Class Action Filed Against Former, Current A&P Execs
Areas of Focus | 2011/09/14 05:16
A class action has been filed in the U.S. District Court for the District of New Jersey on behalf of purchasers of the securities of the Great Atlantic & Pacific Tea Co. Inc. (A&P) for the period between July 23, 2009, and Dec. 10, 2010. The complaint, filed Sept. 9 by Robbins Geller Rudman & Dowd LLP, a 180-lawyer firm with offices in San Diego, San Francisco, New York, Boca Raton, Washington, Philadelphia and Atlanta, claims that some former and current A&P executives violated the Securities Exchange Act of 1934. A&P itself wasn’t named as a defendant in the action because it filed for bankruptcy protection in December 2010.

Those named in the action are former Executive Chairman and CEO Christian Haub, former CEO and President Eric Claus, former CFO and Treasurer Brenda Galgano, Vice Chairman and Chief Strategy Officer Andreas Guldin, former CEO and President Ron Marshall, and current CEO and President Sam Martin.

The complaint alleges that during the period mentioned above, the defendants failed to disclose material adverse facts about the company’s true financial condition, business and prospects. Specifically, the class action alleges that the executives failed to reveal that A&P was facing increased low-cost competition from retailers such as Walmart and Target, which  negatively affected its business and financial condition; that the Pathmark acquisition was a “complete disaster” for the company, as Pathmark’s operations were in far worse condition than had been represented to investors; that A&P wasn’t operating according to internal expectations and couldn’t achieve the guidance endorsed by the defendants; and that, as a result of these factors, the defendants lacked a reasonable basis for their positive statements about the company, its operations and prospects.

The class action seeks to recover damages on behalf of all purchasers of A&P securities during the period noted above. Those who are member of this class can view a copy of the complaint or join the class action online at www.rgrdlaw.com/cases/aandp


[PREV] [1] ..[1374][1375][1376][1377][1378][1379][1380][1381][1382].. [1987] [NEXT]
All
Headline Legal News
Legal Topics
Legal Business
Attorney News
Court News
Court Watch
Areas of Focus
Legal Interview
Opinions
German court: Catalan politician ..
Demonstrators force Fox crew from..
German court: Catalan politician ..
Audit: 'Pervasive lack of account..
Hawaii Supreme Court sides with l..
Wisconsin court to rule on conser..
The Latest: Trump promises 'great..
The Latest: Trump promises 'great..
Trump closes in on Supreme Court ..
Drivers challenge license suspens..
Trump has 2 or 3 more candidates ..
Schumer rallies opposition to Tru..
Prosecutor to press court to rele..
McConnell touts Thapar for Suprem..
Georgia officer to appear in cour..
For new Supreme Court justice, a ..
Supreme Court adopts new rules fo..
Man charged in bike path killings..
Indonesia court sentences cleric ..
High Court: Online shoppers can b..




Santa Ana Workers' Compensation Lawyers
www.gentryashtonlaw.com
Fort Washington Employment Law Firm
Attorney Marc E. Weinstein
www.meweinsteinlaw.com
Chicago Truck Drivers Lawyer
Chicago Workers' Comp Attorneys
www.krol-law.com
Downtown Manhattan Business Law Attorneys
Breach of Contract Lawyers
www.woodslaw.com
San Francisco Trademark Lawyer
San Francisco Copyright Lawyer
www.onulawfirm.com
Lorain Elyria Divorce Lawyer
www.loraindivorceattorney.com
Chicago Business Law Attorney
Corporate Litigation Attorneys
www.rothlawgroup.com
Houston Estate Administration Lawyer
www.trishaenglishlaw.com
Car Accidents Attorneys
New Rochelle Personal Injury
www.kboattorneys.com
Surry County Criminal Defense Lawyers
Yadkin County Family Law Attorneys
www.dirussolaw.com
St. Louis Missouri Criminal Defense Lawyer
St. Charles DUI Attorney
www.lynchlawonline.com
Connecticut Special Education Lawyer
www.fortelawgroup.com
Law Firm Web Design Templates
Lawyer Website Templates
www.webpromo.com
   Legal Resource
Headline Legal News for You to Reach America's Best Legal Professionals. The latest legal news and information - Law Firm, Lawyer and Legal Professional news in the Media.
 
 
 
Copyright © ClickTheLaw.com. All Rights Reserved. The content contained on the web site has been prepared by Click The Law. as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. By using the www.clickthelaw.com you agree to be bound by these Terms & Conditions.

Law Firm Web Design by Lawyer Website Design - Lawyer Web Site Design That Works