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Case ID: 3674 | Stocks | 09/17/2004
Several class actions have been filed against e-messaging protection and transaction services provider Zix Corporation (Nasdaq:ZIXI) and certain of its officers and directors by stockholders who purchased the company's common stock between October 30, 2003, and May 4, 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. The stockholders seek to recover compensatory damages for the loss of value of their stock.
Zix provides, among its e-messaging and transaction services, the ability for doctors to conduct online patient visits and even to write electronic prescriptions. The action alleges that, during the applicable period, Zix concealed the fact that doctors were not adopting "e-prescribing" as fast as expected. Claims that the company would achieve 1,000 deployed active doctors by the end of The lawsuit also alleges that Zix's claim that it had 4,000 deployments already on order was false because, at the time the claim was made, the physicians' offices had not even been surveyed to evaluate wireless/LAN needs. To complicate matters and further damage company financials, new offerings from Zix's Elron acquisition were allegedly delayed because of integration problems. On May 4, 2004, Zix announced its results for Q1 2004; the results showed a larger than expected loss. On this news, Zix shares fell from an opening of $14.25 per share on May 4, 2004, to close at $8.89 per share on May 6, 2004. If you purchased securities issued by Zix during the applicable period, you may request appointment by the court as a lead plaintiff if you do so by November 2, 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 plaintiffs. 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 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 Several class actions have been filed against pharmaceuticals and healthcare supply wholesaler D&K Healthcare Resources, Inc. (Nasdaq:DKHR) and certain of its officers and directors by stockholders who purchased the company's common stock between April 23, 2001, and September 16, 2002. 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 class action has been filed against China Aviation (Singapore) Corporation Ltd., (CAOLF.PK) a trader of petroleum products, including jet fuel, gas oil, fuel oil, crude oil, plastics and oil derivatives, and certain of its officers and directors by stockholders who purchased the company's common stock between February 5, 2004 and November 30, 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 Bombardier, Inc., and certain of its officers and directors by stockholders who purchased the company's common stock between Thursday, January 27, 2000 and Tuesday, May 06, 2003. 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 Red Robin Gourmet Burgers, Inc. (RRGB), certain of its officers and directors by stockholders who purchased the company's common stock between November 8, 2004 and August 11, 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 construction and facilities services firm EMCOR Group, Inc. (NYSE:EME) and certain of its officers and directors by stockholders who purchased the company's common stock between April 9, 2003, and October 2, 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 class has been certified in an action filed against Kmart Corporation board members and executives on behalf of current and former Kmart employees who had more than $100 million of the discount chain's stock in their 401(k) retirement plans when the company went bankrupt. The action alleges that the defendants violated the federal Employee Retirement Income Security Act by abrogating their fiduciary duties to plan participants. Persons eligible to take part in the action should contact attorneys for the class. |
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