|
Search
Search through the thousands of lawsuits, complaints and recalls on our site.
 |
Case ID: 2714 | Stocks | 12/29/2004
A class action has been filed against Constar International Inc. (Nasdaq: CNST), a global producer of polyethylene terephthalate (PET) plastic containers for food and beverages, and certain of its officers and directors by stockholders who purchased the company's common stock pursuant to Constar's November 2002 Initial Public Offering (IPO). The action claims that the defendants violated federal securities laws by issuing a prospectus/registration statement in connection with the IPO that was materially false and misleading. The stockholders seek to recover compensatory damages for the loss of value of their stock.
Constar was originally a wholly-owned subsidiary of Crown Cork & Seal Company Inc. Crown decided to sell some of the Constar common shares to the public in the IPO. The action alleges that the prospectus/registration statement failed to disclose, among other things, that: (1) Constar was then experiencing an unseasonably low demand in its carbonated soft drink bottle business; (2) Constar was then experiencing an adverse impact in the company's revenue stream due to the "pass-through" of lower resin costs; (3) Constar was then experiencing an adverse trend in the company's conventional PET container shipments; (4) Constar's management had changed its focus just prior to the IPO and purposely reduced its higher volume preforms, causing a fourth-quarter revenue shortfall; and (5) Constar's goodwill was impaired but the defendants failed to timely take an impairment charge. 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 Several class actions have been filed against aviation industry security product manufacturer InVision Technologies, Inc. (Nasdaq:INVN) and certain of its officers and directors by stockholders who purchased the company's common stock between March 15, 2004, and July 30, 2004. 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. On February 28, 2008, a stipulation and proposed order in regards to consolidating related securities actions was entered. Just as quickly, a motion to appoint lead plaintiff, lead counsel as well as to consolidate cases was filed on March 18, 2008 by several groups and individuals. As a result, the court entered an order on March 27, 2008 to consolidate case 08-CV-1000 under 08-CV-897 for all purposes. As for the appointment of lead plaintiffs and counsels, the court granted the motion filed earlier and entered its order on April 18, 2008.
Several class actions have been filed against newspaper publisher Hollinger International, Inc. (NYSE: HLR) and certain of its officers and directors by stockholders who purchased the company's common stock between August 13, 1999, and March 31, 2003. 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. The stockholders seek to recover compensatory damages for the loss of value of their stock. According to a law firm press release dated September 5, 2008, a class action complaint has been filed against the company and certain current and former officers and directors. The Complaint alleges violations of Section 11 and Section 15 of the Securities Act of 1933, including allegations of material misrepresentations and omissions in Quest's Registration Statement and Prospectus issued in connection with the Initial Public Offering ("IPO") on November 7, 2007. The class period begins with the IPO on November 7, 2007 and continues through August 25, 2008.
Several class actions have been filed against Russian petroleum producer Yukos Oil Company (OTC BB:YUKOF.PK; OTC BB:YUKOY.PK; Russia:YUKO) and certain of its officers and directors by stockholders who purchased the company's common stock between February 13, 2003, and October 25, 2003. The actions claim that the defendants violated federal securities laws by failing to disclose that they were using questionable tax schemes to minimize corporate and business taxes owed to the Russian government over this time period, thereby artificially inflating the price of the company's securities. Several class actions have been filed against global telecommunications provider Primus Telecommunications Group, Inc. (Nasdaq:PRTL), and certain of its officers and directors by stockholders who purchased the company's common stock between November 11, 2003, and July 29, 2004, including all those who purchased securities in Primus' January 13, 2004, debt
offering. 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.
|
|
© 2000 - 2008 Copyright. All rights reserved nola3, llc.
