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Case ID: 4307 | Stocks | 06/14/2005
A class action has been filed against United American Healthcare Corporation (NasdaqSC:UAHC), certain of its officers and directors by stockholders who purchased the company's common stock between May 26, 2000 and April 22, 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.
According to a press release dated May 27, 2005, the complaint charges that United American Healthcare and certain of its officers and directors violated Sections 10(b) and 20(a) of the Securities and Exchange Act by failing to disclose the Company's improper business and financial relationship with a legislator having oversight of UAHC's Healthplan. According to the complaint, this relationship was in violation of the Company's contract with Tennessee and has caused the State of Tennessee to place UAHC's Healthplan under administrative supervision. The complaint alleges that as a result, investors could not understand or accurately assess the extent to which UAHC's ongoing operations, reported revenue, and income were dependent upon the improper political payments scheme. If you bought United American Healthcare Corporation securities between May 26, 2000 and April 22, 2004, 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 A.G. Edwards (NYSE:AGE), and its officers and directors by stockholders who purchased the company's common stock between January 1st, 1990 and February 3rd, 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. A class action has been filed against financial giant Morgan Stanley (NYSE: MWD) and certain of its subsidiaries by investors who purchased shares in any Morgan Stanley mutual fund between October 1, 1999, and December 31, 2002. The action charges that the defendants engaged in an unlawful and deceitful course of conduct designed to improperly financially advantage themselves to the detriment of class members. According to a law firm press release, on May 22, 2008 a class action lawsuit was filed on behalf of persons who purchased Auction Rate Securities from Bank of America Corp. (NYSE: BAC), Banc of America Investment Services, Inc., and Banc of America Securities, LLC.
A class action has been filed against Rhodia S.A. (NYSE:RHA), certain of its officers and directors by stockholders who purchased the company's common stock between April 26, 2001 and March 23, 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 EchoStar Communications Corporation (NasdaqNM:DISH), certain of its officers and directors by stockholders who purchased the company's common stock between August 10, 2004 and March 09, 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. A class action has been filed against clearing broker Bear Stearns & Company, Inc.
by stockholders who purchased ML Direct, Inc. securities from Sterling Foster & Company during the approximately three-and-a-half months that followed ML Direct's December 2001 IPO. The action claims that the Bear Stearns violated federal securities laws by facilitating Sterling Foster's alleged fraudulent short selling scheme involving the IPO securities.
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