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Indiana's high court to consider State Fair stage collapse
Stock Market News |
2015/09/24 22:59
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The Indiana Supreme Court is set to consider whether the state is responsible for some of the legal damages faced by a company that supplied stage rigging that collapsed at a state fair event in 2011, killing seven people.
The justices are scheduled to hear oral arguments Wednesday in the state's appeal of a March Court of Appeals ruling involving Mid-America Sound Corp.
That ruling found Indiana might be responsible for some legal damages faced by Mid-America, after high winds toppled the stage rigging onto fans awaiting the start of a concert by country duo Sugarland in August 2011.
Mid-America contends the state is financially responsible by contract for the cost of its defense and any judgments against it.
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Court upholds most counts against ex-financier
Stock Market News |
2014/09/02 16:32
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A U.S. appeals court on Thursday upheld 10 convictions against an Indianapolis financier but overturned two wire fraud counts, saying the government failed to enter into the record key documentary evidence.
Timothy Durham and co-defendants Jim Cochran and Rick Snow were convicted in 2012 of swindling thousands of investors out of $200 million. Durham was convicted on 12 counts and sentenced to 50 years; Cochran was convicted on eight counts and sentenced to 25 years; Snow was convicted on five counts and sentenced to 10 years.
The 7th Circuit Court of Appeals in Chicago rejected most of the appeals but overturned two involving the transfer of $250,000 and $50,000.
The appeals court said the government's failure to enter the documentary evidence "was clearly an oversight, but the mistakes leaves a crucial gap in the evidence in those counts." It said the government used single-page printouts to establish the wire transfers were made in furtherance of the fraudulent scheme. |
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Fed reduced bond buys after seeing big job gains
Stock Market News |
2014/01/09 12:02
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The Federal Reserve agreed last month to modestly reduce its bond purchases because of improvements in the job market that many Fed members felt would be sustained.
Many participants called the job gains "meaningful," according to minutes of the Dec. 18-19 meeting that were released Wednesday.
Still, the minutes showed that some participants worried that investors might misread the move as a step toward raising the Fed's key short-term interest rate.
In response, the Fed said it plans to keep its short-term rate low "well past" the time the unemployment rate dropped below 6.5 percent, as long as inflation stayed low.
Some members wanted to lower that unemployment threshold to 6 percent. But the majority opposed doing so. They favored assessing a range of measures of the job market — not just the unemployment rate — in making any policy changes.
Analysts said the improving job market and better overall economic conditions apparently convinced the Fed that they could take a cautious first step toward trimming the bond purchases. |
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Stocks gain after manufacturing eases Fed concern
Stock Market News |
2013/06/03 14:14
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Investors judged that the latest weak economic reports will make it more likely that the Federal Reserve will continue to stimulate the economy and support a rally on Wall Street.
On Monday, a measure of U.S. manufacturing fell in May to its lowest level since June 2009 as overseas economies slumped and weak business spending reduced new orders to factories.
That helped convince investors that the Fed will hold off from slowing down its $85 billion bond-buying program. Speculation that the central bank was set to ease that stimulus, a major support for this year’s rally in stocks, has caused trading to become volatile in the last two weeks.
The Standard & Poor’s 500 index fell in the morning after the manufacturing report was published at 10 a.m. It moved between gains and losses for much of the day, then climbed decisively in the last hour of trading.
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The Rosen Law Firm Announces Securities Class Action
Stock Market News |
2012/10/13 09:44
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The Rosen Law Firm, P.A. today announced that a class action lawsuit has been filed on behalf of all persons or entities who purchased OCZ (OCZ) common stock or call options, or sold OCZ put options, between July 10, 2012 and October 10, 2012, inclusive (the "Class Period").
To join the OCZ class action, visit the firm's website at http://rosenlegal.com, or call Phillip Kim, Esq., toll-free, at 866-767-3653; you may also email pkim@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
The Complaint asserts violations of the federal securities laws against OCZ and certain if its officers and directors for issuing misleading financial information. Namely, the lawsuit asserts that OCZ: (a) was providing extraordinary customer incentives in excess of what was normal and customary in the past; and (b) improperly accounting for customer incentive programs. As a result, OCZ's financial results were misstated during the Class Period and the OCZ lacked adequate internal controls. The Complaint alleges that when this adverse information entered the market investors lost nearly half the value of their investment.
If you wish to serve as lead plaintiff, you must move the Court no later than December 10, 2012. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at pkim@rosenlegal.com.
www.rosenlegal.com.
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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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