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Lawyers wrap up Int'l Court's first trial
Legal Business |
2011/08/25 08:57
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Prosecutors began wrapping up the International Criminal Court's landmark first trial on Thursday by urging judges to convict a Congolese warlord of recruiting hundreds of child soldiers and sending them to fight and kill in his country's brutal conflict. Deputy Prosecutor Fatou Bensouda told judges that evidence in the trial that began in January 2009 gave voice to children that militia leader Thomas Lubanga had "transformed into killers; those girls that Mr. Lubanga offered to his commanders as sexual slaves." Bensouda said the armed wing of Lubanga's Union of Congolese Patriots political party trained hundreds of children in 20 camps scattered across the Ituri region of eastern Congo in 2002-2003. "They were used to fight in conflicts. They were used to kill, rape and pillage," she added. Actress Angelina Jolie, who is a goodwill ambassador for the U.N. High Commissioner for Refugees, was among dozens of people who watched proceedings from the court's public gallery. She made no comment to reporters. |
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Law Offices of Howard G. Smith Announces Class Action
Headline Legal News |
2011/08/25 08:56
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Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of purchasers of the common stock of Penson Worldwide, Inc. (“Penson Worldwide” or the “Company”) between February 10, 2011 and August 4, 2011, inclusive (the “Class Period”), seeking to pursue remedies under the Securities Exchange Act of 1934. The class action lawsuit was filed in the United States District Court for the Northern District of Texas.
Penson Worldwide, through its subsidiaries, provides securities and futures processing infrastructure products and services to the financial services industry. The Complaint alleges that during the Class Period, Penson concealed from investors that by at least the end of 2010: (1) the Company had approximately $96-97 million in receivables, of which approximately $43 million were collateralized by illiquid securities and therefore unlikely to be collected; (2) the Company’s assets (Nonaccrual Receivables) were materially overstated and should have been written down at least by the end of 2010; (3) as a result, the Company’s reported income and EBITDA (earnings before interest, taxes, depreciation and amortization and stock-based compensation, and excluding certain nonoperating expenses) were materially overstated; and (4), the Company’s financial statements were not prepared in accordance with Generally Accepted Accounting Principles.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased Penson Worldwide securities between February 10, 2011 and August 4, 2011, you have certain rights, and have until October 24, 2011, to move for lead plaintiff status. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com. |
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Court asked to stop immigrant license checks
Court Watch |
2011/08/24 08:57
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Four state legislators and a Silver City woman asked a judge Wednesday to stop Gov. Susana Martinez's administration from trying to verify whether immigrants who received a driver's license in New Mexico still live in the state. An Albuquerque law firm and the Mexican American Legal Defense and Educational Fund filed a lawsuit in state District Court in Santa Fe on behalf of the Democratic lawmakers and the Hispanic woman. The suit seeks to block a state agency from checking a random sample of 10,000 license holders who are foreign nationals to determine their residency. New Mexico is one of only three states — the others are Washington and Utah — where an illegal immigrant can get a driver's license because no proof of citizenship is required. However, Utah's permits cannot be used as government ID cards. Martinez wants the Legislature to end New Mexico's policy of granting driver's licenses to illegal immigrants. She and other critics contend it jeopardizes public safety and attracts illegal immigrants who fraudulently claim to live in the state only to get ID cards that make it easier to stay in the country. |
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Berman DeValerio Announces Securities Class Action
Legal Marketing |
2011/08/23 10:19
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The law firm of Berman DeValerio filed a securities class action lawsuit today against Miller Energy Resources, Inc.
The lawsuit alleges violations of United States securities laws on behalf of purchasers of common stock from December 16, 2009 through and including August 1, 2011 (the “Class Period”).
Berman DeValerio (www.bermandevalerio.com) brought the complaint against the Company and certain of its directors and officers (the “Defendants”) in the United States District Court for the Eastern District of Tennessee. The case is filed as 3:11-cv-00397.
Pursuant to the Private Securities Litigation Reform Act of 1995, investors wishing to serve as the lead plaintiff are required to file a motion for appointment with the court no later than October 11, 2011.
The claims arise under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, 15 U.S.C. §§ 78j(b) and 78t(a), (the “Exchange Act”), and Rule 10b-5 promulgated thereunder by the United States Securities and Exchange Commission (the “SEC”) for class period purchasers.
The complaint alleges that throughout the Class Period, Miller, an oil and gas exploration, production and drilling firm, and the other Defendants made material false statements about Miller’s financial results and about the valuation of certain oil-and-gas-producing assets it acquired in Alaska. Specifically, the complaint alleges that Defendants: (1) issued false and misleading consolidated balance sheets, statements of operations and cash flows; (2) failed to properly classify royalty expenses; (3) failed to properly record sufficient compensation expense on equity awards; (4) did not properly calculate the liability for derivative instruments; (5) did not properly consolidate entities under its control; and (6) improperly reported the value of certain oil and gas assets that it acquired in Alaska. As a result of these problems, the Company was required to restate its financial results. Over a series of almost daily disclosures occurring on July 28, 2011, July 29, 2011 and August 1, 2011, Miller’s stock price dropped from $7.04 per share on July 27, 2011 to a close of $3.37 per share on August 2, 2011, a total drop of $3.67 or 52%.
To receive a copy of the complaint, please call Berman DeValerio at (800) 516-9926.
If you are a member of the class, you may, no later than October 11, 2011, request that the court appoint you as lead plaintiff for the class. In addition, you may contact the attorneys at Berman DeValerio to discuss your rights and interests in the case. Please note: you may also retain counsel of your choice and need not take any action at this time to be a class member.
Berman DeValerio is a national law firm representing plaintiffs in lawsuits against corporate wrongdoers, chiefly for violations of securities and antitrust laws. The firm has 49 lawyers in Boston, San Francisco and South Florida. |
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Court rules Ventas may immediately collect $102M
Headline Legal News |
2011/08/22 10:18
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Health care real estate investment trust Ventas Inc. said a federal court has ruled it can immediately collect $102 million in damages awarded by a federal jury in 2009 in a judgment against HCP Inc.
The two companies had agreed to delay payment of the funds while HCP appealed the decision. In May, the U.S. 6th Circuit Court of Appeals upheld the judgment and ordered a second trial to decide punitive damages. Those proceedings are set to begin in February.
Ventas, based in Chicago, said late Monday that the U.S. District Court for the Western District of Kentucky ruled that HCP could not further delay enforcement of the judgment. In the case, Ventas accused HCP of driving up the purchase price of Sunrise Senior Living real estate investment trust.
HCP of Long Beach, Calif., said in a separate statement it will promptly pay the $102 million. It had accrued the full amount in the third quarter of 2009, and the payment will have no additional impact on its earnings.
Ventas operates a portfolio of senior housing communities, skilled nursing facilities, hospitals, medical office buildings and other properties in 47 states and two Canadian provinces. |
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