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Court dismisses investor lawsuits against Porsche
Headline Legal News |
2012/09/20 16:19
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Wednesday's ruling by Braunschweig state court in northern Germany appears to strengthen Porsche's position, which still faces other court battles in connection with the 2008 takeover bid, German news agency dapd reported.
Two investors in the Braunschweig case had sought $6.1 million in damages claiming that Porsche published misleading information while it was secretly trying to take control of the much-larger Volkswagen.
Porsche's bid failed amid an unsustainable debt burden and the collapse of financial markets following the Lehman Brothers bankruptcy, eventually leading Volkswagen to take full control of Porsche. |
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NY court protects French shoemaker's red soles
Headline Legal News |
2012/09/05 16:09
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A federal appeals court in Manhattan says the distinctive red soles of Christian Louboutin shoes are entitled to trademark protection.
The 2nd U.S. Circuit Court of Appeals on Wednesday ruled in favor of the French maker of luxury shoes worn by stars such as Sarah Jessica Parker, Scarlett Johansson and Halle Berry.
The court says Louboutin is entitled to protect its brand against red-soled shoes made by competitor Yves Saint Laurent S.A.S., which is also based in Paris.
The U.S. Patent and Trademark Office in 2008 had granted the trademark protection to Louboutin.
Louboutin has applied glossy vivid red to the outsoles of women's shoes since 1992. The shoes sell for up to $1,000 a pair.
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Judge won't halt Pa. voter identification law
Headline Legal News |
2012/08/15 11:18
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A Pennsylvania judge isn't stopping a tough new voter identification law from going into effect.
Commonwealth Court Judge Robert Simpson on Wednesday refused to grant an injunction that would have halted the law requiring each voter to show a valid photo ID. Opponents are expected to file a prompt appeal to the state Supreme Court as the Nov. 6 presidential election looms.
The law is the subject of a furious debate over voting rights. People challenging it include some who say they'll be unable to vote.
Democrats say the law will make it harder for the elderly, minorities, poor and young adults to vote, and is designed to help Republican challenger Mitt Romney beat Democratic President Barack Obama.
Republicans who control the Legislature and the governor's office say they think it'll prevent voter fraud. |
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Federal court rules for Ohio festival free speech
Headline Legal News |
2012/02/13 10:07
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A federal appeals court has ruled in favor of two Christians who say their free speech rights were violated at a southwest Ohio corn festival.
A 6th U.S. Circuit Court of Appeals three-judge panel ruled unanimously Monday that a policy against solicitation at the annual Sweet Corn Festival was too broad, and unconstitutional. The panel reversed a federal judge's ruling.
The case stemmed from the summer 2009 festival in the Dayton suburb of Fairborn, Ohio. Plaintiffs Tracy Bays and Kerrigan Skelly planned to convey their religious beliefs among festival-goers, and Bays began walking through the park with a sandwich board sign with Christian messages. After encountering opposition from a festival worker and officials, they left.
They sued in 2010. The Christian legal aid group Alliance Defense Fund argued their appeal. |
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The Shuman Law Firm Announces Class Action
Headline Legal News |
2012/02/13 10:07
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The Shuman Law Firm today announced that a lawsuit seeking class action status has been filed in the U.S. District Court for the District of Colorado on behalf of purchasers of the common stock of Molycorp, Inc. between March 9, 2011 and November 10, 2011, inclusive (the “Class Period”).
If you wish to discuss this action or have any questions concerning this notice or your rights and interests with respect to this matter, please contact Kip B. Shuman or Rusty E. Glenn toll free at (866) 974-8626 or email Mr. Shuman at kip@shumanlawfirm.com or Mr. Glenn at rusty@shumanlawfirm.com.
The complaint alleges that Molycorp and certain of its officers and directors violated federal securities laws by issuing materially false and misleading statements regarding the Company's business and prospects. Specifically, it is alleged that the defendants misrepresented and/or failed to disclose the following adverse facts during the Class Period: (a) Molycorp's development and expansion of the Mountain Pass mine was not progressing on schedule and would not allow the company to reach rare earth oxide production rates at the end of calendar 2012 and 2013; and (b) end users had been reducing demand for the company's products as prices for rare earth elements increased.
On November 10, 2011, the Company reported disappointing third quarter 2011 revenues and earnings results below analysts' estimates and announced a reduction in Mountain Pass production guidance for the fourth quarter of 2011 due to expected equipment downtime relating to Mountain Pass engineering and expansion issues. The Company's stock price fell from $38.70 per share on November 10, 2011 to $33.45 per share on November 11, 2011, or approximately 13.6%.
If you purchased Molycorp common stock during the Class Period, you may request that the Court appoint you as lead plaintiff of the class no later than April 3, 2012. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation.
The Shuman Law Firm represents investors throughout the nation, concentrating its practice in investor rights litigation. |
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