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Robbins Umeda LLP Announces Investigation of XenoPort, Inc.
Legal Focuses | 2010/07/29 09:12

Robbins Umeda LLP has commenced an investigation into possible breaches of fiduciary duty and other violations of the law by certain officers and directors at XenoPort, Inc. XenoPort is a biopharmaceutical company that focuses on developing internally discovered product candidates that utilize the body's natural nutrient transport mechanisms to enhance the therapeutic benefits of drugs. The Company was founded in 1999 and is based in Santa Clara, California.

Robbins Umeda LLP's investigation concerns whether the Company's directors and officers caused the Company to make materially false and misleading representations regarding XenoPort's Phase 3 clinical program for an extended-release tablet and development stage drug called Horizant, also known as XP13512 ("512"). Specifically, Robbins Umeda LLP is investigating whether the Company's fiduciaries caused XenoPort to mislead investors about 512, a potential treatment for moderate-to-severe primary Restless Legs Syndrome, including misleading the public about 512's safety.

On February 17, 2010, the Company publicly disclosed that the U.S. Food and Drug Administration had declined to approve 512, with concerns about laboratory results showing pancreatic cell tumors in rats as a result of the use of the drug. Upon this news, XenoPort's stock fell $12.93 per share to close at $6.67 per share on February 18, 2010 -- a one-day decline of 66%.

If you are a shareholder of XenoPort, plan to continue to hold your shares, and would like more information about your rights as a shareholder, please contact attorney Gregory E. Del Gaizo at 800-350-6003 or by e-mail at info@robbinsumeda.com.



Goldfarb Branham LLP Investigating AmeriCredit
Legal Focuses | 2010/07/27 09:15

Goldfarb Branham LLP is still pursuing potential shareholder claims against the Board of Directors of Texas-based AmeriCredit due to an allegedly unfair buyout by General Motors for $24.40 per share. The Dallas-Fort Worth firm plans to file a stockholder class action lawsuit against the Board of Directors that seeks to make the deal fair for AmeriCredit shareholders. Any AmeriCredit stockholders interested in joining the lawsuit as a plaintiff are encouraged to contact shareholder lawyer Hamilton Lindley at 877-583-2855 or hlindley@goldfarbbranham.com.

"Because at least one analyst has a target price for AmeriCredit of $26.00 per share, and the stock has traded as high as $26.49 per share within the last year, this deal appears unfair for ACF shareholders," said Hamilton Lindley, a shareholder lawyer at Goldfarb Branham. "It is estimated that GM will increase its sales by 10-20 percent with this takeover, but AmeriCredit shareholders will be completely cashed out for a mere $24.40 per share."

Goldfarb Branham LLP firm has significant experience in Texas merger cases and provides nimble, creative, and effective counsel at all stages of litigation. If you own AmeriCredit stock or have information and wish to discuss this matter, contact attorney Hamilton Lindley at 877-583-2855 or hlindley@goldfarbbranham.com. All litigation related expenses are paid for by the firm. The firm only gets paid when it is successful in obtaining a benefit for the shareholders.



Bull & Lifshitz, LLP Announces Investigation
Legal Focuses | 2010/07/27 09:15

Bull & Lifshitz, LLP announces an investigation into possible breaches of fiduciary duty in connection with the proposed acquisition of ATC Technology Corporation by GENCO Distribution System, Inc. in a cash transaction valued at approximately $512.6 million.

Under the terms of the transaction, approved by the board of directors of both companies, each outstanding share of ATC will be converted into the right to receive $25.00 per share in cash. Completion of the merger is subject to, among other things, approval by holders of a majority of ATC's outstanding common stock.

Bull & Lifshitz, LLP's investigation is focused on whether the Board of Directors breached their fiduciary duties to ATC stockholders and whether the proposed deal provides adequate value to the Company's shareholders.

If you are a holder of ATC stock and want to discuss your legal rights, you may e-mail or call Bull & Lifshitz, LLP who will, without obligation or cost to you, attempt to answer your questions.

If you are a shareholder of ATC and would like more information about our investigation, please contact Joshua M. Lifshitz, Esq. by telephone at (866) 313-6222 or by sending an e-mail including your contact information to: counsel@nyclasslaw.com. All e-mail correspondence should make reference to ATC.

Bull & Lifshitz, LLP is a New York City-based law firm with significant experience representing investors in merger-related shareholder class actions, shareholder derivative actions, and securities fraud class actions. For more information about the firm, please visit our website at www.nyclasslaw.com.



Immigration to rich countries fell during crisis
Legal Focuses | 2010/07/10 10:05

Immigration to rich countries dropped during the global economic crisis, reversing five years of annual increases as the demand for labor fell, the Organization for Economic Cooperation and Development said Monday.

A report showed that 4.4 million people migrated to the OECD's 31 member countries — the world's most developed economies — in 2008. That is a drop of about 6 percent from the year before.

The fall reverses five years of annual increases of 11 percent, the OECD said in its International Migration Outlook 2010.

National data suggest that international migration fell again in 2009.

Unemployment among male immigrants has risen more than among native counterparts because many immigrants worked in industries badly hit by the crisis, such as construction, hotels and restaurants, the OECD said. Still, few are returning home, it said.

In some countries, employment of female immigrants has risen as women take jobs to make up for lost income of their unemployed spouses, it said.



Gibson’s Lawyer Slams Grigorieva’s Claims
Legal Focuses | 2010/06/28 04:59

Mel Gibson’s lawyer slammed Oksana Grigorieva’s claims that she had been treated cruelly by Mel and that he hadn’t been paying child support.  His lawyer actually termed her claims as “sensational allegations” because they were meant to simply tarnish his name in the media.

Right now, the ex-couple is battling over visitation rights.  Oksana received a restraining order last week causing Gibson’s lawyers to ask for a modification so the star can visit his daughter and spend time with her.

Kolodny, Gibson’s lawyer, told TMZ, “Oksana’s deceitful conduct in trying to terminate Mel’s access to his daughter continues.”

Last week, Oksana filed a restraining order against Gibson, and began spreading the rumor that he was not paying any child support.  The actor already has a tarnished image in the media due to past mistakes he made such as the anti-Semitic remarks.  It will be interesting to see how this whole debacle resolves between this Hollywood couple.



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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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