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Tag Archives: Securities

Shareholders settle class action against Star Scientific – $5,900,000 Settlement (access required)

This was a securities class action on behalf of all persons who purchased or otherwise acquired the publicly traded securities of Star Scientific Inc. between Oct. 31, 2011, and March 18, 2013, against Star Scientific and certain of its officers ...

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Investors Claim Fraud on Insurance ‘Reserves’ (access required)

Plaintiff class of investors who allege defendant Genworth Financial repeatedly reassured investors that the company had adequate reserves for its primary product, long-term care insurance, but saw Genworth stock drop by 55 percent after the company revealed on Nov. 5, ...

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Company’s Contract Hopes Were ‘Puffery’ (access required)

Institutional investors in Neustar stock have failed to state securities fraud claims based on Neustar’s statements in press releases and in an investor conference call about Neustar’s chances of winning renewal of a lucrative government contract for a central data ...

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Shareholder Can’t Stop Merger Vote (access required)

In plaintiff shareholder’s suit alleging defendants violated federal securities law by providing false, misleading and incomplete information in a proxy statement and that defendant board members had conflicts of interest, a Richmond U.S. District Court denies plaintiff’s motion for a ...

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Fluvanna County drops suit against financial advisor – Voluntary Dismissal (access required)

The Fluvanna County Board of Supervisors accepted a demand for voluntary dismissal with prejudice of the county’s three-year lawsuit against Davenport & Company LLC concerning the financing for a new Fluvanna County High School in 2008. According to a statement ...

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Directors Face ‘Control Person’ Liability Claim (access required)

Investors in a bank that collapsed have sufficiently pleaded “control person” liability claims against defendant bank executives and director defendants, based on allegations of conduct such as defendants signing at least two financial statements that were purportedly fraudulent; the Norfolk ...

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No Shareholder Derivative Suit for ‘Red Flags’ to D&O (access required)

An Alexandria U.S. District Court dismisses plaintiff shareholders’ suit alleging defendant directors and officers of Capital One ignored multiple “red flags” that alerted them to problems at third-party call centers that marketed and sold add-on products such as payment protection ...

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