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Case ID: 4228 | Stocks | 03/15/2005
A class action has been filed against Fox Entertainment Group, Inc. (NYSE:FOX), a entertainment company and certain of its officers and directors by stockholders who purchased the company's common stock between January 10, 2005, and the date that News Corp. consummates its purchase of Fox. 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.
According to a press release dated February 25, 2005, on February 8, 2005, a class action lawsuit was filed on behalf of purchasers of the securities of Fox Entertainment Group, Inc., seeking remedies under the Securities Exchange Act of 1934. The action is pending against the Company, News Corporation, and certain of Fox and News Corporation's officers and directors. Fox Entertainment Group, Inc. is a multi-faceted entertainment company with operations in four business segments, including Filmed Entertainment, Television Stations, Television Broadcast Network and Cable Network Programming. The complaint alleges that throughout the Class Period, Defendants violated Section 14(e) of the Exchange Act. The complaint states that the registration statement that Defendant News Corp. has filed with the Securities and Exchange Commission in connection with its offer to acquire the remaining Fox Class A shares that it does not already own (the "Offer") is materially misleading and incomplete by its omission of the following information: (a) the nature and extent of the conflicts of interest suffered by the members of the special committee, (b) how News Corp. arrived at the exchange ratio in the Offer and its determination that the Offer represents "full and fair value for the Fox shareholders," (c) the analyses performed by News Corp.'s financial advisors and the information relied upon by those advisors in rendering any fairness opinions concerning the offer, (d) financial projections (and the assumptions underlying those projections) for News Corp. prepared by News Corp.'s management, and (e) financial projections (and the assumptions underlying those projections)for Fox prepared by News Corp. and/or Fox management. Several similar class action lawsuits were filed and are currently pending in the Court of Chancery in the State of Delaware. If you bought Fox Entertainment Group, Inc. securities between January 10, 2005, and the date that News Corp. consummates its purchase of Fox inclusive, and would like to obtain information about the lawsuit, then you are invited to call (866) 467-1400 to speak with an attorney. 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 A class action has been filed against Omnicare, Inc. (OCR), certain of its officers and directors by stockholders who purchased the company's common stock between August 3, 2005 and January 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. According to a press release dated April 30, 2008, the complaint charges Arbitron and certain of its officers and directors with violations of the Securities Exchange Act of 1934. The Company, through its subsidiaries, provides media and marketing information services in the United States and internationally. The Company's Portable People Meter ratings service is purportedly capable of measuring radio, broadcast television, cable television, Internet broadcasts, satellite radio and television audiences, and retail store video and audio broadcasts.
Bonds are normally a very safe investment vehicle. Several class actions have been filed against numerous parties connected to eleven municipal bond offerings in California, Florida, Illinois, and Texas on behalf of persons who purchased the bonds between December 1996 and March 1999. The $130,000,000+ in bonds related to Heritage Healthcare, were to be used to acquire, renovate, and reopen former hospitals in the states as facilities designed to assist elderly persons-- instead, the funds were allegedly diverted and misused so that all of the facilities went into bankruptcy shortly after the bond offerings. A class action has been filed in the Western District Court of Oklahoma against Dobson Communications, a wireless communications services provider, (NASDAQ: DCEL) and certain of its officers and directors by stockholders who purchased the company's common stock between May 19, 2003 and August 9, 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 neonatal and perinatal physician services provider Pediatrix Medical Group, Inc. (NYSE: PDX) and certain of its officers and directors by stockholders who purchased the company's common stock between April 17, 2002, and June 23, 2003. A class action has been filed against diversified manufacturing and service company Tyco International, Ltd (NYSE: TYC) and its CEO by stockholders who purchased the company's common stock between December 30, 2002, and March 12, 2003. |
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