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Case ID: 2755 | Stocks | 09/30/2003
The parties have reached a tentative $750,000 settlement of a class action filed against adult entertainment and multimedia enterprise Metro Global Media, Inc. (Pink Sheets: MGMA, formerly OTCBB: MGMA) and certain of its officers and directors by stockholders who purchased the company's common stock between September 13, 1996, and September 13, 1999. 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. To recover under the settlement, a completed proof of claim postmarked no later than October 27, 2003, must be mailed to the claims administrator.
The settlement will not be effective until the court grants it final approval. The court has scheduled a hearing on the matter for November 17, 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 On June 23, 2008, the Court entered the Order consolidating two cases under case, 08 Civ. 3758. On July 7, 2008, the Court entered the Stipulation and Order appointing Kevin Cornwell and John M. Grady as co-lead plaintiffs for the class. Further, according to the Order, Cornwell's and Grady's selection of the law firms of Coughlin Stoia Geller Rudman & Robbins L.L.P. and Scott + Scott, L.L.P. to serve as Lead Counsel is approved. A class action has been filed against CIB Marine Bancshares Inc. (CIBH.PK), and certain of its officers and directors by stockholders who purchased the company's common stock between August 27, 1999 and August 01, 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. According to a law firm press release, a class action was filed against the company seeking to pursue remedies under the Securities Exchange Act of 1934 against defendants Hexion Specialty Chemicals, Inc., and certain individuals. According to a law firm press release, a class action has been commenced on behalf of purchasers of MRV Communications, Inc. common stock during the period between March 31, 2003 and June 5, 2008 (the "Class Period"). The complaint charges MRV and certain of its current and former officers with violations of the Securities Exchange Act of 1934.
- Kahn Gauthier Swick, LLC ("KGS") announces that shareholders of Inphonic, Inc. ("Inphonic" or the “Company”) (NasdaqGM:INPC - News) who purchased shares of the Company between August 2, 2006 and May 3, 2007 (the "Class Period"), have until July 6, 2007 to move for appointment as Lead Plaintiff in a securities class action lawsuit currently pending in the United States District Court for the District of Columbia. No class has yet been certified in this action. Several class actions have been filed against healthcare facility operator Dynacq International (Nasdaq: DYIIE, formerly Nasdaq: DYII) and certain of its officers and directors by stockholders who purchased the company's common stock between January 14, 2003, and December 18, 2003. The actions claim that the defendants fraudulently certified that Dynacq's financial statements for the first three quarters of fiscal 2003 were compiled in compliance with Generally Accepted Accounting Principles. The stockholders seek to recover compensatory damages for the loss of value of their stock. |
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