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Glancy Binkow & Goldberg LLP Announces Class Action
Class Action News |
2012/03/15 16:12
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Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities who purchased the common stock of Nevsun Resources Ltd. between March 31, 2011 and February 6, 2012, inclusive, seeking to pursue remedies under the Securities Exchange Act of 1934. Nevsun, together with its subsidiaries, engages in the acquisition, exploration, development and production of mineral properties, including the Bisha Property, a gold, copper, silver and zinc mine in Eritrea, Africa.
The Complaint alleges that defendants issued materially false and misleading statements and failed to disclose that: (i) Nevsun’s mining activities at the Bisha mine produced a material amount of waste rock, rather than gold ore; (ii) the amounts of gold and gold ore recovered from the Bisha mine were materially less than estimated by the Company's reserve estimate, a situation which defendants knew or had reason to know based on data routinely collected throughout the Class Period from the Bisha mine; (iii) Nevsun was progressing through the ore body at the Bisha mine much more quickly than planned, in order to maintain gold production at a rate that would not reveal to investors that the amount of gold was materially less than the Company’s estimate; (iv) the Company was aware that its resource model was materially defective because the actual amounts of gold mined at Bisha did not reconcile with the Company's reserve estimate previously disseminated to the investing public; and (v), Nevsun materially overstated its gold reserves at the Bisha mine.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased Nevsun common stock between March 31, 2011 and February 6, 2012, you have certain rights, and have 60 days from March 13, 2012 to move for lead plaintiff status. To be a member of the class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent class member.
www.glancylaw.com. |
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US court looks at possible Edwards lawyer conflict
U.S. Legal News |
2012/03/15 16:11
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A federal judge planned to hear Thursday whether former North Carolina Sen. John Edwards would create problems for his upcoming trial by hiring lawyers who represented his mistress in a lawsuit over the couple's alleged sex tape.
The hearing scheduled in Greensboro aims to air whether lawyers Alan Duncan and Allison Van Laningham could use insider knowledge of Edwards' mistress Rielle Hunter at the former presidential candidate's trial beginning next month.
Duncan and Van Laningham represented Hunter in a lawsuit that ended last month with a settlement that ordered all copies of the tape destroyed.
Federal prosecutors have said they'll likely call Hunter as a witness at Edwards' trial on campaign finance charges that he used nearly $1 million from two wealthy donors to hide the pregnant Hunter as he sought the White House in 2008. He has pleaded not guilty.
"To whom would Mr. Duncan's and Ms. Van Laningham's allegiance lie? Their new client or the one they represented as recently as two weeks ago in a lawsuit seeking to enforce those very privacy rights?" federal prosecutors said in a court filing last week.
Because of their previous attorney-client relationship with Hunter, Duncan and Van Laningham might take it easy on her if they were questioning Hunter under oath, prosecutors said. |
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Florida CVS stores' suspension put on hold
Business Law Info |
2012/03/15 15:11
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A federal appeals court has put on hold the suspension of two Florida CVS pharmacies that would have prevented them from selling controlled substances.
The court on Wednesday stopped the suspension while it considers an appeal from the stores. The Drug Enforcement Administration had issued the suspension because of alleged lax enforcement of restrictions on a powerful painkiller.
The DEA says the pharmacies were dispensing the painkiller oxycodone far in excess of legitimate needs. CVS says it has taken steps to reduce the prescriptions.
On Tuesday, a federal judge denied the CVS stores' request for a preliminary injunction in the case, but the stores immediately appealed.
The appeals court has already put on hold DEA's suspension of Cardinal Health's Lakeland, Fla.-based center that supplied the stores. |
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Vegas woman skips court in scissors death case
Court Feed News |
2012/03/14 17:15
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A mother accused of killing her 6-year-old daughter with scissors refused to leave her jail bed for her first court appearance Wednesday, drawing angry words from a Las Vegas judge and concern from her lawyer about her mental state.
Las Vegas Justice of the Peace Joe M. Bonaventure reset Danielle Yvonne Slaughter's arraignment on a murder with a weapon charge for Friday, telling a jail supervisor by closed-circuit video that he wants Slaughter brought forcibly to court if necessary.
"I have concerns with delaying a case with such a serious charge," the judge said.
Slaughter was being held in supervised isolation at the Clark County jail, and Deputy Public Defender Andrea Luem told the judge she was worried about Slaughter's mental condition. Luem said she hoped to obtain a psychological evaluation.
"My concern is whether she's able to understand the charges," Luem said.
Several friends and supporters of Slaughter attended the brief court hearing and accompanied Luem back to her office afterward. They refused to speak with reporters or identify themselves. |
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Man accused in wife's death in DC to remain held
Legal Career News |
2012/03/14 17:10
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A German-born man who is charged with killing his 91-year-old socialite wife and who a doctor has said was delusional will spend at least another month in a mental health hospital, a judge decided Wednesday.
A judge ordered Albrecht Muth, 47, held for another month during a mental health hearing in D.C. Superior Court.
Muth is charged in the August strangulation and beating death of his wife, Viola Drath, a German journalist. He was sent from jail to a psychiatric hospital in February for a competency screening after a doctor said Muth was delusional and claimed the Archangel Gabriel tells him what to do.
A report filed in court Tuesday said a psychologist who examined him at Saint Elizabeths Hospital had concerns about his current ability to rationally understand the proceedings against him and his ability to help his attorneys with his case. The hospital said it believes Muth's mental health is likely to improve with time and treatment, however.
Muth's lawyers and lawyers for the government agreed the hospital should be given additional time to treat him.
District of Columbia Superior Court Judge Russell Canan encouraged Muth to work with the hospital staff. Muth nodded but did not say anything during the hearing. Canan scheduled the next hearing in the case for April 25. |
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Ohioan to plead guilty to defrauding fellow Amish
Criminal Law Updates |
2012/03/14 16:14
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An Ohio man will plead guilty in federal court to defrauding fellow Amish in 29 states out of nearly $17 million as part of a case the man's church had hoped to shield from publicity and outside involvement, the government said Tuesday.
The attorney for Monroe L. Beachy, 77, owner of A&M Investments in Sugarcreek, filed a recent notice informing federal court of his "intention to plead guilty as charged."
U.S. attorney's spokesman Mike Tobin confirmed the pending guilty plea. Beachy declined to comment Thursday, and his attorney didn't immediately return a message seeking comment.
Beachy is accused in an indictment of promising investors safe securities but moving money to riskier investments. According to the indictment, nearly 2,700 people and entities, including an Amish community loan fund, lost about $16.8 million since 2006.
The investments directed by Beachy "were not the 'safe' investments as reported to his clients or investors," the indictment said.
Beachy, bearded with a shock of white hair, is a member of an Amish church near Sugarcreek.
He is charged with one count of mail fraud, punishable by up to 20 years in prison. Prosecutors stopped short of saying whether Beachy had personally profited or just made bad investments but noted he had made a living for years offering investor services to the Amish. |
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