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Girard Gibbs Investigates Possible Violation of Diebold, Inc.
Law Firm Press |
2008/03/10 07:28
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| The law firm of Girard Gibbs LLP (a href=http://www.girardgibbs.com/ target=_blank shape=rectfont color=#000066http://www.girardgibbs.com/font/a) announces that it is investigating alleged violations of fiduciary duties by the board of directors of Diebold, Inc. (NYSE:DBD) (span id=bwanpa0“/spanDieboldspan id=bwanpa1”/span) relating to a buyout offer by United Technologies Corp. (NYSE:UTX) (span id=bwanpa2“/spanUnited Technologiesspan id=bwanpa3”/span). pIt is alleged that Dieboldspan id=bwanpa4’/spans directors are violating their fiduciary duties of due care, good faith and loyalty by rejecting without discussion an acquisition offer at a substantial premium by United Technologies, to the detriment of Diebold and its shareholders. Despite the potential to enhance shareholder value beyond that which Diebold can offer as an independent corporation, the board of directors has refused to negotiate with United Technologies. /ppOn March 3, 2008, United Technologies went public with an offer to buy Diebold for $2.63 billion, or $40 a share. This represented a 66% premium to Dieboldspan id=bwanpa5’/spans February 29, 2008 share price of $24.12. United Technologies has stated, in a press release, that if the Diebold board begins merger discussions, it is open to raising the offer price. On the same day, Dieboldspan id=bwanpa6’/spans board categorically rejected the offer and refused further negotiation. /ppIf you own stock in Diebold and you wish to discuss your rights as an investor, please visit our website, a href=http://www.girardgibbs.com/bkr.html target=_blank shape=rectfont color=#000066http://www.girardgibbs.com/dbd.html/font/a, or contact Jonathan K. Levine, Esq. (a href=mailto:jkl@girardgibbs.com target=_blank shape=rectfont color=#000066jkl@girardgibbs.com/font/a) or Aaron M. Sheanin, Esq. (a href=mailto:ams@girardgibbs.com target=_blank shape=rectfont color=#000066ams@girardgibbs.com/font/a) toll free at (866) 981-4800. /p |
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Nixon Peabody taps ex-Choate partner
Law Firm Press |
2008/03/07 11:31
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| pBoston Law firm Nixon Peabody LLP has hired William Tripp as counsel in the firm's private client practice, the firm said on Friday. /ppTripp, who has been a trusts and estates lawyer for more than 35 years, joins Boston-based Nixon Peabody from crosstown law firm Choate Hall amp; Stewart LLP, where he was a partner. /ppBill brings years of experience to our firm regarding the management and financial oversight of hundreds of millions of dollars in trusts assets, said Jack Fitzgerald, leader of the firm's private clients practice, in a statement. /p |
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Glancy Binkow Goldberg LLP Announcement
Law Firm Press |
2008/03/07 11:29
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| Glancy Binkow amp; Goldberg LLP -- representing shareholders of SunOpta Inc. -- announces 21 days remaining to move to be a lead plaintiff in the shareholder lawsuit. All persons and institutions who purchased or otherwise acquired the common stock of SunOpta Inc. (SunOpta or the Company) (Nasdaq:STKL) between August 8, 2007 and January 25, 2008, inclusive (the Class Period), may move the Court not later than March 28, 2008, to serve as lead plaintiff; however, you must meet certain legal requirements. table align=right border=0tbodytr/tr/tbody/tablepIf you wish to receive a copy of the Complaint, or have any questions concerning your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow amp; Goldberg LLP, 1801 Avenue of the Stars, Suite 311, Los Angeles, California 90067, by telephone at (310) 201-9150, Toll Free at (888) 773-9224, or e-mail to info@glancylaw.com, or visit our website at a href=http://www.primenewswire.com/newsroom/ctr?d=137815amp;u=http://www.glancylaw.com target=_topwww.glancylaw.com/a. /ppThe Complaint charges SunOpta and certain of the Company's executive officers with violations of federal securities laws. Among other things, Plaintiff claims that Defendants' material omissions and dissemination of materially false and misleading statements concerning the Company's business and financial performance caused SunOpta's stock price to become artificially inflated, inflicting damages on investors. SunOpta primarily operates as a producer and processor of natural and organic foods in the United States and Canada. The Complaint alleges that throughout the Class Period defendants failed to disclose, among other things, that the Company was experiencing problems with its internal controls and inventory. /ppOn January 24, 2008, following the close of trading, defendants shocked investors when they published a press release that revealed, for the first time, that the Company was performing well below expectations and that defendants expected to cause the Company to take a material restatement charge in the near term -- rendering its prior reported financial statements and reports unreliable, false and materially misleading. The Company said it expected to post a profit of 12 cents to 14 cents per share for the year, citing issues within its fruit and BioProcess groups that led to pretax write-downs and provisions of $12 million to $14 million. Among problems the Company cited were inventories within the Company's Fruit Group's berry operations requiring a write-down to net realizable value, whereby preliminary estimates indicated that an adjustment in the range of $9 to $11 million for this issue and related items is necessary. The Company disclosed a charge of approximately $3 million pre-tax, related to difficulties in collecting for services and equipment provided to a customer under the terms of an existing equipment supply contract within the SunOpta BioProcess Group. /ppAfter SunOpta drastically lowered its fiscal 2007 profit forecast and announced that financial restatements are likely, shares of SunOpta plunged to a low of $6.05 on January 25, 2008. /ppPlaintiff seeks to recover damages on behalf of Class members and is represented by Glancy Binkow amp; Goldberg LLP, a law firm with significant experience in prosecuting shareholder lawsuits, and substantial expertise in actions involving corporate fraud. /ppIf you are a member of the Class described above, you may move the Court, not later than March 28, 2008, to serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow amp; Goldberg LLP, 1801 Avenue of the Stars, Suite 311, Los Angeles, California 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224 or by e-mail to info@glancylaw.com. /ppMore information on this and other class actions can be found on the Class Action Newsline at a href=http://www.primenewswire.com/newsroom/ctr?d=137815amp;u=http://www.primenewswire.com/ca target=_topwww.primenewswire.com/ca/a. /p |
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Law Firm Sponsors Contest To Combat Underage Drinking
Law Firm Press |
2008/03/07 02:02
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| pThe McDivitt Law Firm and My PSA Contest are asking high school students to create unique and compelling public service announcements that encourage fellow teens to abstain from the dangers of underage drinking and driving./ppAlcohol related crashes are the second leading cause of teen death and children who begin drinking by age 13 have a 38 percent higher risk of developing alcohol dependence later in life./ppMcDivitt Law Firm hopes that, through this PSA contest, the messages created by teens specifically for their peers might prove to be one method for helping to prevent the tragedy and devastation, which are too often the result when teenagers drink and drive./ppThe contest is open to high school students in Colorado Springs, Pueblo and surrounding areas. Students are being asked to produce 28 to 29 second video PSA's. The PSA's will be judged on students' abilities to analyze and discuss the topic and produce a quality video. The winner will receive a laptop computer and the school the student attends will receive a monetary donation. The winning PSA will also be aired on TV./p |
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