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Nixon Peabody taps ex-Choate partner
Press Releases | 2008/03/07 19:31

Boston Law firm Nixon Peabody LLP has hired William Tripp as counsel in the firm's private client practice, the firm said on Friday.

Tripp, who has been a trusts and estates lawyer for more than 35 years, joins Boston-based Nixon Peabody from crosstown law firm Choate Hall & Stewart LLP, where he was a partner.

"Bill brings years of experience to our firm regarding the management and financial oversight of hundreds of millions of dollars in trusts assets," said Jack Fitzgerald, leader of the firm's private clients practice, in a statement.



Glancy Binkow & Goldberg LLP Announcement
Press Releases | 2008/03/07 19:29
Glancy Binkow & Goldberg LLP -- representing shareholders of SunOpta Inc. -- announces 21 days remaining to move to be a lead plaintiff in the shareholder lawsuit. All persons and institutions who purchased or otherwise acquired the common stock of SunOpta Inc. ("SunOpta" or the "Company") (Nasdaq:STKL) between August 8, 2007 and January 25, 2008, inclusive (the "Class Period"), may move the Court not later than March 28, 2008, to serve as lead plaintiff; however, you must meet certain legal requirements.

If you wish to receive a copy of the Complaint, or have any questions concerning your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1801 Avenue of the Stars, Suite 311, Los Angeles, California 90067, by telephone at (310) 201-9150, Toll Free at (888) 773-9224, or e-mail to info@glancylaw.com, or visit our website at www.glancylaw.com.

The Complaint charges SunOpta and certain of the Company's executive officers with violations of federal securities laws. Among other things, Plaintiff claims that Defendants' material omissions and dissemination of materially false and misleading statements concerning the Company's business and financial performance caused SunOpta's stock price to become artificially inflated, inflicting damages on investors. SunOpta primarily operates as a producer and processor of natural and organic foods in the United States and Canada. The Complaint alleges that throughout the Class Period defendants failed to disclose, among other things, that the Company was experiencing problems with its internal controls and inventory.

On January 24, 2008, following the close of trading, defendants shocked investors when they published a press release that revealed, for the first time, that the Company was performing well below expectations and that defendants expected to cause the Company to take a material restatement charge in the near term -- rendering its prior reported financial statements and reports unreliable, false and materially misleading. The Company said it expected to post a profit of 12 cents to 14 cents per share for the year, citing issues within its fruit and BioProcess groups that led to pretax write-downs and provisions of $12 million to $14 million. Among problems the Company cited were inventories within the Company's Fruit Group's berry operations requiring a write-down to net realizable value, whereby "preliminary estimates indicated that an adjustment in the range of $9 to $11 million for this issue and related items is necessary." The Company disclosed a charge of "approximately $3 million pre-tax, related to difficulties in collecting for services and equipment provided to a customer under the terms of an existing equipment supply contract within the SunOpta BioProcess Group."

After SunOpta drastically lowered its fiscal 2007 profit forecast and announced that financial restatements are likely, shares of SunOpta plunged to a low of $6.05 on January 25, 2008.

Plaintiff seeks to recover damages on behalf of Class members and is represented by Glancy Binkow & Goldberg LLP, a law firm with significant experience in prosecuting shareholder lawsuits, and substantial expertise in actions involving corporate fraud.

If you are a member of the Class described above, you may move the Court, not later than March 28, 2008, to serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1801 Avenue of the Stars, Suite 311, Los Angeles, California 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224 or by e-mail to info@glancylaw.com.

More information on this and other class actions can be found on the Class Action Newsline at www.primenewswire.com/ca.



Law Firm Sponsors Contest To Combat Underage Drinking
Press Releases | 2008/03/07 10:02

The McDivitt Law Firm and My PSA Contest are asking high school students to create unique and compelling public service announcements that encourage fellow teens to abstain from the dangers of underage drinking and driving.

Alcohol related crashes are the second leading cause of teen death and children who begin drinking by age 13 have a 38 percent higher risk of developing alcohol dependence later in life.

McDivitt Law Firm hopes that, through this PSA contest, the messages created by teens specifically for their peers might prove to be one method for helping to prevent the tragedy and devastation, which are too often the result when teenagers drink and drive.

The contest is open to high school students in Colorado Springs, Pueblo and surrounding areas. Students are being asked to produce 28 to 29 second video PSA's. The PSA's will be judged on students' abilities to analyze and discuss the topic and produce a quality video. The winner will receive a laptop computer and the school the student attends will receive a monetary donation. The winning PSA will also be aired on TV.



Johnson Bottini, LLP Announces Update on Brocade Options
Press Releases | 2008/03/05 20:56
Johnson Bottini, LLP, Co-Lead Counsel in the shareholder derivative lawsuit involving the manipulation of stock options at Brocade Communications Systems, Inc., announces the following update on the case. Several motions in the case will be heard on March 28, 2008 in Santa Clara, California. Plaintiffs are seeking to amend the complaint to assert declaratory relief claims against Gregory Reyes, the ex-CEO of Brocade, and Stephanie Jensen, the former V.P. of Human Resources. Reyes, who was convicted of securities fraud by a jury in San Francisco on August 7, 2007, was sentenced on January 16, 2008 to 21 months in prison.

Jensen was convicted on December 6, 2007 of conspiracy to commit securities fraud and of falsifying Brocades books and records. She has not yet been sentenced. In the lawsuit, Plaintiff is seeking to recover damages for the benefit of Brocade and against Reyes, Jensen, KPMG LLP and other defendants. Plaintiff believes that the damages Brocade has suffered exceed $200 million. If you are a Brocade shareholder and would like more information about the status of the case, contact Frank A. Bottini, Esq. at 619-230-0063 or frankb@johnsonbottini.com or go to www.johnsonbottini.com.


Johnson & Perkinson Announces Class Action
Press Releases | 2008/03/05 20:13
Johnson & Perkinson hereby announces the commencement of a class action lawsuit naming Superior Offshore International, Inc. ("Superior Offshore" or the "Company") (Nasdaq: DEEP). Individuals, families, trusts or other entities that purchased Superior Offshore common stock between April 20, 2007 and January 9, 2008, inclusive, have the opportunity to participate as Lead Plaintiffs in the currently pending class action litigation against the Company. To do so, you must apply to serve in that capacity by April 28, 2008.

Johnson & Perkinson, a litigation boutique law firm based in South Burlington, Vermont, has extensive experience prosecuting investor class actions and actions involving financial fraud. Attorneys Johnson and Perkinson are both former employees of the Securities and Exchange Commission. Dedicated to maximizing shareholder return, members of Johnson & Perkinson have prosecuted complex class actions alleging securities or consumer fraud/deception on behalf of investors/consumers against numerous public companies since 1985, resulting in the recovery of many hundreds of millions of dollars, and have been singled out for excellence by various courts. The firm is litigating, or has recently resolved litigation, as Lead or Co-Lead Counsel in securities class actions against Xerox, Priceline, Wireless Facilities, i2 and Xchange, and serves on the Executive Committee in the Global Crossing case.

The Complaint charges the Company and certain of its officers and directors with making a series of materially false and misleading statements in the Registration Statement and Prospectus issued in connection with the IPO, in violation of the Securities Act of 1933.

If you wish to discuss this action or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Johnson & Perkinson attorneys James F. Conway, III, Eben F. Duval, or Christopher Allen toll free at 1-888-459-7855; via email at email@jpclasslaw.com; through our website at www.jpclasslaw.com; or by mail at Johnson & Perkinson, 1690 Williston Road, P.O. Box 2305, South Burlington, Vermont 05403. Though Johnson & Perkinson has not filed a Complaint against Superior Offshore at this time, attorneys at Johnson & Perkinson can investigate your potential claims and help you decide if seeking appointment as a Lead Plaintiff is right for you. Your ability to share in any recovery is not affected by your decision to not seek appointment as a Lead Plaintiff.



Enron class-action firm bills for 247,000 hours
Press Releases | 2008/03/05 20:11

A lawyer who helped reap a US$7.2-billion settlement for Enron investors says his firm deserves a record US$700-million in fees, due to the complexity and risky nature of the case.

"This is an extraordinary case and we did an extraordinary job," Patrick Coughlin, a partner with Coughlin Stoia Geller Rudman & Robbins LLP, the lead attorneys in the case, told a hearing in U.S. District Court in Houston.

The firm's founder, William Lerach, retired in August. He pleaded guilty to kickback scheme at his former law firm, but still stands to receive a multi-million-dollar payout from the Enron case.

Coughlin Stoia is seeking about 9.5% of the total settlement amount, which would equal nearly US$700-million.

Mr. Coughlin presented his case in an elaborate multimedia presentation to U.S. District Judge Melinda Harmon, who now must approve the fee award. The presentation included testimonials from former Enron employees and a clip from the Oscar-nominated legal thriller Michael Clayton.

Over the course of the case that lasted six years, Mr. Coughlin said his firm billed 247,000 hours, took 400 depositions and submitted 5,700 filings.

"We didn't leave any avenue unturned," he said.

Still, other attorneys took issue with the size of the award, arguing that more should go to investors.

"Class counsel has not proved the legitimacy of this fee request," Larry Schonbrun, who represents a single investor in the case, told the court.

The settlement was paid by banks including Citigroup Inc. that are accused of helping the energy trader hide financial misdeeds that led to its collapse. The settlement still lacks final approval from Judge Harmon.

Recently, a group of plaintiffs firms sought about US$460-million in fees following settlements in a securities fraud case against Tyco International Ltd.

Close



Schmidt & Clark, LLP Announces Trasylol Website
Press Releases | 2008/03/04 20:39
Schmidt & Clark, LLP, a nationally recognized drug litigation law firm has announced today that it has recently added additional content to its Trasylol recall website.

Trasylol has been marketed by Bayer for 14 years. Bayer marketed it aggressively until it was used in approximately 1/3 of all cardiac bypass surgeries. In the last two years, Trasylol has been linked to kidney or renal failure, heart attacks, strokes and approximately 22,000 deaths.

At the heart of current and pending litigation surrounding Trasylol side effects, is the fact that Bayer was aware of the potential problems over two years ago. A study connecting Trasylol and serious side effects was presented in January 2006, but the drug was not recalled until November 2007. Bayer failed to present their research to the FDA in their September 2006 meeting. The chairman of that FDA advisory panel, Dr. William Hiatt, said that he would have voted for a Trasylol recall back in 2006 if Bayer had not withheld the data from their study.

Michael E. Schmidt, Managing Partner of Schmidt & Clark, LLP has noticed an alarming number of inquiries to the firm related to Trasylol. Mr. Schmidt stated, “Our firm has substantial expertise in the areas drug litigation. As a result, we have received a number of inquiries from heart bypass surgery patients claiming serious or life-threatening side effects including death, kidney or renal failure, heart attacks, and strokes.”

Schmidt & Clark, LLP represents a number of Trasylol recall victims and continues to be contacted by victims of Trasylol on a frequent basis.

If you or a loved one has been the victim of a Trasylol induced side effect, the firm suggests that you visit their Trasylol website. The site includes detailed lawsuit information, news and more.

About Schmidt & Clark, LLP

Schmidt & Clark, LLP focuses on helping individuals and families. The firm has built a reputation for success, and represents their clients in group and individual lawsuits nationwide.

Although Schmidt & Clark, LLP is national in scope, they level the playing field for their clients by providing them with access to a level of professional legal representation previously available only to large corporations, while still providing personal attention to each client.

For more information on Schmidt & Clark, LLP or Trasylol lawsuits, please visit: http://www.schmidtandclark.com/Trasylol/ or call toll free 24 hrs/day (866) 588-0600.


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