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Case ID: 5052 | Stocks | 07/17/2008
On May 13, 2008, a motion to appoint Ropeta Group as lead plaintiff and to approve the selection of lead counsel was filed. Just as quickly, a stipulation and order was entered and signed by Judge Julian Abele Cook on May 19, 2008.
According to a press release dated March 14, 2008, a class action has been commenced on behalf of a Class consisting of all persons who purchased unregistered securities from certain individuals, The Maximum Financial Group, Inc., Questar Capital Corporation or GunnAllen Financial, Inc. (collectively, ``Defendants'') or otherwise acquired the common stock between January 1, 2000 and March 4, 2008 (the ``Class Period''), against Defendants and certain of its officers and/or directors for violations of the Securities Exchange Act of 1934 and the Securities Exchange Act of 1933. The complaint charges that Defendants sold unregistered securities to class members in violation of Sections 12(1), 12(2) and 15 of the Securities Exchange Act of 1933, and in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The complaint alleges that, during the Class Period, Defendants sold class members unregistered securities in the form of interests in non-existent limited liability companies (``LLCs'') created by Defendant May and sold by Defendant Bluestein, through The Maximum Financial Group, Inc. and with the assistance of broker-dealer Defendants Questar Capital Corporation and GunnAllen Financial, Inc., in violation of federal securities laws and state laws.
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 Orphan Medical, Inc. (ORPH), certain of its officers and directors by stockholders. 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. Kahn Gauthier Swick, LLC ("KGS") announces that shareholders of Jones Soda Company ("Jones Soda" or the “Company”) (Nasdaq:JSDA) who purchased shares of the Company between March 9, 2007 and August 2, 2007 (the "Class Period"), have until November 5, 2007 to move for appointment as Lead Plaintiff in a securities class action lawsuit currently pending in the United States District Court for the Western District of Washington. No class has yet been certified in this action. A class action has been filed against specialty pharmaceutical company American Pharmaceuticals Partners, Inc. (Nasdaq: APPX) and certain of its officers and directors by stockholders who purchased the company's common stock between February 19, 2002, and September 24, 2003. According to a press release dated November 25, 2008, The complaint charges Savient and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Savient is a specialty biopharmaceutical company focused on developing and marketing pharmaceutical products that target unmet medical needs. The Company is developing Puricase, also referred to as pegloticase, for the control of uric acid in patients with gout, whose signs and symptoms are inadequately controlled by conventional urate lowering therapy due to ineffectiveness, dose limiting toxicity, hypersensitivity or other contraindications. 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.
The United States District Court for the Middle District of Florida has entered an order preliminarily approving the settlement of the securities class action entitled In re Sunterra Corporation Securities Litigation. |
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