Tag Archives: United States District Court

Business, Finance, Occupation & Industry

Dr. Reddy's and Nordion Inc. (formerly MDS Inc.) Settle Claims

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By Business Wirevia The Motley Fool

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Dr. Reddy’s and Nordion Inc. (formerly MDS Inc.) Settle Claims

HYDERABAD, India–(BUSINESS WIRE)– Dr. Reddy’s Laboratories (NYS: RDY) announced today that it had settled its claims against Nordion Inc. (formerly MDS Inc.), headquartered in Ottawa, Canada, in a case pending in the United States District Court for the District of New Jersey, for a cash payment of USD 22.5 Million by Nordion to Dr. Reddy’s. The settlement was concluded on 20 March 2013, with the receipt of the settlement funds by Dr. Reddy’s.

The case was brought by Dr. Reddy’s in April 2009 seeking damages sustained by the company caused by a claimed breach by Nordion (then MDS) of its Laboratory Services Agreement with Dr. Reddy’s. Nordion, as a contract research organization, provided laboratory services to Dr. Reddy’s, including bio-equivalency studies, to support Dr. Reddy’s regulatory applications for approval of generic drugs, including Abbreviated New Drug Applications (ANDAs) filed with the United States Food and Drug Administration (the USFDA) for approval to market generic drugs in the United States.

The case arose after the USFDA cited MDS with violations of good laboratory practices which caused the USFDA not to accept, without further substantiation, MDS‘s laboratory reports performed during the period 2000-2004.

Disclaimer

This press release includes forward-looking statements, as defined in the U.S. Private Securities Litigation Reform Act of 1995. We have based these forward-looking statements on our current expectations and projections about future events. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially. Such factors include, but are not limited to, changes in local and global economic conditions, our ability to successfully implement our strategy, the market acceptance of and demand for our products, our growth and expansion, technological change and our exposure to market risks. By their nature, these expectations and projections are only estimates and could be materially different from actual results in the future.

About Dr. Reddy’s

Dr. Reddy’s Laboratories Ltd. (NYS: RDY) is an integrated global pharmaceutical company, committed to providing affordable and innovative medicines for healthier lives. Through its three businesses – Pharmaceutical Services and Active Ingredients, Global Generics and Proprietary Products – Dr. Reddy’s offers a portfolio of products and services including APIs, custom pharmaceutical services, generics, biosimilars, differentiated formulations and NCEs. Therapeutic focus is …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Rigrodsky & Long, P.A. Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against Navi

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By Business Wirevia The Motley Fool

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Rigrodsky & Long, P.A. Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against Navistar International Corporation

WILMINGTON, Del.–(BUSINESS WIRE)– Rigrodsky & Long, P.A.:

  • Do you, or did you, own shares of Navistar International Corporation (NYSE: NAV )?
  • Did you purchase your shares before November 3, 2010, or between November 3, 2010 and August 1, 2012, inclusive?
  • Did you lose money in your investment in Navistar International Corporation?
  • Do you want to discuss your rights?

Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the Northern District of Illinois on behalf of all persons or entities that purchased the common stock of Navistar International Corporation (“Navistar” or the “Company”) (NYSE: NAV) between November 3, 2010 and August 1, 2012, inclusive (the “Class Period“), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).

If you purchased shares of Navistar during the Class Period, or purchased shares prior to the Class Period and still hold Navistar, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, NY at (888) 969-4242, by e-mail to info@rigrodskylong.com, or at: http://www.rigrodskylong.com/investigations/navistar-international-corporation-nav.

Navistar is an international manufacturer of International® brand commercial and military trucks, IC Bus™ brand buses, MaxxForce® brand diesel engines, and recreational vehicles (“RV“) under the Monaco® RV family of brands, as well as a provider of service parts for all makes of trucks and trailers. The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects. Specifically, the Complaint alleges that the defendants concealed from the investing public that: (a) Navistar’s attempted methods to …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

DEADLINE ALERT: Rigrodsky & Long, P.A. Reminds Shareholders of Cirrus Logic, Inc. of Upcoming Deadli

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By Business Wirevia The Motley Fool

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DEADLINE ALERT: Rigrodsky & Long, P.A. Reminds Shareholders of Cirrus Logic, Inc. of Upcoming Deadline

WILMINGTON, Del.–(BUSINESS WIRE)– Rigrodsky & Long, P.A.:

  • Do you, or did you, own shares of Cirrus Logic, Inc. (NASDAQ GS: CRUS )?
  • Did you purchase your shares before July 31, 2012, or between July 31, 2012 and October 31, 2012?
  • Did you lose money in your investment in Cirrus Logic, Inc.?
  • Do you want to discuss your rights?

Rigrodsky & Long, P.A. reminds shareholders of Cirrus Logic, Inc. (NASDAQ GS: CRUS) (“Cirrus” or the “Company”) of an upcoming deadline involving a securities fraud class action lawsuit commenced against the Company.

A complaint was filed in the United States District Court for the Southern District of New York on behalf of all persons or entities that purchased the common stock of Cirrus between July 31, 2012 and October 31, 2012 (the “Class Period“), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”). If you wish to serve as lead plaintiff, you must move the Court no later than April 5, 2013.

If you purchased shares of Cirrus during the Class Period, or purchased shares prior to the Class Period and still hold Cirrus, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, NY at (888) 969-4242, by e-mail to info@rigrodskylong.com, or at: http://www.rigrodskylong.com/investigations/cirrus-logic-inc-crus.

A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Acacia Subsidiaries Enter into Settlement Agreement with Micron

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By Business Wirevia The Motley Fool

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Acacia Subsidiaries Enter into Settlement Agreement with Micron

NEWPORT BEACH, Calif.–(BUSINESS WIRE)– Acacia Research Corporation (NAS: ACTG) announced today that its Advanced Data Access LLC subsidiary, its Smart Memory Solutions LLC subsidiary, and its Semiconductor Technology LLC subsidiary have entered into a settlement and license agreement with Micron Technology, Inc., Micron Semiconductor Products, Inc., and Micron Technology Texas, LLC. This agreement resolves litigation that was pending in the United States District Court for the Eastern District of Texas and the United States District Court for the District of Delaware.

ABOUT ACACIA RESEARCH CORPORATION

Acacia Research Corporation‘s subsidiaries partner with inventors and patent owners, license the patents to corporate users, and share the revenue. Acacia Research Corporation‘s subsidiaries control over 250 patent portfolios, covering technologies used in a wide variety of industries.

Information about Acacia Research Corporation and its subsidiaries is available at www.acaciaresearchgroup.com and www.acaciaresearch.com.


Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This news release may contain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including the economic slowdown affecting technology companies, our ability to successfully develop products, rapid technological change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments and general economic conditions. Our Annual Report on Form 10-K, recent and forthcoming Quarterly Reports on Form 10-Q, recent Current Reports on Forms 8-K and 8-K/A, and other SEC filings discuss some of the important risk factors that may affect our business, results of operations and financial condition. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.

Acacia Research Corporation<br …read more
Source: FULL ARTICLE at DailyFinance

News, Politics, Government

President Obama Nominates Two to Serve on the U.S. Court of Federal Claims

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By The White House

WASHINGTON, DC – Today, President Obama nominated Patricia E. Campbell-Smith and Elaine D. Kaplan to serve on the United States Court of Federal Claims.

“These nominees have dedicated their careers to serving the public good,” said President Obama. “And in so doing, they have displayed an unyielding commitment to justice and integrity. I am confident that they will serve the American people well from the Court of Federal Claims, and I am honored to nominate them today.”

Patricia E. Campbell-Smith: Nominee for the United States Court of Federal Claims

Patricia E. Campbell-Smith has served as a Special Master with the United States Court of Federal Claims since 2005 and as Chief Special Master since 2011. In that role, she presides over litigation pursuant to the National Vaccine Injury Compensation Program. Previously, Campbell-Smith served as a career law clerk for the Honorable Emily C. Hewitt of the United States Court of Federal Claims for seven years. From 1993 to 1996 and again from 1997 to 1998, she worked at the law firm of Liskow & Lewis in New Orleans, where she focused on environmental regulatory law, patent infringement litigation, and toxic tort litigation. From 1996 to 1997, she served as a law clerk for the Honorable Sarah S. Vance, and from 1992 to 1993 she served as a law clerk for the Honorable Martin L.C. Feldman, both of the United States District Court for the Eastern District of Louisiana. Campbell-Smith received her J.D. with honors in 1992 from Tulane Law School and her B.S. with honors in 1987 from Duke University.

Elaine D. Kaplan: Nominee for the United States Court of Federal Claims

Elaine D. Kaplan serves as General Counsel of the United States Office of Personnel Management, a position she has held since 2009. Previously, she was Senior Deputy General Counsel at the National Treasury Employees Union (NTEU) from 2004 to 2009 and Of Counsel at the law firm of Bernabei and Katz from 2003 to 2004. In 1998, Kaplan was unanimously confirmed by the Senate to serve as the head of the United States Office of Special Counsel and successfully completed a five-year term in that position. From 1984 to 1998, Kaplan worked at NTEU with increasing levels of responsibility. She began her legal career as a staff attorney in the Solicitor’s Office of the United States Department of Labor. Kaplan received her J.D. cum laude in 1979 from the Georgetown University Law Center and her B.A. in 1976 from the State University of New York at Binghamton.

…read more
Source: FULL ARTICLE at The White House Press Office

Business, Finance, Occupation & Industry

Citi Statement on Citigroup Bond Class Action Suit

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By Business Wirevia The Motley Fool

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Citi Statement on Citigroup Bond Class Action Suit

NEW YORK–(BUSINESS WIRE)– Citigroup Inc. today announced it has agreed, subject to court approval, to settle a class action lawsuit brought on behalf of investors who purchased Citigroup debt and preferred stock during the period May 11, 2006, through November 28, 2008. Under the terms of the proposed settlement, Citi would pay a total of $730 million. Plaintiffs in the class action had contended, among other things, that they were misled by misstatements and omissions in the company’s disclosures during this period. Citigroup denies the allegations and is entering into this settlement solely to eliminate the uncertainties, burden and expense of further protracted litigation. The amount to be paid under the proposed settlement is covered by Citi’s existing litigation reserves.

The company released the following statement:

“This settlement is another significant step toward resolving our exposure to claims arising from the financial crisis, and we look forward to putting this matter behind us. Citi is a fundamentally different company today than at the beginning of the financial crisis. We have overhauled risk management and reduced risk exposures, while shedding assets and businesses that are not core to our strategy. We are completely focused on our clients and generating consistent, high-quality earnings.”

The proposed settlement will be reviewed by the Hon. Sidney Stein in the United States District Court for the Southern District of New York, where the class action is pending. Further information concerning the details of the settlement are available from the court’s docket, In Re Citigroup Inc. Bond Litigation, 08 Civ 9522 (SHS), or from plaintiffs’ lead counsel, Bernstein Litowitz Berger & Grossmann LLP, www.blbglaw.com.

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com/| Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi

Citigroup Inc.
Media:
Shannon Bell, 212-793-6206
or
Mark Costiglio, 212-559-4114
or
Investors:
Susan Kendall, 212-559-2718
or
Fixed Income Investors:
Peter Kapp, 212-559-5091

KEYWORDS:   United States  North America  New York

INDUSTRY KEYWORDS:

…read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

SHAREHOLDER ALERT: Levi &amp; Korsinsky Notifies Investors with Losses on Their Investment in Tellabs In

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By Business Wirevia The Motley Fool

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SHAREHOLDER ALERT: Levi & Korsinsky Notifies Investors with Losses on Their Investment in Tellabs Inc. of Class Action Lawsuit and the Deadline of March 25, 2013 to Seek a Lead Plaintiff Position

NEW YORK–(BUSINESS WIRE)– Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of Illinois on behalf of investors who purchased Tellabs Inc. (“Tellabs” or the “Company”) (NasdaqGS: TLAB) stock between October 26, 2010 and April 16, 2011.

For more information, click here:http://zlk.9nl.com/tellabs-tlab/.

The Complaint alleges that throughout the Class Period the defendants made false and misleading statements and/or failed to disclose material adverse facts about Tellabs’ business, operations and prospects. Specifically, defendants misrepresented and/or failed to disclose that: (a) in the fourth quarter of 2010, the Company was changing its distribution arrangement with a customer; (b) this change to the distribution arrangement masked that Tellabs’ business was declining substantially faster than it represented to the public; (c) the Company’s North American business was slowing at a greater rate than represented; and (d) as a result of the above, the defendants’ positive statements about the Company’s business, operations and prospects lacked a reasonable basis.

If you suffered a loss in Tellabs you have until March 25, 2013to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (877) 363-5972, or visit http://zlk.9nl.com/tellabs-tlab/.

Levi & Korsinsky is a national firm with offices in New York, New Jersey, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.

Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
Tel: 212-363-7500
Toll Free: 877-363-5972
Fax: 866-367-6510
www.zlk.com

KEYWORDS:   United States  North America  New York

INDUSTRY KEYWORDS:

The article SHAREHOLDER ALERT: Levi & Korsinsky Notifies Investors with Losses on Their Investment in Tellabs Inc. of Class Action Lawsuit and the Deadline of March 25, 2013 to Seek a Lead Plaintiff Position originally appeared on Fool.com.

Try any of our Foolish newsletter services free for …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Levi &amp; Korsinsky Notifies Investors with Losses on Their Investment in Yum! Brands, Inc. of Class Ac

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By Business Wirevia The Motley Fool

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Levi & Korsinsky Notifies Investors with Losses on Their Investment in Yum! Brands, Inc. of Class Action Lawsuit and the Deadline of March 25, 2013 to Seek a Lead Plaintiff Position

NEW YORK–(BUSINESS WIRE)– Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of investors who acquired Yum! Brands, Inc. (“Yum!” or “the Company”) (NYS: YUM) stock between October 9, 2012 and January 7, 2013.

For more information, click here: http://zlk.9nl.com/yum-brands/.

On November 29, 2012, the Company disclosed that its China Division same-store sales growth forecasts would not be met. Then on December 20, 2012 and December 21, 2012 news reports stated the Company knew, but concealed, that it was purchasing chickens containing excessive antibiotics and other illegal chemicals. In a January 7, 2013 disclosure the Company announced that it was lowering its full year 2012 guidance for same-stores sales for its China Division as a result of publicity surrounding a governmental review of the Company’s poultry supply.

If you suffered a loss in Yum! you have until March 25, 2013to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (877) 363-5972, or visit http://zlk.9nl.com/yum-brands/.

Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.

Levi & Korsinsky, LLP
Joseph Levi, Esq.
30 Broad Street – 24th Floor
New York, NY 10004
Tel: 212-363-7500
Toll Free: 877-363-5972
Fax: 866-367-6510
www.zlk.com

KEYWORDS:   United States  North America  New York

INDUSTRY KEYWORDS:

The article Levi & Korsinsky Notifies Investors with Losses on Their Investment in Yum! Brands, Inc. of Class Action Lawsuit and the Deadline of March 25, 2013 to Seek a Lead Plaintiff Position originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Dendreon Announces Securities Class Action Settlement

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By Business Wirevia The Motley Fool

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Dendreon Announces Securities Class Action Settlement

SEATTLE–(BUSINESS WIRE)– Dendreon Corporation (NAS: DNDN) today announced that it has reached an agreement in principle to settle the securities class action litigation pending against it in the United States District Court for the Western District of Washington. Upon final approval, the settlement will resolve the claims asserted against all defendants in the previously disclosed putative securities class action. The lawsuit is currently pending against the Company and three current and former executive officers.

In the lawsuit, captioned In re Dendreon Corporation Class Action Litigation, Master Docket No. C 11-1291 JLR., an investor, purporting to represent a class consisting of persons who purchased Dendreon common stock between April 29, 2010 and August 3, 2011, sought unspecified damages from Dendreon and three current and former officers of the Company for allegedly false or misleading statements concerning the Company, its finances, business operations and prospects with a focus on the market launch of PROVENGE and related forecasts concerning physician adoption, and revenue from sales of PROVENGE.

The terms agreed upon by the parties contemplates a settlement payment of $40 million, $38 million of which will be funded by Dendreon’s insurers. Dendreon and the individual defendants continue to deny that any statements they made were false or misleading.

“We are pleased to put this matter behind us,” said Christine Mikail, Executive Vice President, Corporate Development, General Counsel and Secretary of Dendreon. “Upon final approval of this settlement, Dendreon will have eliminated the potential distraction from ongoing class action litigation that began in 2011.”

The terms of the settlement must be formally documented and are subject to approval by the District Court following notice to all class members. While the Company expects the settlement will receive the needed approval, the process normally takes several months.

About Dendreon

Dendreon Corporation is a biotechnology company whose mission is to target cancer and transform lives through the discovery, development, commercialization and manufacturing of novel therapeutics. The Company applies its expertise in antigen identification, engineering and cell processing to produce active cellular immunotherapy (ACI) product candidates designed to stimulate an immune response in a variety of tumor types. Dendreon’s first product, PROVENGE® (sipuleucel-T), was approved by the U.S. Food and Drug Administration (FDA) in April 2010. Dendreon is exploring the application of additional ACI product candidates and small molecules for the potential treatment of a variety of cancers. The Company …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Robbins Geller Rudman &amp; Dowd LLP Files Class Action Suit Against Diodes, Inc.

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By Business Wirevia The Motley Fool

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Robbins Geller Rudman & Dowd LLP Files Class Action Suit Against Diodes, Inc.

NEW YORK–(BUSINESS WIRE)– Robbins Geller Rudman & Dowd LLP (“Robbins Geller“) (http://www.rgrdlaw.com/cases/diodes/) today announced that a class action has been commenced on behalf of an institutional investor in the United States District Court for the Eastern District of Texas on behalf of purchasers of Diodes, Inc. (“Diodes”) (NAS: DIOD) common stock during the period between February 9, 2011 and June 9, 2011 (the “Class Period“).

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Samuel H. Rudman or David A. Rosenfeld of Robbins Geller at 800/449-4900 or 619/231-1058, or via e-mail at djr@rgrdlaw.com. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.rgrdlaw.com/cases/diodes/. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The complaint charges Diodes and certain of its officers and/or directors with violations of the Securities Exchange Act of 1934. Diodes, together with its subsidiaries, designs, manufactures and supplies application specific standard products in the discrete, logic and analog semiconductor markets primarily in Asia, North America and Europe.

The complaint alleges that, during the Class Period, defendants issued materially false and misleading statements regarding the Company’s financial performance and future prospects. Specifically, it alleges that defendants misrepresented and/or failed to disclose the following adverse facts: (a) that the Company’s labor problems associated with its backend facility in China were much more severe and prolonged than publicly represented; (b) that the Company’s gross margins were being impacted by higher than expected wages and labor shortages; (c) that the Company was experiencing decreasing demand for its products, especially from its LED TV and notebook customers; and (d) as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about the Company and its prospects.

On June 9, 2011, Diodes updated its financial guidance for the second quarter of 2011. For the second quarter, the Company maintained its revenue guidance of $170 to $178 million, but lowered its gross margin guidance to 32.5% plus or minus 1.5% as compared to its previous guidance of 36.5% …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Chesapeake Energy Corporation Delivers Notice to Depositary to Redeem 6.775% Senior Notes Due 2019 a

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By Business Wirevia The Motley Fool

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Chesapeake Energy Corporation Delivers Notice to Depositary to Redeem 6.775% Senior Notes Due 2019 at Par

OKLAHOMA CITY–(BUSINESS WIRE)– Chesapeake Energy Corporation (NYS: CHK) delivered notice today to the Depositary to redeem the company’s 6.775% Senior Notes due 2019 (the “Notes”) at par. In addition, Chesapeake is continuing to pursue its lawsuit requesting the United States District Court for the Southern District of New York confirm that the notice to redeem the Notes the company issued today will be timely and effective to redeem the Notes at par, with payment to be made within 60 days after such notice, pursuant to the Special Early redemption provision of the Notes.

On Thursday afternoon the Court denied Chesapeake’s request for a preliminary injunction concerning The Bank of New York Mellon Trust Company’s obligation to accept the company’s notice of Special Early redemption at par. Although Chesapeake did not receive the preliminary order that it had requested from the Court, it did receive what the company views as comparable relief. In particular, the Court stated multiple times that it is “overwhelmingly” likely that the company’s notice to redeem at par will not be determined by the Court to be a notice to redeem under the “make-whole” provision of the indenture, even if the notice to redeem at par is ultimately deemed untimely. The Court also stated that “it is overwhelmingly likely that an untimely notice of Special Early redemption would be held null and void, and not as requiring redemption under the entirely different Make-Whole Price. Lest the point be unclear, I will add this: it would be reckless for any party or entity to condition its conduct or order its legal or business affairs on the assumption that the Court would rule otherwise.” Although these statements were preliminary, Chesapeake believes, based on these statements, that a notice to redeem at par, if it is ultimately found to be untimely, would be null and void, and the Notes would remain outstanding. Accordingly, the company has proceeded with the issuance of the notice of a Special Early redemption at par.

The notice provides, as required in the governing indenture, that payment will be made on May 13, 2013, pursuant to the Special Early redemption provision of the Notes, subject to a favorable ruling by the Court that such notice is timely and effective. Chesapeake desires to redeem the Notes as part of a broader refinancing of its outstanding debt obligations.

While the company is disappointed that the Court preliminarily observed that the language of the supplemental indenture was ambiguous …read more
Source: FULL ARTICLE at DailyFinance

Articles of Interest

Rock Creek Park Deer Hunting: Washington D.C. Lawsuit Thrown Out

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By The Huffington Post News Editors

Oh dear, oh deer.

Five D.C. residents and an animal rights group that sued to stop the National Park Service from hunting white tailed deer in D.C.’s Rock Creek Park had their motion for summary judgment dismissed by a federal judge on Thursday.

Robert L. Wilkins of the United States District Court for the District of Columbia found that the park service acted within its authority in coming up with its plan to control an “overabundant white-tailed deer population,” through both lethal and non-lethal means.

Read More…
More on District of Columbia

…read more
Source: FULL ARTICLE at Huffington Post

Business, Finance, Occupation & Industry

Robbins Geller Rudman &amp; Dowd LLP Announces Expanded Class Period in Class Action Suit against Atlant

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By Business Wirevia The Motley Fool

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Robbins Geller Rudman & Dowd LLP Announces Expanded Class Period in Class Action Suit against Atlantic Power Corporation

NEW YORK–(BUSINESS WIRE)– Robbins Geller Rudman & Dowd LLP (“Robbins Geller“) (http://www.rgrdlaw.com/cases/atlanticpower/) today announced that a class action has been commenced in the United States District Court for the District of Massachusetts on behalf of purchasers of Atlantic Power Corporation (“Atlantic Power” or the “Company”) (TSX:ATP) (NYS: AT) common stock during an expanded class period from July 23, 2010 through March 4, 2013, inclusive (the “Class Period“).

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from March 8, 2013. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiffs’ counsel, Samuel H. Rudman or David A. Rosenfeld of Robbins Geller at 800-449-4900 or 619-231-1058, or via e-mail at djr@rgrdlaw.com. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.rgrdlaw.com/cases/atlanticpower/. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The complaint charges Atlantic Power and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Defendant Atlantic Power is a power generation and infrastructure company with a portfolio of assets in the United States and Canada. The Company is engaged in power generation through hydro, natural gas and coal fired power plants.

The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company’s business practices and financial results. Specifically, the complaint alleges that: (i) the cash flows the Company was using to pay a 10% dividend payout were being funded by revenues derived from companies Atlantic Power was spending tens of millions of dollars to acquire during the Class Period; (ii) Atlantic Power‘s losses from operations were mounting, jeopardizing the Company’s ability to maintain the outsized dividend payment; and (iii) defendants knew that many of the Company’s project contracts were scheduled to expire over the course of 2013, meaning cash flows from those projects would be substantially lower after those contracts ended, and unbeknownst to investors, Atlantic Power was not replacing those contracts – further jeopardizing its ability to maintain the outsized dividend payment that was supporting its stock price. As a result of defendants’ materially false and misleading …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Rigrodsky &amp; Long, P.A. Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against Maxw

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By Business Wirevia The Motley Fool

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Rigrodsky & Long, P.A. Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against Maxwell Technologies, Inc.

WILMINGTON, Del.–(BUSINESS WIRE)– Rigrodsky & Long, P.A.:

  • Do you, or did you, own shares of Maxwell Technologies, Inc. (NASDAQ GS: MXWL )?
  • Did you purchase your shares before April 28, 2011, or between April 28, 2011 and March 7, 2013, inclusive?
  • Did you lose money in your investment in Maxwell Technologies, Inc.?
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Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the Southern District of California on behalf of all persons or entities that purchased the common stock of Maxwell Technologies, Inc. (“Maxwell” or the “Company”) (NASDAQ GS: MXWL) between April 28, 2011 and March 7, 2013, inclusive (the “Class Period“), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).

If you purchased shares of Maxwell during the Class Period, or purchased shares prior to the Class Period and still hold Maxwell, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, NY at (888) 969-4242, by e-mail to info@rigrodskylong.com, or at: http://www.rigrodskylong.com/investigations/maxwell-technologies-inc-mxwl.

Maxwell develops, manufactures and markets energy storage and power delivery products for transportation, industrial, telecommunications and other applications and microelectronic products for space and satellite applications. The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects. Specifically, the Complaint alleges that: (a) Maxwell had overstated its revenues and earnings in 2011 and 2012 in violation of Generally Accepted Accounting Principles (“GAAP”); (b) Maxwell had reported revenues prior …read more
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Business, Finance, Occupation & Industry

Acacia Subsidiary Enters into Settlement and License Agreement with Webtech Wireless Inc.

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By Business Wirevia The Motley Fool

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Acacia Subsidiary Enters into Settlement and License Agreement with Webtech Wireless Inc.

NEWPORT BEACH, Calif.–(BUSINESS WIRE)– Acacia Research Corporation (NAS: ACTG) announced today that its Telematics Corporation subsidiary has entered into a settlement and license agreement with Webtech Wireless Inc. This agreement resolves patent litigation that was pending in the United States District Court for the Northern District of Georgia.

ABOUT ACACIA RESEARCH CORPORATION

Acacia Research Corporation‘s subsidiaries partner with inventors and patent owners, license the patents to corporate users, and share the revenue. Acacia Research Corporation‘s subsidiaries control over 250 patent portfolios, covering technologies used in a wide variety of industries.

Information about Acacia Research Corporation and its subsidiaries is available at www.acaciaresearchgroup.com and www.acaciaresearch.com.


Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This news release may contain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including the economic slowdown affecting technology companies, our ability to successfully develop products, rapid technological change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments and general economic conditions. Our Annual Report on Form 10-K, recent and forthcoming Quarterly Reports on Form 10-Q, recent Current Reports on Forms 8-K and 8-K/A, and other SEC filings discuss some of the important risk factors that may affect our business, results of operations and financial condition. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.

Acacia Research Corporation
Rob Stewart
Investor Relations
Tel: 949-480-8300
Fax: 949-480-8301
or
Media Contact:
SpecOps Communications
Adam Handelsman
President & Founder
212-518-7721
adam@specopscomm.com

KEYWORDS:   United States  North America  California

INDUSTRY KEYWORDS:

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Business, Finance, Occupation & Industry

Glancy Binkow &amp; Goldberg LLP Announces Class Action Lawsuit Against VeriFone Systems, Ltd.

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By Business Wirevia The Motley Fool

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Glancy Binkow & Goldberg LLP Announces Class Action Lawsuit Against VeriFone Systems, Ltd.

LOS ANGELES–(BUSINESS WIRE)– Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been filed in the United States District Court, Northern District of California on behalf of all purchasers of the common stock of VeriFone Systems, Inc. (“VeriFone” or the “Company”) (NYS: PAY) between December 14, 2011 and February 19, 2013, inclusive (the “Class Period“).

VeriFone designs, markets, and services electronic payment solutions worldwide. The complaint alleges that: (a) the Company failed to execute its plan to move to a more subscriptions-based service model; (b) past acquisitions masked what was happening at the Company; (c) the Company’s accounting recognition was overly aggressive; (d) the Company lacked adequate internal and financial controls; and (e) as a result, the Company’s financial statements were materially false and misleading at all relevant times.

On February 20, 2013, the Company announced that it expected first quarter adjusted earnings to be between $0.47 to $0.57 per share on revenue of $424 million – well below analysts’ profit forecast of $0.73 per share on revenue of $492 million. The Company also announced a new revenue recognition policy which prevented it from recognizing revenues that quarter from distributors in the Middle East and Africa. On February 21, 2013, VeriFone shares declined $13.65 per share, or nearly 43%, to close on February 21, 2013, at $18.24 per share, on extremely heavy trading volume.

No class has yet been certified in this action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased VeriFone common stock during the Class Period, you have certain rights, and have until May 6, 2013 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 your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, telephone: 310-201-9150, Toll-Free: 888-773-9224, e-mail: shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Glancy Binkow & Goldberg …read more
Source: FULL ARTICLE at DailyFinance