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Case ID: 5197 | Stocks | 10/08/2008
According to a press release dated October 4, 2008, the complaint charges GE and certain of its officers with violations of Section 10(b) and Section 20(a) of the Securities Exchange Act of 1934. The complaint asserts that during an investor conference call on September 25, 2008, defendants falsely stated that GE would not require any additional fund raising through debt, equity, or otherwise during the fourth quarter-ended December 31, 2008.
Specifically, the complaint alleges that on October 1, 2008 GE announced that it planned to offer at least $12 billion of common stock in a public offering. On October 2, 2008, before market open, GE announced the offering was to be priced at $22.25 per share, well-below the stock's prior day closing price of $24.50 per share and below its 52 week low. News that the stock offering was priced at less than the current market price caused GE's stock price to fall over 9% on October 2, 2008. If you bought General Electric Company securities and would like to obtain information about the General Electric Company lawsuit, then you are invited to call Kahn Gauthier Swick, LLC toll free at (866) 467-1400 to speak with an attorney or visit www.kgscounsel.com. 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 Unicapital Corporation (Pinksheets: UCPC.PK) has entered into a settlement of securities class action claims against it. Under the terms of the settlement Unicapiltal will establish an interest bearing fund totaling 5.2 Million Dollars from which class member claims will be paid. The settlement will not become final until it has been reviewed and approved at a fairness hearing, which has been scheduled for January 25, 2005. Parties who wish to participate in the settlement must submit a claim form no later than March 31, 2005. On March 18, 2008, the case was transferred from the Suffolk County Superior Court, Massachusetts to the U.S. District Court for the District of Massachusetts. The plaintiffs filed an Amended complaint on June 30, 2008 prior to any rulings on consolidation. According to a press release dated November 20, 2008, the Company and certain of its officers and directors are charged with violations of the Securities Exchange Act of 1934. PharmaNet is a drug development services company that maintains offices and facilities in North America, Europe, South America, Asia, Africa and Australia and has clients in the branded pharmaceutical, biotechnology, generic drug and medical device industries.
NEW ORLEANS, LA--(MARKET WIRE)—October 24, 2006 -- Kahn Gauthier Swick, LLC ("KGS") has filed the first class action lawsuit in the United States District Court for the Southern District of New York, on behalf of shareholders who purchased, exchanged or otherwise acquired the common stock of Xethanol Corp. ("Xethanol” or the "Company'') (AMEX: XNL) between January 31, 2006 and August 8, 2006 (the “Class Period”).
Several class actions have been filed against entertainment broadcaster the Walt Disney Company (NYSE: DIS) and certain of its officers and directors by stockholders who sold the company's common stock on February 9, 2004, or February 10, 2004. The actions claim that the defendants violated federal securities laws by failing to disclose that Comcast Corporation’s CEO had approached Disney with an offer to merge Disney and Comcast. Several class actions have been filed against book wholesaler Advanced Marketing Services, Inc. (NYSE: MKT) and certain of its officers and directors by stockholders who purchased the company's common stock between January 16, 1999, and January 13, 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. The stockholders seek to recover compensatory damages for the loss of value of their stock. |
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