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Cohen Milstein Sellers & Toll PLLC Announces Class Action
Legal Marketing |
2011/08/30 09:21
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Cohen Milstein Sellers & Toll PLLC announces that it has filed a class action lawsuit in the U.S. District Court for the Southern District of New York against SinoTech Energy Limited, and certain of its officers, directors and underwriters.
The lawsuit, which is captioned Crayder v. SinoTech Energy Limited, et al., 11-CV-05935, alleges violations of the United States securities laws on behalf of purchasers of SinoTech's American Depository Shares ("ADSs") from November 3, 2010 through August 16, 2011 (the "Class Period"), including purchasers of ADSs in the Company's November 3, 2010 initial public offering (the "November IPO"). Claims for November IPO purchasers arise under Sections 11, 12(a)(2) and 15 of the Securities Act of 1933 (the "Securities Act"). Claims for other Class Period purchasers fall under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") and Rule 10b-5 promulgated thereunder by the United States Securities and Exchange Commission.
The lawsuit asserts numerous problems with SinoTech's previously issued financial statements and declarations about its future prospects. Among other claims, the complaint alleges that: (1) the Company's sole import agent, which accounted for more than $100 million worth of oil drilling equipment orders, is an empty shell company with no sign of operations; (2) the Company's only chemical supplier is also an empty shell company, with little or no revenues; (3) the Company's largest subcontracting customer, which provides the vast majority of SinoTech's revenues, has unverifiable operations with minimal revenues; (4) the financial statements SinoTech issued in the United States are inconsistent with similar filings the Company made in China; (5) the Company has engaged in undisclosed related-party transactions in violation of Generally Accepted Accounting Principles; and (6) positive statements the Company made regarding its internal financial controls were false and misleading.
On August 16, 2011, a research analyst writing under the name Alfred Little published an investigative report (the "Report") detailing these and other problems at SinoTech. The day the Report was issued, the Company's stock price plummeted more than 40%, falling from $4.02 per share on August 15, 2011 to $2.35 per share at the close of trading on August 16, 2011 - a decline of $1.67 per share on unusually high trading volume. The NASDAQ halted SinoTech trading after the market closed on August 16, 2011, announcing that trading would remain halted until the Company "fully satisfied NASDAQ's request for additional information." To date, trading has not resumed.
If you purchased the common stock of SinoTech and wish to serve as lead plaintiff, you must move the Court no later than October 18, 2011 to request that the Court appoint you as lead plaintiff. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. To be appointed lead plaintiff, the Court must decide that your claim is typical of the claims of other class members, and that you will adequately represent the class. Your share in any recovery will not be enhanced or diminished by the decision whether or not to serve as a lead plaintiff. Any member of the proposed class may retain Cohen Milstein Sellers & Toll PLLC or other attorneys to serve as your counsel in this action, or you may do nothing and remain an absent class member.
Cohen Milstein Sellers & Toll PLLC has significant experience in prosecuting investor class actions and actions involving securities fraud. The firm has offices in Washington, D.C., New York, Philadelphia, Chicago, and West Palm Beach, and is active in major litigation pending in federal and state courts throughout the nation.
The firm’s reputation for excellence has repeatedly been recognized by courts which have appointed the firm to lead positions in complex multi-district or consolidated litigation. Cohen Milstein Sellers & Toll PLLC has taken a lead role in numerous important cases on behalf of defrauded investors, and has been responsible for a number of outstanding recoveries which, in the aggregate, total over a billion dollars. Prior results do not guarantee a similar outcome. For more information visit www.cohenmilstein.com. |
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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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New York Times bestselling author Robert Dugoni in an exclusive interview
Legal Marketing |
2011/08/03 08:30
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http://lbishow.com/index.php?option=com_content&view=article&id=355:featured-guest-robert-dugoni&catid=51:americas-best-selling-authors-series
“The Verdict’s in on Murder One – Robert Dugoni has written another first-class legal thriller”….. Linda Fairstein“Stunning twists….A helluva ride from a master of courtroom suspense” – Lisa Gardner Robert Dugoni delivers another gripping legal thriller in his popular David Sloane series. The case? Defending the woman he loves against a charge of murder.Dugoni's non-fiction expose, The Cyanide Canary, published in 2004, chronicled the investigation, prosecution, and aftermath surrounding an environmental crime in Soda Springs, Idaho. It became a Washington Post Best Book of the year, and the Idaho Book of the Year.
His debut novel, The Jury Master became a New York Times bestseller. Deadly Pleasures Mystery Magazine chose it as one of three "Best of the Best" debut novels of 2006. The Seattle Times and Library Journal have likened Dugoni to a young John Grisham, calling The Jury Master, "A riveting tale of murder, skullduggery and treachery at the highest level."
Dugoni's second novel, Damage Control, reached number 8 on several national independent bookseller's lists. Publisher's Weekly and Library Journal called Damage Control "a page turner" with "a fast moving plot and a few twists that will surprise even seasoned thriller readers."
Wrongful Death, Dugoni's recently released sequel to The Jury Master has also received critical acclaim. Mysterious Reviews touted Wrongful Death as "among the best books to be published this year." Kirkus called it, "An entertaining thriller about a hotshot lawyer with good guys to like, villains to hiss, and windmills to attack." And Booklist wrote, "Mixing the suspense of a Grisham legal thriller with the political angle of a Baldacci. Dugoni is knocking on the A-list thriller door."With his signature fast-paced, page-turning action and exhilarating plot twists, Robert Dugoni once again proves why he’s so often been named the heir to Grisham’s literary throne.MURDER ONE http://www.robertdugoni.com/murderone.html |
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WHEN CORRUPTION WAS KING- Robert Cooley
Legal Marketing |
2011/06/18 10:10
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The Nationally Syndicated Radio show, The LawBusiness Insider , hosted by Steve Murphy....proudly presents former Mafia Lawyer and Chicago Cop, Robert Cooley….And Robert Dugoni, NY Times Best Selling Author in exclusive interviews on The LawBusiness Insider, July 28, 2011 1. WHEN CORRUPTION WAS KING- Robert CooleyBob Cooley was the Chicago Mafia’s “Mechanic”—a fixer of court cases. During the 1970s and ’80s, Cooley bribed judges, court clerks, and cops to keep his Mob clients—hit men, bookies, racketeers, and crooked pols— out of jail. Paid handsomely for his services, he lived fast and enjoyed the protection of the men he served This is the story of a Mob lawyer turned mole with a million-dollar contract on his head who has clanged back and forth between sin and sainthood like a church bell clapper—a turbulent youth, a stint on Chicago’s police force, law school, and then the inner sanctum of Chicago’s leading mobsters and corrupt political officials.
With wild abandon he chased crooked acquittals for the likes of Pat Marcy, an Al Capone protégé, who had become the Mob’s key political operative; ruthless Mafia Capo and gambling czar Marco D’Amico; and notorious hit man Harry Aleman. He dined with Mob bosses and shared “last suppers” with friends before their gangland executions. Cooley watched as Marcy and the Mob controlled the courts, the cops, and the politicians. Then, in a startling act of conscience, he walked into the office of the U.S. Organized Crime Strike Force and, without a pending conviction or a hit man on his tail, agreed to wear a wire on the same Mafia overlords who had made him a player.
WHEN CORRUPTION WAS KING- http://www.amazon.com/When-Corruption-Was-King-Chicago/dp/0786713305 |
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"Killing Time" An 18 Year Odyssey from Death Row to Freedom
Legal Marketing |
2011/05/26 11:22
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http://lbishow.com/index.php?option=com_content&view=article&id=349:featured-guest-john-hollway-author-of-killing-time&catid=51:americas-best-selling-authors-series
According to Harry Connick Sr, the former New Orleans District Attorney for 30 years, Angola's death row isn't such a bad place for an innocent man to spend 14 years, according to the New Orleans DA's office. Connick stated that John Thompson did not deserve the $14 million a jury awarded him, because nobody raped him and he got to play chess and watch TV. He wasn't denied medical treatment and made several pals in prison, prosecutors argued in an appeal brief. Our question to former DA Connick....How much would it have been worth it to you if you had spent the last 14 years of your life for a crime you were "FRAMED By" The New Orleans District Attorney's Office?
Thompson was railroaded in 1983, when Harry Connick was DA. In 2007, Thompson, who was wrongfully convicted of murder by Connick's DA office due to evidence withholding, was awarded a $14 million verdict by a federal court jury.
The jury found "that Thompson's 18 years behind bars (14 of which he spent in solitary confinement on death row) were caused by Connick's deliberate failure to train his prosecutors on their obligations to turn over exculpatory evidence"
"Killing Time-an 18 Year Odyssey from Death Row to Freedom" is a sobering look at our justice system, told with journalistic precision by our Guest John Hollway and his writing partner Ronald Gauthier. Told in careful timeline fashion, it details the story of John Thompson, an African American who was, in 1984, wrongfully convicted of the brutal murder of a New Orleans Hotelier, and sent, under a death sentence to Angola Prison to await execution. Thompson adamantly and unceasingly proclaimed his innocence. After Philadelphia lawyers Michael Banks and Gordon Cooney take on his case, they struggle to find areas of misconduct in his previous trials while grappling with their questions about Thompson's innocence. John Hollway and Ronald M. Gauthier have interviewed Thompson and the lawyers, and paint a realistic and compelling portrait of life on death row and the corruption in the Louisiana police and DA's office.
John Thompson, having been exonerated and freed thanks to the work of Attorneys Banks and Cooney is now deeply involved in the organization Resurrection After Exoneration or REA. He, once again, lives in Louisiana.
The Orleans Parish DA's office appealed and the case, Connick v. Thompson, was orally argued before the U.S. Supreme Court during the October 2010 term. By a 5-4 vote split along ideological lines,[6] the Supreme Court overturned the $14 million award in a decision issued on March 29, 2011.
The majority opinion by Justice Clarence Thomas construed the series of admitted violations to not amount to a pattern of similar violations of Brady v. Maryland (1963), and such a pattern was necessary to hold Connick liable for the incompetence of his employees.
The dissenting opinion, read from the bench by Justice Ruth Bader Ginsburg, noted that Connick's office had in fact committed a pattern of violations, to wit:
• Failing to disclose exculpatory blood-type evidence,
• Failing to disclose audio tapes of witness testimony,
• Failing to disclose a deathbed confession of evidence destruction by the prosecuting attorney Gerry Deegan,
• And Failing to disclose eyewitness identification of the killer that didn't match Thompson.
There are other allegations of systemic misconduct by Connick and his prosecutors. "According to the Innocence Project, a national organization that represents incarcerated criminals claiming innocence, 36 men convicted in Orleans Parish during Connick's 30-year tenure as DA have made allegations of prosecutorial misconduct, and 19 have had their sentences overturned or reduced as a result."
For additional information on John Hollway's "KILLING TIME', please visit www.johnhollway.com |
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