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Class Action vs. Cutera, Inc. Handled by Schiffrin
Class Action News |
2007/05/08 19:15
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Notice is hereby given that a class action lawsuit was filed in the United States District Court for the Northern District of California on behalf of all common stock purchasers of Cutera, Inc. (NASDAQ: CUTR) ("Cutera" or the "Company") from January 31, 2007 to May 7, 2007, inclusive (the "Class Period"). 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 Schiffrin Barroway Topaz & Kessler, LLP (Darren J. Check, Esq. or Richard A. Maniskas, Esq.) toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at info@sbtklaw.com. The Complaint charges Cutera and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Cutera is a global medical device company specializing in the design, development, manufacture, marketing and servicing of laser and other light-based aesthetics systems for practitioners worldwide. More specifically, the Complaint alleges that the Company failed to disclose and misrepresented the following material adverse facts which were known to defendants or recklessly disregarded by them: (1) that the Company's sales force expansion, specifically with regard to the development of the junior sales program, was unsuccessful; (2) that the Company was experiencing unusually high employee turnover in its sales force; (3) that, as a result of the foregoing, the Company's sales force in North America was under-trained and ill-equipped to sell the Company's products in the marketplace; (4) as such, and contrary to earlier representations, the Company was not going to experience a 25 percent revenue growth and was going to experience a dreadful quarter of revenue generation; (5) that the Company lacked adequate internal and financial controls; and (6) that, as a result of the foregoing, the Company's financial and operational projections were lacking in a reasonable basis when made. Throughout the Class Period, the Company continued to issue press releases that highlighted positive news, although the Company failed to disclose any problems that it was experiencing. Therefore, investors were shocked on April 5, 2007, when the Company issued a press release stating that the Company expected revenue of only $23 million for the first quarter of 2007, significantly below the Company's earlier guidance of $26 million, provided months earlier. On the release of this news, shares of the Company's stock immediately declined $11.72 per share, or over 30.5 percent, to close on April 5, 2007 at $26.67 per share, on unusually heavy trading volume. The value of the Company's shares continued to decline over the following two trading days, eventually closing on April 10, 2007 at $24.85 per share. The cumulative effect of the Company's shocking news over this three day trading period was a total decline of $13.54 per share, or a loss of over 35 percent of their value. Then on May 7, 2007, the Company finally disclosed that its dismal operating and financial results for the quarter was primarily due to the unsuccessful implementation of a junior sales program and extremely high employee turnover in the Company's sales force. Upon the release of this news, shares of the Company's stock declined 19.97 percent to close on May 8, 2007 at $23.40 per share. Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Schiffrin Barroway Topaz & Kessler which prosecutes class actions in both state and federal courts throughout the country. Schiffrin Barroway Topaz & Kessler is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. For more information about Schiffrin Barroway Topaz & Kessler or to sign up to participate in this action online, please visit www.sbtklaw.com If you are a member of the class described above, you may, not later than June 18, 2007, move the Court to serve as lead plaintiff of the class, if you so choose. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Schiffrin Barroway Topaz & Kessler or other counsel of your choice, to serve as your counsel in this action. CONTACT:
Schiffrin Barroway Topaz & Kessler, LLP
Darren J. Check, Esq.
Richard A. Maniskas, Esq.
280 King of Prussia Road
Radnor, PA 19087
1-888-299-7706 (toll free) or 1-610-667-7706
Or by e-mail at Email Contact |
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Gibson Dunn Adds Real Estate Partner in New York
Law Firm News |
2007/05/08 18:34
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Gibson, Dunn & Crutcher LLP is pleased to announce that Eric M. Feuerstein is joining the firm as partner in New York. Previously a partner with Fried, Frank, Harris, Shriver & Jacobson, Feuerstein has a practice that focuses on high-end, capital-market driven real estate transactions. "We're delighted to have Eric join the firm," said Ken Doran, Managing Partner of Gibson Dunn. "A rising star in New York's real estate bar, he will significantly help us expand our national and international real estate practice." "Eric is highly regarded not only by the New York real estate bar, but also by brokers, owners, developers and bankers," said Steven Shoemate, Partner in Charge of the New York office. "Eric is a talented and experienced lawyer, who will be a dynamic addition to the firm. We look forward to working with him as we continue to expand our presence and build on our success in New York." "I'm very excited about the opportunity that Gibson Dunn has extended to me," Feuerstein said. "My practice fits in nicely with the firm’s real estate practice in New York, nationally and internationally, and I look forward to working together with my new colleagues." About Eric M. Feuerstein Feuerstein's real estate practice focuses on acquisitions, joint ventures, leasing, development and financing. His clients have included landlords, developers and institutional investors. He recently represented Jamestown Properties in the $1.5 billion sale of its 1121 6th Avenue property (the Fox News building), as well as the $300 million sale of 620 6th Avenue (the Bed, Bath and Beyond building in Chelsea) and in the sale of its condominium interest in the Random House building to The Witkoff Group for $510 million. He has also recently represented Apollo and Vantage in purchasing $1 billion of residential properties in New York City. He received his law degree from Benjamin N. Cardozo School of Law in 1995 and his bachelor’s degree, cum laude, from Cornell University in 1991. About Gibson Dunn’s Real Estate Practice Gibson Dunn’s Real Estate Group represents, in the United States and Europe, a variety of sophisticated participants in real estate, including institutional debt and equity providers, public companies and privately held entrepreneurial developers, owners and operators. The lawyers in the Real Estate Group are skilled in a broad spectrum of real estate matters including, among others: Real estate debt and equity finance
Development
Sales and acquisitions
Land use and environmental
Leasing
Workout transactions
The firm's unique expertise in specialized areas of real estate transactions is supplemented with a full scope of related legal capabilities, including tax, corporate, bankruptcy, environmental and litigation.
http://gibsondunn.com |
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Guilty Pleas Expected in Big Insider Trading Case
Lawyer Blog News |
2007/05/08 16:45
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A former Morgan Stanley executive responsible for making sure that employees obey the law is preparing to plead guilty this week for her role in one of the largest Wall Street insider-trading rings in more than two decades, according to court papers. Randi E. Collotta and her husband, Christopher, are scheduled to appear before U.S. District Judge Victor Marrero in New York on Thursday. The negotiations between the Collottas and federal prosecutors in the Southern District of New York became public yesterday upon the release of correspondence from a government lawyer. Assistant U.S. Attorney Andrew L. Fish asked the judge to delay a prior court session because "the parties are very close to completing plea negotiations." "The Government anticipates that both defendants will be ready to enter guilty pleas on May 10, 2007," Fish wrote. The case is the largest yet in a renewed effort by the Justice Department and the Securities and Exchange Commission to root out fraud that puts average investors at a disadvantage in the stock market. Securities enforcers are probing unusual trading patterns in many companies' stock and options shortly before merger and buyout offers. Dow Jones said last week that it had received inquiries from regulators interested in trades preceding News Corp.'s recent bid for the company. The Collottas are among more than a dozen defendants nabbed in a widespread insider-trading ring in March. Law enforcement authorities singled out the Collottas because of their special role in protecting the integrity of investment banks and the market as a whole. Randi Collotta once served as an associate in Morgan Stanley's global compliance division, where she had access to secret information about pending deals involving such clients as Macromedia, Catellus Development, and PacifiCare Health Systems, according to the grand jury indictment against her. Rather than safeguard the information, however, Collotta passed it along to her husband, also a lawyer, who shared it with co-conspirators, prosecutors said. Kenneth Breen, a lawyer for Randi Collotta, said yesterday that she would "address these charges in court." Brian Rafferty, a lawyer for Christopher Collotta, declined to comment. |
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The Lanier Law Firm Announces $6.5 Million Verdict
Law Firm News |
2007/05/08 16:22
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The Lanier Law Firm is announcing a $6.5 million verdict handed down in favor of a permanently injured oil filed worker after jurors found that negligence on the part of two companies caused the man's injuries.Attorney Judson A. Waltman of The Lanier Law Firm represented plaintiff George Coley along with co-lead counsel Chris Carver of Lubbock, Texas-based Gibson Carver, L.L.P. Mr. Coley, 51, was severely injured on Dec. 31, 2003, when he was struck by an 800-pound casing pipe that had fallen from 30 feet above. The impact crushed his left elbow and caused multiple fractures in his left arm. Doctors say Mr. Coley will have limited use of the arm for the rest of his life. Witnesses testified during trial that the pipe came loose from a nubbin that was being used to lift the pipe before striking Mr. Coley, a subcontractor employed by Lewis Casing Crews of Odessa, Texas. In the lawsuit against Big Dog Drilling and Endeavor Energy Resources, Mr. Coley's attorneys said that managers with the two Midland, Texas, companies ignored Mr. Coley's concerns about the condition of the nubbin and told him to go back to work. "This jury sent a clear message that worker safety comes first," says Mr. Waltman of The Lanier Law Firm. "The first response from the drilling company was to get the drilling operation restarted before caring for Mr. Coley's injuries. That kind of attitude is unacceptable in any work environment, and the jury felt compelled to react accordingly." The verdict was reached on May 1 before state district judge Jay Gibson in Wood County. The award includes $1.58 million in actual damages and $4.92 million in punitive damages. Jurors assessed $420,000 in punitive damages against Big Dog Drilling and $4.5 million against Endeavor Energy. With offices in Houston and New York, The Lanier Law Firm is committed to addressing client concerns with effective and innovative solutions. The firm is composed of outstanding trial attorneys with decades of experience handling cases involving pharmaceutical liability, asbestos exposure, business fraud, serious personal injuries, product liability, and toxic exposure. Lanier Law Firm CONTACT: Kevin Roberts of Lanier Law Firm, +1-713-659-5200 |
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Rosner & Mansfield, LLP Honored by Bar Association
Law Firm News |
2007/05/08 15:57
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Rosner & Mansfield, LLP was selected by the San Diego County Bar Association as the recipient of its annual award "For Outstanding Public Service By A Law Firm" at a ceremony on May 4th.
The firm was recognized for its successful challenge to the City of
Escondido's illegal immigrant rental ban. The ground-breaking case was one
of the first of the so-called 'anti-immigrant municipal legislation' cases
to be adjudicated in the United States.
As the lead counsel of a coalition of civil rights groups, private
attorneys and the American Civil Liberties Union (ACLU), partner Alan
Mansfield of Rosner & Mansfield first obtained a temporary restraining
order shortly after the Escondido City Council passed the legislation. He
followed that success with an agreement negotiated with Escondido where the
City agreed to be permanently enjoined from ever visiting the racially
divisive issue again. In addition the City agreed to a six figure settlement.
Alan Mansfield said, "I'm proud to have spearheaded the defense of
civil rights for all, including immigrants, and was gratified to achieve
such a speedy, positive and just conclusion to legislation that was so
racially charged and divisive. To be recognized by the San Diego County Bar
Association is both gratifying and exciting and I thank the association for
this award."
The firm was also recognized for giving lectures and seminars to JAG
officers at both Camp Pendleton and the Naval Justice school in San Diego.
Rosner & Mansfield, LLP with offices in San Diego, is one of the
nation's leading consumer protection law firms.
www.rosnerandmansfield.com |
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Frank Schilt pleads guilty to murder of wife
Court Feed News |
2007/05/08 11:44
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A man accused of killing his wife and dumping her body in a landfill pleaded guilty on Monday. In September, a judge ordered Frank Schilt to stand trial for the murder of his wife, Terri, although her body was never found. Schilt originally entered a not guilty plea on December 6. Schilt entered the guilty plea to a second-degree murder charge in exchange for lowering the charge from first-degree murder and dismissing the other charges. Schilt will be sentenced on August 6th, and is expected to serve between 32 and 48 years. Amy Schilt, Frank Schilt's oldest daughter, stated that the new plea was agreed on by all involved, and was intended to spare the family the drama of a trial. "We support the fact that he is pleading guilty to second-degree murder" Amy told reporters, "because it would be better for everyone, so that we could kind of move on with our lives, and get over a lot of these things without it coming back in our faces." Terri Schilt was reported missing in March 2006, and was believed to have been killed in late February of that year. |
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