Posts Tagged ‘shareholder’
Wednesday, August 11th, 2010
Kendall Law Group, a national securities firm led by a former federal judge with attorneys that include a former U.S. Attorney, is investigating The Washington Post Company (NYSE: WPO) for shareholders. The investigation concerns potential breaches of fiduciary duties by the board of directors and other company executives in connection to alleged fraudulent, deceptive, or otherwise questionable marketing practices. Washington Post shareholders should contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On August 4, 2010, the Senate Health, Education, Labor, and Pensions Committee conducted a hearing on for-profit education firms, where Government Accountability Office representative, George Kutz, presented the findings of report GAO-10-948T, “For-Profit Colleges: Undercover Testing Finds Colleges Encouraged Fraud in Deceptive and Questionable Marketing Practices.” The report detailed undercover investigations into 15 for-profit schools that uncovered misconduct by school staff, such as encouraging applicants to falsify their financial aid forms or pressuring applicants to sign enrollment contracts without speaking to financial advisors. Kaplan College in Florida, a Washington Post school, was named by Kutz as one of the schools that provided “deceptive and questionable” information.
Kendall Law Group has the credentials and experience to pursue any type of complex securities litigation. The firm helps shareholders exercise their power to protect their investments when companies break the law. If you are a Washington Post shareholder, you are encouraged to contact the Kendall Law Group to learn more about your rights.
Tags: Kendall Law Group, law firm, Lawsuit, litigation, NYSE: WPO, Securities, share, shareholder, stockholder. stock, The Washington Post Company, WPO
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Monday, August 9th, 2010
Kendall Law Group, a national securities firm led by a former federal judge and former U.S. Attorney, is investigating Penwest Pharmaceuticals Co. (NASDAQ: PPCO) for shareholders in connection with the proposed acquisition by Endo Pharmaceuticals Holdings Inc. The firm’s investigation seeks to determine whether Penwest and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a Penwest shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On August 9, 2010, Penwest and Endo announced that they had entered into a merger agreement, under which Endo will commence an all-cash tender offer to acquire 100 percent of the outstanding Penwest common stock for $5.00 per share. The tender offer is expected to be completed in September, 2010 after which Endo will acquire any Penwest shares that are not purchased in the tender offer in a second-step merger at the same price per share paid in the tender offer. The transaction has been unanimously approved by the boards of directors of Penwest and Jennifer Good, Penwest’s President and Chief Executive Officer, has committed to tender her shares in the tender offer.
Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. Since leaving the bench and returning to trial work, Mr. Kendall has had tremendous success at the prosecution of patent, consumer and securities class action litigation either as lead, co-lead or liaison counsel. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.
Tags: acquisition, deal, Endo Pharmaceuticals, investigation, litigation, Merger, NASDAQ: PPCO, Penwest Pharmaceuticals, PPCO, Securities, share, shareholder, stock, stockholder, unfair
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Monday, August 9th, 2010
Kendall Law Group, led by a former federal judge Joe Kendall with attorneys that include a former U.S. Attorney, is investigating Education Management Corporation (NASDAQ: EDMC) for shareholders. The national securities firm’s investigation concerns potential breaches of fiduciary duties by the board of directors and other company executives in connection to alleged fraudulent, deceptive, or otherwise questionable marketing practices. Education Management shareholders should contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On August 4, 2010, the Senate Health, Education, Labor, and Pensions Committee conducted a hearing on for-profit education firms, where Government Accountability Office representative, George Kutz, presented the findings of report GAO-10-948T, “For-Profit Colleges: Undercover Testing Finds Colleges Encouraged Fraud in Deceptive and Questionable Marketing Practices.” The report detailed undercover investigations into 15 for-profit schools that uncovered misconduct by school staff, such as encouraging applicants to falsify their financial aid forms or pressuring applicants to sign enrollment contracts without speaking to financial advisors. Argosy University in Illinois, an Education Management school, was named by Kutz as one of the schools that provided “deceptive and questionable” information. Education Management’s stock dropped to a five year low shortly following news of the investigation and hearing.
Kendall Law Group has the credentials and experience to pursue any type of complex securities litigation. The firm helps shareholders exercise their power to protect their investments when companies break the law. If you are an Education Management shareholder, you are encouraged to contact the Kendall Law Group to learn more about your rights.
Tags: EDMC, Education Management Corporation, investigation, Kendall Law Group, law firm, Lawsuit, litigation, NASDAQ: EDMC, Securities, share, shareholder, stock, stockholder
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Monday, August 9th, 2010
Kendall Law Group, a national securities firm led by a former federal judge, with attorneys that include a former U.S. Attorney, is investigating Superior Well Services, Inc. (NASDAQ: SWSI) for shareholders in connection with the proposed acquisition by Nabors Industry, Inc. The firm’s investigation seeks to determine whether Superior Well Services and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a Superior shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On August 9, 2010, announced that they have entered into a definitive merger agreement whereby Nabors will acquire Superior Well Services through a tender offer and second-step merger. The initial tender offer is for all outstanding shares of Superior common stock at a price of $22.12 per share in cash at a total value of approximately $900 million. Although Gene Isenberg, Nabors’ Chairman and CEO, stated that “Superior Well Services possesses one of the newest fleets in the industry…high quality fleet is operated by a very capable, well managed organization that can quickly become a substantial unit of Nabors,” the transaction represents only an approximately 17% premium over Superior’s August 6 closing price. Superior also released their second quarter 2010 results, noting increased revenue “from the $123.3 million reported in the previous quarter and a 94.5% increase from the $90.5 million reported in the second quarter of 2009” to $176.0 million in the second quarter of 2010. In addition, according to Thompson/First Call, at least one analyst has set a price target of $25.00 per share for Superior stock.
Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.
Tags: acquisition, deal, investigation, Kendall Law Group, law firm, Lawsuit, litigation, Merger, Nabors Industry Inc., NASDAQ: SWSI, Securities, share, shareholder, stock, stockholder, Superior Well Services Inc., SWSI, unfair
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Thursday, August 5th, 2010
Kendall Law Group, a national securities firm led by a former federal judge and a former U.S. Attorney, is investigating Grand Canyon Education, Inc. (NASDAQ: LOPE) for shareholders. The investigation concerns potential breaches of fiduciary duties by the board of directors and other company executives in connection with alleged violations of the False Claims Act. Concerned Grand Canyon Education shareholders should contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On August 14, 2008, the U. S. Department of Education, Office of Inspector General initiated an investigation and served a subpoena on the company seeking certain records and information related to performance reviews and salary adjustments for all Grand Canyon education enrollment counselors and managers from January 1, 2004 to August 2008.
Subsequently, a qui tam lawsuit was filed against Grand Canyon Education in September 2008 in the United States District Court for the District of Arizona on behalf of the federal government. The suit alleged that the company violated the False Claims Act by knowingly making false statements, submitting false records or statements to get false or fraudulent claims paid or approved, and improperly compensating certain of its enrollment counselors in violation of the law. Grand Canyon Education attempted to settle the case for $5.2 million, but the settlement was rejected by the federal government.
Additionally, on July 6, 2010, the U. S. Department of Education notified Grand Canyon Education that Grand Canyon University’s administration of the Title IV programs in which it participates would be evaluated to measure the school’s compliance with the Title IV requirements and to identify any liabilities to the Department of Education for errors in compliance.
Kendall Law Group was founded by a former federal judge and U.S. Attorney and has the credentials and experience to pursue any type of complex securities litigation in the nation. The firm helps shareholders exercise their power to protect their investments when companies break the law. If you are a Grand Canyon Education shareholder, you are encouraged to contact the Kendall Law Group to learn more about your rights.
Tags: False Claims Act, Grand Canyon Education Inc., investigation, Kendall Law Group, litigation, LOPE, NASDAQ: LOPE, Securities, share, shareholder, stock, stockholder
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Wednesday, August 4th, 2010
Kendall Law Group, a national securities firm led by a former federal judge with attorneys that include a former U.S. Attorney, is investigating ExpressJet Holdings, Inc. (NYSE: XJT) for shareholders in connection with the proposed acquisition by SkyWest, Inc. The firm’s investigation seeks to determine whether ExpressJet and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are an ExpressJet shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On August 4, 2010, SkyWest announced that it had entered into a definitive merger agreement with ExpressJet, whereby Atlantic Southeast, a wholly-owned subsidiary of SkyWest, would acquire all of the outstanding shares of common stock of ExpressJet for $6.75 per share in cash. A new, long-term, capacity purchase agreement between Atlantic Southeast and Continental Airlines is intended to become effective upon consummation of the ExpressJet acquisition. In addition, according to Thompson/First Call, at least two analysts have set a price target of $8.00 per share for ExpressJet stock.
Kendall Law Group was founded by a former federal judge Joe Kendall, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. Since leaving the bench and returning to trial work, Mr. Kendall has had tremendous success at the prosecution of patent, consumer and securities class action litigation either as lead, co-lead or liaison counsel. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.
Tags: acquisition, deal, ExpressJet Holdings, Inc., investigation, Kendall Law Group, law firm, Lawsuit, litigation, Merger, NYSE: XJT, Securities, share, shareholder, stock, stockholder, unfair, XJT
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Friday, July 30th, 2010
Kendall Law Group, a national securities firm led by a former federal judge Joe Kendall and a former U.S. Attorney, is investigating certain officers and directors of Monsanto Co. (NYSE: MON) for possible breaches of fiduciary duty and other federal and state laws. The firm’s investigation seeks to determine whether Monsanto and its directors and officers breached their fiduciary duties by failing to disclose material adverse facts about the company’s true financial condition, business and prospects. Shareholders familiar with the investigation are urged to contact the Kendall Law Group for more information at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On May 27, 2010, Monsanto cut its earnings target for its fiscal year ending in August by 70 cents to between $2.40 and $2.60 a share and also projected profit for the quarter ending May 31 of 75 cents to 80 cents a share, which was well below the $1.32 per share average predicted by analysts. Monsanto shares fell 7.3% the day after the company said it was cutting its earnings outlook for this year. Prior to this adjustment, Monsanto’s directors and officers continued to make positive statements about the company, its earnings, prospects and financial condition. Monsanto’s shares have lost approximately 30% of their market value since the start of the year.
Kendall Law Group has the credentials and experience to pursue any type of complex securities litigation in the nation. Since leaving the bench and returning to trial work, Mr. Kendall has had tremendous success at the prosecution of patent, consumer and securities class action litigation either as lead, co-lead or liaison counsel. The firm represents shareholders when publicly traded companies violate the law. Shareholders are encouraged to contact attorney Scott Kendall for more information.
Tags: investigation, Kendall Law Group, law firm, Lawsuit, litigation, MON, Monsanto Co., NYSE: MON, Securities, share, shareholder, stock, stockholder
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Friday, July 30th, 2010
Kendall Law Group announces that a class action law suit has been filed today in the United States District Court for the Northern District of California on behalf of investors that purchased XenoPort, Inc. (NASDAQ: XNPT) common stock between May 5, 2009 and February 17, 2010. If you wish to learn more about your rights as a shareholder you are encouraged to contact attorney Scott Kendall at 877-744-3728 or skendall@kendalllawgroup.com.
The complaint charges XenoPort and certain of its officers and directors with violations of the Securities Exchange Act of 1934 regarding false and misleading statements made by XenoPort and certain officers and directors in connection with Horizant, a drug treatment for Restless Leg Syndrome. XNPT stock fell 66% to close at $6.67 on February 18, 2010 after it was revealed that the FDA was delaying approval of Horizant for a second time due to findings that the drug had caused pancreatic cancer cells to form in lab rats.
Kendall Law Group has the credentials and experience to pursue any type of complex securities litigation in the nation. The firm led by former federal judge Joe Kendall and former U.S. Attorney, is a national securities firm that represents shareholders when publicly traded companies violate the law. Shareholders who purchased XNPT common stock before or during the relevant period may have a claim against the company and are urged to contact attorney Scott Kendall for more information.
Tags: investigation, Kendall Law Group, law firm, Lawsuit, litigation, NASDAQ: XNPT, Securities, share, shareholder, stock, stockholder, XenoPort Inc, XNPT
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Thursday, July 29th, 2010
Kendall Law Group, a national securities firm led by a former federal judge and a former U.S. Attorney, is investigating General Electric Co. (NYSE: GE) for shareholders. The investigation concerns potential breaches of fiduciary duties by the board of directors and other company executives due to a $23 million settlement by the company with the U.S. Government due to alleged violations of the Foreign Corrupt Practices Act (FCPA). Concerned GE shareholders should contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On July 27, 2010, GE announced that it had agreed to pay $23.5 million to settle Securities and Exchange Commission (SEC) charges that its subsidiaries made payments to foreign officials in Iraq in violation of the FCPA. The SEC complaint, filed in connection with the settlement, claims that agents of the GE subsidiaries paid kickbacks labeled “after sales service fees” to Iraqi agencies to win health care and water contracts. Cheryl Scarboro, chief of the SEC’s FCPA Unit, stated that “GE failed to maintain adequate internal controls to detect and prevent these illicit payments.”
Kendall Law Group was founded by a former federal judge Joe Kendall and has the credentials and experience to pursue any type of complex securities litigation in the nation. The firm helps shareholders exercise their power to protect their investments when companies break the law. If you are a General Electric shareholder, you are encouraged to contact the Kendall Law Group to learn more about your rights.
Tags: FCPA, GE, General Electric Co, investigation, Kendall Law Group, law firm, Lawsuit, NYSE: GE, Securities, share, shareholder, stock, stockholder
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Thursday, July 29th, 2010
Kendall Law Group, a national securities firm led by a former federal judge and a former U.S. Attorney, is investigating Maxwell Technologies, Inc. (NASDAQ: MXWL) for shareholders. The investigation concerns potential breaches of fiduciary duties by certain directors and executives due to possible violations of the Foreign Corrupt Practices Act. Concerned Maxwell shareholders should contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
Maxwell has announced through filings with the U.S. Securities and Exchange Commission that they are engaged in an ongoing investigation into payments made to a former independent sales representative in China. The payments were recorded as commissions, but a portion of these payments were reportedly going either directly or indirectly to purchasers of the company’s high voltage capacitor products. Maxwell has reported that they believe the settlement will range between $9.3 million to $20 million.
Kendall Law Group was founded by a former federal judge and U.S. Attorney and has the credentials and experience to pursue any type of complex securities litigation in the nation. The firm helps shareholders exercise their power to protect their investments when companies break the law. If you are a Maxwell shareholder, you are encouraged to contact the Kendall Law Group to learn more about your rights.
Tags: investigation, Kendall Law Group, law firm, Lawsuit, litigation, Maxwell Technologies, MXWL, NASDAQ: MXWL, Securities, share, shareholder, stock, stockholder
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Monday, July 12th, 2010
Kendall Law Group, a national securities firm led by a former federal judge and a former U.S. Attorney, is investigating Hewitt Associates, Inc. (NYSE: HEW) for shareholders in connection with the proposed merger with Aon Corporation. The firm’s investigation seeks to determine whether Hewitt and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a Hewitt shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On July 12, 2010, the companies announced that they had entered into an agreement for Hewitt to be acquired by Aon in a transaction valued at approximately $4.9 billion. Under the terms of the agreement, Hewitt shareholders will receive $25.61 in cash and 0.6362 shares of Aon common stock for each share of Hewitt common stock held. According to Thompson/First Call, at least one analyst has set a price target of $55 per share. Following the news of the planned acquisition, Moody’s Investors Service lowered the ratings outlook for Aon to “negative” from “stable.”
Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.
Tags: acquisition, Aon Corporation, deal, HEW, Hewitt Associates, investigation, Kendall Law Group, law firm, Lawsuit, litigation, Merger, NYSE: HEW, Securities, share, shareholder, stock, stockholder, unfair
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Monday, July 12th, 2010
Kendall Law Group, a national securities firm led by a former federal judge and a former U.S. Attorney, is investigating Playboy Enterprises, Inc. (NYSE: PLA) for shareholders in connection with the proposed management buyout. The firm’s investigation seeks to determine whether Playboy and its Board breached their fiduciary duties by not seeking a deal that would provide better value for shareholders. If you are a Playboy shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On July 12, 2010, Hugh Hefner announced that he is offering to purchase all outstanding shares that he does not own and that he is planning to take the company private. Hefner is offering $5.50 per share in a deal worth approximately $185 million. Friend Finder Network announced plans to place a competing bid with Friend Finder Chief Executive Marc Bell stating that Hefner’s offer “dramatically” undervalues Playboy. Hefner, who owns approximately 70 percent of Playboy’s Class A common stock and 28 percent of its Class B stock, stated in his proposal letter that he is “not interested in any sale or merger of Playboy Enterprises, selling his shares to a third party or entering into discussions with any other financial sponsor for a similar transaction.”
Kendall Law Group was founded by a former federal judge Joe
Kendall and includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. Since leaving the bench and returning to trial work, Mr. Kendall has had tremendous success at the prosecution of patent, consumer and securities class action litigation either as lead, co-lead or liaison counsel. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.
Tags: acquisition, deal, investigation, Kendall Law Group, law firm, Lawsuit, Merger, NYSE: PLA, PLA, Playboy Enterprises, Securities, share, shareholder, stock, stockholder, unfair
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Monday, July 12th, 2010
Kendall Law Group, a national securities firm led by a former federal judge Joe Kendall, is investigating Micrus Endovascular Corp. (NASDAQ: MEND) for shareholders in connection with the proposed acquisition by Johnson & Johnson. The national securities firm’s investigation seeks to determine whether Micrus and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a Micrus shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On July 12, 2010, the companies announced that they had entered into an agreement for Micrus to be acquired by Johnson & Johnson in a transaction valued at approximately $480 million. The offer price represents a 5.5% premium for Micrus based on Friday’s $22.19 closing share price. On June 8, 2010, Micrus reported annual increases of $12.89 million in total revenue and $22.58 in net income over the prior year. In addition, according to Thompson/First Call, at least one analyst has set a price target of $25 per share.
Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.
Tags: acquisition, deal, Kendall Law Group, law firm, Lawsuit, litigation, MEND, Merger, Micrus Endovascular Corp., NASDAQ: MEND, Securities, share, shareholder, stock, stockholder, unfair
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Friday, July 9th, 2010
Kendall Law Group, a national securities firm led by a former federal judge and a former U.S. Attorney, is investigating Smith & Wesson Holding Corporation (NASDAQ: SWHC) for shareholders. The investigation concerns potential breaches of fiduciary duties by the board of directors and other company executives in connection with US Department of Justice (DOJ) investigations into potential violations of the Foreign Corrupt Practices Act (FCPA). Concerned Smith & Wesson shareholders should contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
In an annual report filed on July 1, 2010, Smith & Wesson disclosed the DOJ investigation. On January 19, 2010, the DOJ unsealed indictments of 22 individuals from the firearm industry that alleged the defendants “conspired to pay bribes for supply contracts” to an undercover FBI agent posing as a representative of an African nation. Smith & Wesson confirmed that one of the defendants was their vice president of sales for their International & U.S. Law Enforcement division. Smith & Wesson acknowledged that the company “could be prevented from bidding on domestic military and government contracts, and could risk debarment by the U.S. Department of State.”
Kendall Law Group has the credentials and experience to pursue any type of complex securities litigation in the nation. The firm represents shareholders nationwide when publicly traded companies violate the law. Shareholders are urged to contact attorney Scott Kendall for more information
Tags: complex, directors, DOJ, Executives, FCPA, investigation, Kendall Law Group, law firm, Lawsuit, litigation, NASDAQ: SWHC, officers, Securities, share, shareholder, Smith & Wesson Holding Corporation, stock, stockholder, SWHC
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Thursday, July 8th, 2010
Kendall Law Group, a national securities firm led by a former federal judge and a former U.S. Attorney, is investigating American Physicians Capital Inc. (NASDAQ: ACAP) for shareholders in connection with the proposed acquisition by The Doctors Company, the largest national insurer of physician and surgeon medical liability. The firm’s investigation seeks to determine whether APCapital and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are an APCapital shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On July 8, 2010, the companies announced that they had entered into an agreement for APCapital to be acquired by The Doctors Company in a transaction valued at approximately $386 million. Under the terms of the agreement, APCapital shareholders will receive $41.50 for each share of common stock held in an all-cash transaction. APCaptial Director Joseph Stillwell has significant personal interest in the transaction, as he held 1,191,964 shares (12.52% of all outstanding shares) as of March 31, 2010.
Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.
Tags: ACAP, acquisition, American Physicians Capital, deal, investigation, Kendall Law Group, Merger, NASDAQ: ACAP, Securities, share, shareholder, stock, stockholder, The Doctors Company, unfair
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Thursday, July 8th, 2010
Kendall Law Group, a national securities firm led by a former federal judge and a former U.S. Attorney, is investigating certain officers and directors of Almost Family Inc. (NASDAQ: AFAM) for possible breaches of fiduciary duty and other federal and state laws. The firm’s investigation seeks to determine whether Almost Family and its directors and officers breached their fiduciary duties by causing or allowing it to unfairly take advantage of the Medicare reimbursement system. Shareholders familiar with the investigation are urged to contact the Kendall Law Group for more information at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On July 1, 2010, Almost Family announced that on June 30, 2010 it received a civil subpoena for documents and notice of investigation from the Securities and Exchange Commission. The subpoena seeks documents related to Almost Family’s “home health care services and operations, including reimbursements under the Medicare home health prospective payment system, since January 1, 2000” following the publication of an April 26, 2010 Wall Street Journal (Journal) article describing increased in-home visits billed to Medicare by Amedisys (NASDAQ: AMED). The Journal hired Henry Dove, a professor at Yale University’s School of Public Health, to analyze the number of Medicare home visits from various health care companies and to determine “whether the number of visits coincided with Medicare financial incentives.” Professor Dove determined that “the pattern of clustering visits at reimbursement trigger points was industry wide” and that after the 10 visit $2,200 bonus payment were eliminated in January 2008, Almost Family’s percentage of patients getting 10 visits dropped 39%. Almost Family share prices fell 10% on July 2, following the disclosure of the investigation.
Kendall Law Group has the credentials and experience to pursue any type of complex securities litigation in the nation. The firm is a national securities firm that represents shareholders when publicly traded companies violate the law. Shareholders are encouraged to contact attorney Scott Kendall for more information.
Tags: AFAM, Almost Family, AMED, Amedisys, directors, investigation, Medicare, NASDAQ: AFAM, NASDAQ: AMED, officers, share, shareholder, stock, stockholder
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Thursday, July 8th, 2010
Kendall Law Group, a national securities firm led by a former federal judge and a former U.S. Attorney, is investigating certain officers and directors of the LHC Group (NASDAQ: LHCG) for possible breaches of fiduciary duty and other federal and state laws. The firm’s investigation seeks to determine whether LHC and its directors and officers breached their fiduciary duties by causing or allowing it to unfairly take advantage of the Medicare reimbursement system. Shareholders familiar with the investigation are urged to contact the Kendall Law Group for more information at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On April 26, 2010, the Wall Street Journal (Journal) published an article describing increased in-home visits billed to Medicare by Amedisys (NASDAQ: AMED). The Journal hired Henry Dove, a professor at Yale University’s School of Public Health, to analyze the number of Medicare home visits from various health care companies and to determine “whether the number of visits coincided with Medicare financial incentives.” Professor Dove determined that “the pattern of clustering visits at reimbursement trigger points was industry wide” and that after the 10 visit $2,200 bonus payment were eliminated in January 2008, LHC’s percentage of patients getting 10 visits dropped 64%. Shortly after the article was released, the Senate Finance Committee launched an investigation to “determine whether the companies deliberately boosted the number of home therapy visits to trigger higher Medicare reimbursements” and LHC confirmed that they received inquiry letters. LHC share prices fell 11% immediately following the disclosure of a Securities and Exchange Commission investigation concerning Amedisys and its Medicare billing practices on July 1, 2010.
Kendall Law Group has the credentials and experience to pursue any type of complex securities litigation in the nation. The firm is a national securities firm that represents shareholders when publicly traded companies violate the law. Shareholders are encouraged to contact attorney Scott Kendall for more information.
Tags: AMED, Amedisys, directors, investigation, Kendall Law Group, LHC Group, LHCG, Medicare, NASDAQ: AMED, NASDAQ: LHCG, officers, share, shareholder, stock, stockholder
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Wednesday, July 7th, 2010
Kendall Law Group, a national securities firm led by a former federal judge and a former U.S. Attorney, is investigating Avon Products Inc. (NYSE: AVP) for shareholders. The investigation concerns potential breaches of fiduciary duties by the board of directors and other company executives in connection with ongoing investigations into potential violations of the Foreign Corrupt Practices Act (FCPA). Concerned Avon shareholders should contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On April 12, 2010, Avon placed three of their China unit executives and a New York senior executive on administrative leave in connection to an internal probe into possible violations of the FCPA. The New York executive had been the chief of Avon’s internal audit unit. The probe began in 2008 in China and has spread to other undisclosed countries according to Avon. Avon’s overseas market accounts for approximately 80% of its revenue including emerging markets in Latin America and the company said that the “cost of investigation could reach $95 million this year, from $35 million in 2009.”
Kendall Law Group was founded by a former federal judge and U.S. Attorney and has the credentials and experience to pursue any type of complex securities litigation in the nation. The firm helps shareholders exercise their power to protect their investments when companies break the law. If you are an Avon shareholder, you are encouraged to contact the Kendall Law Group to learn more about your rights.
Tags: Avon Products, AVP, investigation, Kendall Law Group, law firm, Lawsuit, NYSE: AVP, Securities, share, shareholder, stock, stockholder
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Wednesday, July 7th, 2010
(DALLAS) Kendall Law Group, a national securities firm led by a former federal judge and a former U.S. Attorney, is investigating certain officers and directors of Celera Corporation (NASDAQ: CRA) for possible breaches of fiduciary duty and other state laws. The firm’s investigation seeks to determine whether Celera’s directors and officers breached their fiduciary duties by causing or allowing the company to make materially false and misleading representations about the company’s financial condition and operations. Shareholders familiar with the investigation or who may have suffered a loss as a result are encouraged to contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On July 22, 2009, Celera released preliminary second quarter 2009 revenue results revealing that its Lab Services revenues were adversely affected by flaws in its ability to collect from certain third-party payors and patients. The following day, Celera’s stock saw a one-day decline of nearly 25%. Earlier in the year, shareholders were told that moving under contract with third-party payors would allow Celera to increase its test volumes and operate more efficiently with respect to billing and collections and that adding additional business under contract would help resolve bad debt. The company’s bad debt expense increased from $4.3 million in 2008 to $20.1 million in 2009.
Kendall Law Group has the credentials and experience to pursue any type of complex securities litigation in the nation. The firm is a national securities firm that represents shareholders when publicly traded companies violate the law. Shareholders are encouraged to contact attorney Scott Kendall for more information.
Tags: Celera Corporation, CRA, investigation, Kendall Law Group, law firm, Lawsuit, NASDAQ: CRA, Securities, security, share, shareholder, stock, stockholder
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