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Lieff, Cabraser, Heimann Bernstein, LLP Announces Class Action Lawsuits
Legal Marketing News |
2011/08/26 10:18
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The law firm of Lieff, Cabraser, Heimann amp; Bernstein, LLP is investigating potential securities law violations as alleged in class action lawsuits brought on behalf of all purchasers of American Depository Shares (“ADS”) of SinoTech Energy Limited (“SinoTech” or the “Company”) between November 3, 2010 and August 16, 2011 (the “Class Period”), including purchasers of SinoTech ADSs in the Company’s initial public offering (the “IPO”) on November 3, 2010.
If you purchased or acquired SinoTech ADSs during the Class Period and/or in the IPO, you may move the Court for appointment as lead plaintiff by no later than October 18, 2011. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the action will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the action.
SinoTech shareholders who wish to learn more about the action and how to seek appointment as lead plaintiff should click here or contact Sharon Lee of Lieff Cabraser toll free at (800) 541-7358. |
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$168 million securities fraud settlement proposed
Legal Marketing News |
2011/08/12 10:38
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The New York State Common Retirement Fund has announced a proposed $168 million settlement of its securities fraud class-action lawsuit against National City Corp. alleging misrepresentations to investors.
State Comptroller Thomas DiNapoli, trustee of the $146.5 billion fund and lead plaintiff, says the defendants agreed to the settlement but admitted no wrongdoing.
PNC Financial Services Group Inc., which bought Cleveland-based National City in 2008, declined to comment.
The suit alleges National City misrepresented the quality of its mortgages and home equity loans and the severity of its losses.
The settlement is expected to go before U.S. District Judge Solomon Oliver Jr. in the Northern District of Ohio for preliminary approval in the next few weeks, with all class members notified after that. |
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Bank of America starts overdraft rebate outreach
Legal Marketing News |
2011/08/09 09:28
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If you had a Bank of America account with a debit card between January 2001 and May of this year, you may be due some cash.
The nation's largest bank has started contacting customers who may be entitled to a refund. It recently reached a class-action settlement over the way it charged overdraft fees. Most of the other suits are continuing to work their way through federal court in Florida.
Bank of America agreed to set up a $410 million fund to settle the lawsuit. The money will be used to pay back customers who were charged overdraft fees as a result of the company's policy of processing debit card transactions based on the size of the transaction, rather than when the purchases occurred.
The bank is one of about three dozen named in a series of class-action lawsuits over the practice of reordering. A policy that became widespread in the 2000s, reordering involves deducting purchases from an account starting with the largest dollar amount first. That means a customer may end up paying additional overdraft fees.
For instance, someone with an account balance of $95 and who made three purchases in one day, the first for $5, the next for $25 and the last for $75, would be charged two overdraft fees, rather than one.
The suits claim that reordering was done to intentionally increase the number of overdraft fees collected. Banks took in about $39 billion in overdraft fees annually before the Federal Reserve put new rules in place last year. Now banks are required to obtain a customer's written permission before providing overdraft protection.
To inform customers that they may be eligible for a refund of some overdraft fees, Bank of America is sending postcards to customers with a brief explanation of the settlement and the address of a website where more information is available. |
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Ryan Maniskas, LLP Announces Class Action Lawsuit Against Ebix, Inc.
Legal Marketing News |
2011/07/15 22:21
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Ryan amp; Maniskas, LLP (www.rmclasslaw.com/cases/ebix) 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 purchasers of the common stock of Ebix, Inc. (Ebix or the Company) (NASDAQ: EBIX) between May 6, 2009 through June 30, 2011, inclusive (the Class Period).
For more information regarding this class action suit, please contact Ryan amp; 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/ebix.
Ebix supplies software and electronic commerce solutions to the insurance industry. The Complaint alleges that during the Class Period, Defendants issued a series of materially false and misleading statements regarding the Company's business and financial results. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company's tax provisions did not conform to Generally Accepted Accounting Principles; (2) the Company overstated its account receivables; (3) the Company consistently failed to tie customer payments to specific invoices; (4) the Company lacked adequate internal and financial controls; and (5) as a result of the foregoing, the Company's statements were materially false and misleading at all relevant times.
On March 24, 2011, Seeking Alpha published a report (Report”) accusing the Company of engaging in a number of accounting manipulations, including: (a) manipulating stated organic growth; (b) overstating profit margins; (c) overstating its accounts receivables; (d) manipulating tax liabilities; and (e) inflating cash flows. The Report concluded that the Company’s problems run deeper than accounting. The EBIX story also comes with multiple auditor resignations, governance abuses, misrepresented organic growth, questionable cash flow and a contentious CEO.” On this news, the Company’s shares plummeted $7.20 per share, or nearly 24%, to close on March 24, 2011, at $22.52 per share, on unusually heavy trading volume.
On June 30, 2011, the media reported that the shareholders of Peak Performance Solutions, Inc. (Peak”), who sold their business to Ebix, filed a lawsuit in the United States District Court for the Southern District of Ohio, claiming that Ebix was consistently unable to bill customers properly, tie customer payments to invoices, and provide basic financial data or calculate revenues for Peak. On this news, the Company's shares declined an additional $1.30 or more than 6% and closed at $19.05.
If you are a member of the class, you may, no later than September 12, 2011, 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 amp; Maniskas, LLP or other counsel of your choice, to serve as your counsel in this action.
For more information about the case or to participate online, please visit: www.rmclasslaw.com/cases/ebix or contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218, or by e-mail at rmaniskas@rmclasslaw.com. For more information about class action cases in general or to learn more about Ryan amp; Maniskas, LLP, please visit our website: www.rmclasslaw.com.
Ryan amp; Maniskas, LLP is a national shareholder litigation firm. Ryan amp; Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide. |
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More psych evaluation in castration killing case
Legal Marketing News |
2011/05/02 09:23
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A doctor will pay a second visit to a Portuguese model accused of castrating and killing a TV journalist in a Times Square hotel before his lawyer decides whether to pursue a psychiatric defense in the attack.
A psychiatrist visited Renato Seabra this month but needs a second evaluation of the 21-year-old model, defense attorney David Touger said Friday. Seabra was transferred two weeks ago from Bellevue Hospital to jail at Rikers Island, Touger said.
He is medicated because he has a psychiatric illness. He is doing well under the circumstances that he is under, Touger said after a short pretrial hearing in state Supreme Court in Manhattan.
Seabra, a former contestant on a Portuguese talent-search show, has pleaded not guilty to murder in Carlos Castro's Jan. 7 death. Castro, a 65-year-old Portuguese TV personality and writer, was found dead, naked and bloodied in a room they were sharing. |
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Lynberg Watkins
Legal Marketing News |
2010/09/03 07:18
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Since its inception, Lynberg amp; Watkins has grown to represent clients on a local, regional and national basis. The firm maintains two California offices: one in the center of the Los Angeles financial district and one in the heart of Orange County.
The firm has experienced continued growth since its founding in 1971 allowing it to actively practice in many diverse areas of the law. The firm's representation is substantially on behalf of defendants, insurance companies and their insureds, public entities and self-insuring organizations.
We are structured into teams providing clients with the benefits of collective experience and knowledge.nbsp; Senior members of the firm have the responsibility for supervising a team comprised of associate attorneys, paralegals and support personnel.nbsp; Each client matter is assigned to one senior member of the firm who bears the ultimate responsibility for its handling from inception through trial. The senior member and associates are at all times readily accessible and available to the client.
The firm includes attorneys who are long-standing members of the American Board of Trial Advocates, the Association of Southern California Defense Counsel, The Defense Research Institute, The International Association of Defense Counsel and California SuperLawyers.nbsp; Our trial attorneys have tried literally hundreds of cases to verdict, both simple and highly complex, in state and federal courts throughout the country.nbsp; We are able to provide our clients with a level of trial experience rarely found in most firms, regardless of size.
a href=http://www.lynberg.com/about-ushttp://www.lynberg.com/about-us/a |
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