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Robbins Geller Rudman & Dowd LLP Files Class Action Suit
Press Release |
2011/12/28 10:34
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Robbins Geller Rudman & Dowd LLP today announced that a class action has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of Veolia Environnement S.A. American Depositary Shares during the period between April 27, 2007 and August 4, 2011.
If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Samuel H. Rudman or David A. Rosenfeld of Robbins Geller at 800/449-4900 or 619/231-1058, or via e-mail at djr@rgrdlaw.com. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.rgrdlaw.com/cases/veolia/. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
The complaint charges Veolia and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Veolia operates utility and public transportation businesses. The Company supplies drinking water, provides waste management services, manages and maintains heating and air conditioning systems, and operates rail and road passenger transportation systems.
The complaint alleges that, during the Class Period, defendants issued materially false and misleading statements regarding the Company’s business and prospects. Specifically, defendants misrepresented and/or failed to disclose the following adverse facts: (a) that Veolia was materially overstating its financial results by engaging in improper accounting practices; (b) that the Company lacked adequate internal controls and was therefore unable to ascertain its true financial condition; (c) that Veolia failed to timely record an impairment charge for its Transport business in Morocco, Environmental Services businesses in Egypt, Marine Services business in the United States, and for Southern Europe; (d) that the Company’s revenues were being hampered by the renewal of some of its major concession contracts; and (e) that, as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about the Company and its prospects.
Robbins Geller, a 180-lawyer firm with offices in San Diego, San Francisco, New York, Boca Raton, Washington, D.C., Philadelphia and Atlanta, is active in major litigations pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations.
http://www.rgrdlaw.com |
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Kaplan Fox Files Securities Class Action
Press Release |
2011/11/16 09:47
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Kaplan Fox & Kilsheimer LLP has filed a class action suit against Jon S. Corzine, J. Randy MacDonald, Henri J. Steenkamp and certain other individuals that alleges violations of the Securities Exchange Act of 1934 on behalf of purchasers of the securities of MF Global Holdings Ltd. during the period May 20, 2010 through October 28, 2011, inclusive, including investors who purchased MF Global common stock previously traded on the New York Stock Exchange under the symbol "MF" and purchasers of the Company's debt securities.
The case is pending in the United States District Court for the Southern District of New York. A copy of the complaint may be obtained from Kaplan Fox or the Court.
The complaint alleges that in March 2010, Corzine, a former CEO of Goldman Sachs Group, Inc. and former Governor of New Jersey, became Chairman and CEO of MF Global and that after Corzine became Chairman and CEO of MF Global, the Company increased its risk and used its own money to trade, including making investments in European sovereign debt that has plummeted in value. Reportedly, Corzine's strategy was to transform the Company from a futures broker into a boutique investment bank.
The complaint further alleges that Corzine's push into more risky and principal trading with the Company's money was central to MF Global's profit-growing plan and transformation, and that Corzine and the other defendants represented that they could grow and transform the business without taking on excessive risk, while maintaining adequate capital and liquidity. Further, it is alleged that while making this transformation, Corzine and the other defendants failed to disclose that the Company was undercapitalized, exposed to excessive risk due to massive bets on debt issued by certain European governments, and did not have proper risk controls in place to manage these risks.
If you are a member of the proposed Class, you may move the court no later than January 3, 2012 to serve as a lead plaintiff for the Class. You need not seek to become a lead plaintiff in order to share in any possible recovery.
Plaintiff seeks to recover damages on behalf of the Class and is represented by Kaplan Fox & Kilsheimer LLP. Our firm, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions and actions involving financial fraud. For more information about Kaplan Fox & Kilsheimer LLP, or to review a copy of the complaint filed in this action, you may visit our website at www.kaplanfox.com.
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Izard Nobel LLP Announces Class Action Lawsuit
Press Release |
2011/11/07 12:27
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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 Northern District of California on behalf of purchasers of the common stock of OmniVision Technologies, Inc. between August 27, 2010 and October 13, 2011, inclusive.
The Complaint charges that OmniVision and certain of its officers and directors violated federal securities laws by concealing the loss of its exclusive contract with Apple. On August 25, 2011 OmniVision disclosed delays in the production of its new 8-megapixel product line. As a result, OmniVision would not be the exclusive producer of camera components for Apple's new iPhone 4S, released on October 14, 2011. In response to this news, OmniVision stock declined $7.55 per share, over 30%, to close at $17.27 on August 26, 2011. On October 14, 2011, when the iPhone 4S was released, experts examined the phone's camera and determined that Sony, not Omnivision, had supplied a key component. On this confirmation of the reduced role of the Company's components in the iPhone 4S, OmniVision stock fell $1.65 per share, or 9.3%, to close at $15.95 per share.
If you are a member of the class, you may, no later than December 27, 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/omnivision/, 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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Dyer & Berens LLP Files Class Action Lawsuit
Press Release |
2011/10/26 09:47
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Dyer & 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 & Berens LLP.
The plaintiffs are represented by Dyer & 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 10:43
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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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