|
Search
Search through the thousands of lawsuits, complaints and recalls on our site.
 |
Case ID: 5174 | Stocks | 09/08/2008
According to a press release from Signalife, Inc., the defendant has launched a countersuit against plaintiff firm Vianale & Vianale LLP and twelve large brokerage houses seeking injunctive relief against naked short-selling and market manipulation. As the release states, "The Securities and Exchange Commission has released data that the April selling of Signalife securities was not "a sell off" (as claimed by certain of the defendants) but a planned naked bear attack determined to coincide with a web cast at which the bona fides of the device were not discussed at all. In addition to the alleged unlawful taking of stock of Signalife's corporate treasury in connection with naked shorting, the illegal actions have also resulted in injuries caused to persons who have not been given access to the Companies' revolutionary technologies as a consequence of the adverse impact on the company resulting from those actions.
According to a law firm press release, a class action was filed against Signalife, Inc., which claims to research, develop and market wireless heart monitoring devices in the United States. The complaint alleges that Signalife (formerly known as Recom Managed Systems, Inc. and before that, Mt. Olympus Enterprises, Inc.), violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. Plaintiff alleges that Signalife issued false positive statements about the Company's ability to manufacture and market its Fidelity 100 Monitor System, a supposedly wireless heart monitoring device. Despite years of highly positive statements about its heart monitor, Signalife has had virtually no sales, and the Company has never had a product that was commerciallyviable. As a result, Signalife's stock was artificially inflated during the Class Period. Signalife's stock dropped on April 11, 2008 on unprecedented volume of 3,752,100 shares, when the truth came to light that Signalife's Fidelity 100 monitor system was unsalable. The Company recently announced its imminent delisting from AMEX, and its stock price has slumped to 6 cents.
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 Interlink Electronics Inc. (LINK), certain of its officers and directors by stockholders who purchased the company's common stock between April 24, 2003 and November 1, 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 parties have reached a $90 million settlement in an enforcement action filed by the SEC against mutual fund manager Pilgrim Baxter & Associates, Ltd., on behalf of stockholders who purchased the company’s mutual funds between 1996 and December 2001. 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 in the Northern District Court of California against SupportSoft, Inc. (NASQAQ: SPRT), a California bases software solutions company, and certain of its officers and directors by stockholders who purchased the company's common stock between January 20, 2004 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. Kahn Gauthier Swick, LLC hereby gives notice that it has filed a class action lawsuit in the United States District Court for the District of New Jersey on behalf of purchasers of the common stock of Vonage Holdings Corp. ("Vonage" or the "Company") (NYSE: VG). If you would like to discuss this action or have any questions about this notice or your rights, please contact us via telephone at (866) 467-1400. According to a law firm press release dated September 5, 2008, a class action complaint has been filed against the company and certain current and former officers and directors. The Complaint alleges violations of Section 11 and Section 15 of the Securities Act of 1933, including allegations of material misrepresentations and omissions in Quest's Registration Statement and Prospectus issued in connection with the Initial Public Offering ("IPO") on November 7, 2007. The class period begins with the IPO on November 7, 2007 and continues through August 25, 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.
|
|
© 2000 - 2009 Copyright. All rights reserved nola3, llc.
