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Case ID: 5086 | Stocks | 07/18/2008
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.
Specifically the complaint alleges that on or about November 14, 2007, the Prospectus supplement to the Registration Statement (the "Registration Statement") with respect to the Secondary Offering, which forms part of the Registration Statement, became effective and more than 12 million shares of Inverness Medical common stock were sold to the public at $61.49 per share, thereby raising more than $737 million. The complaint alleges that the Registration Statement negligently failed to disclose the significant and severe integration issues that Inverness Medical was then experiencing and which were then impacting the Company's continuing operations.
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 According to a press release dated April 14, 2008, a class action has been commenced on behalf of purchasers of the common stock of iStar Financial Inc. pursuant and/or traceable to the Company’s secondary public offering on or about December 13, 2007, seeking to pursue remedies under the Securities Act of 1933.
Several class actions have been filed against aviation industry security product manufacturer InVision Technologies, Inc. (Nasdaq:INVN) and certain of its officers and directors by stockholders who purchased the company's common stock between March 15, 2004, and July 30, 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. An anti-trust class-action lawsuit has been filed against Visa, Mastercard and several major U.S. banks on behalf of merchants, alleging the fixing of credit card fees. A class action has been filed against Collins & Aikman Corp. (NYSE:CKC), certain of its officers and directors by stockholders who purchased the company's common stock between May 06, 2004 and March 17, 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. Several class actions have been filed against wireless telecommunications manufacturer Superconductor Technologies, Inc. (Nasdaq:SCON) and certain of its officers and directors by stockholders who purchased the company's common stock between January 9, 2004, and March 1, 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. A class action has been filed against insurance giant AIG Inc. (NYSE: AIG) and certain of its officers and directors by stockholders who purchased the company’s common stock between October 28, 1999 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. |
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