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Case ID: 3743 | Stocks | 10/05/2004
A class action has been filed against high tech manufacturer Remec Incorporated (Nasdaq: REMC) and certain of its officers and directors by stockholders who purchased the company's common stock between September 8, 2003 and September 8, 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.
The complaint alleges that Remec issued numerous false and misleading statements about the company's performance and financial situation, and violated generally accepted accounting principles in it's accounting practices. When news of these irregularities emerged the stock plummeted 18% in a day. 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 The parties have reached a tentative $4.88 million partial settlement of a class action filed against FPA Medical Management, Inc. and certain of its officers and directors by stockholders who purchased the company's securities between February 3, 1997, and May 14, 1998. To recover under the settlement, a completed proof of claim postmarked no later than November 25, 2003, must be mailed to the claims administrator. A class action lawsuit has been filed in the United States District Court for the District of New Jersey, on behalf of all persons who purchased the common stock of Pharmos Corp. ("Pharmos" or the "Company") [Nasdaq:PARS] between May 5, 2003 and December 17, 2004, inclusive, (the "Class Period") against defendants Pharmos and certain officers of the Company. Several class actions have been filed against for-profit education provider Corinthian Colleges, Inc., (Nasdaq:COCO) and certain of its officers and directors by stockholders who purchased the company's common stock between August 27, 2003, and June 23, 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 class action has been filed against Bank One Corporation (NYSE: ONE) and certain of its officers and directors by persons who exchanged their First Commerce Corporation (formerly Nasdaq: FCOM) common stock for shares of Banc One Corporation (as it was then known) common stock pursuant to the registration statement and merger proxy/prospectus issued in connection with the June 12, 1998, merger of First Commerce with, and into, Banc One, and who still owned their Bank One stock on August 24, 1999.
A Class Action was filed on behalf of all persons who, from October 1, 1998 through October 1, 2001, who purchased or otherwise acquired an individual tax-deferred variable annuity contract or who received a certificate to a group tax-deferred variable annuity contract issued by Aegon USA, Inc. A class action has been filed against Escala Group, Inc. (ESCL), certain of its officers and directors by stockholders who purchased the company's common stock between September 5, 2003 and May 8, 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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