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Glancy Binkow & Goldberg LLP Announces Class Action
Securities Class Action |
2012/02/09 10:05
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Notice is hereby given that Glancy Binkow & Goldberg LLP has filed a class action lawsuit in the United States District Court for the Southern District of New York on behalf of all purchasers of the American Depositary Shares of China Medical Technologies, Inc. between November 26, 2007 and December 12, 2011, inclusive seeking to pursue remedies under the Securities Exchange Act of 1934.
A copy of the Complaint is available from the court or from Glancy Binkow & Goldberg LLP. Please contact us by phone to discuss this action or to obtain a copy of the Complaint at (310) 201-9150 or Toll Free at (888) 773-9224, by email at shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com.
China Medical develops, manufactures and markets immunodiagnostic and molecular diagnostic products. The Complaint alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose material adverse facts about the Company's business, operations and prospects, including: (1) that the Company’s acquisition of Beijing Bio-Ekon Biotechnology Co. Ltd. (“BBE”) was from a third-party seller connected to China Medical’s CEO; (2) that the Company substantially overpaid to acquire BBE; (3) that China Medical’s acquisition of BBE involved the use of fraudulent shell companies; (4) that the Company was suffering substantial operating losses prior to the acquisition; (5) that a majority of the Company’s accounts receivable were in excess of 120 days; (6) that, as a result, China Medical’s financial results were overstated; (7) that the Company lacked adequate internal and financial controls; and (8), as a result of the foregoing, that the Company's statements were materially false and misleading at all relevant times.
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 class actions and substantial expertise in actions involving corporate fraud.
http://www.glancylaw.com |
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Famed Spain judge convicted of misusing authority
Court News |
2012/02/09 10:04
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The Spanish judge celebrated for pursuing international human rights cases was convicted of overstepping his jurisdiction in a domestic corruption probe Thursday and barred from the bench for 11 years, completing a spectacular fall from grace for one of Spain's most prominent people.
A seven-judge panel of the Supreme Court convicted Baltasar Garzon unanimously. He is 56, so the punishment could effectively end his career in Spain.
Garzon acted arbitrarily in ordering jailhouse wiretaps of detainees talking to their lawyers, the court said, adding that his actions "these days are only found in totalitarian regimes."
Ironically, Garzon is best known for indicting a totalitarian ruler, former Chilean dictator Augusto Pinochet, in 1998, and trying to put him on trial in Madrid for crimes against humanity.
Garzon acted under the principle of universal jurisdiction — the idea that some crimes are so heinous they can be prosecuted anywhere. He and colleagues at the National Court went on to champion this doctrine and try to apply it to abuses in such far-flung places as Rwanda and Tibet. Garzon also indicted terror mastermind Osama bin Laden in 2003 over the Sept. 11 attacks in the United States. |
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Labaton Sucharow LLP Secures $10 Million Settlement
Court News |
2012/02/08 09:42
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Labaton Sucharow LLP announced a nationwide class action settlement valued at $10 million with All Market, Inc., the leading manufacturer and seller of coconut water in the United States.
Coconut water is one of the fastest growing beverages sold in the United States. Vita Coco markets its coconut water as “super-hydrating,” “nutrient-packed,” “mega-electrolyte,” and healthy “super-water.” Labaton Sucharow filed a proposed nationwide class action, styled Fishbein et al., v. All Market Inc., No. 11-cv-05580, against the company after an independent study revealed that Vita Coco’s products do not contain the electrolyte levels indicated on the products’ labels. The class action complaint alleges that Vita Coco’s coconut water products are mislabeled and do not hydrate more effectively than less expensive sports drinks.
Kellie Lerner, one of the attorneys in the action, stated: “For the millions of consumers who pay for products that claim to improve their health, this settlement sends a message that companies will be held accountable when they exaggerate or misstate the health benefits of their products.”
Labaton Sucharow LLP, with offices in New York City and Wilmington, Delaware, is one of the country’s premier law firms representing institutional investors in class actions and complex securities litigation, as well as consumers and businesses in class actions seeking to recover damages for anticompetitive or deceptive practices. The Firm has been a champion of investor and consumer rights for close to 50 years, seeking recovery of losses and the adoption of necessary corporate governance reforms to protect investors, businesses and consumers. Labaton Sucharow has been recognized for its excellence by the courts and peers. More information about Labaton Sucharow is available at www.labaton.com.
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Corvallis Criminal Defense Attorneys - Arnold Law Office, LLC
Attorney News |
2012/02/08 09:41
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Prosecutors are always ready because they handle cases just like yours every day. Our strategy to gain advantage over the prosecution is to enter each settlement negotiation ready and prepared to go over each issue in your case. It is important to know the facts and legal issues better than anyone else in the courtroom because that will give you the edge as a defendant. Choosing to hire our firm means you are hiring a team of lawyers, not just one single person. Our lawyers strategically coordinate, gather evidence and work with experts to meet the demands of your case - Corvallis Criminal Defense Attorneys.
At Arnold Law Office, LLC, our Corvallis criminal defense attorneys treat every case as if it is their most important case. We understand how much is at stake for you and we will provide you with the straight-talking legal counsel you need and deserve. Call us at 541-338-9111 |
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Oracle rejects $272M SAP award, wants new trial
Court Watch |
2012/02/07 10:08
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Database software maker Oracle is rejecting a court-ordered award for $272 million from German rival SAP, saying it would rather have another trial over SAP's theft of software and customer-support documents.
A jury awarded Oracle Corp. $1.3 billion in the case in November 2010, but a federal judge cut that amount last September. Oracle said then that it would seek a new trial.
In a Monday court filing, the Redwood City, Calif., company says it rejected the award.
SAP AG has admitted that a now-closed subsidiary, TomorrowNow, pilfered Oracle's intellectual property. Oracle argued that this helped SAP undercut Oracle for similar services. SAP said it didn't make much use of the documents and should have to pay only $40 million.
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Investment Fraud Litigation |
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Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
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The content contained on the web site has been prepared by Securities Law News as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case. | Affordable Law Firm Website Design by Law Promo |
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