July 7, 2015
Kendall Law Group, led by former federal judge Joe Kendall, today announces that a federal securities fraud class action lawsuit has been filed in the U.S. District Court for the District of South Carolina Rock Hill Division against the officers and directors of 3D Systems Corporation (NYSE: DDD) for securities violations by making materially false and misleading statements about 3D’s business prospects.
According to the complaint, on October 29, 2013, 3D Systems announced it was tripling its manufacturing capacity over the next 12 months and accelerating the development of additional direct metal 3D printer models. It also touted the strategic value of the company’s recent acquisitions and said it planned to quadruple direct metal printing sales over the next 12 to 18 months. Following the announcement, 3D stock soared, reaching … View More
July 2, 2015
The U.S. Supreme Court has agreed to hear the case of a former North Texas executive who was convicted in federal court of violating the Computer Fraud and Abuse Act after allegedly accessing his former company’s email system. The Kendall Law Group was retained to appeal the conviction to the U.S. Court of Appeals for the 5th Circuit. As part of the ongoing appeal process, the Kendall Law Group asked for further review by the U.S. Supreme Court. The Court signed a June 29 order agreeing to hear the case.
“We are very gratified that the Supreme Court has granted the petition and will be considering this case in its next term,” says firm partner Jody Rudman. She and Kendall Law Group founder and former Federal Judge Joe … View More
July 2, 2015
Kendall Law Group, led by former federal judge Joe Kendall, is investigating Health Net, Inc. (NYSE: HNT) and its Board of Directors on behalf of shareholders in connection with the proposed acquisition of HNT by Centene Corporation (NYSE: CNC). Pursuant to the terms of the merger, Centene would acquire Health Net in a transaction valued at approximately $6.8 billion. Health Net stockholders will receive .622 shares of Centene common stock and $28.25 in cash for each share of Health Net, an approximate value of $78.57.
The national securities firm’s investigation seeks to determine whether Health Net and its Board breached their fiduciary duties by failing to fulfill their fiduciary duties, failing to maximize the value of the Company, failing to disclose all material benefits and costs, and … View More
July 2, 2015
Kendall Law Group, led by former federal judge Joe Kendall, is investigating Xoom Corp. (NASDAQ: XOOM) and its Board of Directors on behalf of shareholders in connection with the proposed buyout by Paypal, Inc. According to the terms of the transaction, Xoom shareholders are anticipated to receive $25 cash for each share of Xoom common stock held.
The Kendall Law Group is investigating to determine whether the transaction substantially undervalues Xoom because at least one Wall Street financial analyst believes Xoom has a price target of $32 per share. Further, the stock has traded higher than the merger price ($26.86 per share) within the last year.
The national securities firm’s investigation seeks to determine whether Xoom and its Board breached their fiduciary duties by engaging in self-dealing, failing … View More
July 1, 2015
Kendall Law Group, led by former federal judge Joe Kendall, is investigating Gramercy Property Trust Inc. (NASDAQ: GPT) and its Board of Directors on behalf of shareholders in connection with the proposed sale to Chambers Street Properties (NYSE: CSG). Pursuant to the terms of the merger, Gramercy shareholders will receive 3.1898 shares of Chambers for each Gramercy share. Upon closing, Chambers shareholders will own approximately 56% and Gramercy shareholders will own approximately 44% of the combined company.
The long-term financial outlook of Gramercy looks positive; however, based on yesterday’s closing price, Gramercy shareholders will only receive approximately $25.36 per share. The merger agreement also places questionable limits on prospective bids and a hefty termination fee if a more favorable bid is accepted by Gramercy.
The national securities … View More
June 30, 2015
(DALLAS) Kendall Law Group, led by former federal judge Joe Kendall, is investigating Towers Watson & Co. (NASDAQ: TW) and its Board of Directors on behalf of shareholders in connection with the proposed sale to Willis Group (NYSE: WSH). Pursuant to the terms of the merger, Towers Watson shareholders will receive 2.6490 Willis shares for each Towers Watson share. Towers Watson shareholders will also receive a one-time cash dividend of $4.87 per Towers Watson share pre-closing. Subject to Willis shareholder approval, Willis expects to implement a 2.6490 for one reverse stock split, so that each one Willis share will be converted into 0.3775 Willis Towers Watson shares. If the reverse stock split is approved, Towers Watson shareholders will receive one share of Willis Towers Watson for each … View More
June 24, 2015
The Kendall Law Group, LLP and Block & Leviton LLP have filed a class action lawsuit against Global Power Equipment Group, Inc. (“Global Power” or the “Company”) GLPW, -0.50% following the Company’s announcement that it would restate certain of its financial statements because of accounting errors affecting its fourth quarter of and year end 2014. The lawsuit was filed in the United States District Court for the Northern District of Texas and is captioned Budde v. Global Power Equipment, Inc., et al., No. 3:15-cv-2120 (N.D. Tex.). The lawsuit affects all investors in Global Power securities purchased between March 17, 2014, and May 6, 2015, inclusive (the “Class Period”).
More specifically, on May 6, 2015, Global Power filed a Form 8-K with the SEC indicating that its Audit Committee determined … View More
June 17, 2015
Alvin Jackson has won a major victory in his racial discrimination and retaliation lawsuit against the Frisco Independent School District following a ruling from the 5th U.S. Circuit Court of Appeals. In a ruling issued June 15, the 5th Circuit found that the former history teacher’s claims were valid under both federal and state law, and should be heard by a jury. The ruling overturned a 2014 summary judgment issued by the U.S. District Court in Sherman that dismissed the case in the school district’s favor.
As noted in news coverage in the Dallas Morning News, Mr. Jackson filed a suit against the district in 2012, saying his contract was not renewed because he complained about discrimination and racial hostility at the high school. An article in the Frisco … View More
June 16, 2015
Pamela Lea, the former Cleburne ISD Athletic Director, has filed a discrimination charge with the Equal Employment Opportunity Commission against Cleburne ISD for discriminatory discharge based on Lea’s age and gender. Lea alleges that CLeburne ISD’s new superintendent, Kyle Heath, approached Lea near the end of the school year and told her she could retire, be reassigned, or be fired. Heath subsequently hired a substantially younger, less qualified man to replace Lea as the new Athletic Director. Lea believes that this new Athletic Director is less qualified than Lea and several other female applicants.
News of the discrimination charge has made waves across the small community of Cleburne. The Cleburne Times Review has published an article discussing Lea’s claims.
The Equal Employment Opportunity Commission and Texas Labor Code makes it … View More