CARRIER iQ, Inc. Sued in Class Action

Press Release 2011/12/05 10:20   Bookmark and Share
New York City based Horwitz, Horwitz & Paradis, Attorneys at Law and Los Angeles based Kiesel Boucher & Larson LLP announced this morning that they have filed a nationwide class action lawsuit against Mountain View, California based CARRIER iQ, Inc. on behalf of a class comprised of all persons and entities who own an electronic device, including but not limited to, smartphones, feature phones, tablets, and electronic-readers (collectively, the "Electronic Devices"), in which CiQ's Mobile Intelligence software application is installed.

The class action complaint, which was filed in the United States District Court for the Northern District of California, alleges that CiQ manufactures a software application that, unbeknownst to Class members, was embedded into a wide variety of Electronic Devices, including but not limited to, smartphones, feature phones, tablets, and electronic-readers, purchased by Class members over the past six years. Plaintiff further alleges that CiQ utilized its software application to illegally intercept, collect, and share the data and communications sent or received by Class members over their Electronic Devices in which CiQ's software application has been secretly installed for approximately six years.

More specifically, Plaintiff alleges that CiQ's software application enabled CiQ to illegally intercept and monitor all communications that are sent to, and received by, an Electronic Device in which CiQ's software is installed. CiQ's software does so by: (i) intercepting and recording all keystrokes depressed on the Electronic Devices; (ii) intercepting, reading and displaying the actual text of all text messages sent from, or received by, the Electronic Devices; and (iii) intercepting, reading and displaying all Internet browser searches conducted on private Wi-Fi networks

In commenting on the allegations of the Class Action Complaint, Plaintiff's attorney Paul O. Paradis remarked, "The vast nature of CiQ's illegal interception activities and the fact that the Company's illegal activities were able to be conducted without detection for nearly 6 years is frightening. In the digital age in which we live, the revelation of CiQ's illegal electronic interception activities is a watershed moment for privacy advocates around the world and serves as an alarming wake up call to all of us who are concerned about protecting the privacy of confidential communications of any type." Attorney Paul Kiesel added, "At this juncture of the litigation, it appears that in excess of 140 million class members were victimized by CiQ's illegal interception activities. That fact, in and of itself, is stunning."

Plaintiff alleges that CiQ's illegal interception and data collection and sharing activities violated both the federal Electronic Communications Privacy Act and California's Invasion of Privacy Act, as well as other laws intended to protect Class member's privacy and property interests. Plaintiff seeks statutory damages, restitution, punitive damages on behalf of himself and all Class members, as well as an injunction enjoining Defendant from continuing the illegal practices complained of in the Complaint.

If you have any information concerning practices complained of in the Class Action Complaint or would like further information regarding this nationwide class action, please contact Paul O. Paradis at 212-986-4500 or e-mail at pparadis@hhplawny.com or Paul Kiesel at 310-854-4444 or email at kiesel@kbla.com.

Horwitz, Horwitz & Paradis, Attorneys at Law, and Kiesel Boucher & Larson, LLP have been retained as two of the law firms to represent the Class. The attorneys at Horwitz, Horwitz & Paradis, Attorneys at Law, and Kiesel Boucher & Larson, LLP have extensive experience in prosecuting class action cases, and have been appointed as Lead Counsel in numerous major class actions by federal and state courts across the United States and have obtained major recoveries on behalf of injured parties.

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Izard Nobel LLP Announces Class Action Lawsuit

Press Release 2011/11/07 12:23   Bookmark and Share
The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Northern District of California on behalf of purchasers of the common stock of OmniVision Technologies, Inc. between August 27, 2010 and October 13, 2011, inclusive.

The Complaint charges that OmniVision and certain of its officers and directors violated federal securities laws by concealing the loss of its exclusive contract with Apple. On August 25, 2011 OmniVision disclosed delays in the production of its new 8-megapixel product line. As a result, OmniVision would not be the exclusive producer of camera components for Apple's new iPhone 4S, released on October 14, 2011. In response to this news, OmniVision stock declined $7.55 per share, over 30%, to close at $17.27 on August 26, 2011. On October 14, 2011, when the iPhone 4S was released, experts examined the phone's camera and determined that Sony, not Omnivision, had supplied a key component. On this confirmation of the reduced role of the Company's components in the iPhone 4S, OmniVision stock fell $1.65 per share, or 9.3%, to close at $15.95 per share.

If you are a member of the class, you may, no later than December 27, 2011, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.

While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, and your rights, visit: www.izardnobel.com/omnivision/, or contact Izard Nobel LLP toll-free: (800)797-5499, or by e-mail: firm@izardnobel.com. For more information about class action cases in general, please visit our website: www.izardnobel.com.
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Lieff, Cabraser, Heimann & Bernstein, LLP Announces Class Action

Press Release 2011/10/17 10:00   Bookmark and Share
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.
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Greenberg Traurig Receives 2 International M&A Advisor Awards

Press Release 2011/10/17 09:59   Bookmark and Share
The international law firm Greenberg Traurig, LLP won two awards in the Major Transaction category for Corporate/Strategic Acquisition of the Year and for Financing Deal of the Year at The M&A Advisor 3rd Annual International M&A Awards. The awards were presented for Greenberg Traurig's role in the business combination of Liberty Acquisition Holdings Corp. and Promotora de Informaciones, a transaction that involved more than 100 firm attorneys. The firm was also a finalist for M&A Deal of the Year and Turnaround Deal of the Year in the Major Transaction category and for Media, Entertainment and Telecom in the Sector Transaction category.

Leading the Liberty deal team at Greenberg Traurig were, from the Fort Lauderdale office, shareholders Donn Beloff, Bruce March and Brian Gavsie, and associate Bernie Grondin; from the Miami office, shareholders Patricia Menendez-Cambó, Chair of the firm’s Global Practice Group, Randy Bullard, and Mark Lopez, and associate Enrique Conde; from the New York office, shareholders Alan Annex and Ken Gerasimovich; from the Tysons Corner office, shareholder Jason Simon; from the Chicago office, shareholder Peter Lieberman; and from the Wilmington office, shareholder Kelly Terribile. The winners were announced at the 3rd Annual International M&A Awards Gala on Tuesday, October 11, 2011, at The Cornell Club in New York City.

Comprised of more than 350 lawyers in more than 30 offices, Greenberg Traurig’s Corporate and Securities/M&A Practice provides advice and services to companies and entrepreneurs throughout the Americas, Europe and Asia. Greenberg Traurig’s practice groups and attorneys have been recognized as No. 1 in their respective geographic regions by The National Law Journal, Chambers & Partners, Corporate Board Member magazine, Latin Lawyer magazine and numerous regional and local professional publications.

Most recently, Greenberg Traurig ranked 5th among all law firms representing investment banks in U.S. mergers and acquisitions transactions, with 12 announced transactions, in the 2011 Six-Month Banker Representations listing published by Corporate Control Alert. Firms were ranked by the total number of deals having a value of $100 million or more during the period from January 1, 2011 to June 30, 2011. According to league table reports published by Bloomberg, mergermarket and Thomson Reuters, during the first half of 2011, Greenberg Traurig had 50 M&A deals announced globally, with a value of approximately $60 billion, up from 30 announced deals valued at approximately $16 billion in the first half of 2010. The firm's advance was propelled by its role in several high-profile transactions. Greenberg Traurig ranked in the top 15 law firms nationally and top 20 law firms globally in eight rankings in the reports, which highlight deal activity at top law firms across a broad array of deal types, regions, and industry sectors.

For additional information, please visit www.gtlaw.com.

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The Law Office of Robbins Umeda LLP Announces Class Action

Press Release 2011/10/11 09:37   Bookmark and Share
Robbins Umeda LLP announces that the firm commenced a class action lawsuit on October 7, 2011, in the U.S. District Court for the Eastern District of Missouri, Eastern Division, on behalf of all persons or entities who purchased the common stock of Stereotaxis, Inc. between February 28, 2011 and August 9, 2011 against certain of the Company's officers and directors for violations of the Securities Exchange Act of 1934. The plaintiff is represented by Robbins Umeda LLP and Carey, Danis & Lowe.

Stereotaxis designs, manufactures, and markets a cardiology instrument control system, called Niobe®, for use in a hospital's interventional surgical suite to enhance the treatment of coronary artery disease and arrhythmias. The Company also markets the Odyssey system as a data management solution for remote viewing and recording of live interventional procedures. The Company's executive offices are located in St. Louis, Missouri.

The complaint alleges that beginning on February 28, 2011, Chief Executive Officer Michael Kaminski, along with certain officers and directors at Stereotaxis, issued a series of positive statements to investors about the business condition and future prospects of the Company that were materially false and misleading, and that caused shares of the Company's stock to trade at artificially high prices.

In particular, the complaint alleges that officials at the Company failed to disclose to investors material adverse facts that: (1) Stereotaxis was unable to leverage its extensive portfolio and scale of products and services in a strategically beneficial manner; (2) market feedback from users of the Company's technology was "mixed"; (3) the Niobe system was far from the "standard of care" and needed "fundamental product improvements"; (4) demand for the Niobe and Odyssey systems was weak, and that the number of units being sold was decreasing; (5) the reported backlog of orders did not fairly represent future revenue the Company expected to recognize; and that (6) the Company overstated its market edge.

On August 8, 2011, the Company announced financial results for the second quarter of 2011 that revealed that the Company was performing well below expectations. Additionally, the press release disclosed to investors that the Company was forced to suspend its full year guidance for 2011, and that Daniel Johnston was resigning as the Chief Financial Officer. On this news shares of Stereotaxis declined by more than 58% of their value, closing on August 9, 2011 at just $1.19 per share.

If you purchased Stereotaxis stock during the Class Period and wish to serve as lead plaintiff, you must move the Court no later than 60 days from October 10, 2011. To discuss your shareholder rights, please contact attorney Gregory E. Del Gaizo at 800-350-6003 or via the shareholder information form.

Robbins Umeda LLP represents individual and institutional shareholders in derivative, direct, and class action lawsuits. The law firm's skilled litigation teams include former federal prosecutors, former defense counsel from top multinational corporate law firms, and career shareholder rights attorneys. Robbins Umeda LLP has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. For more information, please go to http://www.robbinsumeda.com
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Scott Cole & Associates Announces Update for Class Action

Press Release 2011/10/06 04:31   Bookmark and Share
According to Scott Cole, within days of being hit with a class action lawsuit for failing to offer meal and rest breaks to its California workforce, Guitar Center fired the man who pioneered the lawsuit and allowed its workers to parade the named plaintiff’s final paycheck around the workplace. In immediate reaction to these events, the plaintiff’s attorneys at Scott Cole & Associates amended the Complaint today to allege a wrongful termination and invasion of privacy claim.

“If Guitar Center thinks it can send a message to its workers that standing up for their rights will cost them, this new wrongful termination claim sends a stronger message right back,” says Scott Cole, the principal lawyer on the case. “Firing our client was a big mistake.”

The lawsuit is entitled Pellanda v. Guitar Center, Inc.

Oakland-based Scott Cole & Associates, APC is one of California’s premiere class action law firms and is devoted to representing individuals in employment and consumer rights litigation. For more information about our practice and cases, visit www.scalaw.com or call (510) 891-9800.
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