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Case ID: 5210 | Stocks | 11/06/2008
The case was removed from the State Supreme Court by the Defendants to the U.S. Federal District Court in the Southern District of New York on October 22, 2008.
The original complaint was filed in the Supreme Court New York on October 2, 2008. Pursuant to the complaint, the plaintiffs allege defendants are liable for violations of the Securities Act arising out of the sale of Merrill preferred stocks and bonds pursuant to the Offering Materials issued in connection with the Offerings identified above, which were materially false and misleading.
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 The parties have reached a $1.35 million settlement in an administrative proceeding filed by the SEC against certain former officers and directors of software company First Virtual Communications, Inc., (Nasdaq: FVCXE) on behalf of stockholders who purchased the company's common stock between January 28, 1999, and April 6, 1999. The action claimed 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. Claim forms must be postmarked on or before September 21, 2004, to be considered valid. If you are looking for an electronic technology gadget, Best Buy probably has it. Several class actions have been filed against technology store operator Best Buy Company, Inc. (NYSE: BBY) and certain of its officers and directors by stockholders who purchased the company's common stock between January 9, 2002, and August 7, 2002. 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 parties have reached a tentative $15.25 million settlement in a class action filed against sportswear company Ashworth, Inc., (Nasdaq:ASHW) and certain of its officers and directors by stockholders who purchased the company's common stock between September 4, 1997, and July 15, 1998. A claims deadline had apparently not yet been set as of July 9, 2004. Persons eligible to take part in the settlement should contact the attorneys for the class for more information. A class action has been filed against InfoSonics Corporation (IFO), certain of its officers and directors by stockholders who purchased the company's common stock between May 8, 2006 and June 12, 2006. 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 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.
Several class actions have been filed against French power utility ALSTOM, SA (NYSE: ALS) and certain of its officers and directors by stockholders who purchased the company's common stock between November 17, 1998, and June 29, 2003. 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. |
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