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Case ID: 3224 | Stocks | 05/26/2004
Several class actions have been filed against entertainment broadcaster the Walt Disney Company (NYSE: DIS) and certain of its officers and directors by stockholders who sold the company's common stock on February 9, 2004, or February 10, 2004. The actions claim that the defendants violated federal securities laws by failing to disclose that Comcast Corporation’s CEO had approached Disney with an offer to merge Disney and Comcast. The stockholders seek to recover compensatory damages for the loss of value of their stock.
The action charges the Walt Disney Company and Michael Eisner, Disney's President and Chief Executive Officer, with violating the federal securities laws by failing to disclose that Comcast Corporation’s CEO had approached Disney with an offer to merge Disney and Comcast. After the public learned about the Comcast merger proposal on February 11, 2004, the price of Disney's common stock increased significantly. Plaintiff is represented by the law firm of Squitieri & Fearon, LLP which has significant experience and expertise prosecuting class actions on behalf of investors and shareholders. If you are a member of the class described above, you may, not later than April 20, 2004, move the court to serve as lead plaintiff of the Class, if you so choose. If you sold securities issued by Disney during the applicable period, you may request appointment by the court as a lead plaintiff if you do so by April 20, 2004. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the court must determine that your claim is typical of the claims of other class members, and that you will adequately represent the class. Under certain circumstances, one or more class members may together serve as lead plaintiff. Your ability to share in any recovery is not affected by the decision whether or not to serve as a lead plaintiff. You may retain any counsel of your choice to serve as you in this action, or you may choose to do nothing, and remain in the class as a silent member. 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 Citadel Security Software Inc. (NASDAQ: CDSS), a TX based provider of technology for security systems, and certain of its officers and directors by stockholders who purchased the company’s common stock between February 12 2004 and December 16, 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. A class action has been filed against Merrill Lynch & Co., Inc. (NYSE:MER), a certain of its officers and directors by stockholders who purchased the company's common stock between January 01, 1990 and January 21, 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. Several class actions have been filed against technology company Datatec Systems, Inc. (Nasdaq: DATCE) and certain of its officers and directors by stockholders who purchased the company's common stock between June 26 and December 16, 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. Several class actions have been filed against microelectronic manufacturer White Electronic Designs Corporation (Nasdaq:WEDC) and certain of its officers and directors by stockholders who purchased the company's common stock between January 23, 2003, and June 9, 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. A Notice of Voluntary Dismissal without Prejudice was entered on May 12, 2008 by the plaintiff.
A class action has been filed the Federal National Mortgage Corporation (Fannie Mae) (NYSE: FNM_PK) and certain of its officers and directors by stockholders who purchased the company’s common stock between January 13, 2000 and September 22, 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. |
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