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Case ID: 4461 | Stocks | 10/04/2005
Perini Corporation announced that the United States District Court for the District of Massachusetts approved the previously announced settlement of the class action lawsuit filed by holders of Perini's $2.125 Depositary Convertible Exchangeable Preferred Shares. The settlement will become final on October 24, 2005 assuming no appeals are filed by that date.
Under the terms of the settlement, Perini will issue in exchange for all of the Depositary Shares submitted in the settlement consideration per share of $19.00 in cash and one share of Perini common stock. In addition, Frederick Doppelt will resign from Perini's Board of Directors. Perini has been advised by EquiServe Trust Company, N.A., the class administrator for the settlement, that 374,185 Depositary Shares will be participating in the settlement and 185,088 Depository. Shares have opted out of the settlement and will remain outstanding. About Perini Perini Corporation is a construction services company offering diversified general contracting, construction management and design-build services to private clients and public agencies throughout the world. Perini has provided construction services since 1894 and has established a strong reputation within markets by executing large complex projects on time and within budget while adhering to strict quality control measures. 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 GrafTech International Limited (GTI), certain of its officers and directors by stockholders who purchased the company's common stock between November 3, 2005 and February 8, 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 Tag-It Pacific, Inc. (TAG), certain of its officers and directors by stockholders who purchased the company's common stock between November 14, 2003 and August 12, 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 original complaint charges Bear Stearns and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Bear Stearns, through its broker-dealer and international bank subsidiaries, provides investment banking, securities and derivatives trading, clearance, and brokerage services worldwide.
A class action has been filed against CIB Marine Bancshares Inc. (CIBH.PK), and certain of its officers and directors by stockholders who purchased the company's common stock between August 27, 1999 and August 01, 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 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 dated November 26, 2008, Aracruz is a major Brazilian manufacturer of forest products, which they market to manufacturers of consumer paper products around the world. |
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