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Case ID: 4380 | Stocks | 08/09/2005
A class action has been filed against Maytag Corporation (NYSE:MYG), certain of its officers and directors by stockholders who purchased the company's common stock between March 07, 2005 and April 21, 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.
According to a press release dated July 5, 2005, the complaint alleges that, throughout the Class Period, the defendants failed to disclose and misrepresented material adverse facts which were known to defendants or recklessly disregarded by them and which caused the defendants to issue materially false and misleading financial projections, among other things, which caused the price of Maytag stock to trade at artificially inflated prices. Among other things, the complaint alleges that the defendants attempted to inflate the price of Maytag stock in an effort to secure a higher price for the company in connection with its buyout negotiations with Ripplewood Holdings LLC. 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 The parties have reached a $51 million settlement in a class action filed against former WorldCom, Inc., Chief Executive Officer Bernard Ebbers and 18 ex-WorldCom officials on behalf of employees who lost hundreds of millions of dollars when the long-distance telephone company collapsed. The action alleged that the officials violated the federal Employee Retirement Income Security Act by obtaining and retaining WorldCom stock in the company's 401(k) plans even though they knew of WorldCom's financial problems. Persons eligible to take part in the settlement should contact the attorneys for the class for more information. Everyone has heard of the Enron and Worldcom scandals. Investors lost billions of dollars as the result of stock fraud. Did you know that there are hundreds of similar cases each year that you might not have heard of where companies defrauded investors? Billions of dollars in shareholder wealth have been lost. Diversification of your stock portfolio can’t protect you from inside traders. A class action has been filed against hazardous waste management company Clean Harbors, Inc. (Nasdaq: CLHB) and certain of its officers and directors by stockholders who purchased the company's common stock between November 19, 2002, and August 14, 2003. 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. A class action has been filed against Avaya, Inc. (NYSE:AV), certain of its officers and directors by stockholders who purchased the company's common stock between October 05, 2004 and April 19, 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. The parties have reached a tentative $4.88 million partial settlement of a class action filed against FPA Medical Management, Inc. and certain of its officers and directors by stockholders who purchased the company's securities between February 3, 1997, and May 14, 1998. To recover under the settlement, a completed proof of claim postmarked no later than November 25, 2003, must be mailed to the claims administrator. A class action has been filed against Coca-Cola Enterprises, Inc. (CCE), certain of its officers and directors by stockholders who purchased the company's common stock between October 15, 2003 and July 28, 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. |
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