Faruqi & Faruqi LLP - newshttp://www.faruqilaw.com/newsFaruqi & Faruqi LLP - newsFaruqi & Faruqi, LLP is certified by New York State‚Äôs Empire State Development as a Women Business Enterprise (WBE)http://www.faruqilaw.com/news/show/id/99 Faruqi & Faruqi, LLP is certified by New York State’s Empire State Development as a Women Business Enterprise (WBE)

Faruqi & Faruqi, LLP is a NYS certified Women’s Business Enterprise approved by the Empire State Development Division of Minority and Women’s Business Development (DMWBD). WBE certification validates that a business is at least 51 percent owned, controlled, operated, and managed by a woman or women. As a certified women-owned business enterprise, Regional Distributors is proud to promote equality of economic opportunities, eliminate barriers to minority and women participation in state contracts, and support New York State’s economy with increased access to opportunities for minority and woman-owned businesses.

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Mon, 31 Mar 2014 00:00:00Sami Ahmad
Faruqi & Faruqi, LLP Announces Preliminary Court Approval of Settlement in Mylan Pharmaceuticals, Inc., et al. v. Warner Chilcott Public Limited Co., et al.http://www.faruqilaw.com/news/show/id/96 Faruqi & Faruqi, LLP Announces Preliminary Court Approval of Settlement in Mylan Pharmaceuticals, Inc., et al. v. Warner Chilcott Public Limited Co., et al.

Faruqi & Faruqi LLP is pleased to announce the Court’s preliminary approval of a settlement in Mylan Pharmaceuticals, Inc., et al. v. Warner Chilcott Public Limited Co., et al., Civ. No. 12-3824 (E.D.Pa.) (the “Settlement”). This case involves claims that Defendants violated the antitrust laws relating to the sale of prescription pharmaceutical Doryx® to direct purchasers such as wholesalers. The Settlement provides for $15,000,000 in cash to be paid to the direct purchaser class members, who are defined in the Settlement as entities that purchased Doryx® directly from  any of the Defendants at any time between July 18, 2008 and December 31, 2013.  A final approval hearing on the Settlement will be held on June 9, 2014 at 10:00 a.m. before U.S. District Court Judge Paul S. Diamond in Courtroom 6B at the United States District Court for the Eastern District of Pennsylvania, 601 Market Street, Philadelphia, PA 19106. Notice is being mailed to class members on March 4, 2014 and class members shall have until April 3, 2014 to object/opt-out of the Settlement. Information about the Settlement will be posted here on  www.faruqilaw.com. Below are the Class Notice, the Settlement Agreement,  the Court’s  February 18, 2014 Order preliminarily approving the Settlement, the Consolidated Amended Complaint filed on August 13, 2013 and Plaintiffs’ motion for preliminary approval of the Settlement and Plaintiffs’ motion for attorneys’ fees, reimbursement of expenses and incentive awards to the class representatives.

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Tue, 4 Mar 2014 00:00:00Sami Ahmad
Faruqi & Faruqi is Proud to Co-Sponsor the 7th Annual NY Statewide MWDBE Networking Reception.http://www.faruqilaw.com/news/show/id/95 Faruqi & Faruqi is Proud to Co-Sponsor the 7th Annual NY Statewide MWDBE Networking Reception.

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Thu, 20 Feb 2014 00:00:00Sami Ahmad
Faruqi & Faruqi, LLP Announces Preliminary Court Approval of Settlement in In re Ebix, Inc., Securities Litigationhttp://www.faruqilaw.com/news/show/id/93 Faruqi & Faruqi, LLP Announces Preliminary Court Approval of Settlement in In re Ebix, Inc., Securities Litigation

(NasdaqGS: EBIX)

Faruqi & Faruqi LLP is pleased to announce the Court’s preliminary approval of a settlement in In re Ebix, Inc. Securities Litigation, Master File No. 1:11-CV-02400-RWS (N.D. Ga.).  The settlement provides for $6,500,000 in cash to be paid to class members who purchased or otherwise acquired Ebix common stock between May 6, 2009 and June 30, 2011.  A final approval hearing on the settlement will be held on June 5, 2014 at 10:00 a.m., at the United States District Court for the Northern District of Georgia.  Notice will be provided to class members in the upcoming weeks, and information about the settlement will also be posted on www.EBIXSecuritiesLitigation.com.  In the meantime, a copy of the Court’s order preliminarily approving the settlement can be found at the link below.

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Tue, 4 Feb 2014 00:00:00Sami Ahmad
Faruqi & Faruqi, LLP Obtains Significant Victories On Behalf Of Defrauded Investors In Longwei Petroleum http://www.faruqilaw.com/news/show/id/92 Faruqi & Faruqi, LLP Obtains Significant Victories On Behalf Of Defrauded Investors In Longwei Petroleum

On January 27, 2014, United States District Judge Harold Baer, Jr. denied motions to dismiss filed by Longwei’s Chief Financial Officer Michael Toups, directors Douglas Cole and Gerald Deciccio, and Longwei’s auditors Child, Von Wagoner & Bradshaw PLLC and Anderson Bradshaw, PLLC.  The Court sustained claims that the defendants violated the federal securities laws by making materially false and misleading statements and omissions regarding Longwei’s reported revenues, business, and operations.  Most significantly, Judge Baer held that the claims against Longwei’s auditors surpassed the stringent pleading standards imposed by the Private Securities Litigation Reform Act, explaining, “Plaintiffs successfully allege the scienter of the auditors by pleading a combination of ‘red flags’ that should have raised the auditors’ suspicion, the enormous scale of the fraud, the auditors’ failure to follow generally accepted auditing standards (GAAS), and the fact that they had been rebuked for audit deficiencies in the past by the Public Company Accounting Oversight Board[.]”  Judge Baer previously entered default judgments finding defendants Dora Dong and Longwei liable for securities fraud, and Plaintiffs are seeking similar judgments against two additional defendants Cai Yongjun and Xue Yongping.

The Court’s Opinion is attached.

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Mon, 27 Jan 2014 00:00:00Sami Ahmad
Faruqi & Faruqi, LLP Appointed Sole Lead Counsel in L & L Energy, Inc. Class Action Lawsuithttp://www.faruqilaw.com/news/show/id/91 Faruqi & Faruqi, LLP Appointed Sole Lead Counsel in L & L Energy, Inc. Class Action Lawsuit

On December 23, 2013, Faruqi & Faruqi, LLP, a leading national securities law firm, was appointed sole lead counsel in Buker v. L&L Energy, Inc., a class action alleging securities fraud at L & L Energy, Inc. (“L & L Energy” or the “Company”) (NasdaqGS: LLEN).
A complaint has been filed on behalf of all persons who purchased or otherwise acquired L & L Energy securities between September 11, 2012 and September 18, 2013 (the “Class Period”) in the Southern District of New York.

The action focuses on whether the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and financial performance.

Specifically, the action focuses on whether L & L Energy made false and/or misleading statements and/or failed to disclose that: (i) the Company claimed acquisitions and divestitures of various properties through fraudulent swap transactions; (ii) the Company improperly accounted for a substantial amount of revenue from operations that had previously been closed; and (iii) the Company did not have adequate internal and financial controls throughout the Class Period.

On September 19, 2013, the SeekingAlpha website published a report by GeoInvesting, a company that provides research and analysis on U.S.-listed Chinese companies. The report claimed that L & L Energy defrauded investors and disclosed that GeoInvesting is planning to file a whistleblower report with the NASDAQ and the SEC informing them of these findings.

On this news, L & L Energy’s stock plummeted more than 38% to close at $1.27 per share on September 19, 2013.
 

Take Action

If you purchased L & L Energy stock or options between August 3, 2011 and September 18, 2013 and would like to discuss your legal rights, you can contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com or fmcconville@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding L & L Energy’s conduct to contact the firm, including whistleblowers, former employees, shareholders, and others.

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Mon, 23 Dec 2013 00:00:00Sami Ahmad
Faruqi & Faruqi, LLP Appointed Sole Lead Counsel in Dynavax Technologies Corporation http://www.faruqilaw.com/news/show/id/90 Faruqi & Faruqi, LLP Appointed Sole Lead Counsel in Dynavax Technologies Corporation

On September 27, 2013, Faruqi & Faruqi, LLP, a leading national securities law firm, was appointed sole lead counsel in In re Dynavax Technologies Corporation Securities Litigation, No. CV 13-2796 (CRB) (N.D. Cal.).

The action alleges that Dynavax Technologies Corporation (“Dynavax” or the “Company”) (NASDAQ: DVAX) made materially false and misleading statements regarding the viability of HEPLISAV, the Company’s lead product candidate.

Specifically, the action focuses on whether Dynavax failed to disclose: (i) that the clinical trial for HEPLISAV was flawed in that it was not representative of the United States population and did not provide information regarding concurrent use of HEPLISAV with other vaccines; and (ii) the Company did not provide the Food and Drug Administration (“FDA”) with adequate information regarding HEPLISAV manufacturing processes and controls.

On June 10, 2013, Dynavax issued a press release announcing that the FDA would require additional safety trials prior to granting approval of HEPLISAV. Following this news, Dynavax’s stock price dropped $1.07 or 43%.
Take Action

If you invested in Dynavax stock or options between April 26, 2012 and June 10, 2013 and would like to discuss your legal rights, you can contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com or fmcconville@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Dynavax’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

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Fri, 27 Sep 2013 00:00:00Sami Ahmad
Faruqi & Faruqi, LLP Partner Juan E. Monteverde Is Selected By Super Lawyers as a 2013 New York Metro Rising Star http://www.faruqilaw.com/news/show/id/88 Faruqi & Faruqi, LLP Partner Juan E. Monteverde Is Selected By Super Lawyers as a 2013 New York Metro Rising Star

Mr. Monteverde is a leading advocate for shareholder rights, having broken new ground in the area of proxy challenges related to executive compensation.

Faruqi & Faruqi, LLP, is pleased to announce that one of its partners, Juan E. Monteverde, has been selected by Super Lawyers as a 2013 New York Metro Rising. This news will appear next month in The New York Times and in the New York Metro Super Lawyers Magazine.

As chair of Faruqi and Faruqi’s Shareholder, Merger and Transactional Litigation Department, Monteverde regularly litigates high-profile merger cases in which he has recovered millions of dollars for shareholders and has improved merger terms.  He is also a leading advocate for shareholder rights, having broken new ground in the area of proxy challenges related to executive compensation. Monteverde has written numerous articles regarding executive compensation and speaks regularly at the ABA, PLI, and other conferences regarding merger litigation or executive compensation issues.

Juan's Super Lawyers profile can be viewed here:

http://www.superlawyers.com/new-york-metro/lawyer/Juan-E-Monteverde/b861d99b-d20f-4376-92c4-2996390bacbc.html

Established in 1998, Super Lawyers asks lawyers to nominate the best attorneys who are 40 or under, or who have been practicing for 10 years or less. They are instructed to nominate lawyers they have personally observed in action — whether as opposing counsel or co-counsel, or through other firsthand courtroom observation.

 

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Wed, 18 Sep 2013 00:00:00Sami Ahmad
Notice of Proposed Settlement of Class Action - Copano Energy, L.L.C.http://www.faruqilaw.com/news/show/id/87 In Re Copano Energy, L.L.C. Shareholder Litigation

CONSOLIDATED C.A. No. 8284-VCN

Notice of Proposed Settlement of Class Action, Settlement Hearing, and Right to Appear

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Mon, 1 Jul 2013 00:00:00Sami Ahmad
Mr. Monteverde is Featured to Speak at the 21st Annual NASPP Conference in Washington, D.C.http://www.faruqilaw.com/news/show/id/86 On September 25, 2013, Mr. Monteverde will be a featured plaintiff’s lawyer at the 21st Annual National Association of Stock Plan Professionals (NASPP) Conference, where he will discuss proxy stock plan disclosures with other leading experts in the field.

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Tue, 4 Jun 2013 00:00:00Juan E. Monteverde