Thursday, July 30, 2015

Faruqi & Faruqi Case: Crestwood Midstream Partners

Faruqi & Faruqi, LLP Announces Filing of a Class Action Lawsuit Against Crestwood Midstream Partners LP

Notice is hereby given that Faruqi & Faruqi, LLP has filed a class action lawsuit in the United States District Court for the Southern District of Texas, Houston Division, case no. 4:15-cv-2101, on behalf of unitholders of Crestwood Midstream Partners LP (“Crestwood Midstream” or the “Company”) (NYSE: CMLP) who held (and continue to hold) Crestwood Midstream securities acquired on or before May 5, 2015.
On May 5, 2015, the Company entered into a Purchase Agreement and Plan of Merger (“Merger Agreement”) under which Crestwood Equity Partners LP (“Crestwood Equity”) will acquire all of the outstanding units of Crestwood Midstream through a newly formed subsidiary of Crestwood Equity. The unit-for-unit transaction is valued at approximately $7.5 billion. The transaction and vote are expected to occur in the third quarter of 2015.
The complaint charges Crestwood Midstream Partners LP, its Board of Directors, Crestwood Equity Partners LP, and affiliated corporate entities and individuals with violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”).
Pursuant to the terms of the Merger Agreement, which was unanimously approved by the Company’s Board of Directors (the “Board” or “Individual Defendants”), Crestwood Midstream unitholders will receive a fixed exchange ratio of 2.75 units of Crestwood Equity for each unit of Crestwood Midstream they own. Crestwood Midstream and Crestwood Equity claim that this exchange ratio amounts to a deal consideration of approximately $18.75 per Crestwood Midstream common unit, based on Crestwood Equity’s closing price of $6.82 on May 5, 2015. However, Crestwood Equity units are currently trading at significantly lower prices, closing at $3.71 on July 28, 2015.
Furthermore, the Merger Agreement includes no protective collar on the transaction’s exchange ratio, and as a result, the implied dollar value of the Merger Consideration is susceptible to significant depreciation based upon the future performance of Crestwood Equity’s stock. Significantly, since the Proposed Transaction was announced, Crestwood Equity’s stock price has dropped approximately 38%, from $6.82 on May 5, 2015, to $4.23 on July 14, 2015. Thus, any premium Crestwood Midstream’s unitholders were supposedly receiving has vanished in light of the significant decrease in the value of Crestwood Equity’s stock price.
The complaint alleges that the S-4 Registration Statement (the “S-4”) filed with the Securities and Exchange Commission (“SEC”) on June 17, 2015 provided materially incomplete and misleading disclosures, thereby violating Sections 14(a) and 20(a) of the Exchange Act. The Registration Statement denies Crestwood Midstream’s unitholders material information concerning the financial and procedural fairness of the Merger. The complaint also alleges that 2.75 units of Crestwood Equity for each unit of Crestwood Midstream is an inadequate exchange ratio, as Crestwood Midstream has experienced significant growth in recent months and has consistently exceeded management’s revenue and earnings expectations. The offer price also fails to adequately value Crestwood Midstream’s prospects for future growth.
If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today.  Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.   

Wednesday, July 29, 2015

Faruqi & Faruqi Investigation: Cytec Industries Inc.

Faruqi & Faruqi, LLP Announces the Investigation of Cytec Industries Inc. (CYT) Over the Proposed Sale of the Company to Solvay SA

Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Cytec Industries Inc.  (“Cytec” or the “Company”) (NYSE: CYT) for potential breaches of fiduciary duties in connection with the sale of the Company to Solvay SA for approximately $5.5 billion in a cash transaction.
The Company’s stockholders will only receive $75.25 for each share of Company common stock they own. While the offer represented a premium of 28.9% compared to the closing price of $58.39 on July 28, 2015, it now represents a negligible premium compared to the opening price of approximately $73.91 on July 29, 2015. Furthermore, the share price is expected to continue climbing.
If you own common stock in Cytec and wish to obtain additional information and protect your investments free of charge, please fill out the form below or contact F&F's Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330. 

Monday, July 27, 2015

Faruqi & Faruqi Investigation: Magnetek, Inc.

Faruqi & Faruqi, LLP Announces the Investigation of Magnetek, Inc. (MAG) Over the Proposed Sale of the Company to Columbus McKinnon Corporation
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Magnetek, Inc. (“Magnetek” or the “Company”) (NASDAQ:MAG) for potential breaches of fiduciary duties in connection with the sale of the Company to Columbus McKinnon Corporation for approximately $188.9 million. 
The Company’s stockholders will only receive $50.00 for each share of Company common stock they own. The offer represents a very small premium compared to analysts’ median target price of $45.00 per share and a negligible premium compared to the opening price on July 27, 2015.
If you own common stock in Magnetek and wish to obtain additional information and protect your investments free of charge, please fill out the form below or contact F&F's Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330. 

Friday, July 24, 2015

Faruqi & Faruqi Investigation: Cigna Corp.

Faruqi & Faruqi, LLP Announces the Investigation of Cigna Corp. (CI) Over the Proposed Sale of the Company to Anthem Inc.

Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Cigna Corp. (“Cigna” or the “Company”) (NYSE:CI) for potential breaches of fiduciary duties in connection with the sale of the Company to Anthem Inc. for approximately $54 billion in a cash and stock deal.
The Company’s stockholders will only receive $188 for each share of Company common stock they own. However, at least one analyst sets the price target for Company shares at $190 per share.
If you own common stock in Cigna Corp and wish to obtain additional information and protect your investments free of charge, please fill out the form below or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330. 

Faruqi & Faruqi Investigation: StanCorp Financial Group

Faruqi & Faruqi, LLP Announces the Investigation of StanCorp Financial Group (SFG) Over the Proposed Sale of the Company to Meiji Yasuda Life Insurance Co.

Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of StanCorp Financial Group (“StanCorp” or the “Company”) (NYSE:SFG) for potential breaches of fiduciary duties in connection with the sale of the Company to Meiji Yasuda Life Insurance Co. for approximately $5 billion.
The Company’s stockholders will only receive $115.00 per share in cash for each share of Company common stock they own. The offer represents a negligible premium over the Company’s opening price per share on Friday, July 24th, and the stock is expected to continue climbing.
If you own common stock in StanCorp and wish to obtain additional information and protect your investments free of charge, please fill out the form below or contact F&F's Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330. 

Faruqi & Faruqi Alert: IDI, Inc.

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In IDI, Inc. To Contact The Firm


Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in IDI, Inc. (“IDI” or the “Company”) (NYSE MKT:IDI) of the September 21, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.
The lawsuit has been filed in the United States District Court for the Southern District of Florida on behalf of a class consisting of all persons or entities who purchased IDI securities between April 30, 2015 and July 21, 2015.
The complaint alleges that, according to a report published by Seeking Alpha on July 21, 2015, IDI failed to disclose that Chairman Michael Brauser was named as a defendant in multiple civil fraud lawsuits as well as in wipeout and bankruptcy proceedings. The complaint also accuses the Company of utilizing a Yahoo message board stock-pumping scheme in order to inflate its share price.
On this news, Company share price fell $5.26 per share, a 46% drop during intraday trading, to close at $6.16 per share on July 21, 2015.
Take Action
If you invested in IDI stock or options between April 30, 2015 and July 21, 2015 and would like to discuss your legal rights, please fill out the form below. You can also contact us by calling F&F's Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.  Faruqi & Faruqi, LLP also encourages anyone with information regarding IDI’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Faruqi & Faruqi Alert: Centrais Elétricas Brasileiras S.A. - Eletrobras

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Centrais Elétricas Brasileiras S.A. - Eletrobras To Contact The Firm

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Centrais Elétricas Brasileiras S.A. - Eletrobras (EBR) (“Eletrobras” or the “Company”) (NYSE:EBR) of the September 21, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.
The lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of a class consisting of all persons or entities who purchased Eletrobras securities between February 10, 2014 and April 29, 2015.
The complaint claims that the Company and its executives violated federal securities laws by failing to disclose that the Company was subject to investigation and disciplinary action by various Brazilian governmental and regulatory authorities. These proceedings were caused by lack of compliance from certain of the Company’s senior officials with the Company’s corporate governance directives and Code of Ethics. As a result of the foregoing, the Company’s financial statements and SOX certifications signed by Eletrobras’ senior management were materially false and misleading at all relevant times.
Specifically, on April 30, 2015, Eletrobras announced to investors that due to recent news reports about bribery, government investigations, and lack of compliance, the Company would not be filing its Form 20-F on time and needed additional time to make sure the proper auditing procedures were being followed. That same day, Electrobas filed a Form NT-20F with the SEC stating it needed an extension to file its Form 20-F for the year ending December 31, 2014.
On this news, the Company’s ADS price fell $0.22 per ADS, a decline of over 8%, to close at $2.45 per ADS on April 30, 2015.
Take Action
If you invested in Eletrobras stock or options between February 10, 2014 and April 29, 2015 and would like to discuss your legal rights, please contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.comFaruqi & Faruqi, LLP also encourages anyone with information regarding Eletrobras’ conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Faruqi & Faruqi Alert: EZCORP, Inc.

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In EZCORP, Inc. To Contact The Firm

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in EZCORP, Inc. (“EZCORP” or the “Company”) (NASDAQGS: EZPW) of the September 18, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.
The lawsuit has been filed in the United States District Court for the Western District of Texas on behalf of a class consisting of all persons or entities who purchased EZCORP securities between October 27, 2014 and July 16, 2015.
The complaint alleges that the Company and its executives violated federal securities laws by failing to disclose that the Company’s financial statements were not prepared in accordance with Generally Accepted Accounting Principles. Specifically, the Company improperly recognized particular structured asset sales and certain loans which overstated its gains on asset sales and accrued interest revenue. The Company’s accounting misrepresentations first came to light in a report released by the Company on April 30, 2015, in which it announced a delay in its earnings release for the second quarter of fiscal 2015 due to an ongoing review of the Company’s Grupo Finmart loan portfolio. On this news, shares of EZCORP declined $0.79 per share, an 8.59% drop, to close at $8.41 on May 1, 2015. 
Then, on May 20, 2015, after the market closed, the Company revealed that, while review of the Grupo Finmart loan portfolio was still ongoing, management and the Audit Committee would likely conclude that the Company had a material weakness in internal controls over financial reporting and deficiencies in its disclosure controls and procedures. On this news, shares of EZCORP declined $0.66 per share, a 7.59% drop, to close on May 21, 2014, at $8.33 per share, on unusually heavy volume.
Finally, on July 17, 2015, the Company announced that it would restate its financial statements for fiscal 2014 (including the interim periods, within that year) and the first quarter of fiscal 2015, and that the previously issued financial statements for those periods should no longer be relied upon.  After this news, shares of EZCORP fell $0.26 per share, a 3.86% drop, to close at $6.48 on July 17, 2015.
Take Action
If you invested in EZCORP stock or options between October 27, 2014 and July 16, 2015 and would like to discuss your legal rights, please contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.comFaruqi & Faruqi, LLP also encourages anyone with information regarding EZCORP’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Faruqi & Faruqi Investigation: Thoratec Corp.

Faruqi & Faruqi, LLP Announces the Investigation of Thoratec Corp. (THOR) Over the Proposed Sale of the Company to St. Jude Medical Inc.


Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Thoratec Corp. (“Thoratec” or the “Company”) (NASDAQGS:THOR) for potential breaches of fiduciary duties in connection with the sale of the Company to St. Jude Medical Inc. for approximately $3.4 billion.
The Company’s stockholders will only receive $63.50 for each share of Company common stock they own. The offer represents a mere 10 percent premium over Thortec's Friday, July 17th, closing price per share and a negligible premium over Thortec's Wednesday, July 22nd, opening price per share. Furthermore, the Company’s price per share is expected to continue climbing.
If you own common stock in Thoratec and wish to obtain additional information and protect your investments free of charge, please fill out the form below or contact F&F's Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330. 

Monday, July 20, 2015

Faruqi & Faruqi Investigation: Vivint Solar, Inc.

Faruqi & Faruqi, LLP Announces the Investigation of Vivint Solar, Inc. (VSLR) Over the Proposed Sale of the Company to SunEdison and TerraForm

Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Vivint Solar, Inc. (“Vivint” or the “Company”) (NYSE:VSLR) for potential breaches of fiduciary duties in connection with the sale of the Company to SunEdison and TerraForm for approximately $2.2 billion in a cash and stock deal.
The Company’s stockholders will only receive $16.50 for each share of Company common stock they own. However, the median share price target for the Company’s shares is $20.00 per share, well above the current offer, and at least one analyst sets it at $23.00 per share. Furthermore, the share price is expected to continue climbing.
If you own common stock in Vivint and wish to obtain additional information and protect your investments free of charge, please fill out this form or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330. 

Friday, July 17, 2015

Faruqi & Faruqi Investigation: Xoom Corporation

Faruqi & Faruqi, LLP Announces the Investigation of Xoom Corporation (XOOM) Over the Proposed Sale of the Company to Paypal, Inc.

Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Xoom Corporation (“Xoom” or the “Company”) (NASDAQ:XOOM) for potential breaches of fiduciary duties in connection with the sale of the Company to Paypal, Inc. for approximately $975 million. 
The Company’s stockholders will only receive $25.00 per share for each share of Company common stock they own. However, the offer price is below Xoom's 52 week high of $26.86 per share and below an analyst's price target of $32.00 per share.
If you own common stock in Xoom and wish to obtain additional information and protect your investments free of charge, please fill out the form below or contact F&F's Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330. 

Faruqi & Faruqi Investigation: Receptos, Inc.

Faruqi & Faruqi, LLP Announces the Investigation of Receptos, Inc. (RCPT) Over the Proposed Sale of the Company to Celgene Corporation

Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Receptos, Inc. (“Receptos” or the “Company”) (NASDAQ: RCPT) for potential breaches of fiduciary duties in connection with the sale of the Company to Celgene Corporation for approximately $7.3 billion in a cash deal. 
The Company’s stockholders will only receive $232 for each share of Company common stock they own. However, the offer has a negligible premium for a stock that has at least one analyst target price of $348 per share and a mean target price of $223.50 per share. Furthermore, the Company’s share price is expected to continue climbing.
If you own common stock in Receptos and wish to obtain additional information and protect your investments free of charge, please fill out the form below or contact F&F's Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330. 

Faruqi & Faruqi Case: LRR Energy, L.P.

Faruqi & Faruqi, LLP Announces Filing of a Class Action Lawsuit Against LRR Energy, L.P. (LRE)

Notice is hereby given that Faruqi & Faruqi, LLP has filed a class action lawsuit in the United States District Court for the Southern District of Texas, case no. 4:15-cv-02017, on behalf of unitholders of LRR Energy, L.P. (“LRR Energy” or the “Company”) (NYSE: LRE) who held (and continue to hold) LRR Energy securities acquired on or before April 20, 2015.
On April 20, 2015, the Company entered into a Purchase Agreement and Plan of Merger (“Merger Agreement”) under which Vanguard Natural Resources, LLC (“Vanguard”) will acquire all of the outstanding units of LRR Energy through Vanguard’s wholly owned subsidiary Lighthouse Merger Sub, LLC (“Merger Sub”). The unit-for-unit transaction is valued at approximately $251 million, with Vanguard assuming LRR Energy’s net debt of $288 million. The vote on the proposed transaction is currently scheduled for September 10, 2015.
The complaint charges LRR Energy, its Board of Directors, Vanguard, and Merger Sub with violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”).
Pursuant to the terms of the Merger Agreement, which was unanimously approved by the Company’s Board of Directors (the “Board” or “Individual Defendants”), LRR Energy unitholders will receive a fixed exchange ratio of 0.55 Vanguard units for each common unit of LRR Energy they own. LRR Energy and Vanguard claim that this exchange ratio amounts to a deal consideration of $8.93 per LRR Energy common unit, based on Vanguard’s closing price of $16.23 on April 20, 2015. However, Vanguard units are currently trading at significantly lower prices, closing at $13.56 on July 14, 2015.
Critically, the Merger Agreement includes no protective collar on the transaction’s exchange ratio and no guarantee that LRR Energy unitholders will receive the estimated $8.93 per unit consideration. Moreover, the $8.93 per unit consideration falls well below LRR Energy’s recent historical unit prices (the Company had a 52-week trading high of $20.11) and certain analyst opinions.
The complaint alleges that the S-4 Registration Statement (the “S-4”) filed with the Securities and Exchange Commission (“SEC”) on June 3, 2015 (amended on July 9, 2015) provided materially incomplete and misleading disclosures, thereby violating Sections 14(a) and 20(a) of the Exchange Act. The omitted information is material to the impending decision of LRR Energy unitholders on whether or not to exchange their shares. The complaint also alleges that the 0.55 Vanguard units per LRR Energy unit is inadequate, as LRR Energy has experienced significant growth in recent months and has consistently exceeded management’s revenue and earnings expectations. The offer price also fails to adequately value LRR Energy’s prospects for future growth.
If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today.  Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

Wednesday, July 15, 2015

Faruqi & Faruqi Investigation: Pacific Booker Minerals Inc.

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Pacific Booker Minerals Inc. To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Pacific Booker Minerals Inc. (“Pacific Booker” or the “Company”) (NYSE MKT:PBM).
The investigation focuses on whether the Company and its executives violated federal securities laws by failing to disclose the level of environment compliance of its current projects. Specifically, on July 7, 2015, Canada’s Environment Minister and Energy and Mines Minister announced that the Company’s proposed Morrison copper-gold mine must undergo further assessment. The Ministries pointed to a lack of information to ascertain that the mine’s design is environmentally friendly.
After this announcement, Company’s share price fell $1.58, or 36.1%, on intraday trading, to close at $2.80 on July 8, 2015.
Take Action
If you invested in Pacific Booker stock and would like to discuss your legal rights, please fill out the form below. You can also contact us by e-mailing Richard Gonnello at rgonnello@faruqilaw.com.  Faruqi & Faruqi, LLP also encourages anyone with information regarding Pacific Booker’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Faruqi & Faruqi Alert: Avalanche Biotechnologies, Inc.

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Avalanche Biotechnologies, Inc. To Contact The Firm

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Avalanche Biotechnologies, Inc. (“Avalanche” or the “Company”) (NASDAQ:AAVL) of the September 8, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.
The lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of all those who purchased Avalanche securities between July 31, 2014 and June 15, 2015 (the “Class Period”).
The investigation focuses on whether the Company and its executives violated federal securities laws by failing to disclose the statistical validity of its Phase IIa trial results concerning its lead product, AVA-101, a single sub-retinal injection to treat wet age-related macular degeneration.
Specifically, on June 15, 2015, the Company announced that AVA-101 had met its primary clinical endpoints. However, in a same-day conference call to discuss ongoing clinical results, the Company indicated that the study wasn't designed to show statistically significant differences between active and control groups.
After the conference call, share price fell $21.83 per share the next day to close at $17.05 per share, a 56% drop, on June 16, 2015.
Take Action
If you invested in Avalanche stock or options between July 31, 2014 and June 15, 2015 and would like to discuss your legal rights, please fill out the form below.  You can also contact us by e-mailing Richard Gonnello at rgonnello@faruqilaw.comFaruqi & Faruqi, LLP also encourages anyone with information regarding Avalanche’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Monday, July 13, 2015

Faruqi & Faruqi Investigation: MarkWest Energy Partners

Faruqi & Faruqi, LLP Announces the Investigation of MarkWest Energy Partners (MWE) Over the Proposed Sale of the Company to MPLX LP

Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of MarkWest Energy Partners (“MarkWest” or the “Company”) (NYSE:MWE) for potential breaches of fiduciary duties in connection with the sale of the Company to MPLX LP for approximately $15.8 billion.
The Company’s stockholders will only receive1.09 MPLX common units and a one-time cash payment of approximately $3.37 per MarkWest common unit, for total consideration of $78.64 for each share of Company common stock they own.
However, at least one analyst sets the Company’s share price at $86.00 and the share has traded at higher values than the current deal offer in the past year.
If you own common stock in MarkWest and wish to obtain additional information and protect your investments free of charge, please fill out the form below or contact F&F's Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330. 

Faruqi & Faruqi Investigation: Remy International Inc.

Faruqi & Faruqi, LLP Announces the Investigation of Remy International Inc. (REMY) Over the Proposed Sale of the Company to BorgWarner Inc.
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Remy International Inc. (“Remy” or the “Company”) (NASDAQ:REMY) for potential breaches of fiduciary duties in connection with the sale of the Company to BorgWarner Inc. for approximately $1.2 billion. 
The Company’s stockholders will only receive $29.50 for each share of Company common stock they own. However, the offer is just above the mean analyst price target of $28.50 as well as it is below the high price target. Furthermore, the Company’s share price is expected to continue climbing.
If you own common stock in Remy and wish to obtain additional information and protect your investments free of charge, please fill out the form below or contact F&F's Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330. 

Friday, July 10, 2015

Faruqi & Faruqi Alert: Silver Wheaton Corp.

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Silver Wheaton To Contact The Firm

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Silver Wheaton Corp. (“Silver Wheaton” or the “Company”) (NYSE: SLW) of the September 8, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.
The lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of all those who purchased Silver Wheaton securities between March 30, 2011 and July 6, 2015 (the “Class Period”).
The complaint focuses on whether the Company and its executives violated federal securities laws by failing to disclose that Silver Wheaton lacked adequate internal accounting controls over its financial reporting. Due to these inadequacies, the Company’s financial statements contained errors concerning income tax owed from the income generated by its foreign subsidiaries.
On July 6, 2015, the Company reported that it would be audited by the Canada Revenue Agency to reassess its earnings from foreign subsidiaries. The Company expects to pay approximately $150 million in taxes and another $57 million in penalties after the Agency has estimated that the Company’s reported income from its foreign subsidiaries should have been $567 million higher for fiscal years 2005 through 2010.
After the announcement, the Company’s share price dropped $2.08 per share, an 11.8% decline on heavy volume, to close at $15.46 per share on July 7, 2015.
Take Action
If you invested in Silver Wheaton stock or options between March 30, 2011 and July 6, 2015 and would like to discuss your legal rights, please contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.comFaruqi & Faruqi, LLP also encourages anyone with information regarding Silver Wheaton’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Thursday, July 9, 2015

Faruqi & Faruqi Alert: CorMedix, Inc.

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In CorMedix, Inc. To Contact The Firm

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in CorMedix, Inc. (“CorMedix” or the “Company”) (NYSE: CRMD) of the September 4, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.
The lawsuit has been filed in the United States District Court, District of New Jersey, on behalf of all those who purchased CorMedix securities between March 12, 2011 and June 29, 2015 (the “Class Period”).
The investigation focuses on whether the Company and its executives violated federal securities laws by failing to disclose that (1) the Company had utilized stock promoters seeking to inflate the Company’s share price and (2) the Company exaggerated the effectiveness of its sole drug product, Neutrolin, as well as the drug’s performance in clinical trials.
The information was made public by an article published on June 29, 2015, on Seeking Alpha.com. The article also stated that certain officers involved in the formation of the Company had faced previous fraud accusations.
As a result of this article, Company shares declined $0.81 per share to close at $4.05 per share on June 29, 2015, a drop of over 16.6% on unusually heavy volume.
If you invested in CorMedix stock or options between March 12, 2011 and June 29, 2015 and would like to discuss your legal rights, please contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding CorMedix’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Wednesday, July 8, 2015

Faruqi & Faruqi Alert: Edison International

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Edison International to Contact The Firm

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Edison International (“Edison” or the “Company”) (NYSE:EIX) of the September 4, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers. The lawsuit has been filed in the United States District Court for the Southern District of California, on behalf of a class consisting of all persons or entities who purchased Edison securities between July 31, 2014 and June 24, 2015 (the “Class Period”).
The complaint focuses on whether the Company and its executives violated federal securities laws. On February 9, 2015, Southern California Edison (“SCE”), the largest subsidiary of Edison International, submitted a notice to the California Public Utilities Commission (“CPUC”) in which the Company disclosed formerly unreported ex parte contact between Michael Peevey, former president of the CPUC, and Stephen Pickett, a former executive vice president at SCE. The Company’s failure to timely report this ex parte meeting was investigated for possible violations of CPUC rules. Documents released from the investigation revealed that the March 26, 2013 meeting concerned the SONGS Settlement negotiations and their investigation by CPUC.
According to an article published on May 4, 2015 by SFGate, the aforementioned ex parte contact was not the only previously unreported ex parte meeting between Michael Peevey and SCE executives. The article disclosed that on May 2014, the parties discussed donating millions of dollars to a UCLA institute at which Peevey held an advisory post.
After the publication of this article, shares of the Company dropped $2.87 per share over two days of trading, or roughly 3.75%, to close at $59.60 on May 6, 2015.
Then, on June 24, 2015, in response to the an independent report commissioned by the CPUC which described the Company’s ex parte meetings as “frequent, pervasive, and at least sometimes outcome-determinative,” The Utility Reform Network filed an application with the CPUC that charged SCE with “fraud by concealment” and urged the CPUC to set aside the SONGS Settlement and reopen its investigation.
On this news, shares of Edison declined $1.56 per share or over 2.70%, to close at $56.07 on June 24, 2015.
Take Action
If you invested in Edison stock or options between July 31, 2014 and June 24, 2015 and would like to discuss your legal rights, please contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.comFaruqi & Faruqi, LLP also encourages anyone with information regarding Edison’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Monday, July 6, 2015

Faruqi & Faruqi Investigation: Humana Inc.

Faruqi & Faruqi, LLP Announces the Investigation of Humana Inc. (HUM) Over the Proposed Sale of the Company to Aetna Inc.


Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Humana Inc. (“Humana” or the “Company”) (NYSE:HUM) for potential breaches of fiduciary duties in connection with the sale of the Company to Aetna Inc. for approximately $37 billion in cash and shares.  The Company’s stockholders will only receive $125.00 in cash and 0.8375 Aetna common shares for each share of Company common stock they own or $230.11 per share.
However, at least one analyst opinion sets the target price at $230.00 per share and the price per share is expected to continue climbing.
If you own common stock in Humana and wish to obtain additional information and protect your investments free of charge, please fill out the form below or contact F&F's Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330. 

Faruqi & Faruqi Alert: Celladon Corporation

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Celladon Corporation To Contact The Firm

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Celladon Corporation (“Celladon” or the “Company”) (NASDAQ:CLDN) of the August 31, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Celladon and certain officers. The lawsuit has been filed in the United States District Court for the Southern District of California, on behalf of a class consisting of all persons or entities who purchased Celladon securities between July 7, 2014 and June 25, 2015 (the “Class Period”).
The investigation focuses on whether the Company and its executives violated federal securities laws. On April 26, 2015, the Company reported that its Phase 2b CUPID2 trial of the MYDICAR program did not meet its primary and secondary endpoints. The Company had failed to disclose that success in CUPID1 trial was not indicative of any success in the CUPID2 trial since the CUPID1 trial was extremely small. After the announcement, Celladon share price declined rapidly, falling $10.78 or 78.80% during intraday trading, to close at $2.90 on April 27, 2015.
Furthermore, on June 26, 2015, Celladon reported the suspension of research and development of the MYDICAR program. Celladon had failed to disclose that the Company’s existence was tied to successful trial results and defendants were aware of the program’s limitations. On that same day, the Company announced the possibility of liquidation.  Following this news, Celladon stock fell $0.85 or 38% to close at $1.35 per share on June 26. 
Take Action
If you invested in Celladon stock or options between July 7, 2014 and June 25, 2015 and would like to discuss your legal rights, please contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.comFaruqi & Faruqi, LLP also encourages anyone with information regarding Celladon’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Thursday, July 2, 2015

Faruqi & Faruqi Investigation: Health Net Inc.

Faruqi & Faruqi, LLP Announces the Investigation of Health Net Inc. (HNT) Over the Proposed Sale of the Company to Centene Corp.


Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Health Net Inc. (“Health Net” or the “Company”) (NYSE:HNT) for potential breaches of fiduciary duties in connection with the sale of the Company to Centene Corp. for approximately $6.3 billion in a cash-and-stock deal.
The Company’s stockholders will only receive 0.622 shares of Centene and $28.25 in cash for each Company share held, for a total consideration of $78.57 based on Wednesday’s closing price. However, at least one analyst’s target price is set at $75.00 and the share price of the Company is expected to continue climbing.
The investigation focuses on whether Health Net’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Health Net’s shareholders.

Wednesday, July 1, 2015

Faruqi & Faruqi Investigation: Chubb Corporation

Faruqi & Faruqi, LLP Announces the Investigation of The Chubb Corporation (CB) Over the Proposed Sale of the Company to ACE Ltd.

Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of The Chubb Corporation (“Chubb” or the “Company”) (NYSE:CB) for potential breaches of fiduciary duties in connection with the sale of the Company to ACE Ltd. for approximately $28.3 billion.  The Company’s stockholders will only receive $62.93 in cash and 0.6019 share of ACE stock for each share they own for each share of Company common stock they own.
However, the median target price set by market analysts is of $103.00 per share and is expected to continue climbing.
If you own common stock in Chubb and wish to obtain additional information and protect your investments free of charge, please fill out the form below or contact F&F's Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330. 

Faruqi & Faruqi Investigation: Gramercy Property Trust Inc.

Faruqi & Faruqi, LLP Announces the Investigation of Gramercy Property Trust Inc. (GPT) Over the Proposed Sale of the Company to Chambers Street Properties

Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Gramercy Property Trust Inc. (“Gramercy Property” or the “Company”) (NYSE:GPT) for potential breaches of fiduciary duties in connection with the sale of the Company to Chambers Street Properties for approximately $5.7 billion in a stock transaction.  The Company’s stockholders will only receive 3.19 shares of Chambers Street for each share of Company common stock they own. The transaction values New York-based Gramercy Property at $25.36 per share.
However, the median target price set by market analysts is of $32.00 per share. Further the stock has traded historically at higher prices and even low target prices, of $29.50 per share, are above the current offer.
If you own common stock in Gramercy Property and wish to obtain additional information and protect your investments free of charge, please fill out the form below or contact F&F's Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330.