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Pomerantz Law Firm Has Filed a Class Action
Headline Topics |
2011/11/10 09:43
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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. |
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MF Global faces class-action suits after bankruptcy
Headline Topics |
2011/11/07 12:29
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Two class-action lawsuits have been filed against bankrupt brokerage MF Global as customers struggle to recover funds from the first major US casualty of the European debt crisis.
On Saturday, Seattle-based Hagens Berman said it was investigating whether the company used clients' money to offset losses the company had incurred in failed investments.
It filed a lawsuit in the name of investors who bought MF Global shares between May 20 and October 28 or who bought bonds issued in August.
The complaint charged that MF Global made false and misleading statements to investors, including failing to disclose the company's reported internal control problems in segregating clients' funds.
Attorney Reed Kathrein said Friday's resignation of the company's chief executive Jon Corzine, whose activities in the last weeks of the failing firm have attracted regulator scrutiny, was not an encouraging sign.
As we continue our investigation, we hope to uncover whether the company mixed investors' and company money, and if Corzine himself played a part in that decision, he added in a statement.
Boston law firm Block amp; Leviton said Friday it had also filed a class-action lawsuit in New York federal court on behalf of MF Global clients over the same period.
It charged MF Global made certain materially false and misleading statements regarding the Company's internal financial controls and liquidity levels through its most senior officers and directors.
Investors lost some $585 million in market capitalization in the week that preceded MF Global's bankruptcy filings alone, according to Block amp; Leviton. |
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Class-action suit filed after infection scare at Ottawa clinic
Headline Topics |
2011/11/07 12:28
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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. |
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Judge mulling $410M BofA overdraft settlement
Headline Topics |
2011/11/07 12:28
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An attorney for Bank of America says 13.2 million customers may be eligible for a settlement in a lawsuit claiming the bank charged excessive overdraft fees.
The final tabulation came Monday as a Miami judge considers whether to finalize a $410 million settlement during a hearing to consider any objections or other issues related to the deal reached in May.
The class-action lawsuit contends the Charlotte, N.C.-based bank processed its debit card and check payments in a way that triggered more overdrafts and therefore more fees. Even though it agreed to the settlement, the bank insists the overdraft system was proper.
The lawsuit covers people with Bank of America debit cards between January 2001 and May 2011.
New bank regulations prohibit this type of debit card fee unless customers approve.
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Court unlikely to allow private prison to be sued
Headline Topics |
2011/11/02 08:46
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The Supreme Court seems unlikely to allow employees at a privately run federal prison to be sued by an inmate in federal court.
The high court on Tuesday heard arguments by lawyers from the GEO Group, formerly known as Wackenhut Corrections Corp. The 9th U.S. Circuit Court of Appeals ruled that Richard Lee Pollard could sue GEO officials for injuries he suffered while imprisoned in Taft, Calif.
But the company running the prison says their employees shouldn't be sued in federal court because prisoners are required to use state courts first.
Justices repeatedly questioned Pollard's lawyer about why his client did not file a state negligence lawsuit against GEO officials. Pollard's lawsuit will be dismissed if he can't sue in federal court, because the state statute of limitations has expired. |
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Justices could talk health care cases on Nov. 10
Headline Topics |
2011/10/26 09:48
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The Supreme Court could decide as early as Nov. 10 whether to hear a challenge to President Barack Obama's health care overhaul this term.
Federal appeals court rulings on health care from Atlanta, Cincinnati and Richmond are on the agenda for the justices' private conference on Nov. 10.
If they agree then to hear any or all of those cases, the decision would be announced that day or when the court meets in public session the following Monday. Such a timetable would allow the court to hear arguments over the health care law in late March and would give the justices three months to craft their opinions.
The central issue is whether the requirement for individuals to buy insurance or pay a penalty is constitutional. |
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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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