illegal immigrants are shackled at the feet, waist and wrists while appearing in immigration court.
The groups allege in the suit filed Monday that a blanket policy that allows the immigrants to remain chained for up to 12 hours the day they're due in court violates constitutional bans against cruel and unusual punishment.
According to the lawsuit, the overwhelming majority of prisoners who show up in immigration courts have no violent criminal history. The lawsuit seeks to compel the Department of Homeland Security to make individual determinations about shackling rather than have a blanket policy. DHS officials declined to comment Wednesday.
The lawsuit applies only to immigrants appearing in San Francisco immigration courts. But attorneys who filed the lawsuit said Wednesday that they hope it prompts changes to the system in other cities.
We'd like to convince them to follow their own policy and at least add some humanity to it and recognize it's a painful and hurtful thing to shackle people like that, said Paul Chavez, senior attorney for the Lawyers' Committee for Civil Rights in San Francisco, one of the groups who filed the lawsuit.
The groups allege that shackling everyone at an immigration hearing amounts to cruel and unusual punishment. The lawsuit seeks class action status to represent prisoners transported to and appearing in immigration court in shackles in San Francisco. |
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Former U.S. attorney Lampton dies at 60
Lawyer Media News |
2011/08/19 09:03
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Dunn Lampton, a former U.S. attorney in Mississippi who prosecuted two civil rights-era cold cases and a complex corruption case involving a wealthy attorney and state judges, has died. He was 60.
Among Lampton's best known cases was the prosecution of James Ford Seale, a reputed Ku Klux Klansman who died in prison this month. Seale was convicted in 2007 of two counts of kidnapping and one of conspiracy to commit kidnapping in the 1964 deaths of Henry Hezekiah Dee and Charles Eddie Moore, both 19.
Lampton died Wednesday evening, according to former acting U.S. Attorney Donald Burkhalter, one of the prosecutors who served after Lampton's 2009 retirement
He was a hell of a trial lawyer and he did a good job as U.S. attorney, Burkhalter said Thursday. I think he always tried to do the right thing.
The cause of death was not immediately released, but Lampton had been in declining health. The U.S. attorney's office said the funeral will be at 1 p.m. Saturday at Covenant Presbyterian Church in Jackson. Burial will be private.
President George W. Bush appointed Lampton as U.S. Attorney for the Southern District of Mississippi in September 2001, putting him in charge of federal prosecutions in 45 counties.
Among the highlights of Lampton's career were prosecutions in two civil rights-era cases that led to the convictions of reputed Klansmen Seale and Ernest Avants. |
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Whitey Bulger's girlfriend pleads not guilty
Court Line News |
2011/08/18 09:32
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The longtime girlfriend of reputed Boston crime boss James Whitey Bulger pleaded not guilty Thursday to helping him elude authorities during his 16 years as a fugitive.
Catherine Greig, 60, entered her plea in a brief appearance in federal court in Boston that lasted less than five minutes. She also waived a reading of the indictment.
Greig was indicted last week on a charge of conspiracy to harbor and conceal a fugitive, a crime that carries a maximum sentence of five years. Greig has been jailed since she and Bulger were captured in June in Santa Monica, Calif. Bulger has pleaded not guilty to participating in 19 murders.
Prosecutors say Greig actively helped Bulger escape capture, but her attorney says she's a subservient woman who wasn't aware of the extent of Bulger's alleged crimes when she fled with him.
On Thursday, Greig smiled at her twin sister when she entered the courtroom. She did not speak during the hearing, except to tell the judge she understood the charges against her and was ready to enter her plea.
After the hearing, Greig's attorney Kevin Reddington was asked if Greig was cooperating with authorities against Bulger. |
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Court dismisses part of NM whistleblower case
Topics in Legal News |
2011/08/18 09:31
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Attorney General Gary King and a state agency can take charge of legal efforts to recover money for New Mexico for some investment deals allegedly influenced by political considerations, a state court ruled Wednesday.
District Judge Stephen Pfeffer also dismissed portions of a whistleblower's lawsuit involving allegations of a pay-to-play scheme in investment deals by the State Investment Council, which oversees permanent funds worth more than $15 billion. The judge's ruling allows the council and the attorney general to handle those legal claims.
The lawsuit by Frank Foy, a former chief investment officer of the state's educational pension fund, will continue on other allegations, including that the state lost money on bad investments by the Educational Retirement Board and some by the council and that politics influenced some of the pension's fund investments.
The Investment Council filed a lawsuit in May claiming that its former top manager and a financial advisory firm improperly steered New Mexico investments to political supporters of former Democratic Gov. Bill Richardson. More than a dozen other defendants were named, including third-party placement agents who earned millions of dollars in fees on investment deals.
Former State Investment Officer Gary Bland has said the allegations are absurd and he was not involved in any wrongdoing. |
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NY man suing Facebook must explain missing items
Lawyer Media News |
2011/08/17 09:31
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A judge gave Facebook access to the personal email accounts of a man suing for half ownership of the social networking website and ordered him to explain why he can't produce documents its lawyers believe are evidence.
Proof that Paul Ceglia's case is a fraud has been sitting on a Chicago law firm's email server since 2004, Facebook attorney Orin Snyder told the federal judge on Wednesday.
An email that Ceglia sent to a former business associate at the firm includes a scanned version of the two-page contract he and Facebook founder Mark Zuckerberg signed, Snyder said. Unlike the one Ceglia filed, it doesn't mention Facebook, only a street-mapping database Ceglia had hired Zuckerberg to work on, he said.
The noose is tightening around the neck of this plaintiff, and he knows it, Snyder said during a four-hour procedural hearing that had each side accusing the other of dirty tricks.
Snyder said Ceglia had artificially aged his phony contract with light and chemicals, backdated computer files and transferred others to portable storage devices, which he'd likely tossed into Lake Erie.
Ceglia's attorney, Jeffrey Lake, countered that Facebook had tried to poison the jury pool by releasing what should have been confidential documents and implied Facebook had planted damning evidence on Ceglia's computers, a statement he backed away from after the hearing. |
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