Class Action

Finkelstein Thompson LLP Investigates China Shenghuo Pharmaceutical Holdings, Inc.

Posted on September 09, 2008
On August 20, 2008, China Shenghuo Pharmaceutical Holdings, Inc. (AMEX: KUN) (the ?Company?) announced it would be restating its financial statements for the fiscal periods ended June 30, September 30, and December 30, 2007 and fiscal quarter ended March 31, 2008...

Business Week Publishes Investigative Report on the National Arbitration Forum

Posted on June 16, 2008
According to a recent report, “Banks vs. Consumers (Guess Who Wins),” published by Business Week, consumers often enter into credit card agreements with banks that require them to resolve their disputes about their credit card accounts in arbitration...

Legislators Urge Investigation of Oil Company Record-Breaking Profits

Posted on June 15, 2008
According to a recent news report, U.S. Senator Dick Durbin, D-Ill., is urging the investigation of oil companies for price-gouging. Durbin said that while while there may be several reasons for price increases, ?there?s one thing we can say with certainty: As the price of fuel has gone up, oil company profits have reached [...

S.E.C. to Investigate AIG

Posted on June 14, 2008
According to the N.Y. Times, the U.S. Securities and Exchange Commission (SEC) is investigating whether American International Group, Inc. (AIG), a prominent insurance and financial services organization, overstated the value of contracts linked to subprime mortgages...

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Consumer Groups Support Bi-Partisan Probe Into Targeted Behavioral Advertising

Posted on June 13, 2008
According to Broadband Reports consumer groups want Charter Communications and NebuAd investigated for a plan to target Charter?s customers with behavioral advertising. On June 6, 2008 a group of fifteen consumer advocacy organizations sent a letter of support to the ranking members of the House Telecommunications Subcommittee, Edward Markey (D-MA) and Joe Braton (R-TX), who are [...

Brocade Settles Shareholder Lawsuit for $160 Million

Posted on June 13, 2008
The Associated Press reports that Brocade Communications Systems Inc. has agreed to pay $160 million to settle a class action lawsuit alleging the company harmed investors by backdating stock options. The lawsuit, which was filed by the Arkansas Public Employees Retirement System, alleged that Brocade manipulated the dates and stock prices on options awards to boost [...

TransUnion to Offer Free Credit Services in Proposed Class Settlement

Posted on June 12, 2008
In one of the most expansive proposed classes ever, more than 150 million Americans could receive free credit score reports and credit monitoring services as part of a proposed settlement recently announced by TransUnion. The complaint, currently pending in the Northern District of Illinois, stems from conduct dating to 1987 and contains allegations that [...

Toy Cell Phone Recall

Posted on June 12, 2008
The U.S. Consumer Product Safety Commission (”CPSC”) has issued a recall for Little Tikes Chit ?N Chat Toy Cell Phones, manufactured by Kids Station Toys International Ltd.  The Toy Cell Phones pose a choking hazard to children. The toys resemble a flip-phone style cell phone and has a 10-key numeric button pad and three [...

JPMorgan Chase Completes Bear Stearns Acquisition

Posted on June 09, 2008
One of the most contested recent merger agreements was fully consumated on May 30, 2008.  At approximately 11:59 pm EST on this date, JPMorgan Chase announced that it had completed the acquisition of Bear Stearns.   The deal, initially proposed on March 17, 2008, marks the end of the alleged liquidity crisis experienced by Bear Stearns [...

Class Action Lawsuit Filed Against the NCAA and Ticketmaster

Posted on June 08, 2008
A nationwide class action lawsuit against the National Collegiate Athletics Association (?NCAA?) and Ticketmaster alleges that the two organizations failed to refund service charges to consumers. The suit alleges that consumers paid nonrefundable fees in an illegal lottery for tickets to the NCAA basketball tournament...

Class Claims Jewelry TV Sells Altered Gems

Posted on June 07, 2008
According to the Court House News Reporter, a class action complaint alleges that Jewelry Television is selling gemstones it falsely advertises as green or red andesine-labradorite, in violation of Federal Trade Commission guidelines for the jewelry and precious metals industry...

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