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US appeals court upholds roadless rule in forests
Headline Topics |
2011/10/25 10:45
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A federal appeals court on Friday upheld a rule prohibiting roads on nearly 50 million acres of land in national forests across the United States, a ruling hailed by environmentalists as one of the most significant in decades.
Mining and energy companies, however, say it could limit development of natural resources such as coal, oil and natural gas.
The 10th U.S. Circuit Court of Appeals backed the 2001 Roadless Area Conservation Rule after lawyers for the state of Wyoming and the Colorado Mining Association contended it was a violation of the law.
Supporters of the roadless rule say the court's decision preserves areas where outdoor enthusiasts like to hunt, fish, hike and camp. It also protects water quality and wildlife habitat for grizzly bears, lynx and Pacific salmon, supporters say.
Without the roadless rule, protection of these national forests would be left to a patchwork management system that in the past resulted in millions of acres lost to logging, drilling and other industrial development, said Jane Danowitz, director of the Pew Environment Group's U.S. public lands program. |
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Dyer Berens LLP Files Class Action Lawsuit
Network News |
2011/10/25 09:48
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Dyer amp; Berens LLP announced that it has filed a class action lawsuit in the United States District Court for the District of Colorado on behalf of all persons who purchased or otherwise acquired the common stock of AgFeed Industries, Inc. between March 16, 2009 and August 2, 2011, inclusive. AgFeed is engaged in the animal nutrition and commercial hog producing businesses in China and maintains its principal executive offices in Colorado.
What actions may I take at this time?
If you purchased or acquired shares during the Class Period and wish to serve as a lead plaintiff, you must request appointment by the court no later than December 19, 2011. A lead plaintiff works with counsel to direct the litigation and participates in important decisions, including the amount of compensation to accept in settlement of the class action. The lead plaintiffs here will be selected from among applicants claiming the largest loss from their investment in the Company during the Class Period.
What are the allegations in the complaint?
The complaint contains allegations that, during the Class Period, defendants issued materially false and misleading statements regarding the Company's business. Specifically, the defendants misrepresented and concealed from the investing public that, among other things: (i) AgFeed's formula-based analysis for determining accounts receivable and calculating reserves for doubtful accounts did not take into consideration the individual repayment abilities of its customers; (ii) the Company's accounts receivable were materially overvalued and its allowances for doubtful accounts were significantly under-reserved; and (iii) the Company exaggerated its market edge as the combination of overstated assets and understated expenses resulted in an illusion of heightened profitability and Company value. Based upon the foregoing, the complaint charges the Company and certain of its officers with violations of the Securities Exchange Act of 1934.
About Dyer amp; Berens LLP.
The plaintiffs are represented by Dyer amp; Berens LLP. The firm's extensive experience in securities litigation, particularly in cases brought under the Private Securities Litigation Reform Act, has contributed to the recovery of hundreds of millions of dollars for aggrieved investors. For more information about the firm, please visit www.dyerberens.com. |
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Izard Nobel LLP Announces Class Action Lawsuit
Press Release |
2011/10/24 10:45
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The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Middle District of Tennessee on behalf of purchasers of the securities of AgFeed Industries, Inc. between March 16, 2009 and August 2, 2011 (the Class Period).
The Complaint charges that AgFeed and certain of its officers and directors violated federal securities laws. Specifically, the Complaint alleges that defendants failed to disclose the following: (i) AgFeed's collection efforts and credit dealings with its animal nutrition customers were not working because the formula based analysis AgFeed relied on in determining accounts receivable and reserves for doubtful accounts was flawed; (ii) allowances for doubtful accounts were undervalued; (iii) accounts were overvalued and bad debts were undervalued, causing reported asset values to be overstated and expenses to be understated; and (iv) as a result, AgFeed exaggerated its market edge creating an illusion of heightened profitability.
On August 2, 2011, AgFeed announced preliminary financial results for the second quarter of 2011 that were well below expectations and that it expected to post a loss of $17 million, as it added $5 million in allowances for its bad debt expenses. Additionally, on August 9, 2011, AgFeed disclosed to the SEC that it would withdraw the Registration Statement for its animal nutrition business.
If you are a member of the class, you may, no later than December 19, 2011, request that the Court appoint you as lead plaintiff of the class. 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.
While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, and your rights, visit: www.izardnobel.com/agfeed/, or contact Izard Nobel LLP toll-free: (800)797-5499, or by e-mail: firm@izardnobel.com. For more information about class action cases in general, please visit our website: www.izardnobel.com. |
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Judge deciding if convicted killer gets DNA tests
Headline Topics |
2011/10/24 10:44
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A Texas death row inmate is trying to convince the courts to force prosecutors to turn over knives, clothing and other evidence for DNA testing that his attorneys say could prove his innocence.
But prosecutors say the request from 49-year-old Henry Watkins Skinner is an empty tactic to delay his execution next month.
Both sides will lay out their arguments Monday before a federal magistrate judge in Amarillo. The hearing comes after the U.S. Supreme Court ruled that Skinner could ask for the untested evidence but left unresolved whether prosecutors had to surrender the items.
Skinner was convicted for the 1993 deaths of his girlfriend, Twila Busby, and her two adult sons, Elwin Scooter Caler and Randy Busby. They were killed on New Year's Eve at their home. |
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