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Scott+Scott LLP Announces Class Action Lawsuit
Headline Legal News |
2011/02/25 17:14
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Scott+Scott LLP filed a class action complaint against Oilsands Quest Inc. ("Oilsands Quest" or the "Company") (AMEX:BQI) and certain of the Company's officers in the U.S. District Court for the Southern District of New York. The action for violations of the Securities Exchange Act of 1934 is brought on behalf of those purchasing the common stock and other publicly-traded securities of Oilsands Quest between August 14, 2006 and July 14, 2009, inclusive (the "Class Period"), including Oilsands Quest's "Exchangeable Shares" offered as consideration for the minority interest in OQI Sask on August 14, 2006; Oilsands Quest's "units" first publicly offered on December 5, 2007 at $5.00 per unit; Oilsands Quest common stock shares publicly offered on December 5, 2007 on a flow-through basis at $6.11 ($6.17 CDN) per share; and Oilsands Quest's "units" first publicly offered on May 1, 2009 at $0.85 per unit. If you purchased Oilsands Quest common stock or other Oilsands Quest securities during the Class Period and wish to serve as a lead plaintiff in the action, you must move the Court no later than 60 days from today. Any member of the investor class may move the Court to serve as lead plaintiff through counsel of its choice, or may choose to do nothing and remain an absent class member. If you wish to discuss this action or have questions concerning this notice or your rights, please contact Scott+Scott (scottlaw@scott-scott.com, (800) 404-7770, (860) 537-5537 or visit the Scott+Scott website, http://www.scott-scott.com) for more information. There is no cost or fee to you. The complaint filed in the action charges that, during the Class Period, Oilsands Quest and certain of its officers and directors overstated the value of the Company's assets by more than $136 million in violation of Generally Accepted Accounting Practices ("GAAP"). |
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France's Publicis faces $100 million gender bias lawsuit
Headline Legal News |
2011/02/25 15:13
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A former public relations employee has sued Publicis Groupe SA for $100 million, saying the French advertising company discriminates against women in pay and promotions. Women make up 70 percent of the company's public relations staff but hold only about 15 percent of leadership positions, the lawsuit says. "A Publicis woman's place is in the back of the line, far removed from senior management positions, almost all of which are reserved for the men," the complaint contends. The case was filed in U.S. District Court in Manhattan and seeks class-action status. It was filed by Monique da Silva Moore, who was global healthcare director in the Boston office of the company's public relations division MSLGroup. "We generally do not comment on pending litigation, but we can say that the fact that the Equal Employment Opportunity Commission dismissed Ms da Silva's charge reflects the lack of merit to her claims," a spokeswoman for MSLGroup said. |
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Vivendi To Cut US Class Action Provision
Headline Legal News |
2011/02/24 17:13
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Vivendi SA said Wednesday it will significantly reduce the EUR550 million provision it had made to cover potential damages for a U.S. class action case after a U.S. judge narrowed the size of the class. The Paris-based company's potential liabilities have been slashed by 80% in light of the court victory, which will free up more cash as the group prepares to buy out Vodafone PLC's minority stake in telecoms operator SFR. Vivendi made the provision in its 2009 accounts to cover any eventual payout after a jury in January last year found the company liable for 57 misstatements about its financial condition in the two years leading up to its near bankruptcy in 2002. The damages arising from the ruling in January 2010, which was based on a class involving shareholders outside the U.S., could have totaled more than $9 billion, according to lawyers for the shareholders, although Vivendi's lawyer Herve Pisani rejected the sum as "unfounded." The ruling Tuesday by U.S. District Judge Richard Holwell that shareholders who bought Vivendi shares outside the U.S. are barred from bringing fraud claims against the company in the U.S., considerably narrowed the overall size of the potential class. |
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Horizon Lines to plead guilty to fixing prices
Headline Legal News |
2011/02/21 17:13
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U.S. authorities say the shipping company Horizon Lines LLC has agreed to plead guilty to fixing prices and to pay a $45 million fine. A Justice Department statement Thursday says the company was accused of conspiring to fix rates and surcharges for freight transportation between the United States and Puerto Rico from May 2002 until April 2008. Five former executives have been sentenced after pleading guilty in 2008 to charges related to the shipping conspiracy. The Charlotte, North Carolina-based company has a fleet of 20 U.S.-flagged cargo ships that carry items including heavy equipment, medicines and consumer goods. In June 2009, the company agreed to pay $20 million to settle a class action price-fixing lawsuit.
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as man on Neb. death row appeals to high court
Headline Legal News |
2011/02/19 17:15
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A Texas man on Nebraska's death row for killing two men has appealed his case to the state Supreme Court. Marco Torres Jr., formerly of Pasadena, Texas, was convicted of two counts of first-degree murder and other charges in the 2007 shooting deaths of two Grand Island men, 48-year-old Timothy Donohue and 60-year-old Edward Hall. Prosecutors said Torres fled to Texas after the shootings and burned Hall's car in a remote area. He was arrested in Houston. Torres is asking the high court to throw out his conviction because some evidence shouldn't have been allowed, and his objection to the sentencing process shouldn't have resulted in a death sentence, among other things. Arguments will be heard March 2. |
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Fla. Ruling Big Tobacco Won Comes Back To Bite It
Headline Legal News |
2011/02/18 17:15
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A Florida Supreme Court ruling that threw out a $145 billion award against cigarette makers is biting Big Tobacco back, making it dramatically easier for thousands of smokers to sue and turning the state into the nation's hot spot for damage awards. The 2006 ruling has helped generate more than $360 million in damage awards in only about two dozen cases. Thousands more cases are in the pipeline in Florida, which has far more smoking-related lawsuits pending than any other state. Though the justices tossed the $145 billion class-action damage award, they allowed about 8,000 individual members of that class to pursue their own lawsuits. And in a critical decision, they allowed those plaintiffs to use the original jury's findings from the class-action case. That means the plaintiffs don't have to prove that cigarette makers sold a defective and dangerous product, were negligent, hid the risks of smoking and that cigarettes cause illnesses such as lung cancer and heart disease. The plaintiffs must mainly show they were addicted to smoking and could not quit, and that their illness — or a smoker's death — was caused by cigarettes. Jurors have sided with smokers or their families in about two-thirds of the 34 cases tried since February 2009, when the first Florida lawsuit following the rules set by the Supreme Court decision went before a jury. Awards have ranged from $2 million or less to $80 million, though tobacco companies are appealing them all. |
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Maine federal judge lets class action in care suit
Headline Legal News |
2011/02/03 17:52
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A federal judge in Maine says 40 residents with cerebral palsy, epilepsy and other conditions can join a lawsuit seeking to force the state to provide opportunities for them to live outside nursing homes. On Monday, U.S. District Court Judge John Woodcock granted class-action status to a lawsuit filed by three men with cerebral palsy who want to live on their own but retain services provided by the Maine Department of Health and Human Services. In the lawsuit filed in December 2009, the three argued the state violated the Americans with Disabilities Act and the Nursing Home Reform Act because it failed to make it possible for them to live outside nursing homes. The Bangor Daily News says state officials couldn't be reached Wednesday because of the storm. |
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