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The Rosen Law Firm Files Securities Fraud Class Action Against American Apparel, Inc.
Law Firm Press |
2010/09/06 07:23
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| p jquery1283869659187=48NEW YORK, Sep 7, 2010 (GlobeNewswire via COMTEX) -- The Rosen Law Firm, P.A. today announced that it has filed a class action lawsuit on behalf of purchasers of America Apparel, Inc. (American Apparel) span id=quote124732125 class=quotepeekbase bgQuote up jquery1283869659187=28span class=bgChannel/quotes/comstock/14*!app/spanspan class=bgRealtimeChannel/quotes/nls/app/span (span class=symbola title=American Apparel Inc href=/investing/stock/APPfont color=#004176 size=2APP/font/a/span strongspan class=data bgLast symbolfont size=21.07/font/span/strong, span class=data bgChange symbolfont color=#007c1d size=2+0.01/font/span, span class=data bgPercentChange symbolfont color=#007c1d size=2+0.94%/font/span) /spanstock during the period from December 20, 2006 to August 17, 2010 (the Class Period). /ppTo join the American Apparel class action, go to the website at a href=http://www.rosenlegal.comfont color=#004176http://www.rosenlegal.com/font/a or call Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653, or you may also email lrosen@rosenlegal.com or pkim@rosenlegal.com for information on the class action. /ppThe case is pending in the United States District Court for the Central District of California. You can obtain a copy of the complaint from the clerk of court or you may contact counsel for plaintiffs Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653 or email lrosen@rosenlegal.com or pkim@rosenlegal.com. /ppNO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER. /ppThe Complaint asserts that during the Class Period, defendants misrepresented American Apparel's hiring practices and the impact of such practices on the Company's business and financial performance. The Company's hiring practices were improper and beginning in July 2009, American Apparel revealed that it was being investigated by the U.S. Immigration and Customs Enforcement agency regarding the Company's compliance with U.S. immigration law. On August 17, 2010, the Company announced it expected to report a loss of $5 million to $7 million in the second quarter of 2010 on net sales of $132 million to $143 million. According to the announcement, a significant factor in such losses was lower labor efficiency at the Company's production facilities in the second quarter of 2010 compared to the prior year period. The lower labor efficiency was primarily a result of the hiring of over 1,600 net new manufacturing workers during the second quarter of 2010. As a result, the Complaint alleges that the price of American Apparel stock declined, damaging investors. /ppA class action lawsuit has already been filed on behalf of American Apparel shareholders. If you wish to serve as lead plaintiff, you must move the Court no later than October 25, 2010. If you wish to join the litigation or to discuss your rights or interests regarding this class action, please contact plaintiff's counsel, Laurence Rosen, Esq. or Phillip Kim, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at lrosen@rosenlegal.com or pkim@rosenlegal.com. /ppThe Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. /ppThis news release was distributed by GlobeNewswire, a href=http://www.globenewswire.comfont color=#004176www.globenewswire.com/font/a /p |
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Law firms may be forced to publish diversity figures
Legal Line News |
2010/09/05 07:28
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| pJustice may be blind, but the legal profession isn't, and from next year the public may get to see just what kind of people they are buying their legal services from./pp sizset=65 sizcache=0The a title= href=http://www.legalservicesboard.org.uk/font color=#005689Legal Services Board (LSB)/font/a, the body responsible for overseeing the regulation of lawyers in England and Wales, is mulling over a title= href=http://www.legalfutures.co.uk/latest-news/firms-and-chambers-face-obligation-to-publish-staff-diversity-and-class-data-from-next-yearfont color=#005689plans that would require law firms and chambers to compile and publish comprehensive diversity information about their staff/font/a . This would include the seven diversity strands – age, disability, gender, race, religion or belief, sexual orientation and working patterns – plus social mobility./ppThe work is the latest in a string of initiatives aimed at changing the profile of the profession. However, the headline statistics are pretty good. Women have made huge strides over the last 40 years and it will not be long before they make up the majority of solicitors, while black and minority ethnic (BME) lawyers are over-represented in the profession in proportion to the population as a whole./ppBut this only tells part of the story. The LSB notes that much of the work has focused, successfully, on entry level. For example, only a quarter of law firm partners are women, and a mere 3.5% of partners in the biggest 150 firms are BME. The anticipated 'trickle up' effect has not materialised, it says. There is also evidence of significant pay differentials, as well as concern that the impressive BME statistics mask significant under-representation for some groups, such as African-Caribbean men and Bangladeshi women./p |
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DOJ's elite Public Integrity unit gets new leader
Legal News |
2010/08/30 09:02
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| pThe Justice Department's Public Integrity Section has a storied 34-year history of pursuing corruption in government and safeguarding the public trust./ppThat trust was breached, however, when some of the unit's prosecutors failed to turn over evidence favorable to the defense in their high-profile criminal trial of Sen. Ted Stevens, R-Alaska, who died earlier this month in a plane crash./ppNow Jack Smith, a 41-year-old prosecutor with a love for courtroom work and an impressive record, has been brought in to restore the elite unit's credibility./ppBefore Stevens, Public Integrity's renown was built on large successes — like the prosecution of the Jack Abramoff lobbying scandal and convictions of federal and state judges, members of Congress and state legislators, military officers, federal lawmen and bureaucrats and their state counterparts over the years./ppBut its stumble — not disclosing exculpatory evidence as Supreme Court precedent requires — was equally large. It was so serious that Attorney General Eric Holder, one of Public Integrity's distinguished alums, stepped in and asked a federal judge to throw out Stevens' convictions./p |
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Thousands sign on for $10 billion BP suit
U.S. Court News |
2010/08/30 07:01
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| pThe revelation that BP's Texas City refinery emitted toxic benzene for more than a month has ignited a furor in the port community that has suffered its share of deadly industrial accidents and toxic spills./ppThousands of residents who fear they may have been exposed to the known carcinogen released at the oil refinery from April 6 to May 16 have been flooding parking lots and conference halls where local trial attorneys hosted information sessions and sought clients for class-action lawsuits against the oil giant./ppBP faces the new challenge just as it is reaching a key milestone in another crisis — plugging the Gulf of Mexico well that blew out in an oil spill disaster that is costing the company billions of dollars./ppOn Wednesday, more than 3,400 people lined the hallways and sidewalks around the Nessler Center to sign on to a $10 billion class-action lawsuit filed Tuesday in Galveston federal court by Friendswood attorney Anthony Buzbee. /ppThe lawsuit alleges the release of 500,000 pounds of chemicals - including 17,000 pounds of benzene - has jeopardized the health and property values of people who live and work in the area. At the nearby College of the Mainland, a separate town hall meeting drew a crowd of 600. /p |
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