Cohen Milstein Sellers & Toll PLLC Announces Class Action

Headline Legal News 2011/08/29 09:28   Bookmark and Share
Cohen Milstein Sellers & Toll PLLC announces that it has filed a class action lawsuit in the U.S. District Court for the Southern District of New York against SinoTech Energy Limited, and certain of its officers, directors and underwriters.

The lawsuit, which is captioned Crayder v. SinoTech Energy Limited, et al., 11-CV-05935, alleges violations of the United States securities laws on behalf of purchasers of SinoTech's American Depository Shares ("ADSs") from November 3, 2010 through August 16, 2011 (the "Class Period"), including purchasers of ADSs in the Company's November 3, 2010 initial public offering (the "November IPO"). Claims for November IPO purchasers arise under Sections 11, 12(a)(2) and 15 of the Securities Act of 1933 (the "Securities Act"). Claims for other Class Period purchasers fall under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") and Rule 10b-5 promulgated thereunder by the United States Securities and Exchange Commission.

The lawsuit asserts numerous problems with SinoTech's previously issued financial statements and declarations about its future prospects. Among other claims, the complaint alleges that: (1) the Company's sole import agent, which accounted for more than $100 million worth of oil drilling equipment orders, is an empty shell company with no sign of operations; (2) the Company's only chemical supplier is also an empty shell company, with little or no revenues; (3) the Company's largest subcontracting customer, which provides the vast majority of SinoTech's revenues, has unverifiable operations with minimal revenues; (4) the financial statements SinoTech issued in the United States are inconsistent with similar filings the Company made in China; (5) the Company has engaged in undisclosed related-party transactions in violation of Generally Accepted Accounting Principles; and (6) positive statements the Company made regarding its internal financial controls were false and misleading.

On August 16, 2011, a research analyst writing under the name Alfred Little published an investigative report (the "Report") detailing these and other problems at SinoTech. The day the Report was issued, the Company's stock price plummeted more than 40%, falling from $4.02 per share on August 15, 2011 to $2.35 per share at the close of trading on August 16, 2011 - a decline of $1.67 per share on unusually high trading volume. The NASDAQ halted SinoTech trading after the market closed on August 16, 2011, announcing that trading would remain halted until the Company "fully satisfied NASDAQ's request for additional information." To date, trading has not resumed.

If you purchased the common stock of SinoTech and wish to serve as lead plaintiff, you must move the Court no later than October 18, 2011 to request that the Court appoint you as lead plaintiff. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. To be appointed lead plaintiff, the Court must decide that your claim is typical of the claims of other class members, and that you will adequately represent the class. Your share in any recovery will not be enhanced or diminished by the decision whether or not to serve as a lead plaintiff. Any member of the proposed class may retain Cohen Milstein Sellers & Toll PLLC or other attorneys to serve as your counsel in this action, or you may do nothing and remain an absent class member.

Cohen Milstein Sellers & Toll PLLC has significant experience in prosecuting investor class actions and actions involving securities fraud. The firm has offices in Washington, D.C., New York, Philadelphia, Chicago, and West Palm Beach, and is active in major litigation pending in federal and state courts throughout the nation.

The firm’s reputation for excellence has repeatedly been recognized by courts which have appointed the firm to lead positions in complex multi-district or consolidated litigation. Cohen Milstein Sellers & Toll PLLC has taken a lead role in numerous important cases on behalf of defrauded investors, and has been responsible for a number of outstanding recoveries which, in the aggregate, total over a billion dollars. Prior results do not guarantee a similar outcome. For more information visit www.cohenmilstein.com.
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Del. pediatrician gets life for abusing patients

Headline Legal News 2011/08/26 10:08   Bookmark and Share
A Delaware pediatrician convicted of sexually abusing scores of young patients over more than a decade was sentenced Friday to life in prison.

Earl Bradley showed no emotion as a judge sentenced him to 14 life sentences for 14 counts of first-degree rape. Bradley was also sentenced to 165 years for multiple counts of assault and continuous sexual exploitation of a child.

Bradley was arrested in Dec. 2009 after a 2-year-old girl complained to her mother after an office visit that the doctor had hurt her.

Investigators searched his office complex, decorated with Disney characters and miniature amusement park rides, and seized dozens of homemade videos.

Bradley's public defenders presented no defense at his trial, opting instead for a swift verdict so they could more quickly appeal the judge's decision to allow the videos as evidence. The defense contends they were improperly seized by investigators acting outside the scope of their search warrant.




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No choking charges for Wis. Supreme Court justice

Headline Legal News 2011/08/26 10:07   Bookmark and Share
A conservative Wisconsin state Supreme Court justice who staved off an unusually intense campaign to replace him this summer will not face criminal charges over allegations that he tried to choke a liberal colleague, a prosecutor said Thursday.

Sauk County District Attorney Patricia Barrett, a special prosecutor in the case, said that after reviewing investigators' reports, she decided there's no basis to file charges against either Justice David Prosser or Justice Ann Walsh Bradley, who accused Prosser of choking her.

Barrett, who is a Republican, told The Associated Press that the accounts of the other justices who were present when the alleged altercation occurred varied widely, however she declined to elaborate.

"I believe a complete review of the report suggests there is a difference of opinion. There are a variety of statements about what occurred ... the totality of what did happen does not support criminal charges against either Justice Bradley or Justice Prosser," Barrett said.

Walsh Bradley accused Prosser of choking her in June while the justices were deliberating the merits of a lawsuit challenging Republican Gov. Scott Walker's contentious law stripping public workers of most of their collective bargaining rights. Walsh Bradley, 61, is seen as part of the court's three-justice liberal minority, while Prosser, a 68-year-old former Republican legislator, is considered part of the four-justice conservative majority. The factions have been feuding for years.

The court delivered its verdict the day after the alleged incident, ruling 4-3 to uphold the law and allowing it to finally take effect. As expected, Prosser voted with the majority.


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Court rules Ventas may immediately collect $102M

Headline Legal News 2011/08/23 10:27   Bookmark and Share
Health care real estate investment trust Ventas Inc. said a federal court has ruled it can immediately collect $102 million in damages awarded by a federal jury in 2009 in a judgment against HCP Inc.

The two companies had agreed to delay payment of the funds while HCP appealed the decision. In May, the U.S. 6th Circuit Court of Appeals upheld the judgment and ordered a second trial to decide punitive damages. Those proceedings are set to begin in February.

Ventas, based in Chicago, said late Monday that the U.S. District Court for the Western District of Kentucky ruled that HCP could not further delay enforcement of the judgment. In the case, Ventas accused HCP of driving up the purchase price of Sunrise Senior Living real estate investment trust.

HCP of Long Beach, Calif., said in a separate statement it will promptly pay the $102 million. It had accrued the full amount in the third quarter of 2009, and the payment will have no additional impact on its earnings.

Ventas operates a portfolio of senior housing communities, skilled nursing facilities, hospitals, medical office buildings and other properties in 47 states and two Canadian provinces.


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Former U.S. attorney Lampton dies at 60

Headline Legal News 2011/08/19 09:02   Bookmark and Share
Dunn Lampton, a former U.S. attorney in Mississippi who prosecuted two civil rights-era cold cases and a complex corruption case involving a wealthy attorney and state judges, has died. He was 60.

Among Lampton's best known cases was the prosecution of James Ford Seale, a reputed Ku Klux Klansman who died in prison this month. Seale was convicted in 2007 of two counts of kidnapping and one of conspiracy to commit kidnapping in the 1964 deaths of Henry Hezekiah Dee and Charles Eddie Moore, both 19.

Lampton died Wednesday evening, according to former acting U.S. Attorney Donald Burkhalter, one of the prosecutors who served after Lampton's 2009 retirement

"He was a hell of a trial lawyer and he did a good job as U.S. attorney," Burkhalter said Thursday. "I think he always tried to do the right thing."

The cause of death was not immediately released, but Lampton had been in declining health. The U.S. attorney's office said the funeral will be at 1 p.m. Saturday at Covenant Presbyterian Church in Jackson. Burial will be private.

President George W. Bush appointed Lampton as U.S. Attorney for the Southern District of Mississippi in September 2001, putting him in charge of federal prosecutions in 45 counties.

Among the highlights of Lampton's career were prosecutions in two civil rights-era cases that led to the convictions of reputed Klansmen Seale and Ernest Avants.

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NY man suing Facebook must explain missing items

Headline Legal News 2011/08/18 09:23   Bookmark and Share
A judge gave Facebook access to the personal email accounts of a man suing for half ownership of the social networking website and ordered him to explain why he can't produce documents its lawyers believe are evidence.

Proof that Paul Ceglia's case is a fraud has been sitting on a Chicago law firm's email server since 2004, Facebook attorney Orin Snyder told the federal judge on Wednesday.

An email that Ceglia sent to a former business associate at the firm includes a scanned version of the two-page contract he and Facebook founder Mark Zuckerberg signed, Snyder said. Unlike the one Ceglia filed, it doesn't mention Facebook, only a street-mapping database Ceglia had hired Zuckerberg to work on, he said.

"The noose is tightening around the neck of this plaintiff, and he knows it," Snyder said during a four-hour procedural hearing that had each side accusing the other of dirty tricks.

Snyder said Ceglia had artificially aged his "phony" contract with light and chemicals, backdated computer files and transferred others to portable storage devices, which he'd likely tossed into Lake Erie.

Ceglia's attorney, Jeffrey Lake, countered that Facebook had tried to "poison the jury pool" by releasing what should have been confidential documents and implied Facebook had planted damning evidence on Ceglia's computers, a statement he backed away from after the hearing.

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