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Lieff, Cabraser, Heimann & Bernstein, LLP Announces Class Action
Court Watch |
2011/10/17 17:09
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The law firm of Lieff, Cabraser, Heimann & Bernstein, LLP is investigating potential securities law violations as alleged in a securities class action lawsuit filed on behalf of purchasers of the common stock of Imperial Holdings, Inc. pursuant and/or traceable to the Company’s initial public offering on or about February 7, 2011 through September 27, 2011, inclusive.
Imperial Holdings shareholders, or individuals with information relating to this investigation, who wish to learn more about the action should click here or contact Sharon M. Lee of Lieff Cabraser toll free at (800) 541-7358.
Background on the Imperial Holdings Securities Class Litigation
The action is brought against Imperial Holdings, certain of its officers and directors, and the underwriters of the IPO for violations of the Securities Act of 1933. Imperial Holdings is a specialty finance company that focuses on providing premium financing for individual life insurance policies.
The action alleges that the Company’s registration statement and prospectus for the IPO, filed with the Securities and Exchange Commission, were materially false and misleading because they failed to disclose that Imperial Holdings had engaged in wrongdoing with respect to its life insurance finance business that would expose the Company and certain of its employees to government investigations.
On September 27, 2011, Imperial Holdings announced that federal investigators had served the Company with a search warrant and that it and certain of its employees, including its Chairman and Chief Executive Officer and its President and Chief Operating Officer, were under investigation in connection with the Company’s life insurance business. In response to this announcement and news of the raid on the Company's headquarters, the price of Imperial Holdings stock declined from $6.30 per share to close at $2.19 per share on September 28, 2011, on extremely heavy trading volume.
About Lieff Cabraser
Lieff, Cabraser, Heimann & Bernstein, LLP, with offices in San Francisco, New York and Nashville, is a nationally recognized law firm committed to advancing the rights of investors and promoting corporate responsibility. Since 2003, the National Law Journal has selected Lieff Cabraser as one of the top plaintiffs’ law firms in the nation. In compiling the list, the National Law Journal examined recent verdicts and settlements in addition to overall track records. Lieff Cabraser is one of only two plaintiffs’ law firms in the United States to receive this honor for the last nine consecutive years. For more information about Lieff Cabraser and the firm’s representation of investors, please visit http://www.lieffcabraser.com. |
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Court won't hear NH presidential ballot question
Court Watch |
2011/10/11 16:48
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The Supreme Court won't hear an appeal from the Libertarian Party over whether New Hampshire officials should have let 2008 Libertarian candidate Bob Barr be the party's sole candidate on the presidential ballot.
The high court on Tuesday refused to hear an appeal from the party, which wanted Barr as the only candidate carrying its brand on the 2008 ballot.
A second candidate, George Phillies, also petitioned his way onto the New Hampshire ballot under the Libertarian banner. Barr and the party sued, saying Barr should have been the only Libertarian candidate on that ballot.
But the federal courts threw out the party's claim that Phillies' affiliation should have been removed because the national party didn't want his name on the ballot. |
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Hogan to be new courts administrative officer
Court Watch |
2011/10/06 16:40
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Senior U.S. District Judge Thomas Hogan is the new director of the Administrative Office of the U.S. Courts.
Hogan, a former chief U.S. District Court judge in Washington, will serve a one-year term as the chief administrative officer for the federal court system. He will oversee the federal judiciary's 35,000 employees and its almost $7 billion annual budget.
The Judicial Conference of the United States is the principal policymaking body for the federal court system. As its presiding officer, Chief Justice John Roberts selected Hogan for the position.
Hogan will begin Oct. 17. He plans to resume work as a senior federal judge after his term ends.
The previous director, James Duff, left this summer to become president of the Freedom Forum. |
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Swiss sports court overturns Olympic doping rule
Court Watch |
2011/10/05 16:39
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Olympic champion LaShawn Merritt was cleared to defend his 400-meter title in London next year after the American won his appeal Thursday against an IOC rule banning doping offenders from the games.
The Court of Arbitration for Sport annulled the International Olympic Committee rule that bars any athlete who has received a doping suspension of more than six months from competing in the next summer or winter games.
The three-man CAS panel said the rule, adopted in 2008, was "invalid and unenforceable" because it amounted to a second sanction and did not comply with the World Anti-Doping Agency code. It said the rule amounted to a "disciplinary sanction" rather than a matter of eligibility.
Merritt, the American 400-meter gold medalist in Beijing, had been ineligible under the IOC rule to compete in London even though he completed his doping ban this year after testing positive for a banned substance found in a male-enhancement product. |
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