‘Enforcement 40’ for 2020
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By Securities Docket on August 19, 2008, 10:33 pm
On August 18, 2008, United States District Judge William Alsup appointed Hagens Berman Sobol Shapiro lead counsel in the securities class action litigation against Charles Schwab Corporation (SCHW) involving Schwab YieldPlus Funds Investor Shares (SWYSX) and Schwab YieldPlus Funds Select Shares (SWYPX). The lawsuit alleges that that Schwab deceived investors about the underlying risk in the […]
By Securities Docket on August 19, 2008, 10:23 pm
On August 18, 2008, United States District Judge Paul Crotty granted Medis Technologies motion to dismiss the securities class action filed against it and its CEO, Robert Lifton, in the Southern District of New York. Medis was represented by Deborah Hilarie Renner, Abigail Delette Lauer and Benito Delfin, Jr. of Sonnenschein Nath & Rosenthal in New York. Read the Medis Technologies […]
By Securities Docket on August 19, 2008, 3:20 pm
Australian corporation ABC Learning Centres is reportedly facing legal action from current and former shareholders on claims the company failed to meet its continuous disclosure obligations. IMF (Australia) Ltd said it will fund claims that certain shareholders have against ABC regarding alleged misleading and deceptive conduct between August 27, 2007, and April 21, 2008. The […]
By Securities Docket on August 19, 2008, 10:35 am
Reed Smith announced last week that Amy Greer, formerly Regional Trial Counsel for the SEC in Philadelphia, has joined the firm as a partner in the Philadelphia office. She joins the firm’s Regulatory Litigation Group.
By Securities Docket on August 19, 2008, 12:05 am
General Motors and Deloitte & Touche agreed last week to pay a total of $303 million to settle a securities class action settlement alleging that GM made material misstatements in its financials dating back to 2000. Under the agreement, GM will pay $277 million in cash to a class of its shareholders, and Deloitte, GM’s outside auditor, will […]