LawCash Links

Recommended

A class action has been filed against membership shopping warehouse operator PriceSmart, Inc. (Nasdaq: PSMT) and certain of its officers and directors by stockholders who purchased the company's common stock between December 20, 2001, and November 7, 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.

On March 03, 2008, a stipulation and order was entered. Just as quickly, a motion to consolidate cases and to appoint certain groups as lead plaintiffs and counsels was filed on March 18, 2008. However, on March 20, 2008, a stipulation and order substituting counsels was entered. Hence, on April 04, 2008, several responses in regards to the different motions of appointing lead plaintiffs and counsels were filed. As a result, an order granting and denying the appointment of certain groups as lead plaintiffs and counsels was entered on May 05, 2008.

According to a law firm press release, his action seeks to pursue remedies under the Securities Act of 1933 and the Securities Exchange Act of 1934.

According to a press release date April 21, 2008, the complaint charges Calamos Fund with violations of the Securities Act of 1933. Calamos Fund is a closed-end management investment company. The Fund’s investment objective is to generate a high level of current income, with a second objective of capital appreciation.

On February 28, 2008, a stipulation and proposed order in regards to consolidating related securities actions was entered. Just as quickly, a motion to appoint lead plaintiff, lead counsel as well as to consolidate cases was filed on March 18, 2008 by several groups and individuals. As a result, the court entered an order on March 27, 2008 to consolidate case 08-CV-1000 under 08-CV-897 for all purposes. As for the appointment of lead plaintiffs and counsels, the court granted the motion filed earlier and entered its order on April 18, 2008.

Several class actions have been filed against communications testing company Acterna Corporation (formerly OTCBB: ACTRQ) and certain of its officers and directors by stockholders who purchased the company's common stock between August 1, 2001, and October 30, 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.