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Izard Nobel LLP Announces Class Action Lawsuit
Class Action News |
2012/01/04 07:23
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The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Southern District of New York on behalf of purchasers of the American Depositary Shares of Veolia Environnement S.A. between April 27, 2007 and August 4, 2011, inclusive.
The Complaint charges Veolia and certain of its officers and directors violated the federal securities laws. Specifically, defendants failed to disclose the following adverse facts: (i) that Veolia was materially overstating its financial results by engaging in improper accounting practices; (ii) Veolia lacked adequate internal controls; and (iii) Veolia failed to timely record an impairment charge for its Transport business in Morocco, Environmental Services businesses in Egypt, Marine Services business in the U.S., and for Southern Europe.
On August 4, 2011, Veolia announced its half year results, for the period ended June 30, 2011. The Company reported consolidated revenue of EUR 16,286.7 million and operating income of EUR 252.2 million, compared to EUR 1100.7 million in the prior year period, due to "non-recurring write-downs amounting to EUR 686M." Veolia stated that it would exit certain businesses and certain geographies, including its Transport business in Morocco, Environmental Services businesses in Egypt, Marine Services business in the U.S. and in Southern Europe. On this news, Veolia ADSs fell $4.66 per share.
If you are a member of the class, you may, no later than February 27, 2012, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.
While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, and your rights, visit: www.izardnobel.com/veolia |
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US judge tosses $322M asbestos lawsuit verdict
Headline News |
2012/01/04 04:24
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A Mississippi judge has thrown out a $322 million lawsuit verdict that had been hailed as the largest asbestos award for a single plaintiff in U.S. history.
The case began to unravel last year after defense lawyers asked the Mississippi Supreme Court to remove the presiding judge because he allegedly neglected to disclose that his parents had been involved in similar asbestos litigation against one of the same companies. A specially appointed judge, William Coleman, issued an order vacating the verdict and award on Dec. 27.
The case from Smith County, Mississippi, involved a lawsuit filed by Thomas Brown, who claimed he had inhaled asbestos dust while mixing drilling mud sold and manufactured by Chevron Phillips Chemical Co. and Union Carbide Corporation. |
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LA arson suspect cursed US days before fires
Criminal Law Updates |
2012/01/03 21:23
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Harry Burkhart watched as his mother was arrested last week on fraud charges from their native Germany, and a day later he exploded in an expletive-laced rant against the U.S. at her court hearing.
That's when, authorities believe, Burkhart, angry over his mother's legal troubles, went on a nighttime rampage of arson attacks starting Friday that terrorized Los Angeles and caused $3 million in damage.
Court documents unsealed Tuesday said Dorothee Burkhart, who is in her 50s, was charged with 19 counts of fraud in Frankfurt, including failing to pay for a 2004 breast-augmentation surgery and pilfering security deposits from renters.
In a brief court appearance, she appeared perplexed, wondering aloud if her son had disappeared or was dead. At one point, she said, he is mentally ill and questioned whether Nazis knew where she and her son lived. |
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Chief justice defends court's impartiality
U.S. Legal News |
2012/01/02 17:50
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Chief Justice John Roberts said Saturday that he has "complete confidence" in his colleagues' ability to step away from cases where their personal interests are at stake, and noted that judges should not be swayed by "partisan demands."
The comment, included in Roberts' year-end report, comes after lawmakers demanded that two Justices recuse themselves from the high court's review of President Barack Obama's health care law aimed at extending coverage to more than 30 million people. Republicans want Justice Elena Kagan off the case because of her work in the Obama administration as solicitor general, whereas Democrats say Justice Clarence Thomas should back away because of his wife's work with groups that opposed changes to the law.
While not mentioning the upcoming health care ruling, or any case in particular, Roberts' year-end report dismissed suggestions that Supreme Court Justices are subject to more lax ethical standards than lower federal courts and said each Justice is "deeply committed" to preserving the Court's role as "an impartial tribunal" governed by law.
"I have complete confidence in the capability of my colleagues to determine when recusal is warranted," wrote Roberts. "They are jurists of exceptional integrity and experience whose character and fitness have been examined through a rigorous appointment and confirmation process. I know that they each give careful consideration to any recusal questions that arise in the course of their judicial duties." |
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High court to hear environmental case from Idaho
Lawyer Blog News |
2012/01/02 17:48
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Mike Sackett remembers what he thought when he saw the eye-popping fines of more than $30,000 a day that the Environmental Protection Agency was threatening to impose on him over a piece of Idaho property worth less than one day's penalty.
"If they do this to us, we're going to lose everything we have," Sackett said.
The EPA said that Sackett and his wife, Chantell, illegally filled in most of their 0.63-acre lot with dirt and rocks in preparation for building a home. The agency said the property is a wetlands that cannot be disturbed without a permit. The Sacketts had none.
They say they considered walking away from the property, near scenic Priest Lake, and a difficult fight with the federal government. Instead, they went to court and now the Supreme Court is hearing their case, with implications well beyond their property.
The justices are considering how and when people can challenge the kind of order the Sacketts got. The EPA issues nearly 3,000 administrative compliance orders a year that call on alleged violators of environmental laws to stop what they're doing and repair the harm they've caused.
Major business groups, homebuilders, road builders and agricultural interests all have joined the Sacketts in urging the court to make it easier to contest EPA compliance orders issued under several environmental laws. |
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DA asks Wis. Supreme Court to reopen union lawsuit
Court Feed News |
2012/01/02 13:48
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A prosecutor asked the Wisconsin Supreme Court on Friday to reopen his lawsuit challenging Gov. Scott Walker's contentious collective bargaining law, contending a justice who voted to dismiss the suit earlier this year got free legal help from the firm defending the law.
Dane County District Attorney Ismael Ozanne argued in filings with the court that it should vacate its decision because Justice Michael Gableman never disclosed his arrangement with the Michael Best and Friedrich law firm. Wisconsin's ethics code prohibits state officials from accepting free gifts, and the judicial ethics code bars judges from accepting gifts from anyone likely to appear before them.
Ozanne asked the court to reinstate a circuit judge's earlier ruling declaring the law void and disqualify Gableman from participating in further proceedings if he won't recuse himself.
Gableman's attorney, Viet Dinh, didn't immediately return a message late Friday afternoon. He told the Milwaukee Journal Sentinel this week that he doesn't believe the free legal services amounted to a gift. A message left at Michael Best and Friedrich's Madison office wasn't immediately returned. |
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