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Read items of interest about events, trends, and players in the class-action world.
Laborers' Annuity and Benefit System of Chicago Named Lead Plaintiff in Case against Force Protection, Inc.
A federal judge recently selected the $1.7 billion Laborers' Annuity and Benefit Fund of Chicago as co-lead plaintiff in a securities class action against armored vehicle maker Force Protection. Berman DeValerio represents the fund as co-lead counsel in the case.
Arbitration Claims Against UBS Financial Services
Seek Monetary Recovery, Berman DeValerio Announces
An investor lost nearly $1.3 million when UBS Financial Services, Inc., a subsidiary of UBS AG (NYSE: UBS) (collectively, "UBS"), lowered the value of securities that the broker had purported to be a safe investment, according to an arbitration statement of claim filed by Berman DeValerio.
Berman DeValerio Lawyers Present Paper on Damages
Over the past 25 years, damage calculations in securities class actions have become increasingly complex. The Supreme Court’s 2005 decision in the Dura Pharmaceuticals case further complicated the issue, adding to the burdens placed upon plaintiffs.
Berman DeValerio Negotiates $750 Million Settlement
with Xerox and KPMG LLP
Defendants in Carlson v Xerox Corp. have recently agreed in principle to pay $750 million to settle claims that Xerox, certain top officers and its auditor KPMG LLP violated federal securities laws. Berman DeValerio represents the Louisiana State Employees' Retirement System, one of three co-lead plaintiffs in the class action.
Oklahoma Funds Named Lead Plaintiffs in American Home Mortgage Case
Two Oklahoma retirement systems have been named co-lead plaintiffs in a consolidated class action accusing American Home Mortgage ("American Home") of violating federal securities laws. In their joint motion, the Teachers' Retirement System of Oklahoma and the Oklahoma Police Pension and Retirement System claim more than $3.5 million in losses as a result of the alleged fraud. Berman DeValerio was appointed one of two co-lead counsel.
Investors Reach $65 Million Settlement With KLA-Tencor Corporation
KLA-Tencor Corporation ("KLA-Tencor" or the "Company") (NASDAQ: KLAC) has agreed in principle to pay $65 million to settle a shareholder lawsuit alleging the Company illegally backdated stock option grants.
Berman DeValerio Files Suit Against State Street
Berman DeValerio recently filed a class action against State Street Bank and Trust, Co. and State Street Global Advisors, Inc. ("State Street"), accusing the financial service giant of breaching its fiduciary duties in violation of the Employee Retirement Income Security Act ("ERISA").
O, Magnum Mysterium: Tellabs Complaint Upheld On Remand
The 7th Circuit announced that it has applied the Supremes' new Tellabs standard for review of securities fraud allegations, and resoundingly affirmed plaintiffs' complaint.
Class Action Filings Hit New Highs
It seems the reports of securities class action deaths were greatly exaggerated.
El Paso Defendants Agree to Settle Shareholder Claims for $285 million
Defendants in El Paso Securities Litigation have agreed in principle to pay $285 million to settle securities fraud claims that the company and its top officers deceived investors through misleading financial statements.
Oracle Settlement Approved
FAQs regarding the Oracle derivative litigation
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Major investment banks, like UBS, Goldman Sachs and Merrill Lynch, have reported approx. $130 billion in subprime related losses.
-- PwC's Securities Litigation Study, April 2008
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See what the media says about us — and what our lawyers say about fraud.
Silicon Valley Newspaper Quotes California Partner
San Francisco Partner Joseph J. Tabacco Jr. told The Mercury News of San Jose that apparently falsified documents found at Apple could be the "smoking gun" in the stock options backdating case against the computer giant.
National Law Journal Quotes Pease
A Berman DeValerio partner told The National Law Journal that a recent appeals court ruling may make it easier to hold corporate law firms liable if they knew their clients were improperly backdating executive stock options.
Litigation News Quotes Firm Partner
San Francisco Partner Joseph Tabacco was recently quoted in the July issue of Litigation News, a publication circulated monthly by the American Bar Association.
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