February 5th, 2010
(DALLAS) Kendall Law Group fights for better deal for shareholders of Silicon Storage Technology, Inc. (NASDAQ: SSTI). The firm is concerned that proper consideration is not being paid to shareholders in the proposed acquisition by Microchip Technology Incorporated. If you are a shareholder of SSTI and would like additional information, contact Scott Kendall at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On February 3, 2010, SSTI announced that they had entered into an agreement to be acquired by Microchip in a $284 million transaction. According to this agreement, shareholders will receive $2.85 in cash per SSTI share owned, only 6% over the $2.69 closing price before the deal was announced. This news follows the recent termination of a merger agreement with Technology Resources Holdings, Inc. that was entered into on November 13, 2009 and ended on February 2, 2010 with a $4,025,875 termination fee paid by SSTI. Due to the two recent transactions, neither of which providing fair compensation to the shareholders, the firm is concerned that the Board of Directors may have breached their fiduciary duties by not properly shopping the Company before entering into the agreement.
Kendall Law Group, founded by former federal judge Joe Kendall, has been counsel in dozens of merger and acquisition cases nationwide, including some of the largest transactions in the United States. If you are a shareholder of SSTI and would like to give or receive additional information, contact Scott Kendall at 877-744-3728 or by email at skendall@kendalllawgroup.com.
Tags: acquisition, Kendall Law Group, Merger, Microchip Technology Incorporated, NASDAQ:SSTI, Shareholder Lawsuit, Silicon Storage Technology Inc, SST, SSTI
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February 5th, 2010
(DALLAS) Shareholders of Airgas Inc. (NYSE: ARG) are urged to contact Kendall Law Group regarding a potential lawsuit in connection with the attempt to sell Airgas to competitor Air Products Chemicals Inc. The firm is concerned about the consideration and process chosen by the Board of Directors. If you are a shareholder of ARG and would like additional information about your rights in this proposed transaction, contact Scott Kendall at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On February 5, 2010, Air Products announced that it had made a bid to purchase Airgas in a $7 billion transaction, including the assumption of $1.9 billion in debt. According to the agreement, Air Products will pay $60 per ARG share owned, representing a 38% premium over the $43.53 closing price on February 4, 2010. However, ARG shares closed over $50 as recently as late October, 2010.
Kendall Law Group, led by a former federal judge, has substantial experience representing investors in mergers and acquisitions nationwide. If you are a shareholder of ARG and would like to give or receive additional information, contact Scott Kendall at 877-744-3728 or by email at skendall@kendalllawgroup.com.
Tags: Air Products Chemical Inc, Airgas Inc., ARG, Kendall Law Group, Lawsuit, NYSE:ARG, shareholder
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February 3rd, 2010
(DALLAS) Kendall Law Group, led by a former federal judge, today announced that a lawsuit has been filed against State Street Corporation (NYSE: STT) alleging securities violations related to public statements made by the company between October 17, 2006 and October 19, 2009.
The complaint, filed in the District of Massachusetts, alleges that State Street and certain officers violated the federal securities laws for misleading statements made concerning their scheme to substantially mark up foreign currency trades. According to the complaint, the alleged scheme caused clients to overpay for foreign trades and allowed State Street to reap illegal profits. These illegal profits caused the Company’s financial results to be materially inflated. The complaint also alleges that State Street’s financial results were not prepared in accordance with Generally Accepted Accounting Principles due to inadequate internal and financial controls.
Edmund Brown, Jr., California Attorney General, announced on October 20, 2009 that he had filed suit against State Street for “unconscionable fraud” against California’s two largest pension funds. The suit also alleges that State Street was illegally overcharging the pension funds for the costs of executing foreign currency trades since 2001. On this announcement, stock prices dropped nearly 8.5% closing at $47.84 on October 20, 2009.
Any shareholder, who purchased State Street stock during the above time period, may move the Court to serve as a plaintiff in this class action. If you wish to serve as lead plaintiff, you must move the Court for appointment by February 16, 2010. A lead plaintiff is a class member who acts on behalf of other class members in directing the litigation. Your ability to share in any recovery is not, affected by the decision to serve as a lead plaintiff.
Led by a former federal judge and former U.S. Attorney, Kendall Law Group has the credentials to pursue any type of complex securities litigation in the nation. If you wish to learn more about your rights as a shareholder or have information concerning this action, contact attorney Hamilton Lindley at 877-744-3728 or hlindley@kendalllawgroup.com.
Tags: class action, Kendall Law Group, NYSE: STT, Securities Violdations, shareholder, State Street Corporation
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February 2nd, 2010
(DALLAS) Kendall Law Group, founded by a former federal judge, is investigating the proposed acquisition of COMSYS IT Partners, Inc. (NASDAQ: CITP) by Manpower Inc. in a $431 million transaction expected to close mid-March 2010. The investigation concerns whether the consideration to be paid to shareholders in this transaction is unfair and substantially below the fair or inherent value of the company. Also, the investigation will focus on whether the Board of Directors of COMSYS may have breached their fiduciary duties by not adequately shopping the Company before entering into the transaction.
Manpower announced today that they have entered into an agreement to acquire COMSYS, which has already been approved by board of directors for both companies. According to the agreement, shareholders will receive a value of $17.65 per share of COMSYS stock owned, which represents a 33% premium over the $13.23 closing price on February 1 before the agreement was announced. Shareholders will have the option to accept all cash or a fraction of Manpower stock.
If you are a current holder of CITP and would like additional information concerning this proposed transaction, including your rights, contact Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com. Kendall Law Group has substantial experience representing investors in mergers and acquisitions nationwide. Lawyers at the firm include a former United States Attorney, federal judicial law clerk, a former state and federal judge, in addition to experienced securities lawyers.
Tags: acquisition, COMSYS IT Partners Inc., Kendall Law Group, Manpower Inc, shareholder
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February 2nd, 2010
Kendall Law Group, led by a former federal judge, updates shareholders of its investigation for potential securities law violations of Toyota Motor Corporation (NYSE: TM). As a result of the recent recall announcements, Toyota stock plummeted 14 percent, wiping out $21 billion in market value in just one week.
From July 23, 2009 to January 29, 2010, Toyota failed to disclose that there was a major design defect in its acceleration system. Instead, the company blamed the problem on faulty floor mats. It was not until January 26 that Toyota finally revealed that it was immediately halting the sale and production of eight models because of the acceleration system defect. As a result of this announcement, Toyota’s shares plunged $7.01 to close at $79.77. When further European recalls were announced, the stock fell to $77.00 per share.
Former federal Judge Joe Kendall stated “While Toyota has found a solution to repair the recalled vehicles, we are still concerned about the damage to the reputation of Toyota that continues to affect stock prices.” Today, the executive in charge of quality control, Shinichi Sasaki, told reporters in Japan that Toyota expects slow sales in January as a result of the recall and that the scale of the recall “was a cause for worry.” He also stated that Toyota’s main concern was regaining the trust of their customers.
If you have any information about this issue or questions concerning your Toyota stock, you may contact attorney Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com. Kendall Law Group is led by a former federal judge experienced in recovering millions for defrauded shareholders. The firm includes a former United States Attorney, state judge, prosecutors, and securities lawyers who are experienced in complex securities litigation.
Tags: investigation, Kendall Law Group, NYSE: TM, Toyota, Toyota Motor Corporation
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February 2nd, 2010
(DALLAS) Kendall Law Group, founded by a former federal judge, continues its investigation of Koss Corporation (NASDAQ: KOSS) for shareholders who have purchased stock since June 30, 2005. The investigation for possible securities law violations is triggered by recent announcements made by Koss concerning its internal investigation for unauthorized financial transactions.
If you purchased Koss common stock during the relevant time period and have suffered a loss, you may have a claim against the company. For information about those claims, contact attorney Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com.
On December 24, 2009, Koss issued a press release announcing that Sujata Sachdeva, Secretary and Vice President of Finance, had been terminated due to the discovery of unauthorized financial transactions. Also, two other members of the company’s accounting staff were placed on unpaid administrative leave. The press release also stated that the 10-K for the fiscal years ended June 30, 2006 through 2009 and the Form 10-Q for the three months ended September 30, 2009 could not be relied on.
On January 4, 2010, the Company reported that the “Audit Committee had expanded the scope of the disclosed internal investigation of unauthorized financial transactions by Sujata Sachdeva, the Company’s former Vice President of Finance and Secretary, to include fiscal years 2005 through the present. This internal investigation caused the company to also state than the 10-K for the fiscal years ended June 30, 2005 should not be relied upon. Koss also reported that “Preliminary estimates indicate that the amount of unauthorized transactions since fiscal year 2005 through the present has exceeded $31 million, but at this point the Company and its advisors cannot assess the potential impact on its financial statements or identify the extent that specific fiscal periods may be affected.”
On January 20, 2010, a grand jury in Milwaukee returned an indictment against Sujata Sachdeva for six counts of wire fraud. Federal agents listed 461 boxes of shoes and 34 fur coats among thousands of items recovered from offices rented by Sachdeva.
Kendall Law Group has substantial experience representing investors in securities lawsuits nationwide. Lawyers at the firm include a former state and federal judge, a former United States Attorney, and experienced securities lawyers.
Tags: investigation, Kendall Law Group, Koss Corporation, NASDAQ: KOSS
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February 2nd, 2010
Kendall Law Group is investigating potential securities law violations for shareholders of Toyota Motor Corporation (NYSE: TM). The stock affected by the potential violations was purchased from August 4, 2009 to January 29, 2010.
During the above time period, Toyota failed to disclose that there was a major design defect in its acceleration system. Instead, the company blamed the defect on faulty floor mats. It was not until January 26 that Toyota finally revealed that it was immediately halting the sale and production of eight models because of the acceleration system defect. As a result of this announcement, Toyota’s shares plunged $7.01 to close at $79.77. When further European recalls were announced, the stock fell to $77.00 per share.
Kendall Law Group is led by a former federal judge experienced in recovering millions for defrauded shareholders. The firm includes a former United States Attorney, prosecutors, federal judicial law clerks, and securities lawyers who are experienced in complex securities litigation. If you have any information about this issue or questions concerning your Toyota stock purchased between August 4, 2009 and January 29, 2010, you may contact attorney Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com.
Tags: investigation, Kendall Law Group, NYSE: TM, shareholder, Toyota, Toyota Motor Corporation
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January 26th, 2010
(DALLAS) Kendall Law Group, led by a former federal judge, announces that a lawsuit has been filed against Motorola, Inc. (NYSE: MOT) alleging securities violations related to public statements made by the company between December 6, 2007 and January 22, 2008 concerning the RAZR2 mobile handheld.
Any shareholder who purchased Motorola stock during the above time period may move the Court to serve as a plaintiff in this class action. If you wish to serve as lead plaintiff, you must move the Court for appointment by March 22, 2010. A lead plaintiff is a class member who acts on behalf of other class members in directing the litigation. Your ability to share in any recovery is not, affected by the decision to serve as a lead plaintiff.
The complaint, filed in the Northern District of Illinois, charges Motorola and certain of its officers and directors with violations of the federal securities laws for intentionally and knowingly misstating the 2007 fourth quarter earnings projections and sales demands for the RAZR2 during the 2007 holiday shopping season. The RAZR2 was not attracting buyers in 2007 because it had not improved enough from the RAZR to earn the $299 price tag. Numerous positive statements were made by Defendants while Motorola was losing significant market share to competitors.
Motorola issued a press release on January 22, 2008 reporting their fourth quarter 2007 financial results. They also held an earnings conference later that day where the senior executives admitted that they knew the demand for the RAZR2 was lacking as early as Thanksgiving 2007. Motorola also downgraded their first quarter 2008 earnings guidance. On this news, Motorola common stock fell almost 19% to close at $10.01 per share on January 23, 2008.
If you wish to learn more about your rights as a shareholder or have information concerning this action, contact attorney Hamilton Lindley at 877-744-3728 or hlindley@kendalllawgroup.com. Kendall Law Group has the credentials to pursue any type of complex securities litigation in the nation.
Tags: class action, Kendall Law Group, Motorolla Inc, NYSE: MOT, shareholder
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January 22nd, 2010
(DALLAS) Kendall Law Group, founded by a former federal judge, is investigating the proposed acquisition of Lodgian, Inc. (NYSE: LGN) by an affiliate of Lone Star Real Estate Fund, L.P. The firm’s investigation concerns whether the consideration to be paid to shareholders in this transaction is unfair and substantially below the fair or inherent value of the company. Also, the investigation will focus on whether the Board of Directors of LGN may have breached their fiduciary duties by not adequately shopping the Company before entering into the transaction.
On January 22, 2010, the companies announced that they had entered into a merger agreement for Lone Star to acquire Lodgian in a $270 million transaction expected to close during the second quarter of 2010. According to the agreement, Lodgian shareholders will receive $2.50 cash per share, which represents a 40% premium over the closing price on January 21, 2010 before the deal was announced. The 52 week high for Lodgian was $3.20, closing at $2.00 as recently as November 2009
If you are a current holder of LGN and would like additional information concerning this proposed transaction, including your rights, contact Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com. Kendall Law Group has substantial experience representing investors in mergers and acquisitions nationwide. Lawyers at the firm include a former United States Attorney, federal judicial law clerk, a former state and federal judge, in addition to experienced securities lawyers.
Tags: acquisition, investigation, Kendall Law Group, Lodgian Inc, Lone Star Real Estate Fund L.P., NYSE: LGN, shareholder
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January 22nd, 2010
(DALLAS) Kendall Law Group, led by a former federal judge, today announced that a lawsuit has been filed against Motorola, Inc. (NYSE: MOT) alleging securities violations related to public statements made by the company between December 6, 2007 and January 22, 2008 concerning the RAZR2 mobile handheld.
Any shareholder, who purchased Motorola stock during the above time period, may move the Court to serve as a plaintiff in this class action. If you wish to serve as lead plaintiff, you must move the Court for appointment by March 22, 2010. A lead plaintiff is a class member who acts on behalf of other class members in directing the litigation. Your ability to share in any recovery is not, affected by the decision to serve as a lead plaintiff.
The complaint, filed in the Northern District of Illinois, charges Motorola and certain of its officers and directors with violations of the federal securities laws for intentionally and knowingly misstating the 2007 fourth quarter earnings projections and sales demands for the RAZR2 during the 2007 holiday shopping season. Despite that fact that the RAZR2 was not attracting buyers in 2007 because it had not improved enough from the RAZR to earn the $299 price tag, numerous positive statements were made by Defendants. Motorola was losing significant market share to competitors for similar mobile handhelds. The Company reported 900,000 RAZR2s sold between August 2007 and September 31, 2007, on track to sell a total of 1.5 million RAZR2 between October 1, 2007 and December 31, 2007. With this information, the senior executives knew that the Company was not on track to hit the $0.12-$0.14 profits that they had promised on December 6, 2007.
Motorola issued a press release on January 22, 2008 reporting their fourth quarter 2007 financial results. They also held an earnings conference later that day disclosing this information to investors. On the conference call, the senior executives admitted that they knew the demand for the RAZR2 was lacking as early as Thanksgiving 2007. Motorola also downgraded their first quarter 2008 earnings guidance. On this news, Motorola common stock fell almost 19% to close at $10.01 per share on January 23, 2008.
Led by a former federal judge and former U.S. Attorney, Kendall Law Group has the credentials to pursue any type of complex securities litigation in the nation. If you wish to learn more about your rights as a shareholder or have information concerning this action, contact attorney Hamilton Lindley at 877-744-3728 or hlindley@kendalllawgroup.com.
Tags: class action, Kendall Law Group, Motorola Inc, NYSE: MOT, shareholder
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January 21st, 2010
(DALLAS) Kendall Law Group, led by a former federal judge, today announced that a lawsuit has been filed against Stryker Corporation (NYSE: SYK) alleging securities violations related to public statements made by the company between January 25, 2007 and November 13, 2008.
Any shareholder, who purchased Stryker stock during the above time period, may move the Court to serve as a plaintiff in this class action. If you wish to serve as lead plaintiff, you must move the Court for appointment by March 16, 2010. A lead plaintiff is a class member who acts on behalf of other class members in directing the litigation. Your ability to share in any recovery is not, affected by the decision to serve as a lead plaintiff.
The complaint, filed in the Southern District of New York, charges Stryker and certain of its officers and directors with violations of the federal securities laws regarding the Company’s financial condition due to a January 2008 hip product recall. The complaint alleges that defendants failed to comply with federal regulations regarding the manufacture of medical devices, which subjected the company to unnecessary risks of sales disruptions, lower revenues and product liabilities due to recalls. The complaint also alleges that Stryker hid hundreds of millions of dollars of additional compliance costs prior to and during the relevant period, which allowed defendants to falsely report more than 20% earnings growth for 2006 through 2008.
In an investor conference on November 13, 2009, Stryker indicated that it was still losing customers and revenues due to the January 2008 hip product recall. On this news, stock prices dropped 23%, closing at $36.11 on the November 20, 2008.
Led by a former federal judge and former U.S. Attorney, Kendall Law Group has the credentials to pursue any type of complex securities litigation in the nation. If you wish to learn more about your rights as a shareholder or have information concerning this action, contact attorney Hamilton Lindley at 877-744-3728 or hlindley@kendalllawgroup.com.
Tags: class action, Kendall Law Group, NYSE: SYK, shareholder, Stryker Corporation
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January 20th, 2010
(DALLAS) Kendall Law Group, founded by a former federal judge, is investigating the proposed tender offer of Bare Escentuals, Inc. (NASDAQ: BARE) by Japan-based Shiseido Co., Ltd. and Blush Acquisition Corporation.
The investigation focuses on the process employed by the Board of Directors in selling the company and whether they may be unlawfully benefiting from the transaction because key management will remain at the company following the buyout.
On January 14, 2010, Bare Escentuals announced that it has entered into a merger agreement with Shiseido. The $1.7 billion transaction is expected to commence within ten business days and close during the first quarter of 2010. According to the agreement, shareholders will receive $18.20 per share of BARE common stock owned. BARE closed as high as $14.78 in November, 2009.
If you are a current holder of BARE and have additional information regarding the proposed transaction, or would like to discuss your rights as a shareholder, contact Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com. Kendall Law Group has substantial experience representing investors in mergers and acquisitions nationwide. Lawyers at the firm include a former United States Attorney, federal judicial law clerk, a former state and federal judge, in addition to experienced securities lawyers.
Tags: Bare Escentuals Inc, Blush Acquisition Corportation, investigation, Kendall Law Group, NASDAQ: BARE, shareholder, Shiseido Co. Ltd
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January 20th, 2010
(DALLAS) Kendall Law Group, founded by a former federal judge, is investigating the proposed acquisition of Brink’s Home Security Holdings Inc. (NYSE: CFL) by Tyco International Ltd. The firm’s investigation seeks to determine whether the consideration to be paid to shareholders in this transaction is unfair and substantially below the fair or inherent value of the Brink’s. Also, the investigation will focus on whether the Board of Directors may have breached their fiduciary duties by not adequately shopping the Company before entering into the transaction.
On January 18, 2010, the companies announced that they had reached an agreement for Tyco to acquire Brink’s in a $2 billion transaction expected to close in the second half of its fiscal year, which began September 26, 2009. According to the agreement, shareholders will receive $42.50 per Brink’s share owned. Shareholders will have the option to receive all cash, cash and stock or all stock. This represents approximately 35% premium over the $31.42 closing price of Brink’s on the last trading day before the announcement.
If you are a current holder of CFL and would like additional information concerning this proposed transaction, including your rights, contact Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com. Kendall Law Group has substantial experience representing investors in mergers and acquisitions nationwide. Lawyers at the firm include a former United States Attorney, federal judicial law clerk, a former state and federal judge, in addition to experienced securities lawyers.
Tags: acquisition, Brink's Home Security Holdings Inc, investigation, Kendall Law Group, NYSE: CFL, shareholder, Tyco International Ltd
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January 20th, 2010
(DALLAS) Kendall Law Group, founded by a former federal judge, is investigating the proposed acquisition of Allied Defense Group Inc. (AMEX: ADG) by Chemring Group PLC to determine whether the consideration to be paid to shareholders in this transaction is unfair and substantially below the fair or inherent value of Allied. The firm is also investigating whether the Board of Directors may have breached their fiduciary duties by not adequately shopping the Company before entering into the transaction.
On January 19, 2010, Allied announced that they had reached an agreement for Chemring to acquire the Company in a $59 million transaction. According to the agreement, shareholders will receive $7.25 in cash per ADG share owned, which represents a 54% premium over the $4.71 closing price of Allied on the last trading day before the announcement.
If you are a current holder of ADG and would like additional information concerning this proposed transaction, including your rights, contact Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com. Kendall Law Group has substantial experience representing investors in mergers and acquisitions nationwide. Lawyers at the firm include a former United States Attorney, federal judicial law clerk, a former state and federal judge, in addition to experienced securities lawyers.
Tags: Allied Defense Group Inc, AMEX: ADG, Chemring Group PLC, investigation, Kendall Law Group, shareholder
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January 19th, 2010
(DALLAS) Kendall Law Group, led by a former federal judge, today announced that a lawsuit has been filed against Direxion Energy Bear 3X Shares Fund (NYSE: ERY), and exchange-traded fund offered by Direxion Shares ETF Trust. The lawsuit alleges securities violations related to false and misleading statements made by Direxion Shares between November 5, 2008 and April 9, 2009.
Any shareholder, who purchased Direxion Energy Bear stock during the above time period, may move the Court to serve as a plaintiff in this class action. If you wish to serve as lead plaintiff, you must move the Court for appointment by March 15, 2010. A lead plaintiff is a class member who acts on behalf of other class members in directing the litigation. Your ability to share in any recovery is not, affected by the decision to serve as a lead plaintiff.
The object of Direxion Energy Bear is to gain three times the daily performance of what Russell 1000® Energy Index loses, or in the alternative, lose three times what Russell gains. Due to the decline in the U.S. Market, investors anticipated a profit in their investment. However, when Russell declined approximately 11% between November 5, 2008 and April 9, 2009, they saw a 54% decline.
The complaint, filed in the Southern District of New York, alleges that due to the tracking error between the performance of Direxion Energy Bear and Russell, the investment is meaningless. According to the complaint, the fund is a defective product in that it did not do what it was designed, represented or advertised to do. Direxion Shares did not disclose that the investment option was a defective investment play, as it did not track three times the opposite of Russell Energy on a daily basis or for periods longer than one trading day. Had investors been aware of the misleading nature of the statements, they would not have purchased the shares, especially at the inflated prices that were paid.
Led by a former federal judge and former U.S. Attorney, Kendall Law Group has the credentials to pursue any type of complex securities litigation in the nation. If you wish to learn more about your rights as a shareholder or have information concerning this action, contact attorney Hamilton Lindley at 877-744-3728 or hlindley@kendalllawgroup.com.
Tags: class action, Direxion Energy Bear 3X Shares Fund, Kendall Law Group, NYSE: ERY, shareholder
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January 19th, 2010
(DALLAS) Kendall Law Group, led by a former federal judge, today announced that a lawsuit has been filed against Northwest Pipe Company (NASDAQ: NWPX) for securities violations related to public statements made by the company between April 23, 2008 and November 11. 2009.
Any shareholder, who purchased Northwest Pipe stock during the above time period, may move the Court to serve as a plaintiff in this class action. If you wish to serve as lead plaintiff, you must move the Court for appointment by January 19, 2010. A lead plaintiff is a class member who acts on behalf of other class members in directing the litigation. Your ability to share in any recovery is not, affected by the decision to serve as a lead plaintiff.
The complaint, filed in the Western District of Washington, charges Northwest Pipe and certain of its top officials with violations of the federal securities laws. The complaint alleges that the Defendants’ failure to recognize revenues in accordance with Generally Accepted Accounting Principles caused the Company to issue false and misleading statements about the business and financial results. These statements resulted in artificially inflated stock prices throughout the relevant period.
On November 11, 2009, Northwest Pipe announced that it would delay filing of its Quarter Report for the quarter ended September 30, 2009, pending the conclusion of an ongoing internal investigation of certain accounting matters. On this news, stock prices dropped 14.73%, closing at $26.74 on the 12th.
Led by a former federal judge and former U.S. Attorney, Kendall Law Group has the credentials to pursue any type of complex securities litigation in the nation. If you wish to learn more about your rights as a shareholder or have information concerning this action, contact attorney Hamilton Lindley at 877-744-3728 or hlindley@kendalllawgroup.com.
Tags: class action, Kendall Law Group, NASDAQ: NWPX, Northwest Pipe Company, shareholder
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January 19th, 2010
(DALLAS) Kendall Law Group, founded by a former federal judge, today began an investigation on behalf of St. Jude Medical, Inc. (NYSE: STJ) shareholders. The firm’s investigation for possible securities violations concerns a series of potentially false and misleading statements affecting stock purchased between April 22, 2009 and October 6, 2009.
If you are a current holder of STJ common stock purchased during the relevant time period and have suffered a loss, you may have a claim against the company. For information about those claims, contact attorney Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com.
Kendall Law Group has substantial experience representing investors in securities lawsuits nationwide. Lawyers at the firm include a former state and federal judge, a former United States Attorney, and experienced securities lawyers.
Tags: investigation, Kendall Law Group, NYSE: STJ, shareholder, St. Jude, St. Jude Medical Inc
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January 7th, 2010
(DALLAS) Kendall Law Group, founded by a former federal judge, today began a shareholder investigation for Koss Corporation (NASDAQ: KOSS) shareholders who have purchased stock since June 30, 2005. The investigation for possible securities law violations is triggered by recent announcements made by Koss concerning its internal investigation for unauthorized financial transactions.
On December 24, 2009, Koss issued a press release announcing that Sujata Sachdeva, Secretary and Vice President of Finance, had been terminated due to the discovery of unauthorized financial transactions. Also, two other members of the company’s accounting staff were placed on unpaid administrative leave. According to the Company, “previously issued financial statements on Forms 10-K for the fiscal years ended June 30, 2006, 2007, 2008 and 2009 and on Form 10-Q for the three months ended September 30, 2009 should no longer be relied upon because of the discovery of unauthorized financial transactions.”
On January 4, 2010, the Company reported that the “Audit Committee had expanded the scope of the disclosed internal investigation of unauthorized financial transactions by Sujata Sachdeva, the Company’s former Vice President of Finance and Secretary, to include fiscal years 2005 through the present. The Company has now concluded that its previously issued financial statements on Forms 10-K for the fiscal years ended June 30, 2005 through 2009 and on Form 10-Q for the three months ended September 30, 2009 should no longer be relied upon due to the unauthorized financial transactions.”
Koss also reported that “Preliminary estimates indicate that the amount of unauthorized transactions since fiscal year 2005 through the present has exceeded $31 million, but at this point the Company and its advisors cannot assess the potential impact on its financial statements or identify the extent that specific fiscal periods may be affected. Nor can the Company and its advisors yet assess the extent of the possible offsets through insurance, asset recoveries and other mechanisms related to the unauthorized transactions. As promptly as possible, the Company plans to restate its financial statements for applicable periods as further investigation indicates.”
If you purchased Koss common stock during the relevant time period and have suffered a loss, you may have a claim against the company. For information about those claims, contact attorney Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com.
Kendall Law Group has substantial experience representing investors in securities lawsuits nationwide. Lawyers at the firm include a former state and federal judge, a former United States Attorney, and experienced securities lawyers.
Tags: investigation, Kendall Law Group, Koss Corporation, NASDAQ: KOSS
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January 4th, 2010
(DALLAS) Kendall Law Group, founded by a former federal judge, is investigating the proposed acquisition of BioForm Medical, Inc (NYSE: BFRM) (“BioForm”) by Merz Pharma Group (“Merz”), a privately-held company based in Frankfurt, Germany. The investigation concerns whether the consideration to be paid to shareholders in this transaction is unfair and substantially below the fair or inherent value of the company. Also, the investigation will focus on whether the Board of Directors of BFRM may have breached their fiduciary duties by entering into an agreement with deal protection devices that will likely prevent other superior offers. The deal which essentially takes BioForm private, is scheduled to close within the first quarter of 2010.
On January 4, 2010, BioForm announced that it has reached an agreement to sell the Company to Merz in a deal for approximately $253 million based on outstanding shares of BioForm common stock. The transaction contains a restrictions on solicitation of alternative proposals, public disclosures and other matters. It also calls for a 8 million dollar termination fee to be paid by BioForm as well as allowance for a “short form” process pursuant to applicable Delaware law, which would not require the consent of shareholders if other conditions have been met.
If you are a current holder of BioForm and have additional information regarding the proposed transaction, or would like to discuss your rights as a shareholder, contact Scott Kendall at 877-744-3728 or by email at skendall@kendalllawgroup.com. Kendall Law Group has substantial experience representing investors in mergers and acquisitions nationwide. Lawyers at the firm include a former United States Attorney, federal judicial law clerk, a former state and federal judge, in addition to experienced securities lawyers.
Tags: BioForm Medical Inc, investigation, Kendall Law Group, Merz, Merz Pharma Group, NYSE: BFRM, shareholder
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December 29th, 2009
(DALLAS) Kendall Law Group, founded by a former federal judge, today began an investigation on behalf of Rentech, Inc. (AMEX:RTK) shareholders in connection to public statements made between May 9, 2008 and December 14, 2009. The firm’s investigation concerns possible securities violations during this time due to an announcement made by the Company on December 14, 2009.
On December 14, 2009, Rentech announced that the previously reported annual and quarterly results for fiscal year 2008 and for the first three quarters of fiscal year 2009 would need to be restated. The Company reports that the restatements are to correct “a prior incorrect classification of cash deposits required by forward gas purchase contracts as inventory, and reclassifies them as deposits on gas purchase contracts within current assets on the balance sheet.”
If you are a current holder of RTK common stock purchased during the relevant time period and have suffered a loss, you may have a claim against the company. For information about those claims, contact attorney Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com.
Kendall Law Group has substantial experience representing investors in securities lawsuits nationwide. Lawyers at the firm include a former state and federal judge, a former United States Attorney, and experienced securities lawyers.
Tags: AMEX: RTK, investigation, Kendall Law Group, Rentech Inc., shareholder
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December 29th, 2009
(DALLAS) Kendall Law Group, led by a former federal judge, today announced that a lawsuit has been filed against Terex Corporation (NYSE: TEX) for possible securities violations related to public statements made between February 20, 2008 and September 4, 2008.
The complaint, filed in the District of Connecticut, charges Terex and certain of its officers and directors with violations of the federal securities laws concerning statements made regarding the Company’s business, operations and prospects during this period. The complaint alleges that the Company failed to properly and timely account for impaired assets in its “Construction” and “Roadbuilding, Utility Products and Other” segments. Also, the demand for products in Terex’s Construction, Materials Processing and Aerial Work Platforms segments was declining. Based on this, the Board of Directors had no reasonable basis for causing the Company to issue positive statements.
On September 4, 2008, Terex announced that it would be updating its 2008 full year guidance and providing quarterly guidance due to changing market conditions. On this announcement, TEX shares dropped 20%, closing at $38.02 on September 4, 2008.
Any shareholder, who purchased Terex stock during the above time period, may move the Court to serve as a plaintiff in this class action. If you wish to serve as lead plaintiff, you must move the Court for appointment by February 19, 2009. A lead plaintiff is a class member who acts on behalf of other class members in directing the litigation. Your ability to share in any recovery is not, affected by the decision to serve as a lead plaintiff. Any member of the 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.
Led by a former federal judge and former U.S. Attorney, Kendall Law Group has the credentials to pursue any type of complex securities litigation in the nation. If you wish to learn more about your rights as a shareholder, contact attorney Hamilton Lindley at 877-744-3728 or hlindley@kendalllawgroup.com.
Tags: class action, Kendall Law Group, NYSE: TEX, shareholder, Terex Corporation
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December 29th, 2009
(DALLAS) Kendall Law Group, founded by a former federal judge, is investigating the proposed acquisition of AMICAS, Inc. (NASDAQ: AMCS) by Thomas Braco. The investigation concerns whether the consideration to be paid to shareholders in this transaction is unfair and substantially below the fair or inherent value of the company. Also, the investigation will focus on whether the Board of Directors of Amicas may have breached their fiduciary duties by not adequately shopping the Company before entering into the transaction.
On December 28, 2009, Amicas announced that it has reached an agreement to sell the Company to Thomas Bravo, a private equity firm, in a $217 million transaction that is expected to close in the first quarter of 2010. According to the agreement, shareholders will receive $5.35 in cash per AMCS share owned. This represents approximately 21% premium over the $4.42 closing price of Amicas on the last trading day before the announcement.
If you are a current holder of AMCS and would like additional information concerning this proposed transaction, including your rights, contact Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com. Kendall Law Group has substantial experience representing investors in mergers and acquisitions nationwide. Lawyers at the firm include a former United States Attorney, federal judicial law clerk, a former state and federal judge, in addition to experienced securities lawyers.
Tags: Amicas Inc., investigation, Kendall Law Group, NASDAQ: AMCS, shareholder
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December 29th, 2009
(DALLAS) Kendall Law Group, founded by a former federal judge, is investigating the proposed acquisition of Interstate Hotel & Resort, Inc. (NYSE: IHR) by Hotel Acquisition Co., LLC. The investigation concerns whether the consideration to be paid to shareholders in this transaction is unfair and substantially below the fair or inherent value of the company. Also, the investigation will focus on whether the Board of Directors of IHR may have breached their fiduciary duties by entering into an agreement with deal protection devices that will likely prevent other superior offers.
On December 18, 2009, International Hotels Interstate Hotel & Resort announced that it has reached an agreement to sell the Company to Hotel Acquisition Co., LLC, a joint venture between Thayer Lodging Group and Shanghai Jin Jiang. The $307 million transaction contains a no-solicitation provision, $3.0 million termination fee and reimbursement in an amount up to $1.5 or $3.5 million, depending on the circumstances. According to the agreement, shareholders will receive $2.25 in cash per IHR share owned.
If you are a current holder of IHR and would like additional information concerning this proposed transaction, including your rights, contact Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com. Kendall Law Group has substantial experience representing investors in mergers and acquisitions nationwide. Lawyers at the firm include a former United States Attorney, federal judicial law clerk, a former state and federal judge, in addition to experienced securities lawyers.
Tags: Hotel & Resort Inc, Hotel Acquisition Co., investigation, Kendall Law Group, NYSE: IHR, shareholder
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December 29th, 2009
(DALLAS) Kendall Law Group, led by a former federal judge, today announced that a lawsuit has been filed against Bank of America Corporation (NYSE: BAC) for possible securities violations related to public statements made between September 15, 2008 and January 21, 2009.
The complaint, filed in the Southern District of New York, charges Bank of America and certain of its officers and directors with violations of the federal securities laws concerning statements made concealing Bank of America’s agreement that Merrill Lynch employees would receive up to $5.8 billion in bonuses before the merger was consummated. Also, Merrill Lynch had suffered massive losses that were inherited by Bank of America in the merger. The complaint alleges that due to these misleading statements, BAC stock traded at artificially inflated prices during the relevant time period. While the prices were artificially inflated, the Company sold certain debt and equity securities, including 455 million shares of its common stock at $22 per share on October 10, 2008, raising approximately $10 billion capital.
On September 15, 2008, Bank of America announced their merger agreement with Merrill Lynch that was approved by shareholders of both companies on December 5, 2008. On January 16, 2009, Bank of America announced a $1.8 billion loss for the fourth quarter 2008, the first quarterly loss for the Company in 17 years. Bank of America slashed its dividend from $0.32 to a penny a quarter and reported that Merrill Lynch’s preliminary results for the fourth quarter of 2008 indicated a net after-tax loss of $15.3 billion. Bank of America also confirmed that it would be receiving an additional $20 billion in government assistance and that the government would provide guarantees against further Merrill Lynch losses of $118 billion, with Bank of America covering the first $10 billion. Over the next several days, the details of the deal began to emerge.
Any shareholder, who purchased BAC stock during the above time period, may move the Court to serve as a plaintiff in this class action. If you wish to serve as lead plaintiff, you must move the Court for appointment by February 20, 2009. A lead plaintiff is a class member who acts on behalf of other class members in directing the litigation. Your ability to share in any recovery is not, affected by the decision to serve as a lead plaintiff. Any member of the 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.
Led by a former federal judge and former U.S. Attorney, Kendall Law Group has the credentials to pursue any type of complex securities litigation in the nation. If you wish to learn more about your rights as a shareholder, contact attorney Hamilton Lindley at 877-744-3728 or hlindley@kendalllawgroup.com.
Tags: Bank of America Corporation, class action, Kendall Law Group, NYSE: BAC, shareholder
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December 21st, 2009
(DALLAS) Kendall Law Group, led by a former federal judge, announces a shareholder investigation into NightHawk Radiology Holdings, Inc. (NASDAQ: NHWK) for possible securities violations related to public statements made between April 10, 2007 and February 13, 2008.
The investigation is to determine on whether statements made regarding NightHawk’s business, operations and prospects during this period were false and misleading based on the condition of the Company at that time. On February 13, 2008, NightHawk announced its financial results for the fourth quarter and year end of 2007, the period ended December 31, 2007. On this announcement, NHWK shares dropped 11%, closing at $12.54 on February 14, 2008.
NightHawk was experiencing a delay in transitioning The Radlinx Group physician contracts to their compensation structure, which caused them to pay more compensation to those physicians than they had anticipated. Also, the demand for the Company’s services was weakening and the Company was experiencing difficulties in obtaining reimbursement for its services. Based on this, the Board of Directors had no reasonable basis for causing the Company to issue positive statements.
If you wish to learn more about your rights as a NHWK shareholder or have information concerning this action, contact attorney Hamilton Lindley at 877-744-3728 or hlindley@kendalllawgroup.com. Kendall Law Group is led by a former federal judge and former U.S. Attorney and has the credentials to pursue any type of complex securities litigation in the nation. For more information about the firm, visit www.kendalllawgroup.com.
Hamilton Lindley
Kendall Law Group, LLP
(877) 744-3728 Toll Free
(214) 744-3000 Local
(214) 744-3015 Fax
hlindley@kendalllawgroup.com
3232 McKinney, Ste. 700
Dallas, TX 75204
www.kendalllawgroup.com
Tags: investigation, NASDAQ:NHWK, NHWK, NightHawk, NightHawk Radiology, shareholder
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December 21st, 2009
(DALLAS) Kendall Law Group, founded by a former federal judge, is investigating the proposed acquisition of Chattem Inc. (NASDAQ: CHTT) by Sanofi-Aventis in a $1.9 billion transaction. The investigation concerns whether the consideration to be paid to shareholders in this transaction is unfair and substantially below the fair or inherent value of the company. Also, the investigation will focus on whether the Board of Directors of Chattem may have breached their fiduciary duties by not adequately shopping the Company before entering into the transaction.
On December 21, 2009, Sanofi announced that it has reached an agreement to purchase Chattem, Inc. According to the agreement, shareholders will receive $93.50 in cash per CHTT share owned. This represents approximately 34% premium over the closing price of $69.98 of Chattem on the last trading day before the announcement.
If you are a current holder of CHTT and would like additional information concerning this proposed transaction, including your rights, contact Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com. Kendall Law Group has substantial experience representing investors in mergers and acquisitions nationwide. Lawyers at the firm include a former United States Attorney, federal judicial law clerk, a former state and federal judge, in addition to experienced securities lawyers.
Tags: Chattem, Chattem Inc., CHTT, investigation, NASDAQ: CHTT, Sanofi-Aventis, shareholder, transaction
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December 18th, 2009
(DALLAS) Kendall Law Group, founded by a former federal judge, is investigating the proposed acquisition of Cedar Fair LP (NYSE: FUN) by Apollo Global Management in a 2.4 billion transaction. The investigation concerns whether the consideration to be paid to shareholders in this transaction is unfair and substantially below the fair or inherent value of the company. Also, the investigation will focus on whether the Board of Directors of Cedar Fair may have breached their fiduciary duties by not adequately shopping the Company before entering into the transaction.
On December 16, 2009, Cedar Fair announced that it had entered into a definitive merger agreement with Apollo. According to the agreement, shareholders will receive $11.50 in cash per Cedar Fair limited partnership unit owned. The offer purports to be a 27% premium based on the closing price of FUN on the last trading day prior the announcement. Cedar Fair closed as high as $11.94 in August, 2009 and has a target estimate at $15.00 per unit.
If you are a current holder of Cedar Fair and would like additional information concerning this proposed transaction, including your rights, contact Scott Kendall at 877-744-3728 or by email at skendall@kendalllawgroup.com. Kendall Law Group has substantial experience representing investors in mergers and acquisitions nationwide. Lawyers at the firm include a former United States Attorney, federal judicial law clerk, a former state and federal judge, in addition to experienced securities lawyers.
Tags: Apollo Global Management, Cedar Fair LP, investigation, Kendall Law Group, NYSE: FUN, shareholder
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December 17th, 2009
Kendall Law Group, led by a former federal judge, launched a shareholder investigation today into the proposed acquisition of FGX International Holdings Ltd. (NASDAQ: FGXI) by Essilor International in a $465 million deal.
On December 16, 2009, the companies announced their agreement for Essilor to purchase FGX and take on 100 million euros of FGX debt. The agreement includes an $18.3 million termination fee. According to the agreement, shareholders will receive $19.75 per FGXI share owned, which represents approximately 10% premium over the closing price of $17.91 on the last trading day before the announcement.
Kendall Law Group’s investigation concerns whether the consideration to be paid to shareholders is grossly unfair, inadequate, and substantially below the fair or inherent value of the Company and whether the directors and special committee members may have breached their fiduciary duties by not acting in the shareholders’ best interests in connection with the sale process.
For information about your rights as an FGXI shareholder, contact attorney Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com. The firm has significant experience representing investors in mergers and acquisitions.
Tags: FGX Internation Holdings, investigation, Kendall Law Group, NASDAQ: FGXI, shareholder
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December 17th, 2009
(DALLAS) Kendall Law Group, led by a former federal judge and former US Attorney, announces a shareholder investigation against CRM Holdings, Ltd. (NASDAQ: CRMH) for possible securities violations related to public statements made between December 21, 2005 and December 9, 2009.
The investigation is to determine on whether the statements made by the company involving its business, operations and prospects during this period were false and misleading. On December 10, 2009, CRM common stock dropped approximately 42% to close at $0.30 per share on heavy trade volume. If you wish to learn more about your rights as a CRM shareholder or have information concerning this action, contact attorney Hamilton Lindley at 877-744-3728 or hlindley@kendalllawgroup.com.
Kendall Law Group is led by a former federal judge and former U.S. Attorney and has the credentials to pursue any type of complex securities litigation in the nation. For more information about the firm, visit www.kendalllawgroup.com.
Tags: CRM Holdings, investigation, Kendall Law Group, NASDAQ: CRMH, shareholder
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December 14th, 2009
Kendall Law Group, led by a former Federal Judge and former U.S. Attorney, launched a shareholder investigation today into the proposed acquisition of XTO Energy Inc. (NYSE: XTO) by Exxon Mobil Corp.
On December 14, 2009, the companies announced that Exxon was to purchase XTO in a $41 billion all-stock transaction expected to close in the second quarter of 2010. According to the agreement, shareholders will receive 0.71 share of Exxon stock per XTO share owned. This values shares at approximately $51.71 based on the closing price of Exxon stock on December 11, 2009 and represents a 25% premium over the $41.49 closing price of XTO on that day.
Kendall Law Group’s investigation concerns whether the consideration to be paid to shareholders is grossly unfair, inadequate, and substantially below the fair or inherent value of the Company and whether the directors and special committee members may have breached their fiduciary duties by not acting in the shareholders’ best interests in connection with the sale process.
For information about your rights as an XTO shareholder, contact attorney Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com. The firm has significant experience representing investors in mergers and acquisitions.
Tags: Exxon Mobile Corp., investigation, Kendall Law Group, NYSE: XTO, shareholder, XTO Energy Inc.
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