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Case ID: 3362 | Stocks | 04/27/2004
The parties have reached a tentative settlement apparently valued at approximately $611,000 in action filed against Tengasco CEO M.E. Ratliff and Tengasco, Inc. (Amex:TGC) on behalf of stockholders who purchased the company's common stock between August 1, 2001, and April 22, 2002. Persons eligible to participate in the settlement must file a proof of claim postmarked no later than July 16, 2004.
The proposed settlement consists of 129,870 shares of Tengasco common stock and 100,000 shares of Miller Petroleum, Inc., common stock from defendant Ratliff, and 300,000 three-year warrants to purchase restricted Tengasco stock at $1 per share, 150,000 shares of Miller common stock and $37,500 cash from defendant Tengasco. If you have not yet received the full printed Notice of Pendency of Class Action which describes in detail all pertinent aspects of the litigation, you may obtain a copy of these documents by identifying yourself as a class member when you write to the claims administrator: Miller v. Ratliff, and Tengasco, Inc. The settlement will not be effective until the court grants it final approval. The court has scheduled a hearing on the matter for April 29, 2004. 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 Many company retirement plans that encouraged investment in the company stock plan have taken large losses over the past few years. A class action has been filed against TV-top cablebox manufacturer Scientific-Atlanta, Inc. and certain company officials on behalf of current and former employees whose retirement plans were invested in the company's stock. The action alleges that the executives breached their fiduciary responsibilities in violation of federal labor law when they knew of the company's financial problems but continued to encourage employees to purchase stock for their plans, sometimes while selling their own shares. The action seeks compensatory and punitive damages. A class action has been filed in the District Court of Maryland against RS Diversified Growth Fund, et al and certain of its officers and directors by stockholders who purchased the company’s common stock between October 6, 1999 and October 5, 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 Corn Products International, Inc. (NYSE:CPO), certain of its officers and directors by stockholders who purchased the company's common stock between January 25, 2005 and April 04, 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. Aerosonic helps pilots get where they are headed. Several class actions have been filed against aviation instrument maker Aerosonic Corporation (Amex: AIM) and certain of its officers and directors by stockholders who purchased the company's common stock between May 3, 1999, and March 17, 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. An anti-trust class-action lawsuit has been filed against Visa, Mastercard and several major U.S. banks on behalf of merchants, alleging the fixing of credit card fees. A class action has been filed against Rambus, Inc. (RMBS), certain of its officers and directors by stockholders who purchased the company's common stock between December 12, 2001 and June 27, 2006. 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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