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Case ID: 5024 | Stocks | 07/16/2008
On March 11, 2008, a motion to appoint certain individual as lead plaintiff and to appoint Abraham Fruchter & Twersky LLP as lead counsel was filed. As a result, on March 14, 2007, the Court granted motion to name a certain individual as Lead Plaintiff and appointing Abraham Fruchter & Twersky LLP as Lead Counsel. An Amended Class Action Complaint For Violation Of Federal Securities Law was filed on March 24, 2008. On April 3, 2008, an order denying the motion for undertaking and directing amendment of the caption was denied as moot. The defendant filed motion to dismiss the Amended Complaint on April 25, 2008, which is currently pending before the court.
According to a press release dated January 11, 2008, a class action commenced on behalf of a class of all persons who purchased the common stock of Interactive Brokers Group, Inc. in the Company' s initial public offering ("IPO"), which commenced on May 4, 2007, through July 5, 2007. The claims asserted arise under Sections 11 and 12(a)(2) of the Securities Act of 1933, 15 U.S.C. 00A7,Sect. 00A7,Sect. 77k and 77l(a)(2), and have been asserted against Interactive Brokers. Specifically, the complaint alleges that the Defendant made materially misleading statements and otherwise failed to disclose that it had incurred material trading losses at the time of the IPO and that its proprietary pricing model was unable to prevent such material trading losses. The subsequent disclosure of these facts after the close of trading on July 5, 2007 resulted in the price of the Company's common stock declining, causing Plaintiff and the other members of the Class to suffer damages.
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 On March 11, 2008, a motion to appoint certain individuals as lead plaintiffs, lead counsels and for consolidation of all related cases was filed. Just as quickly, a proposed order in regards to appointing lead plaintiffs, lead counsesl and for consolidation of all related cases was entered on March 7, 2008. As a result, an order granting motion to appoint lead plaintiffs and lead counsels was filed by Judge Charles R. Breyer on April 25, 2008.
A class action has been filed against Swift Transportation Co., Inc., a Phoenix Arizona based truckload carrier, (NASDAQ: SWFT) and certain of its officers and directors by stockholders who purchased the company's common stock between October 16, 2003 and October 1, 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 TXU Corporation (TXU), certain of its officers and directors by stockholders who purchased the company's common stock between September 15, 2004 and October 13, 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 November 26, 2008, Aracruz is a major Brazilian manufacturer of forest products, which they market to manufacturers of consumer paper products around the world. A class action has been filed against Omnicare, Inc. (OCR), certain of its officers and directors by stockholders who purchased the company's common stock between August 3, 2005 and January 27, 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. According to a press release dated September 19, 2008, the complaint charges CIBC and certain of its officers and directors with violations of the Securities Exchange Act of 1934. CIBC is one of Canada’s largest banking institutions, providing various financial products and services to corporate, government, and institutional clients in the U.S. and Canada.
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