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Case ID: 4022 | Stocks | 12/07/2004
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.
Specifically, the complaint alleges that RS Diversified falsely stated that the company actively safeguarded shareholders from the effects of timing (a stock market term that pertains to mutual funds that hold shares in companies that are in different time zones). The Company recently settled a lawsuit with the Securities and Exchange Commission for similar claims. More specifically, the complaint alleges that the Company: • Employed devices, schemes and artifices to defraud As a result, the market price of RS Funds was distorted during the class period. 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 Stockholders who purchased World Wrestling Entertainment, Inc. (NYSE: WWE) common stock in its initial public offering (IPO) on October 19, 1999, have filed several class actions against the company, certain of its officers and directors, and certain of the underwriters of the IPO. According to a press release dated May 1, 2008, a class action has been commenced on behalf of all persons or entities who purchased or otherwise acquired shares of MAT Five LLC (“MAT Five”) pursuant and/or traceable to a false and misleading Private Placement Memorandum (“PPM”) on or about December 18, 2006 and/or its Supplements and who were damaged thereby.
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A class action lawsuit has been filed in the Eastern District Court of Pennsylvania against Charles E. Allen and others for violations of the Investment Company Act. Class members seek compensatory damages, the disgorgement of fees paid to investment advisors, punitive damages, attorney’s fees and costs of the litigation. The parties have reached a tentative $1 million settlement of a class action filed against now-defunct medical diagnostic products manufacturer Technical Chemicals & Products, Inc. (Pink Sheets: TCPI, formerly OTCBB: TCPI and Nasdaq: TCPI) and certain of its officers and directors by stockholders who purchased the company's common stock between November 27, 1995, and October 6, 1998. To recover under the settlement, a completed proof of claim postmarked no later than January 9, 2004, must be mailed to the claims administrator. A complaint was filed on September 24, 2008.
According to a press release dated September 23, 2008, a class action has been commenced on behalf of purchasers of Constellation Energy Group, Inc. publicly traded securities during the period between January 30, 2008 and September 16, 2008 (the "Class Period"), including the Series A Junior Subordinated Debentures (the "Preferred Securities "), pursuant and/or traceable to the Company's Registration Statement and Prospectus (collectively, the "Registration Statement") issued in connection with the Company's June 27, 2008 Preferred Securities offering.
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