Request by WVU to dismiss Big East suit denied

Court News 2011/12/29 10:33   Bookmark and Share
A Rhode Island judge on Tuesday denied a request by West Virginia University to dismiss a lawsuit filed by the Big East Conference over the university's bid to make a quick exit for the Big 12.

Providence County Superior Court Judge Michael Silverstein rejected all of the university's arguments for dismissal.

The school had argued the Rhode Island courts did not have the authority to decide the matter and should defer to the courts in West Virginia, where the first civil suit was filed in this dispute.

The university also claimed it can't be sued in Rhode Island because it has sovereign immunity as an agency of the state of West Virginia and was not properly notified by the Big East of its lawsuit.

Court spokesman Craig Berke said the timetable for future legal proceedings in Rhode Island has not been determined.

The Big East's lawsuit seeks unspecified damages and an order that West Virginia stay in the conference for 27 months.

West Virginia accepted an invitation from the Big 12 in October and hopes to join in time for the 2012 football season.

Since then the school and Big East have each sued the other and filed motions to dismiss the other's lawsuits. A West Virginia judge earlier this month refused to dismiss a university lawsuit against the Big East.

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Rigrodsky & Long, P.A. Files Securities Fraud Class Action

Headline Legal News 2011/12/29 09:48   Bookmark and Share
Rigrodsky & Long, P.A. announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York on behalf of all persons or entities who purchased or otherwise acquired the common stock of IntraLinks Holdings, Inc. between February 17, 2011 and November 10, 2011, inclusive, alleging violations of the Securities Exchange Act of 1934. The case is entitled Thaler v. IntraLinks Holdings, Inc., C.A. No. 11-CV-9528 (S.D.N.Y.). The Complaint names IntraLinks and certain of its officers and directors as defendants.

If you wish to view a copy of the Complaint, discuss this action, or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Noah R. Wortman, Case Development Director of Rigrodsky & Long, P.A., 919 North Market Street, Suite 980 Wilmington, Delaware, 19801 at (888) 969-4242, by e-mail to info@rigrodskylong.com, or at: http://www.rigrodskylong.com/news/intralinks-il.

IntraLinks, together with its subsidiaries, provides software-as-a-service (SaaS) solutions for securely managing content, exchanging critical business information, and collaborating within and among organizations worldwide.

The Complaint asserts that during the Class Period, defendants knew, or recklessly disregarded, that the positive statements concerning the Company’s business prospects, as well as the full year guidance provided by Defendants on February 17, 2011, were materially false and misleading because by end of the first quarter of 2011 a large Enterprise customer informed the Company that it was dramatically reducing its use of IntraLinks’ products going forward and that the Company would have to reducing its earnings expectations as a result. Despite their knowledge of the foregoing, however, defendants failed to disclose that their positive statements about the Company’s business prospects, or the financial guidance issued in February 2011, were no longer accurate in light of the reduced use of the Company’s products by the large Enterprise customer.

If you wish to serve as lead plaintiff, you must move the Court no later than February 4, 2012. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

http://www.rigrodskylong.com
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