Law Firm Brower Piven Announces Class Action Lawsuit

Legal Business 2011/10/26 10:39   Bookmark and Share
Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of purchasers of the common stock of Hewlett-Packard Co. during the period between November 22, 2010 and August 18, 2011, inclusive (the "Class Period”).

If you have suffered a net loss for all transactions in HP common stock during the Class Period, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at hoffman@browerpiven.com, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 60 years.
No class has yet been certified in the above action.

Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than November 14, 2011 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You are not required to have sold your shares to seek damages or to serve as a Lead Plaintiff.

The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the Company’s failure to disclose during the Class Period, contrary to its disclosure that webOS was going to play an integral role in the Company’s strategy going forward, including running on HP’s new TouchPad tablet PC as well as on all of the Company’s PCs by 2012, that webOS, the TouchPad and the PC business were not central to HP’s business model and webOS would not be integrated across the Company’s entire product line, that TouchPad hardware was inefficient, limiting the degree of effectiveness of the webOS operating system, and that HP’s business model was not working because the Company was unable to leverage its extensive portfolio and scale of products and services in a strategically beneficial manner.

According to the complaint, after, on August 18, 2011, HP announced disappointing third quarter fiscal 2011 financial results and lowered guidance for fiscal year 2011, and after HP announced several major shifts in its long-term business model, including that it "will discontinue operations for webOS devices, specifically the TouchPad and webOS phones,” the value of HP shares declined significantly.
If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.

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Scott+Scott LLP Announces Securities Class Action Lawsuit

Legal Business 2011/10/24 10:38   Bookmark and Share

Scott+Scott LLP filed a class action complaint against K-V Pharmaceutical Company and certain of the Company's officers in the U.S. District Court for the Eastern District of Missouri. The action for violations of the Securities Exchange Act of 1934 is brought on behalf of those purchasing the common stock of K-V between February 14, 2011 and April 4, 2011, inclusive.

If you purchased the common stock of K-V during the Class Period and wish to serve as a lead plaintiff in the action, you must move the Court no later than 60 days from today. Any member of the investor class may move the Court to serve as lead plaintiff through counsel of its choice, or may choose to do nothing and remain an absent class member. If you wish to discuss this action or have questions concerning this notice or your rights, please contact Scott+Scott

scottlaw@scott-scott.com

http://www.scott-scott.com/cases/new/securities-fraud-litigation-1533-k-v-pharmaceutical-company-kv-a.html
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Federman & Sherwood Announces Class Action Lawsuit

Legal Business 2011/10/22 10:39   Bookmark and Share
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

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Artists sue auction houses over royalties law

Legal Business 2011/10/19 11:32   Bookmark and Share
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.
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Appeals court hears challenge to health care law

Legal Business 2011/09/26 09:43   Bookmark and Share
A conservative-leaning panel of federal appellate judges raised concerns about President Barack Obama's health care overhaul Friday, but suggested the challenge to it may be premature.

The arguments at the U.S. Court of Appeals in Washington over a lawsuit against Obama's signature domestic legislative achievement focused on whether Congress overstepped its authority in requiring people to buy health insurance or pay a penalty on their taxes, beginning in 2014.

But Judge Brett Kavanaugh, a former top aide to President George W. Bush who appointed him to the bench, said that he has a "major concern" that courts might not be able to rule on the law's constitutionality until 2015. That's because a federal law bars most challenges to tax-related legislation before the tax or penalty is paid.

A federal appeals court in Richmond cited that law in throwing out another challenge to the overhaul. Two other appeals courts have reached differing conclusions — one declaring the law unconstitutional and the other upholding it. The Supreme Court is expected to weigh in and could possibly even decide to review the law before the Washington circuit issues an opinion.
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Robbins Geller Rudman & Dowd LLP Files Class Action

Legal Business 2011/09/25 09:42   Bookmark and Share
Robbins Geller Rudman & Dowd LLP announced that a class action has been commenced in the United States District Court for the District of Colorado on behalf of a proposed class of Allos Therapeutics, Inc. shareholders who held Allos common stock during the period beginning July 20, 2011 through and including the closing of the proposed acquisition of Allos by AMAG Pharmaceuticals, Inc.

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiffs’ counsel, Darren Robbins of Robbins Geller at 800/449-4900 or 619/231-1058, or via e-mail at djr@rgrdlaw.com. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.rgrdlaw.com/cases/allostherapeutics. Any member of the putative 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.

The complaint charges Allos and its Board of Directors (the “Board”) with breaches of fiduciary duty and aiding and abetting breaches of fiduciary duty under state law and the Board and AMAG with violations of the Securities Exchange Act of 1934 (“1934 Act”). Allos is a biopharmaceutical company that engages in the development and commercialization of anti-cancer therapeutics.

The action arises from Allos and AMAG’s July 20, 2011 announcement that Allos had entered into a definitive merger agreement (the “Merger Agreement”) under which Allos would be acquired by AMAG in a transaction valued at approximately $260 million (the “Proposed Acquisition”). Under the terms of the Merger Agreement, Allos stockholders will receive a fixed ratio of 0.1282 shares of AMAG common stock for each share of Allos common stock held. The deal values Allos stock at $2.44 a share using AMAG’s prior closing price of $19.07. The complaint alleges that the Proposed Acquisition significantly undervalues Allos, as Allos shares traded as high as $4.21 as recently as January 12, 2011, and after the announcement of the Proposed Acquisition the price of AMAG common stock has fallen to $13.58 per share, giving the deal a real value of just $1.74 per Allos share.

The complaint further alleges that in an attempt to secure shareholder support for the Proposed Acquisition, on August 22, 2011, defendants issued a materially false and misleading Preliminary Joint Proxy/Prospectus on Form S-4 (the “Proxy”). The Proxy, which recommends that Allos shareholders vote in favor of the Proposed Acquisition, omits and/or misrepresents material information about the unfair sales process for the Company, conflicts of interest that corrupted the sales process, the unfair consideration offered in the Proposed Acquisition, and the actual intrinsic value of the Company on a stand-alone basis and as a merger partner for AMAG, in contravention of §§14(a) and 20(a) of the 1934 Act and/or defendants’ fiduciary duty of disclosure under state law.

Plaintiffs seek injunctive relief on behalf of all shareholders of Allos who held Allos common stock during the period beginning July 20, 2011 through and including the closing of the proposed acquisition of Allos by AMAG (the “Class”). The plaintiffs are represented by Robbins Geller, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.

Robbins Geller, a 180-lawyer firm with offices in San Diego, San Francisco, New York, Boca Raton, Washington, D.C., Philadelphia and Atlanta, is active in major litigations pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations. The Robbins Geller Web site (http://www.rgrdlaw.com) has more information about the firm.
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