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Case ID: 5031 | Stocks | 07/16/2008
On March 28, 2008, a motion to consolidate cases, to appoint lead plaintiffs and counsels was filed. Just as quickly, on April 14, 2008, a response to the previously mentioned motion was filed by WCI Communities, Inc. At the same time, a motion to reset trial was filed on April 11, 2008. The court granted its motion to reset trial on April 14, 2008. However, the court denied the motion to consolidate cases, to appoint lead plaintiffs and counsels and entered its order on May 28, 2008.
According to a press release dated February 1, 2008, the lawsuit was filed on behalf of all persons who purchased one or more of the 239 hotel condominium units (the "Hotel Units") in The Resort at Singer Island (the "Singer Island Resort"). The Singer Island Resort is located in Palm Beach, Florida. Specifically, the complaint alleges that the Defendants violated section 12(a)(1) of the Securities Act of 1933, 15 U.S.C. § 77(l)(a)(1), by failing to register with the Securities and Exchange Commission (the "SEC") the public offering of the Hotel Units. The complaint also alleges that defendant WCI violated section 15 of the Securities Act, 15 U.S.C. § 77o, by controlling the operations of its wholly owned subsidiary, defendant Singer Island Resort, in offering the Hotel Units for sale without registering them with the SEC. The plaintiffs seek to rescind their acquisition of the Hotel Units and/or rescissory or other damages in an amount to be proven at trial.
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 American International Group, Inc. (AIG) : Shelf-Space Funds (AIG), certain of its officers and directors by stockholders who purchased the company's common stock between June 30, 2000 and June 8, 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 April 10, 2008, the complaint charges Inverness Medical and certain of its officers and directors with violations of the Securities Act. Inverness Medical engages in the development, manufacture, and marketing of consumer and professional medical diagnostic products, as well as a range of vitamins and nutritional supplements worldwide.
A class action has been filed in the Southern District Court of New York against Axis Capital Holdings, Ltd. (NYSE: AXS) and certain of its officers and directors by stockholders who purchased the company's common stock between August 6, 2003 and October 14, 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 construction equipment rental supplier United Rentals, Inc. (NYSE: URI) and certain of its officers and directors by stockholders who purchased the company's common stock between October 23, 2003 and August 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. The parties have reached a tentative $1.5 million settlement of a class action filed against automotive parts manufacturer Federal-Mogul Corporation (OTCBB: FDMLQ, formerly NYSE: FMO) and certain of its officers and directors by stockholders who purchased the company's common stock between October 22, 1998, and May 25, 2000. To recover under the settlement, a completed proof of claim postmarked no later than January 9, 2004, must be mailed to the claims administrator. A class action has been filed in the Eastern District Court of Michigan against Valassis Communications, Inc., a Michigan based company that markets and distributes coupons and newspaper advertising inserts (NYSE:VCI), and certain of its officers and directors by stockholders who purchased the company's common stock between April 25, 2002 and October 23, 2002. 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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