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Case ID: 2640 | Stocks | 09/08/2004
A class action has been filed against Bank One Corporation (NYSE: ONE) and certain of its officers and directors by persons who exchanged their First Commerce Corporation (formerly Nasdaq: FCOM) common stock for shares of Banc One Corporation (as it was then known) common stock pursuant to the registration statement and merger proxy/prospectus issued in connection with the June 12, 1998, merger of First Commerce with, and into, Banc One, and who still owned their Bank One stock on August 24, 1999.
On October 2, 1998, Banc One Corporation and First Chicago NBD Corporation merged to become Bank One Corporation. First Commerce Corporation was a bank holding company based in New Orleans, Louisiana. It is not related to First Commerce Corporation (OTCBB: FCMM) of Charlotte, North Carolina, which owns First Commerce Bank. The court certified the class in this action on March 28, 2003.
At Lawcash.com, it is our goal to keep you informed about important legal cases, class actions and settlements. Our lawyers offer free legal evaluations in tort cases, class actions, personal injury, and other lawsuits because we are dedicated to helping you resolve your legal complaints. Other Stocks Cases of Interest A class action has been filed against Lazard Ltd. (NYSE:LAZ), certain of its officers and directors by stockholders who purchased the company's common stock between May 04, 2005 and May 12, 2005. The action claims that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. The stockholders seek to recover compensatory damages for the loss of value of their stock. A class action has been filed against Morgan Stanley DW, Inc., and certain of its officers and directors by stockholders who purchased the company's common stock between January 01, 1990 and January 20, 2005. The action claims that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. The stockholders seek to recover compensatory damages for the loss of value of their stock. The parties have reached a tentative $1 million settlement of several class actions filed against Internet gambling operation Gaming Lottery Corporation (formerly Nasdaq: GLCCF) and certain of its officers and directors by stockholders who purchased the company's common stock, or the common stock of Laser Friendly, Inc. between February 1, 1995, and May 24, 1996. The actions claim that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. To recover under the settlement, a completed proof of claim postmarked no later than February 14, 2004, must be mailed to the claims administrator. A class action has been filed against the online movie rental service Netflix, Inc. and certain of its officers and directors by stockholders who purchased the company’s common stock between October 1, 2003 and July 15, 2004. The action claims that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company’s securities. The stockholders seek to recover compensatory damages for the loss of value of their stock. Argosy Gaming Company shareholders have filed a class action suit against the company, its chairman and board members, claiming an announced merger with Penn National Gaming Co. does not adequately compensate shareholders given the company's "stellar third quarter 2004 financial results." According to the suit the defendants breached their fiduciary duty by not representing the full value of Argosy. A recent financial report showed that Argosy's earnings had risen substantially over the previous year. Earnings per share were 71 cents, up from 56 cents last year. Argosy's net income also rose from $38.1 million during last year's third quarter report to $43.7 million in the same reporting period this year. "Argosy shareholders will, if the transaction is cosummated, be deprived of the opportunity for substantial gains which the Company may realize," according to the suit. A class action has been filed against Blockbuster, Inc. (BBI), certain of its officers and directors by stockholders who purchased the company's common stock between September 8, 2004 and August 9, 2005. The action claims that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. The stockholders seek to recover compensatory damages for the loss of value of their stock. |
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