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Case ID: 5180 | Stocks | 09/22/2008
According to a press release dated September 18, 2008, a class action lawsuit against Lord, Abbett & Co. LLC and Lord Abbett Distributor LLC ("Lord Abbett") on behalf of investors who received class A shares of certain multi-class Lord Abbett stock mutual funds after investing less than $50,000, and thus paid a sales charge of 5.75%. The complaint alleges Lord Abbett violated Section 10(b) of the Securities Exchange Act of 1934, 15 U.S.C. Sec. 78j(b), and Rule 10b-5, 17 C.F.R. Sec. 240.10b-5.
Specifically, the complaint alleges Lord Abbett defrauded investors by disseminating prospectuses containing incomplete and misleading information for the following mutual funds: Affiliated Fund; All Value Fund; Developing Growth Fund; Growth Opportunities Fund; Large Cap Core Fund; Large Cap Growth Fund; Large Cap Value Fund; Mid Cap Value Fund; Small Cap Blend Fund; Small Cap Value Fund; Value Opportunities Fund; Alpha Strategy Fund; Diversified Equity Strategy Fund (formerly Income Strategy Fund); Global Allocation Fund; International Core Equity Fund; America's Value Fund; Balanced Strategy Fund; Diversified Income Strategy Fund; Growth & Income Strategy Fund (formerly World Growth & Income Strategy Fund); International Dividend Income Fund; Developing Local Markets Fund. The complaint asserts that Lord Abbett knowingly marketed class A shares as the best performing alternative, when class B and/or class C shares, otherwise identical, would have been the best investment choice. The misleading disclosures actually omitted information from the fund prospectuses and allowed Lord Abbett to earn greater profits at the expense of plaintiff and class members. As a result, investors suffered considerable 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 A class action has been filed against accounting firm Ent & Imler Group, P.C. (ENTCPA) and certain of its officers and directors by stockholders who purchased investment notes offered by the firm on behalf of the Church Extension of the Chruch of God between April 30, 1998 and April 30, 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 securities. The stockholders seek to recover compensatory damages for the loss of value of their stock. A class action has been filed against Brocade Communication Systems, Inc. (NasdaqNM:BRCD), certain of its officers and directors by stockholders who purchased the company's common stock between February 21, 2001 and May 15, 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 the Complaint, Plaintiff brings this class action on behalf of all persons similarly situated, (the "Class"), other than Defendants and their affiliates, who (1) purchased or otherwise acquired the common shares of EnerNOC, Inc. ("EnerNOC" or the "Company) between November 1, 2007, through and including, February 27, 2008, (the "Class Period"); and/or (2) purchased or otherwise acquired EnerNOC common stock pursuant to Prospectus on Form 424B4 filed November 13, 2007 ("November 13 Prospectus") between November 13, 2007 through and including February 27, 2008, for violations of the federal securities laws. Plaintiff seeks to recover damages caused to the Class by Defendants' violations of Section 11 of the Securities Act of 1933 (the "Securities Act") and Section 10(b) of the Securities Exchange Act of 1934 (the "Exchange Act").
A class action has been filed against LeapFrog Enterprises, Inc. (NYSE:LF), certain of its officers and directors by stockholders who purchased the company's common stock between February 11, 2004 and October 18, 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 settlement in several consolidated class actions filed against electric power generation systems developer Plug Power, Inc. (Nasdaq:PLUG) and certain of its officers and directors by stockholders who purchased the company's common stock between February 14, 2000, and August 2, 2000. 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. Persons eligible to take part in the settlement should contact attorneys for the class for more information. A class action has been filed against Blue Coat Systems, Inc. (NasdaqNM:BCSI), certain of its officers and directors by stockholders who purchased the company's common stock between February 20, 2004 and May 27, 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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