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Case ID: 4322 | Stocks | 06/28/2005
A class action has been filed against DRDGOLD Limited (f/k/a Durban Roodepoort Deep, Limited) (NasdaqSC:DROOY), certain of its officers and directors by stockholders who purchased the company's common stock between October 23, 2003 and February 24, 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.
Several purported shareholder class action lawsuits have been filed against DRDGOLD Limited and certain of its present and former executive officers alleging that defendants violated federal securities laws. Specifically, defendants made numerous statements regarding: (i) the successful restructuring of the Company's North West Operations in South America; (ii) the Company's ability to reduce the negative impact of the increasing value of the South African Rand versus the U.S. Dollar; and (iii) the increasing strength of the Company's balance sheet. In truth, the Company's problems with its North West Operations were never fully resolved and resulted in the Company being forced to record an impairment charge for the full value of its mining assets there. Despite representations to the contrary, DRDGOLD continued to be negatively impacted by the increasing value of the South African Rand. Further, these problems resulted in the Company being forced to announce that it might not be able to operate as a going concern. When this information was belatedly disclosed to the public, shares of DRDGOLD fell more than 25%. If you bought DRDGOLD Limited (f/k/a Durban Roodepoort Deep, Limited) securities between October 23, 2003 and February 24, 2005, 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 According to the complaint, this class action is brought on behalf of the public shareholders of Constellation Energy Group, Inc. ("Constellation" or the "Company"), against the Company and its Board of Directors (the "Board" or the "Individual Defendants"), MidAmerican Energy Holdings Co. ("MidAmerican") and MEHC Merger Sub, Inc. ("MEHC"), alleging violations of Section 14(a) of the Securities Exchange Act of 1934 (the "Exchange Act") and Rule 14a-9 promulgated thereunder by the United States Securities and Exchange Commission ("SEC"), as well as breaches of fiduciary duty under Maryland law.
A class action has been filed against Alliance Capital Management Holding L.P. (NYSE: AC) and certain of its subsidiaries, officers and directors by investors who purchased shares in any AllianceBernstein mutual fund between October 2, 1998 and September 29, 2003.
Kahn Gauthier Swick is investigating possible legal actions, against stockbrokers and other investment advisors, on behalf of investors who lost $100,000 or more. When an investor believes that his or her stockbroker or investment advisor acted improperly, the investor will naturally seek compensation for the losses suffered as a result of the broker's or advisor's misconduct. Most investor disputes against stockbrokerage firms and investment advisors are resolved through individual actions rather than class actions. A class action has been filed in the Southern District Court of California against Charlotte Russe Holding, Inc. (NASDAQ:CHIC) and certain of its officers and directors by stockholders who purchased the company's common stock between January 22, 2004 and December 6, 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 PHH Corporation (PHH), certain of its officers and directors by stockholders who purchased the company's common stock between May 12, 2005 and March 1, 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. A class action has been filed against specialty pharmaceutical company American Pharmaceuticals Partners, Inc. (Nasdaq: APPX) and certain of its officers and directors by stockholders who purchased the company's common stock between February 19, 2002, and September 24, 2003. |
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