Thursday, November 20, 2014

Court Appoints Faruqi & Faruqi, LLP Lead Counsel in Securities Class Action Against China Mobile Games & Entertainment Group, Ltd.

NOVEMBER 20, 2014

Court Appoints Faruqi & Faruqi, LLP Lead Counsel in Securities Class Action Against China Mobile Games & Entertainment Group, Ltd.
On November 20, 2014, District Court Judge Kimba M. Wood of the United States District Court for the Southern District of New York appointed Faruqi & Faruqi, LLP to serve as Lead Counsel in In re CHINA MOBILE GAMES & ENTERTAINMENT GROUP, LTD SECURITIES LITIGATION, Case No. 14-cv-4471.
For further inquiries regarding this matter, please contact Richard Gonnello at rgonnello@faruqilaw.com or (212) 983-9330.

Thursday, October 30, 2014

Faruqi & Faruqi, LLP has been Appointed Co-Lead Counsel in the Derivative Litigation on Behalf of Lihua International, Inc.

OCTOBER 30, 2014

On October 29, 2014, United States District Judge for the Southern District of New York Ronnie Abrams ordered the consolidation of derivative cases on behalf of Lihua International, Inc. and has appointed Faruqi & Faruqi, LLP as co-lead counsel for Plaintiffs.

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Friday, October 3, 2014

Court Approves Settlement in the Ruby Tuesday Wage & Hour Lawsuit

OCTOBER 03, 2014

Faruqi & Faruqi is pleased to announce court approval of the hard-fought settlement in Guttentag v. Ruby Tuesday, No. 12-cv-03041, in the United States District Court for the Southern District of New York.  The $3 million settlement includes over 4000 servers, bartenders and food runners at Ruby  Tuesday restaurants all over the country.  Adam Gonnelli, who heads Faruqi & Faruqi's Wage Theft Practice, was lead attorney on the case.

Monday, July 21, 2014

The NY Times: Whirlpool Wants Congress to Ban Class-Action Suits Tied to Energy Star Program

JULY 21, 2014

The NY Times: Whirlpool Wants Congress to Ban Class-Action Suits Tied to Energy Star Program
July 21, 2014
Faruqi & Faruqi, LLP partner Antonio Vozzolo is quoted in a New York Times article regarding proposal to ban Energy Star class action lawsuits.
For further inquiries regarding this matter, please contact Antonio Vozzolo at: avozzolo@faruqilaw.com  or (212) 983-9330.

Faruqi & Faruqi, LLP Announces Denial of Motion to Dismiss in Shop-Vac Consumer Case

JULY 21, 2014

Faruqi & Faruqi, LLP Announces Denial of Motion to Dismiss in Shop-Vac Consumer Case
On July 17, 2014, the United States District Court for the Middle District of Pennsylvania denied Shop-Vac’s motion to dismiss the claims of a class of vacuum purchasers. Faruqi & Faruqi represents the plaintiffs, who are suing on behalf of consumers deceived by Shop-Vac’s false and misleading horsepower and tank capacity representations. 
In the decision, Judge Yvette Kane declined to dismiss plaintiffs’ consumer fraud, warranty, and Magneson-Moss claims, but did dismiss some of one plaintiff’s claims for failure to give the appropriate pre-suit notice.
Lowe's Home Centers, Inc. and Lowe's HIW, Inc. are also defendants in the case, which is In re: Shop-Vac Marketing and Sales Practice Litigation (4:12-md-02380-YK).  The lead attorney for Faruqi & Faruqi is Adam Gonnelli.

Thursday, July 17, 2014

Faruqi & Faruqi, LLP has been Appointed Co-Lead Counsel in the Derivative Litigation Against ADT Corporation

JULY 17, 2014

Faruqi & Faruqi, LLP has been Appointed Co-Lead Counsel in the Derivative Litigation Against ADT Corporation
On July 16, 2014, the United States District Court for the Southern District of Florida appointed Faruqi & Faruqi, LLP as co-lead counsel for the newly consolidated case, In re The ADT Corporation Derivative Litigation, Lead Case No. 14-80570-CIV-DIMITROULEAS/SNOW.
The action alleges that  defendants made false and misleading statements and failed to disclose that: (i) ADT had experienced reduced non-Pulse demand; (ii) the Company's churn rate and attrition was accelerating; (iii) ADT's advertising and service costs were increasing; and (iv) the Company had been relying on its aggressive share repurchases to artificially inflate its reported earnings per share ("EPS").

Wednesday, July 2, 2014

Faruqi & Faruqi, LLP Announces Preliminary Approval of Settlement in Astiana, et al. v. Kashi Co.

JULY 02, 2014

Faruqi & Faruqi, LLP, as co-lead counsel, has obtained preliminary approval of a $5 million class action settlement in Skye Astiana, et al. v. Kashi Co., Civ. No. 11-cv-1967 (S.D. Cal.)  The case involves claims that allegations that Kashi food products were falsely and misleadingly labeled, marketed and sold as being “All Natural” or containing “Nothing Artificial,” but contained certain challenged ingredients.
If approved by the Court, the proposed settlement will result in cash refunds for California residents who purchased certain Kashi products between August 24, 2007 and May 1, 2014 in California who submit a valid claim form.
Visit http://www.naturalclasssettlement.com to learn more about the settlement including how to file an online claim for payment.
For further inquiries regarding this matter, please contact Antonio Vozzolo at avozzolo@faruqilaw.com or (212) 983-9330.

Monday, June 30, 2014

Court Appoints Faruqi & Faruqi, LLP Lead Counsel in Securities Class Action Against Geron Corporation

JUNE 30, 2014

Court Appoints Faruqi & Faruqi, LLP Lead Counsel in Securities Class Action Against Geron Corporation
On June 30, 2014, District Court Judge Charles R. Breyer of the United States District Court for the Northern District of California appointed Faruqi & Faruqi, LLP to serve as Lead Counsel in In re Geron Corporation Securities Litigation, Case No. 3:14-cv-01224 (CRB).
For further inquiries regarding this matter, please contact Richard Gonnello at rgonnello@faruqilaw.com or (212) 983-9330.

Thursday, June 12, 2014

Faruqi & Faruqi, LLP Announces Final Court Approval of Settlement in In re Ebix, Inc., Securities Litigation

JUNE 12, 2014

Faruqi & Faruqi, LLP Announces Final Court Approval of Settlement in In re Ebix, Inc., Securities Litigation
Faruqi & Faruqi LLP is pleased to announce the Court’s final approval of a settlement in In re Ebix, Inc. Securities Litigation, Master File No. 1:11-CV-02400-RWS (N.D. Ga.). The settlement provides for $6,500,000 in cash to be paid to class members who purchased or otherwise acquired Ebix common stock between May 6, 2009 and June 30, 2011. A copy of the Court’s Final Order and Judgment approving the settlement can be found at the link below.

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Friday, May 9, 2014

Court Appoints Faruqi & Faruqi, LLP Lead Counsel in Case Against Gentium S.p.A.

MAY 09, 2014

Court Appoints Faruqi & Faruqi, LLP Lead Counsel in Case Against Gentium S.p.A.
Faruqi & Faruqi, LLP is pleased to announce that on May 9, 2014, District Court Judge J. Paul Oetken of the Southern District of New York appointed Faruqi & Faruqi, LLP to serve as sole Lead Counsel in Jyles v. Gentium S.p.A. The Case number is 1:14-cv-00287-JPO.

Friday, April 25, 2014

Court Appoints Faruqi & Faruqi, LLP Co-Lead Counsel in Securities Class Action Against FAB Universal Corp.

APRIL 25, 2014

Court Appoints Faruqi & Faruqi, LLP Co-Lead Counsel in Securities Class Action Against FAB Universal Corp.
On April 25, 2014, District Court Judge Robert W. Sweet of the United States District Court for the Southern District of New York appointed Faruqi & Faruqi, LLP to serve as Co-Lead Counsel in Simmons v. Spencer, Case No. 1:13-cv-08216-RWS.
For further inquiries regarding this matter, please contact Richard Gonnello at rgonnello@faruqilaw.com or (212) 983-9330.

Monday, March 31, 2014

Faruqi & Faruqi, LLP is certified by New York State’s Empire State Development as a Women Business Enterprise (WBE)

MARCH 31, 2014

Faruqi & Faruqi, LLP is certified by New York State’s Empire State Development as a Women Business Enterprise (WBE)
Faruqi & Faruqi, LLP is certified by New York State’s Empire State Development as a Women Business Enterprise (WBE)
Faruqi & Faruqi, LLP is a NYS certified Women’s Business Enterprise approved by the Empire State Development Division of Minority and Women’s Business Development (DMWBD). WBE certification validates that a business is at least 51 percent owned, controlled, operated, and managed by a woman or women. As a certified women-owned business enterprise, Regional Distributors is proud to promote equality of economic opportunities, eliminate barriers to minority and women participation in state contracts, and support New York State’s economy with increased access to opportunities for minority and woman-owned businesses.

Tuesday, March 4, 2014

Faruqi & Faruqi, LLP Announces Preliminary Court Approval of Settlement in Mylan Pharmaceuticals, Inc., et al. v. Warner Chilcott Public Limited Co., et al.

MARCH 04, 2014

Faruqi & Faruqi, LLP Announces Preliminary Court Approval of Settlement in Mylan Pharmaceuticals, Inc., et al. v. Warner Chilcott Public Limited Co., et al.
Faruqi & Faruqi LLP is pleased to announce the Court’s preliminary approval of a settlement in Mylan Pharmaceuticals, Inc., et al. v. Warner Chilcott Public Limited Co., et al., Civ. No. 12-3824 (E.D.Pa.) (the “Settlement”). This case involves claims that Defendants violated the antitrust laws relating to the sale of prescription pharmaceutical Doryx® to direct purchasers such as wholesalers. The Settlement provides for $15,000,000 in cash to be paid to the direct purchaser class members, who are defined in the Settlement as entities that purchased Doryx® directly from  any of the Defendants at any time between July 18, 2008 and December 31, 2013.  A final approval hearing on the Settlement will be held on June 9, 2014 at 10:00 a.m. before U.S. District Court Judge Paul S. Diamond in Courtroom 6B at the United States District Court for the Eastern District of Pennsylvania, 601 Market Street, Philadelphia, PA 19106. Notice is being mailed to class members on March 4, 2014 and class members shall have until April 3, 2014 to object/opt-out of the Settlement. Information about the Settlement will be posted here on  www.faruqilaw.com. Below are the Class Notice, the Settlement Agreement,  the Court’s  February 18, 2014 Order preliminarily approving the Settlement, the Consolidated Amended Complaint filed on August 13, 2013 and Plaintiffs’ motion for preliminary approval of the Settlement and Plaintiffs’ motion for attorneys’ fees, reimbursement of expenses and incentive awards to the class representatives.

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Tuesday, February 4, 2014

Faruqi & Faruqi, LLP Announces Preliminary Court Approval of Settlement in In re Ebix, Inc., Securities Litigation

FEBRUARY 04, 2014

Faruqi & Faruqi, LLP Announces Preliminary Court Approval of Settlement in In re Ebix, Inc., Securities Litigation
(NasdaqGS: EBIX)
Faruqi & Faruqi LLP is pleased to announce the Court’s preliminary approval of a settlement in In re Ebix, Inc. Securities Litigation, Master File No. 1:11-CV-02400-RWS (N.D. Ga.).  The settlement provides for $6,500,000 in cash to be paid to class members who purchased or otherwise acquired Ebix common stock between May 6, 2009 and June 30, 2011.  A final approval hearing on the settlement will be held on June 5, 2014 at 10:00 a.m., at the United States District Court for the Northern District of Georgia.  Notice will be provided to class members in the upcoming weeks, and information about the settlement will also be posted on www.EBIXSecuritiesLitigation.com.  In the meantime, a copy of the Court’s order preliminarily approving the settlement can be found at the link below.

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Monday, January 27, 2014

Faruqi & Faruqi, LLP Obtains Significant Victories On Behalf Of Defrauded Investors In Longwei Petroleum

JANUARY 27, 2014

Faruqi & Faruqi, LLP Obtains Significant Victories On Behalf Of Defrauded Investors In Longwei Petroleum
On January 27, 2014, United States District Judge Harold Baer, Jr. denied motions to dismiss filed by Longwei’s Chief Financial Officer Michael Toups, directors Douglas Cole and Gerald Deciccio, and Longwei’s auditors Child, Von Wagoner & Bradshaw PLLC and Anderson Bradshaw, PLLC.  The Court sustained claims that the defendants violated the federal securities laws by making materially false and misleading statements and omissions regarding Longwei’s reported revenues, business, and operations.  Most significantly, Judge Baer held that the claims against Longwei’s auditors surpassed the stringent pleading standards imposed by the Private Securities Litigation Reform Act, explaining, “Plaintiffs successfully allege the scienter of the auditors by pleading a combination of ‘red flags’ that should have raised the auditors’ suspicion, the enormous scale of the fraud, the auditors’ failure to follow generally accepted auditing standards (GAAS), and the fact that they had been rebuked for audit deficiencies in the past by the Public Company Accounting Oversight Board[.]”  Judge Baer previously entered default judgments finding defendants Dora Dong and Longwei liable for securities fraud, and Plaintiffs are seeking similar judgments against two additional defendants Cai Yongjun and Xue Yongping.
The Court’s Opinion is attached.

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