Faruqi & Faruqi LLP - newshttp://www.faruqilaw.com/newsFaruqi & Faruqi LLP - newsFaruqi & Faruqi, LLP Announces Final Approval Of Settlement In In re InContact Shareholder Litigationhttp://www.faruqilaw.com/news/show/id/177 Faruqi & Faruqi is pleased to announce that at the final fairness hearing held on July 18, 2017, the Court approved the class action settlement in In re InContact Shareholder Litig., Case No. 160903695. F&F, as co-lead counsel, obtained significant equitable relief for InContact shareholders through the dissemination of an amendment to the proxy statement with additional material information for shareholders to consider prior the shareholder vote on the merger of InContact with NICE-Systems, Ltd.

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Fri, 21 Jul 2017 00:00:00Alex Coviello
Faruqi & Faruqi, LLP, Lead Counsel, Obtains Final Court Approval Of $6.25 Million Settlement In In re Geron Corporation Securities Litigationhttp://www.faruqilaw.com/news/show/id/178 On July 21, 2017, the Honorable Charles R. Breyer, United States District Judge for the Northern District of California, granted final approval of the settlement reached in In re Geron Corp. Sec. Litig., No: 3:14-CV-01224-CRB, for which Faruqi & Faruqi, LLP served as sole Lead Counsel on behalf of the Class. The settlement provides for a cash payment of $6.25 million in exchange for plaintiffs’ release of all claims alleged in the action.  This is an excellent recovery for the Class and constitutes a material percentage of the likely provable damages suffered by the Class.

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Fri, 21 Jul 2017 00:00:00Raul Mondragon
F&F Opens Atlanta Officehttp://www.faruqilaw.com/news/show/id/175 Faruqi & Faruqi is pleased to announce the opening of its new Atlanta, Georgia office. The Atlanta Office will be headed by Bob Killorin, who is now a partner with the Firm.

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Thu, 20 Jul 2017 00:00:00Alex Coviello
Atlanta lawyer, Robert Killorin, joins F&F as Partnerhttp://www.faruqilaw.com/news/show/id/176 Robert (Bob) Killorin, an established Atlanta trial lawyer, is now a member of the Firm.  Bob will continue to litigate securities matters and consumer class actions nationwide. 

Congratulations and best wishes to Bob!

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Thu, 20 Jul 2017 00:00:00Alex Coviello
Faruqi & Faruqi, Co-Lead Counsel, Announces Final Approval of $51 Million Settlement on Behalf of Consumers in Foster, et al. v. L-3 Communications EOTech, Inc., et al.http://www.faruqilaw.com/news/show/id/174 The Honorable Brian C. Wimes, United States District Court for the Western District of Missouri, granted Final Approval of the Class Action Settlement in Foster, et al. v. L-3 Communications EOTech, Inc., et al., No. 15-cv-03519.  The Settlement represents a full refund for participating class members in exchange for the release of all claims alleged in the action.  Faruqi & Faruqi, as co-lead counsel, represents the Plaintiffs and a class of more than 80,000 similarly-situated consumers who purchased qualifying holographic weapon sights which were manufactured between January 1, 2005 and November 1, 2016, in a settlement valued at more than $51 million.  Nadeem Faruqi and Innessa Melamed Huot head the litigation on behalf of Faruqi & Faruqi.

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Fri, 7 Jul 2017 00:00:00Alex Coviello
Faruqi & Faruqi, LLP, Wins Appeal in Caraco M&A Litigationhttp://www.faruqilaw.com/news/show/id/173 Faruqi & Faruqi, as co-lead counsel, is pleased to announce that the Michigan Appeals Court reversed and remanded the trial court’s decision dismissing the complaint in In re Caraco Pharmaceutical Laboratories Shareholder Litigation. This is a great victory for plaintiffs considering that Michigan law sets a higher bar than Delaware law does for pleading a breach of fiduciary duty in the context of a merger and acquisition involving a controlling shareholder taking a company private. The Michigan Appeals Court decision is attached.

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Tue, 13 Jun 2017 00:00:00Raul Mondragon
Faruqi & Faruqi, LLP Announces Preliminary Approval Of Settlement In Rihn v. ACADIA Pharmaceuticals Inc.http://www.faruqilaw.com/news/show/id/172 Faruqi & Faruqi, LLP, sole lead counsel,  is pleased to announce that the Court has preliminarily approved a settlement in Rihn v. ACADIA Pharmaceuticals Inc., Case No.: 15-CV-00575-BTM-DHB.  The settlement provides for a cash payment of $2.925 million in exchange for the release of all claims alleged in the action.  As a result, notice will be sent to class members to advise them of their rights to participate in, object to, or seek exclusion from the settlement.  The final fairness hearing is scheduled for October 3, 2017.

If you purchased ACADIA common stock and/or call options between November 10, 2014 and March 11, 2015, both dates inclusive, and would like to discuss your legal rights, call Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or send an e-mail to rgonnello@faruqilaw.com.

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Mon, 12 Jun 2017 00:00:00Alex Coviello
In re Lidoderm Antitrust Litigation, No. 14-md-2521-WHO (N.D. Cal.)http://www.faruqilaw.com/news/show/id/171 Important information for direct purchasers of Lidoderm about class certification. Click here for more information.

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Mon, 8 May 2017 00:00:00Raul Mondragon
Faruqi & Faruqi Achieves Historic Settlement in In re The Home Depot, Inc. Shareholder Derivative Litigationhttp://www.faruqilaw.com/news/show/id/170 Faruqi & Faruqi, as co-lead counsel, achieved the first settlement ever in a data breach shareholder derivative lawsuit.  On April 21, 2017, Plaintiffs Cora Frohman and Mary Lou Bennek, on behalf of nominal defendant, The Home Depot (the “Home Depot” or the “Company”), reached an agreement-in-principle with the defendants named in the action, whereby Home Depot agreed to adopt and/or maintain various corporate governance reforms pertaining to data security.  The parties, with the assistance and input from renowned data security experts and representatives from Home Depot, including the Company’s Chief Information Security Officer, the Company’s Senior Director of Information Security and the Company’s Director of Information Security, worked together to reach an amicable conclusion to this action and devise state of the art corporate governance reforms intended to enhance the Company’s existing cybersecurity policies and procedures. The proposed settlement is subject to court approval.

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Tue, 2 May 2017 00:00:00Alex Coviello
Ninth Circuit Lowers the Pleading Bar for “Fake Sale” Caseshttp://www.faruqilaw.com/news/show/id/169 Earlier this week, the Ninth Circuit Court of Appeals reversed a lower court’s decision dismissing a “fake sale” suit for lack of specificity. The class action suit brought by a California consumer alleges that defendant Neiman Marcus engaged in deceptive conduct by selling products at its “Last Call Store” with artificial “Compared to” price tags, when those products were never offered for sale at any point in any traditional Neiman Marcus store. Instead, the products were manufactured strictly for sale at the Last Call Stores, according to the complaint. While the lower court had dismissed the case, reasoning that plaintiff had not provided “evidence that [defendant] advertised that its ‘Last Call’ stores sold merchandise previously for sale at the flagship stores.”  The Ninth Circuit disagreed, noting that “[w]ithout an opportunity to conduct any discovery, [plaintiff] cannot reasonably be expected to have detailed personal knowledge of Neiman Marcus's internal pricing policies.” The Ninth Circuit remanded the case, holding that plaintiff “need not specifically plead facts to which she cannot ‘reasonably be expected to have access.’”

The full decision can be found at:
https://cdn.ca9.uscourts.gov/datastore/memoranda/2017/04/18/15-55890.pdf

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Fri, 21 Apr 2017 00:00:00Alex Coviello