Legal Business 2011/10/22 10:39
On October 19, 2011, a class action lawsuit was filed in the United States District Court for the Eastern District of Missouri against K-V Pharmaceutical Company. The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material misrepresentations to the market which had the effect of artificially inflating the market price, and the manufacture and distribution of unapproved drugs through its two (2) subsidiaries, Ther-Rx and ETHEX. The class period is from February 14, 2011 through April 4, 2011.
Plaintiff seeks to recover damages on behalf of the Class. If you are a member of the Class as described above, you may move the Court no later than Monday, December 19, 2011, to serve as a lead plaintiff for the Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.
If you wish to discuss this action, participate in this or any other lawsuit, or have any questions or concerns regarding this notice, or preservation of your rights, please contact:
William B. Federman
FEDERMAN & SHERWOOD
www.federmanlaw.com
Legal Insight 2011/10/21 09:32
Planned Parenthood of Indiana can end a dispute over a law that would cut some of its public funding if it became two separate entities, with one offering abortion services and the other offering general health services, an attorney for the state told a federal appeals court Thursday.
Solicitor General Thomas Fisher said during oral arguments before the 7th Circuit Court of Appeals in Chicago that Indiana's new law is aimed at keeping taxpayer dollars "from indirectly subsidizing abortions."
He told the appeals court that Planned Parenthood of Indiana could ensure that wouldn't happen by separating its operations into two entities.
"Only by separating the two can we be sure that there's no cross-subsidy," Fisher said.
Planned Parenthood's attorney, Ken Falk of the American Civil Liberties Union, told the appeals court during the 45-minute hearing that Indiana's own Medicaid agency warned state lawmakers while they were weighing the legislation that it would violate Medicaid recipients' "freedom of choice" by targeting the abortion provider.
Legal Business 2011/10/19 11:32
Famed New York painter Chuck Close and other artists are suing Sotheby's, Christie's and eBay, contending the auctioneers willfully violated a California law requiring royalty payments on sales of their works.
The three federal suits filed Tuesday seek class-action status to represent many other artists and demand unspecified royalties and damages — which could total hundreds of thousands of dollars given current art prices.
The suits were filed on behalf of Close — best known for his enormous photorealistic paintings — along with Los Angeles artist Laddie John Dill, and the estate of late sculptor Robert Graham. Graham's works include the ceremonial gate for the Los Angeles Memorial Coliseum that was commissioned for the 1984 Olympics and features nude statues modeled on some of the athletes.
A foundation of late California painter Sam Francis also is named as a plaintiff in the suits against Christie's and eBay Inc.
Headline Legal News 2011/10/19 09:32
The 6th District Court of Appeals in Texarkana has ordered a new trial for a Cass County man convicted of killing his wife.
The Texarkana Gazette reports that the court on Wednesday granted 50-year-old David Len Moulton's request for a new trial.
Moulton was convicted and sentenced to 60 years in prison in 2010 of the 2004 death of Rebecca Moulton. Her body was found in a pond on the couple's property in Atlanta, Texas. A cause of death could not be determined.
The appeals court agreed with arguments by defense attorney Jason Horton that the jury was given an improper instruction. The instruction said jurors could convict Moulton if they determined he asphyxiated his wife by unknown means.
Headline Legal News 2011/10/17 10:01
The Supreme Court will decide whether a law making it a crime to lie about having received military medals is constitutional.
The justices said Monday they will consider the validity of the Stolen Valor Act, which passed Congress with overwhelming support in 2006. The federal appeals court in California struck down the law on free speech grounds and appeals courts in Colorado, Georgia and Missouri are considering similar cases.
The Obama administration is arguing that the law is reasonable because it only applies to instances in which the speaker intends to portray himself as a medal recipient. Previous high court rulings also have limited First Amendment protection for false statements.
The court almost always reviews lower court rulings that hold federal laws unconstitutional.
The case concerns the government's prosecution of Xavier Alvarez of Pomona, Calif. A member of the local water district board, Alvarez said at a public meeting in 2007 that he was a retired Marine who received the Medal of Honor, the nation's highest military decoration. In fact, he had never served in the military.
Press Release 2011/10/17 10:00
The law firm of Lieff, Cabraser, Heimann & Bernstein, LLP is investigating potential securities law violations as alleged in a securities class action lawsuit filed on behalf of purchasers of the common stock of Imperial Holdings, Inc. pursuant and/or traceable to the Company’s initial public offering on or about February 7, 2011 through September 27, 2011, inclusive.
Imperial Holdings shareholders, or individuals with information relating to this investigation, who wish to learn more about the action should click here or contact Sharon M. Lee of Lieff Cabraser toll free at (800) 541-7358.
Background on the Imperial Holdings Securities Class Litigation
The action is brought against Imperial Holdings, certain of its officers and directors, and the underwriters of the IPO for violations of the Securities Act of 1933. Imperial Holdings is a specialty finance company that focuses on providing premium financing for individual life insurance policies.
The action alleges that the Company’s registration statement and prospectus for the IPO, filed with the Securities and Exchange Commission, were materially false and misleading because they failed to disclose that Imperial Holdings had engaged in wrongdoing with respect to its life insurance finance business that would expose the Company and certain of its employees to government investigations.
On September 27, 2011, Imperial Holdings announced that federal investigators had served the Company with a search warrant and that it and certain of its employees, including its Chairman and Chief Executive Officer and its President and Chief Operating Officer, were under investigation in connection with the Company’s life insurance business. In response to this announcement and news of the raid on the Company's headquarters, the price of Imperial Holdings stock declined from $6.30 per share to close at $2.19 per share on September 28, 2011, on extremely heavy trading volume.
About Lieff Cabraser
Lieff, Cabraser, Heimann & Bernstein, LLP, with offices in San Francisco, New York and Nashville, is a nationally recognized law firm committed to advancing the rights of investors and promoting corporate responsibility. Since 2003, the National Law Journal has selected Lieff Cabraser as one of the top plaintiffs’ law firms in the nation. In compiling the list, the National Law Journal examined recent verdicts and settlements in addition to overall track records. Lieff Cabraser is one of only two plaintiffs’ law firms in the United States to receive this honor for the last nine consecutive years. For more information about Lieff Cabraser and the firm’s representation of investors, please visit http://www.lieffcabraser.com.