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Case ID: 4810 | Stocks | 05/19/2006
A class action has been filed against Home Depot, Inc. (NYSE: HD), certain of its officers and directors by stockholders who purchased the company's common stock between May 29, 2001 and February 22, 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 complaint alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by the making of materially false and misleading statements concerning Home Depot's operations and financial condition which caused Home Depot's securities to trade at artificially inflated prices during the Class Period. The Complaint also alleges that throughout the Class Period, the Company deceived vendors and falsified Home Depot's financial results through fraudulent return-to-vendor ("RTV") policies. More specifically, it alleges that the defendants (a) coerced Home Depot employees to fraudulently inflate Company charges to vendors to cover the cost of defective and/or damaged merchandise; and (b) pressured suppliers who complained about excessive chargebacks by threatening to reduce orders of their products. This action seeks to recover damages on behalf of defrauded investors who purchased Home Depot securities. Plaintiff is represented by Weiss & Lurie, a law firm possessing significant experience and expertise in prosecuting class actions on behalf of defrauded shareholders in federal and state courts throughout the United States. Weiss & Lurie has been appointed by numerous courts to serve as lead counsel in class action lawsuits and in that capacity has recovered hundreds of millions of dollars on behalf of investors. If you purchased Home Depot securities between May 29, 2001 and February 22, 2005, you may move the Court no later than July 11, 2006, to serve as a lead plaintiff of the class. In order to serve as a lead plaintiff, you must meet certain legal requirements. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not affected by the decision whether or not to serve as a lead plaintiff. If you bought Home Depot, Inc. securities between May 29, 2001 and February 22, 2005, inclusive, and would like to obtain information about the Home Depot, Inc. 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 China Aviation (Singapore) Corporation Ltd., (CAOLF.PK) a trader of petroleum products, including jet fuel, gas oil, fuel oil, crude oil, plastics and oil derivatives, and certain of its officers and directors by stockholders who purchased the company's common stock between February 5, 2004 and November 30, 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 biopharmaceutical company CV Therapeutics, Inc. (Nasdaq: CVTX) and certain of its officers and directors by stockholders who purchased the company's common stock between May 14 and August 1, 2003.
A class action lawsuit has been filed on behalf of investors who traded in gold commodities between January 1, 1998 and the present against gold mine operator Barrick Gold Corporation and investment brokerage giant JP Morgan Chase & Co. The suit alleges that JP Morgan Chase and Barrick manipulated the gold market and artificially affected gold prices, to the financial harm of investors. A class action has been filed against online sports information provider Sportsline.com Inc. (Nasdaq: SPLN) and certain of its officers and directors by stockholders who purchased the company's common stock between May 15, 2001, and September 25, 2003.
Several class actions have been filed against network solutions company Descartes Systems Group, Inc. (Nasdaq:DSGX, TSE:DSG) and certain of its officers and directors by stockholders who purchased the company's common stock between June 4, 2003, and May 6, 2004. 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. The parties have reached a tentative settlement apparently valued at approximately $611,000 in action filed against Tengasco CEO M.E. Ratliff and Tengasco, Inc. (Amex:TGC) on behalf of stockholders who purchased the company's common stock between August 1, 2001, and April 22, 2002. Persons eligible to participate in the settlement must file a proof of claim postmarked no later than July 16, 2004. |
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