Law Tips And Info » Class Action http://www.lawtipsandinfo.com Mon, 06 Feb 2012 22:25:27 +0000 http://wordpress.org/?v=2.8.4 en hourly 1 Robbins Geller Rudman & Dowd LLP Files Class Action http://www.lawtipsandinfo.com/robbins-geller-rudman-dowd-llp-files-class-action/ http://www.lawtipsandinfo.com/robbins-geller-rudman-dowd-llp-files-class-action/#comments Mon, 30 Jan 2012 18:01:00 +0000 Breaking Legal News http://www.breakinglegalnews.com/8923
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 plaintiff’s counsel, Samuel H. Rudman or David A. Rosenfeld 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/walterenergy/. 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 Walter and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Walter, through its consolidated subsidiaries, mines and exports hard coking coal for the global steel industry.

The complaint alleges that, during the Class Period, defendants issued materially false and misleading statements regarding the Company’s business and prospects. Specifically, defendants misrepresented and/or failed to disclose the following adverse facts: (i) that the Company was experiencing so-called “squeeze” events in Alabama and lower coal transportation rates in Canada that significantly reduced Walter’s coal production; (ii) that the Company’s commitment to ship more than 700,000 tons of coal in the second quarter at first quarter sales prices would result in a material adverse effect on Walter’s average sales prices and operating results during the second quarter; (iii) that Walter was experiencing a significant decline in its margins and profitability; and (iv) that, based on the foregoing, defendants lacked a reasonable basis for their positive statements about the Company and its business prospects during the Class Period.

On August 3, 2011, Walter issued a press release announcing its operating results for its 2011 fiscal second quarter, the period ended June 30, 2011. For the quarter, the Company announced net income of $107.4 million, or $1.71 per diluted common share, significantly less than Wall Street estimates. Then, On September 21, 2011, Walter issued a press release announcing its attempt to “enhance” its historical statistical disclosure and its revisions to its 2011 second half sales expectations. In response to this announcement, the price of Walter common stock declined from $75.00 per share on September 20, 2011 to $66.25 on September 21, 2011, on extremely heavy trading volume.

Plaintiff seeks to recover damages on behalf of all purchasers of Walter common stock during the Class Period (the “Class”). The plaintiff is 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.

http://www.rgrdlaw.com]]> By Breaking Legal News, Breaking Legal News.

Robbins Geller Rudman & Dowd LLP today announced that a class action has been commenced in the United States District Court for the Northern District of Alabama on behalf of purchasers of the common stock of Walter Energy, Inc. between April 20, 2011 and September 21, 2011, inclusive.

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 plaintiff’s counsel, Samuel H. Rudman or David A. Rosenfeld 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/walterenergy/. 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 Walter and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Walter, through its consolidated subsidiaries, mines and exports hard coking coal for the global steel industry.

The complaint alleges that, during the Class Period, defendants issued materially false and misleading statements regarding the Company’s business and prospects. Specifically, defendants misrepresented and/or failed to disclose the following adverse facts: (i) that the Company was experiencing so-called “squeeze” events in Alabama and lower coal transportation rates in Canada that significantly reduced Walter’s coal production; (ii) that the Company’s commitment to ship more than 700,000 tons of coal in the second quarter at first quarter sales prices would result in a material adverse effect on Walter’s average sales prices and operating results during the second quarter; (iii) that Walter was experiencing a significant decline in its margins and profitability; and (iv) that, based on the foregoing, defendants lacked a reasonable basis for their positive statements about the Company and its business prospects during the Class Period.

On August 3, 2011, Walter issued a press release announcing its operating results for its 2011 fiscal second quarter, the period ended June 30, 2011. For the quarter, the Company announced net income of $107.4 million, or $1.71 per diluted common share, significantly less than Wall Street estimates. Then, On September 21, 2011, Walter issued a press release announcing its attempt to “enhance” its historical statistical disclosure and its revisions to its 2011 second half sales expectations. In response to this announcement, the price of Walter common stock declined from $75.00 per share on September 20, 2011 to $66.25 on September 21, 2011, on extremely heavy trading volume.

Plaintiff seeks to recover damages on behalf of all purchasers of Walter common stock during the Class Period (the “Class”). The plaintiff is 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.

http://www.rgrdlaw.com

Originally posted at Breaking Legal News. Please visit http://www.breakinglegalnews.com/.

]]> http://www.lawtipsandinfo.com/robbins-geller-rudman-dowd-llp-files-class-action/feed/ 0 Holzer Holzer & Fistel, LLC Announces Class Action Lawsuit http://www.lawtipsandinfo.com/holzer-holzer-fistel-llc-announces-class-action-lawsuit/ http://www.lawtipsandinfo.com/holzer-holzer-fistel-llc-announces-class-action-lawsuit/#comments Mon, 30 Jan 2012 17:45:12 +0000 Breaking Legal News http://www.breakinglegalnews.com/8921
The lawsuit alleges, among other things: (i) that Cablevision was experiencing higher retention and advertising costs; (ii) that Cablevision was losing more video customers than expected, especially in the New York area -- the Company's main service area -- due to increased competition; and (iii) as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about the Company and its prospects.

If you purchased Cablevision common stock during the Class Period, you have the legal right to petition the Court to be appointed a "lead plaintiff." A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any such request must satisfy certain criteria and be made no later than March 26, 2012.

Any member of the purported 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. If you are a Cablevision investor and would like to discuss a potential lead plaintiff appointment, or your rights and interests with respect to the lawsuit, you may contact Michael I. Fistel, Jr., Esq., or Marshall P. Dees, Esq. via email at mfistel@holzerlaw.com, or mdees@holzerlaw.com, or via toll-free telephone at (888) 508-6832.

]]> By Breaking Legal News, Breaking Legal News.

Holzer Holzer & Fistel, LLC announces that it has filed a class action lawsuit in the United States District Court for the Eastern District of New York on behalf of purchasers of Cablevision Systems Inc. common stock who purchased shares between February 16, 2011 and October 28, 2011, inclusive.

The lawsuit alleges, among other things: (i) that Cablevision was experiencing higher retention and advertising costs; (ii) that Cablevision was losing more video customers than expected, especially in the New York area -- the Company's main service area -- due to increased competition; and (iii) as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about the Company and its prospects.

If you purchased Cablevision common stock during the Class Period, you have the legal right to petition the Court to be appointed a "lead plaintiff." A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any such request must satisfy certain criteria and be made no later than March 26, 2012.

Any member of the purported 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. If you are a Cablevision investor and would like to discuss a potential lead plaintiff appointment, or your rights and interests with respect to the lawsuit, you may contact Michael I. Fistel, Jr., Esq., or Marshall P. Dees, Esq. via email at mfistel@holzerlaw.com, or mdees@holzerlaw.com, or via toll-free telephone at (888) 508-6832.

Originally posted at Breaking Legal News. Please visit http://www.breakinglegalnews.com/.

]]> http://www.lawtipsandinfo.com/holzer-holzer-fistel-llc-announces-class-action-lawsuit/feed/ 0 Robbins Geller Rudman & Dowd LLP Files Class Action Suit http://www.lawtipsandinfo.com/robbins-geller-rudman-dowd-llp-files-class-action-suit/ http://www.lawtipsandinfo.com/robbins-geller-rudman-dowd-llp-files-class-action-suit/#comments Thu, 26 Jan 2012 12:53:00 +0000 Breaking Legal News http://www.breakinglegalnews.com/8911
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 plaintiff’s 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/collectivebrands/. 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 Collective Brands and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Collective Brands is the holding company for three lines of business: Payless ShoeSource (“Payless”), Collective Brands Performance + Lifestyle Group (“PLG”), and Collective Licensing. The Company was formerly known as Payless ShoeSource, Inc. and changed its name to Collective Brands in August 2007.

The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company’s business and financial results. As a result of defendants’ false statements, Collective Brands stock traded at artificially inflated prices during the Class Period, reaching a high of $23.44 per share on February 18, 2011.

On May 24, 2011, after the market closed, the Company announced its financial results for its first fiscal quarter ended April 30, 2011. The Company reported earnings of $26.4 million or $0.42 diluted earnings per share for the first quarter, which was nearly 50% less than the $0.82 diluted earnings per share expected by analysts. The Company further reported that net sales declined 1.1% to $869.0 million, due in substantial part to the Company’s 7.4% comparable store sales decline in its Payless domestic segment, offset by sales growth of 22.5% in PLG. On this news, Collective Brands stock collapsed $3.06 per share to close at $15.31 per share on May 25, 2011, a one-day decline of nearly 17%.

According to the complaint, the true facts, which were known by defendants but concealed from the investing public during the Class Period, were as follows: (a) the Company’s inventory level for Payless remained at excessively high levels and aging inventory for its Payless segment was a concern; (b) sales at the Company’s flagship Payless stores were significantly worse than expected due to deteriorating customer demand; and (c) the Company was forced to mark down Payless’s bloated inventory at significant discounts, which adversely affected the Company’s margins and financial results for its first quarter.

Plaintiff seeks to recover damages on behalf of all purchasers of Collective Brands common stock during the Class Period (the “Class”). The plaintiff is represented by Robbins Geller, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.

http://www.rgrdlaw.com]]> By Breaking Legal News, Breaking Legal News.

Robbins Geller Rudman & Dowd LLP today announced that a class action has been commenced on behalf of an institutional investor in the United States District Court for the District of Kansas on behalf of purchasers of Collective Brands, Inc. common stock during the period between December 1, 2010 and May 24, 2011.

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 plaintiff’s 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/collectivebrands/. 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 Collective Brands and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Collective Brands is the holding company for three lines of business: Payless ShoeSource (“Payless”), Collective Brands Performance + Lifestyle Group (“PLG”), and Collective Licensing. The Company was formerly known as Payless ShoeSource, Inc. and changed its name to Collective Brands in August 2007.

The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company’s business and financial results. As a result of defendants’ false statements, Collective Brands stock traded at artificially inflated prices during the Class Period, reaching a high of $23.44 per share on February 18, 2011.

On May 24, 2011, after the market closed, the Company announced its financial results for its first fiscal quarter ended April 30, 2011. The Company reported earnings of $26.4 million or $0.42 diluted earnings per share for the first quarter, which was nearly 50% less than the $0.82 diluted earnings per share expected by analysts. The Company further reported that net sales declined 1.1% to $869.0 million, due in substantial part to the Company’s 7.4% comparable store sales decline in its Payless domestic segment, offset by sales growth of 22.5% in PLG. On this news, Collective Brands stock collapsed $3.06 per share to close at $15.31 per share on May 25, 2011, a one-day decline of nearly 17%.

According to the complaint, the true facts, which were known by defendants but concealed from the investing public during the Class Period, were as follows: (a) the Company’s inventory level for Payless remained at excessively high levels and aging inventory for its Payless segment was a concern; (b) sales at the Company’s flagship Payless stores were significantly worse than expected due to deteriorating customer demand; and (c) the Company was forced to mark down Payless’s bloated inventory at significant discounts, which adversely affected the Company’s margins and financial results for its first quarter.

Plaintiff seeks to recover damages on behalf of all purchasers of Collective Brands common stock during the Class Period (the “Class”). The plaintiff is represented by Robbins Geller, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.

http://www.rgrdlaw.com

Originally posted at Breaking Legal News. Please visit http://www.breakinglegalnews.com/.

]]> http://www.lawtipsandinfo.com/robbins-geller-rudman-dowd-llp-files-class-action-suit/feed/ 0 Pomerantz Law Firm Has Filed a Class Action http://www.lawtipsandinfo.com/pomerantz-law-firm-has-filed-a-class-action/ http://www.lawtipsandinfo.com/pomerantz-law-firm-has-filed-a-class-action/#comments Wed, 25 Jan 2012 11:18:00 +0000 Breaking Legal News http://www.breakinglegalnews.com/8906
If you are a shareholder who purchased TranS1 securities during the Class Period, you have until March 26, 2012 to ask the Court to appoint you as lead plaintiff for the class. A copy of the complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Rachelle R. Boyle at rrboyle@pomlaw.com or 888.476.6529, toll free, x350. Those who inquire by e-mail are encouraged to include their mailing address and telephone number.

TranS1 designs, develops, and markets medical devices to treat degenerative disc disease affecting the lower lumbar region of the spine. The Complaint alleges that, during the Class Period, TranS1 made false and/or misleading statements or failed to disclose that: (1) the Company was not in compliance with federal healthcare fraud and false claim statutes; (2) the Company engaged in improper reimbursement practices; (3) the Company lacked adequate
]]> By Breaking Legal News, Breaking Legal News.

Pomerantz Haudek Grossman & Gross LLP has filed a class action lawsuit against TranS1 Inc., and certain of its officers. The class action (7:12-cv-00023-F), filed in the United States District Court, Eastern District of North Carolina, is on behalf of a class consisting of all persons or entities who purchased TranS1 securities during the period between February 21, 2008 and October 17, 2011, inclusive (the "Class Period"). This class action is brought under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, 15 U.S.C. Sections 78j(b) and 78t(a); and SEC Rule 10b-5 promulgated thereunder, 17 C.F.R. Section 240.10b-5.

If you are a shareholder who purchased TranS1 securities during the Class Period, you have until March 26, 2012 to ask the Court to appoint you as lead plaintiff for the class. A copy of the complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Rachelle R. Boyle at rrboyle@pomlaw.com or 888.476.6529, toll free, x350. Those who inquire by e-mail are encouraged to include their mailing address and telephone number.

TranS1 designs, develops, and markets medical devices to treat degenerative disc disease affecting the lower lumbar region of the spine. The Complaint alleges that, during the Class Period, TranS1 made false and/or misleading statements or failed to disclose that: (1) the Company was not in compliance with federal healthcare fraud and false claim statutes; (2) the Company engaged in improper reimbursement practices; (3) the Company lacked adequate

Originally posted at Breaking Legal News. Please visit http://www.breakinglegalnews.com/.

]]> http://www.lawtipsandinfo.com/pomerantz-law-firm-has-filed-a-class-action/feed/ 0 Hausfeld LLP Files Class Action Suit http://www.lawtipsandinfo.com/hausfeld-llp-files-class-action-suit/ http://www.lawtipsandinfo.com/hausfeld-llp-files-class-action-suit/#comments Fri, 20 Jan 2012 18:06:14 +0000 Breaking Legal News http://www.breakinglegalnews.com/8896
The complaint alleges that Siemens engaged in a fraudulent scheme to drive down the price of HearUSA common stock in an attempt to acquire HearUSA’s assets for less than their fair market value by, in part, filing false and misleading statements with the SEC. The result of Siemens’ false and misleading statements, according to the complaint, was to drive down the market price of HearUSA common stock from 90¢/share on January 18, 2011 to 35¢/share on July 28, 2011.

According to the complaint, Siemens made a number of false and/or misleading statements in its public filings which caused HearUSA stock to plummet. These public filings stated that Siemens at no point had the intention to acquire HearUSA, despite the fact that it had been in the advanced stages of a negotiated buyout process for HearUSA. The public filings further stated that Siemens, if it wanted to acquire HearUSA, could do so at no consideration to shareholders because of debts owed to Siemens by HearUSA. The complaint alleges that this assertion misrepresented the status and extent of the debt owed to Siemens by HearUSA and Siemens’ ability to acquire HearUSA pursuant to the credit agreement entered into between the two companies. The complaint alleges that, in making these statements, Siemens effectively told the market that HearUSA stock was worthless, and that the market responded accordingly.

If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, William Butterfield of Hausfeld LLP at (202)540-7200 or via email at wbutterfield@hausfeldllp.com.
]]> By Breaking Legal News, Breaking Legal News.

Hausfeld LLP has filed a securities class action lawsuit on behalf of those who sold HearUSA common stock between January 18, 2011 and July 31, 2011, inclusive. The lawsuit, filed January 18, 2012, seeks to pursue remedies against Siemens Hearing Instruments, Inc. (“Siemens”) for violations of Sections 10(b), 9(a)(2) and 18(a) of the Securities Exchange Act of 1934 [15 U.S.C. §§ 78j(b), 78i(a)(2), and 78r(a)] and Rule 10b-5 promulgated thereunder by the Securities and Exchange Commission (“SEC”) [17 C.F.R. § 240.10b-5]. Siemens is engaged, in part, in the manufacture of hearing products, and HearUSA was involved in the distribution of Siemens’ hearing products. The complaint was filed in the United States District Court for the District of New Jersey and is captioned MTB Investment Partners, LP vs. Siemens Hearing Instruments, Inc.

The complaint alleges that Siemens engaged in a fraudulent scheme to drive down the price of HearUSA common stock in an attempt to acquire HearUSA’s assets for less than their fair market value by, in part, filing false and misleading statements with the SEC. The result of Siemens’ false and misleading statements, according to the complaint, was to drive down the market price of HearUSA common stock from 90¢/share on January 18, 2011 to 35¢/share on July 28, 2011.

According to the complaint, Siemens made a number of false and/or misleading statements in its public filings which caused HearUSA stock to plummet. These public filings stated that Siemens at no point had the intention to acquire HearUSA, despite the fact that it had been in the advanced stages of a negotiated buyout process for HearUSA. The public filings further stated that Siemens, if it wanted to acquire HearUSA, could do so at no consideration to shareholders because of debts owed to Siemens by HearUSA. The complaint alleges that this assertion misrepresented the status and extent of the debt owed to Siemens by HearUSA and Siemens’ ability to acquire HearUSA pursuant to the credit agreement entered into between the two companies. The complaint alleges that, in making these statements, Siemens effectively told the market that HearUSA stock was worthless, and that the market responded accordingly.

If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, William Butterfield of Hausfeld LLP at (202)540-7200 or via email at wbutterfield@hausfeldllp.com.

Originally posted at Breaking Legal News. Please visit http://www.breakinglegalnews.com/.

]]> http://www.lawtipsandinfo.com/hausfeld-llp-files-class-action-suit/feed/ 0 Izard Nobel LLP Announces Class Action Lawsuit http://www.lawtipsandinfo.com/izard-nobel-llp-announces-class-action-lawsuit/ http://www.lawtipsandinfo.com/izard-nobel-llp-announces-class-action-lawsuit/#comments Wed, 18 Jan 2012 13:01:00 +0000 Breaking Legal News http://www.breakinglegalnews.com/8890
The Complaint alleges that Chemed and certain of its officers and directors violated federal securities laws. Specifically, defendants failed to disclose the following adverse facts: (i) Chemed billed Medicare for hospice services for ineligible patients and fraudulently shifted the costs of those patients from health maintenance organizations that covered those patients prior to enrollment in hospice to the government; (ii) that a significant portion of the Company's revenues were the result of defendants' scheme to enroll ineligible patients in hospice and fraudulently bill Medicare; (iii) that, in a sealed complaint, a former VITAS manager accused Chemed of wrongfully enrolling ineligible patients in hospice; and (iv) Chemed's financial results were materially overstated.

On November 16, 2011, a Bloomberg article disclosed that a former VITAS manager had accused Chemed of defrauding the government by conspiring with health insurers to enroll Medicare patients who were not dying into hospice. The article also discussed a U.S. Department of Justice investigation into fraudulent conduct by VITAS. On this news, shares of Chemed fell $6.87 to close at $50.65 per share.

If you are a member of the class, you may, no later than March 12, 2012, 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/chemed/, 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.
]]> By Breaking Legal News, Breaking Legal News.

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 Southern District of Ohio on behalf of purchasers of the common stock of Chemed Corporation between February 15, 2010 and November 16, 2011.

The Complaint alleges that Chemed and certain of its officers and directors violated federal securities laws. Specifically, defendants failed to disclose the following adverse facts: (i) Chemed billed Medicare for hospice services for ineligible patients and fraudulently shifted the costs of those patients from health maintenance organizations that covered those patients prior to enrollment in hospice to the government; (ii) that a significant portion of the Company's revenues were the result of defendants' scheme to enroll ineligible patients in hospice and fraudulently bill Medicare; (iii) that, in a sealed complaint, a former VITAS manager accused Chemed of wrongfully enrolling ineligible patients in hospice; and (iv) Chemed's financial results were materially overstated.

On November 16, 2011, a Bloomberg article disclosed that a former VITAS manager had accused Chemed of defrauding the government by conspiring with health insurers to enroll Medicare patients who were not dying into hospice. The article also discussed a U.S. Department of Justice investigation into fraudulent conduct by VITAS. On this news, shares of Chemed fell $6.87 to close at $50.65 per share.

If you are a member of the class, you may, no later than March 12, 2012, 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/chemed/, 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.

Originally posted at Breaking Legal News. Please visit http://www.breakinglegalnews.com/.

]]> http://www.lawtipsandinfo.com/izard-nobel-llp-announces-class-action-lawsuit/feed/ 0 Saxena White P.A. Files a Securities Fraud Class Action http://www.lawtipsandinfo.com/saxena-white-p-a-files-a-securities-fraud-class-action/ http://www.lawtipsandinfo.com/saxena-white-p-a-files-a-securities-fraud-class-action/#comments Mon, 12 Dec 2011 18:10:39 +0000 Breaking Legal News http://www.breakinglegalnews.com/8786
The complaint charges Hospira and certain of its officers and executives with violations of the Exchange Act. Hospira is a global specialty pharmaceutical and medication delivery company.

The complaint alleges that throughout the Class Period, defendants issued materially false and misleading statements regarding the Company's business and financial results. Specifically, defendants failed to disclose that: (i) Hospira suffered from extensive quality control issues throughout the Class Period, which undermined both the viability of and the supposed financial savings that would be generated by Project Fuel, a Company program designed to optimize Hospira's operations and increase shareholder value; (ii) Hospira was unable to remedy problems identified in FDA Warning Letters related to Hospira's infusion pumps, quality control deficiencies, and manufacturing weaknesses; (iii) Hospira's revenue guidance for 2010 and 2011 was misstated and lacked a reasonable basis when made; and (iv) as a result of the foregoing, defendants' statements regarding the Company's financial performance and expected earnings were false and misleading and lacked a reasonable basis when made.

On October 18, 2011, the Company announced disappointing preliminary third quarter financial results and slashed full-year guidance, pointing to a production disruption at its Rocky Mount, North Carolina manufacturing plant, which accounted for approximately 25% of the Company's sales. The Company attributed the production slowdown to the impact of an ongoing FDA investigation.

The result of the Company's negative results was a 21% drop in the price of Hospira common stock, which fell $7.85 per share to close at $29.51 per share on October 18, 2011.

You may obtain a copy of the complaint and join the class action at www.saxenawhite.com. If you purchased the shares of Hospira, Inc. between the period of March 24, 2009, and October 17, 2011, inclusive, you may contact Joe White or Greg Stone at Saxena White P.A. to discuss your rights and interests.

If you purchased Hospira, Inc. shares during the Class Period of March 24, 2009, and October 17, 2011, inclusive, and wish to apply to be the lead plaintiff in this action, a motion on your behalf must be filed with the Court no later than January 20, 2012. You may contact Saxena White P.A. to discuss your rights regarding the appointment of lead plaintiff and your interest in the class action. Please note that you may also retain counsel of your choice and need not take any action at this time to be a class member.

Saxena White P.A., which has offices in Boca Raton, Boston and Montana, specializes in prosecuting securities fraud and complex class actions on behalf of institutions and individuals. Currently serving as lead counsel in numerous securities fraud class actions nationwide, the firm has recovered hundreds of millions of dollars on behalf of injured investors and is active in major litigation pending in federal and state courts throughout the United States.

Contact: www.saxenawhite.com
]]> By Breaking Legal News, Breaking Legal News.

Saxena White P.A. announces that it has filed a class action lawsuit in the United States District Court for the Northern District of Illinois on behalf of investors who purchased Hospira, Inc. common stock on the New York Stock Exchange between March 24, 2009, and October 17, 2011, inclusive.

The complaint charges Hospira and certain of its officers and executives with violations of the Exchange Act. Hospira is a global specialty pharmaceutical and medication delivery company.

The complaint alleges that throughout the Class Period, defendants issued materially false and misleading statements regarding the Company's business and financial results. Specifically, defendants failed to disclose that: (i) Hospira suffered from extensive quality control issues throughout the Class Period, which undermined both the viability of and the supposed financial savings that would be generated by Project Fuel, a Company program designed to optimize Hospira's operations and increase shareholder value; (ii) Hospira was unable to remedy problems identified in FDA Warning Letters related to Hospira's infusion pumps, quality control deficiencies, and manufacturing weaknesses; (iii) Hospira's revenue guidance for 2010 and 2011 was misstated and lacked a reasonable basis when made; and (iv) as a result of the foregoing, defendants' statements regarding the Company's financial performance and expected earnings were false and misleading and lacked a reasonable basis when made.

On October 18, 2011, the Company announced disappointing preliminary third quarter financial results and slashed full-year guidance, pointing to a production disruption at its Rocky Mount, North Carolina manufacturing plant, which accounted for approximately 25% of the Company's sales. The Company attributed the production slowdown to the impact of an ongoing FDA investigation.

The result of the Company's negative results was a 21% drop in the price of Hospira common stock, which fell $7.85 per share to close at $29.51 per share on October 18, 2011.

You may obtain a copy of the complaint and join the class action at www.saxenawhite.com. If you purchased the shares of Hospira, Inc. between the period of March 24, 2009, and October 17, 2011, inclusive, you may contact Joe White or Greg Stone at Saxena White P.A. to discuss your rights and interests.

If you purchased Hospira, Inc. shares during the Class Period of March 24, 2009, and October 17, 2011, inclusive, and wish to apply to be the lead plaintiff in this action, a motion on your behalf must be filed with the Court no later than January 20, 2012. You may contact Saxena White P.A. to discuss your rights regarding the appointment of lead plaintiff and your interest in the class action. Please note that you may also retain counsel of your choice and need not take any action at this time to be a class member.

Saxena White P.A., which has offices in Boca Raton, Boston and Montana, specializes in prosecuting securities fraud and complex class actions on behalf of institutions and individuals. Currently serving as lead counsel in numerous securities fraud class actions nationwide, the firm has recovered hundreds of millions of dollars on behalf of injured investors and is active in major litigation pending in federal and state courts throughout the United States.

Contact: www.saxenawhite.com

Originally posted at Breaking Legal News. Please visit http://www.breakinglegalnews.com/.

]]> http://www.lawtipsandinfo.com/saxena-white-p-a-files-a-securities-fraud-class-action/feed/ 0 Lawsuit claims Citizens wrongly awarded contracts http://www.lawtipsandinfo.com/lawsuit-claims-citizens-wrongly-awarded-contracts/ http://www.lawtipsandinfo.com/lawsuit-claims-citizens-wrongly-awarded-contracts/#comments Mon, 25 Oct 2010 16:32:53 +0000 Breaking Legal News http://www.breakinglegalnews.com/7362 A class-action lawsuit contends that Citizens Property Insurance Corp. improperly awarded dozens of no-bid contracts worth more than $49 million.

The lawsuit filed Thursday in Tallahassee seeks unspecified damages for the 1.2 million Citizens policyholders. The attorney who filed the complaint says the alleged mismanagement costs policyholders in higher rates.

Citizens is supposed to take competitive bids for all contracts above $25,000, except in emergencies or when there is one vendor. The lawsuit says 33 contracts since 2004 have violated those rules.

A Citizens statement said all 33 contracts in question were properly awarded.



]]> By Breaking Legal News, Breaking Legal News.

A class-action lawsuit contends that Citizens Property Insurance Corp. improperly awarded dozens of no-bid contracts worth more than $49 million.

The lawsuit filed Thursday in Tallahassee seeks unspecified damages for the 1.2 million Citizens policyholders. The attorney who filed the complaint says the alleged mismanagement costs policyholders in higher rates.

Citizens is supposed to take competitive bids for all contracts above $25,000, except in emergencies or when there is one vendor. The lawsuit says 33 contracts since 2004 have violated those rules.

A Citizens statement said all 33 contracts in question were properly awarded.



Originally posted at Breaking Legal News. Please visit http://www.breakinglegalnews.com/.

]]> http://www.lawtipsandinfo.com/lawsuit-claims-citizens-wrongly-awarded-contracts/feed/ 0 NVIDIA Class Action Shot Down http://www.lawtipsandinfo.com/nvidia-class-action-shot-down/ http://www.lawtipsandinfo.com/nvidia-class-action-shot-down/#comments Fri, 22 Oct 2010 16:33:00 +0000 Breaking Legal News http://www.breakinglegalnews.com/7356 The U.S. District Court for the Northern District of California has dismissed a class action suit against NVIDIA that accused the company of trying to hide its knowledge of defects in a line of graphics chips, in order to keep the stock price up.

In a strongly-worded opinion, Judge Richard Seeborg said the plaintiffs did not establish that there was any evidence that the company knew that its chips were defective. Further, the opinion notes that some of the evidence presented by witnesses was from people who did not work at the company and were not in a position to know if the chips were defective or not.

Judge Seeborg gave the plaintiffs 30 days to file an amended complaint, or have it dismissed and the plaintiffs barred from re-filing another suit.

The original lawsuit was filed in 2008, by Lisa Miller, and the class action suit eventually included two union pension funds and the retirement fund of the city of Pontiac, Mich. The suit covered those who bought NVIDIA's stock between Nov.2, 2007 and July 2, 2008.


]]> By Breaking Legal News, Breaking Legal News.

The U.S. District Court for the Northern District of California has dismissed a class action suit against NVIDIA that accused the company of trying to hide its knowledge of defects in a line of graphics chips, in order to keep the stock price up.

In a strongly-worded opinion, Judge Richard Seeborg said the plaintiffs did not establish that there was any evidence that the company knew that its chips were defective. Further, the opinion notes that some of the evidence presented by witnesses was from people who did not work at the company and were not in a position to know if the chips were defective or not.

Judge Seeborg gave the plaintiffs 30 days to file an amended complaint, or have it dismissed and the plaintiffs barred from re-filing another suit.

The original lawsuit was filed in 2008, by Lisa Miller, and the class action suit eventually included two union pension funds and the retirement fund of the city of Pontiac, Mich. The suit covered those who bought NVIDIA's stock between Nov.2, 2007 and July 2, 2008.


Originally posted at Breaking Legal News. Please visit http://www.breakinglegalnews.com/.

]]> http://www.lawtipsandinfo.com/nvidia-class-action-shot-down/feed/ 0 Hospital lawyers fire back in class action lawsuit http://www.lawtipsandinfo.com/hospital-lawyers-fire-back-in-class-action-lawsuit/ http://www.lawtipsandinfo.com/hospital-lawyers-fire-back-in-class-action-lawsuit/#comments Mon, 18 Oct 2010 15:10:01 +0000 Breaking Legal News http://www.breakinglegalnews.com/7331 Taking a final shot before meeting in court, lawyers for Greenwich Hospital are rejecting a claim that the hospital violated fair trade policies in their handling of a drug-addicted surgeon.

Earlier this year, the hospital asked a judge to strike the central claims of lawsuit, arguing that the class action lawsuit does not make a "cognizable claim" under the Connecticut Unfair Trade Practices Act. If granted, the lawsuit will be defeated.

"Plaintiff's changing legal theories and lack of candor on the applicable law demonstrate that they are struggling to stay alive in the face of the hospital's well-founded motion to strike," states the recently filed motion.

The original complaint, filed in 2008 in state Superior Court, alleges that the hospital violated state trade laws by ignoring Dr. Ian Rubins' drug problems to maintain the profitability of their specialized breast center. Rubins, a private plastic surgeon who had privileges at the hospital, died of a heroin overdose in 2008, just months after the state medical examining board suspended his license. Rubins had a string of incidents involving substance abuse and had entered rehabilitation programs several times while at the hospital.


]]> By Breaking Legal News, Breaking Legal News.

Taking a final shot before meeting in court, lawyers for Greenwich Hospital are rejecting a claim that the hospital violated fair trade policies in their handling of a drug-addicted surgeon.

Earlier this year, the hospital asked a judge to strike the central claims of lawsuit, arguing that the class action lawsuit does not make a "cognizable claim" under the Connecticut Unfair Trade Practices Act. If granted, the lawsuit will be defeated.

"Plaintiff's changing legal theories and lack of candor on the applicable law demonstrate that they are struggling to stay alive in the face of the hospital's well-founded motion to strike," states the recently filed motion.

The original complaint, filed in 2008 in state Superior Court, alleges that the hospital violated state trade laws by ignoring Dr. Ian Rubins' drug problems to maintain the profitability of their specialized breast center. Rubins, a private plastic surgeon who had privileges at the hospital, died of a heroin overdose in 2008, just months after the state medical examining board suspended his license. Rubins had a string of incidents involving substance abuse and had entered rehabilitation programs several times while at the hospital.


Originally posted at Breaking Legal News. Please visit http://www.breakinglegalnews.com/.

]]> http://www.lawtipsandinfo.com/hospital-lawyers-fire-back-in-class-action-lawsuit/feed/ 0