Wednesday, September 30, 2015

Faruqi & Faruqi Investigation: LifeLock, Inc.


Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential misconduct by the officers and directors of LifeLock, Inc. (“LifeLock” or the “Company”).
The investigation focuses on the role of the Company’s officers and directors in failing to comply with the terms of a settlement entered into by the Company with the Federal Trade Commission (“FTC”) in 2010 in connection with claims made by the Company concerning its identity theft product (the “2010 Settlement”). On March 9, 2010, the FTC issued a press release announcing that it had entered into the 2010 Settlement whereby LifeLock agreed to pay $11 million to the FTC and $1 million to a group of 35 state attorneys general to settle the claims set forth in the FTC’s complaint.  The 2010 Settlement also barred LifeLock from making deceptive claims, misrepresenting the risk of identity theft, and the manner and extent to which LifeLock protects consumers’ personal information. The 2010 Settlement required LifeLock to establish a comprehensive data security program and obtain biennial independent third-party assessments of that program for twenty years.
On July 21, 2015, the FTC issued a press release announcing that from at least October 2012 through March 2014, LifeLock violated the 2010 Settlement by:  1) failing to establish and maintain a comprehensive information security program to protect its users’ sensitive personal data, including credit card, social security, and bank account numbers; 2) falsely advertising that it protected consumers’ sensitive data with the same high-level safeguards as financial institutions; and 3) failing to meet the 2010 order’s recordkeeping requirements. In documents filed with the U.S. District Court for the District of Arizona, the FTC asked the court to impose an order requiring LifeLock to provide full redress to all consumers affected by the Company’s violations of the 2010 Settlement.
Take Action
If you currently own LifeLock stock and would like to discuss your legal rights, please contact us by calling Stuart Guber toll free at (215) 277-5770 or by sending an e-mail to sguber@faruqilaw.comFaruqi & Faruqi, LLP also encourages anyone with information regarding LifeLock’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Monday, September 28, 2015

Faruqi & Faruqi Investigation: TICC Capital Corp.

Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of TICC Capital Corp. (“TICC” or the “Company”) (NasdaqGS:TICC) for potential breaches of fiduciary duties in connection with the sale of the Company to TPG Specialty Lending for approximately $450 million in a stock transaction. 
The Company’s stockholders will only receive $7.50 a share in stock for each share of TICC common stock they own. However, the offer is significantly below at least one analyst’s target price of $9.00.
If you own common stock in TICC and wish to obtain additional information and protect your investments free of charge, please 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: Adept Technology, Inc.


Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Adept Technology, Inc. (“Adept Technology” or the “Company”) (NasdaqCM:ADEP) for potential breaches of fiduciary duties in connection with the sale of the Company to OMRON Corporation for approximately $200 million in a cash transaction.
The Company’s stockholders will only receive $13 for each share of Company common stock they own. However, the offer is inadequate since Company stock traded at $21.45 per share as recently as March 20, 2014.
If you own common stock in Adept Technology and wish to obtain additional information and protect your investments free of charge, please 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: Cablevision Systems Corporation


Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Cablevision Systems Corporation (“Cablevision” or the “Company”) (NYSE:CVC) for potential breaches of fiduciary duties in connection with the sale of the Company to Altice N.V. for approximately $17.7 billion in a cash transaction. 
The Company’s stockholders will only receive $34.90 for each share of Company common stock they own. However, the offer represents virtually no premium over the median analyst price target according to Yahoo!Finance.
If you own common stock in Cablevision and wish to obtain additional information and protect your investments free of charge, please 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: Atmel Corporation




Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Atmel Corporation (“Atmel” or the “Company”) (NasdaqGS:ATML) for potential breaches of fiduciary duties in connection with the sale of the Company to Dialog Semiconductor for approximately $4.6 billion in a cash and stock transaction. 
The Company’s stockholders will only receive $4.65 in cash and 0.112 of a Dialog American Depositary share, or approximately $9.22, for each share of Company stock they own. Howver, the offer is inadequate since Atmel stock traded at $10.44 per share as recently as June 22, 2015 and an analyst has set a price target for Atmel stock at $12.00 per share.
If you own common stock in Atmel and wish to obtain additional information and protect your investments free of charge, please 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: Media General


Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Media General (“Company”) (NYSE:MEG) for potential breaches of fiduciary duties in connection with the sale of the Company to Nexstar Broadcasting for approximately $4.1 billion in a cash and stock transaction. 
The Company’s stockholders will only receive $10.50 in cash and 0.0898 Nexstar Broadcasting shares, or approximately $14.62, for each share of Company common stock they own.
If you own common stock in Company and wish to obtain additional information and protect your investments free of charge, please 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. 

Thursday, September 24, 2015

Faruqi & Faruqi Case: AGL Resources, Inc.


Notice is hereby given that Faruqi & Faruqi, LLP has filed a class action lawsuit in the United States District Court for the Northern District of Georgia, case no. 1:15-CV-3320, on behalf of unitholders of AGL Resources, Inc. (“AGL” or the “Company”) (NYSE:GAS) who held (and continue to hold) AGL securities acquired on or before August 24, 2015.
On August 24, 2015, the Company entered into a definitive agreement (“Merger Agreement”) under which the Southern Company (“Southern Company”) will acquire all of the outstanding units of AGL and will become a new wholly owned subsidiary of Southern Company. The unit-for-unit transaction is valued at approximately $12 billion, including a total equity value of approximately $8 billion. The transaction is expected to close in the second half of 2016.
The complaint charges AGL, its Board of Directors, Southern Company, 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”), AGL’s unitholders will receive $66 in cash for each unit of AGL they own. However, the offer represents an inadequate premium for AGL’s unitholders since the Company has boasted impressive growth and forecasts for the current and next fiscal years.
The complaint alleges that the Preliminary Proxy Statement (the “Proxy”) filed with the Securities and Exchange Commission (“SEC”) on September 11, 2015 provided materially incomplete and misleading disclosures, thereby violating Sections 14(a) and 20(a) of the Exchange Act. The Registration Statement denies AGL’s unitholders material information concerning the financial and procedural fairness of the Merger. The complaint also alleges that Goldman, Sachs & Co., which provided the positive fairness opinion to the Board, is a stockholder in both the target and acquiring companies, thus standing on both sides of the deal. Finally, the complaint charges that members of the Board (“Individual Defendants”) stand to unfairly gain monetarily from the transaction.
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.  If you wish to discuss this action, or have any questions concerning this notice or your rights or interests, please fill out the form below.

Faruqi & Faruqi Investigation: Envivio, Inc.


Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Envivio, Inc. (“Envivio” or the “Company”) (NasdaqGS:ENVI) for potential breaches of fiduciary duties in connection with the sale of the Company to Ericsson for approximately $125 million in a cash transaction. 
The Company’s stockholders will only receive $4.10 for each share of Company common stock they own. However, the offer provides an inadequate premium over the Company’s 52-week high price of $4.09 per share.
If you own common stock in Envivio and wish to obtain additional information and protect your investments free of charge, please 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: Solera Holdings Inc.


Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Solera Holdings Inc. (“Solera” or the “Company”) (NYSE:SLH) for potential breaches of fiduciary duties in connection with the sale of the Company to Vista Equity Partners for approximately $3.74 billion in a cash transaction.
The Company’s stockholders will only receive $55.85 for each share of Company common stock they own. However, the offer represents an inadequate premium compared to the 52-week high of $58.43.
If you own common stock in Solera and wish to obtain additional information and protect your investments free of charge, please 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: Premiere Global Services, Inc.


Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Premiere Global Services, Inc. (“Premiere Global Services” or the “Company”) (NYSE:PGI) for potential breaches of fiduciary duties in connection with the sale of the Company to Siris Capital Group for approximately $1 billion in a cash transaction.
The Company’s stockholders will only receive $14.00 for each share of Company common stock they own. However, the offer has no premium over the median analyst price target of $14.00 per share according to Yahoo!Finance.
If you own common stock in Premiere Global Services and wish to obtain additional information and protect your investments free of charge, please 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: Sirona Dental Systems


Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Sirona Dental Systems (“Sirona” or the “Company”) (NasdaqGS:SIRO) for potential breaches of fiduciary duties in connection with the sale of the Company to DENTSPLY for approximately $5.51 billion in an all-stock transaction . 
The Company’s stockholders will only receive 1.8142 shares of DENTSPLY per each share of Sirona common stock they own, or approximately $95.03 per share as of September 24, 2015. However, the offer is significantly below at least one analyst’s target price of $120.00.
If you own common stock in Sirona and wish to obtain additional information and protect your investments free of charge, please 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. 

Tuesday, September 22, 2015

Faruqi & Faruqi Investigation: Cardiovascular Systems Inc.


Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential misconduct at Cardiovascular Systems Inc. (“CSII” or the “Company”).
The investigation focuses on whether the Company’s officers and directors breached their fiduciary duties by permitting the Company to engage in a course of misconduct which involved illegally paying doctors to use the Company’s products.  On May 9, 2014, the Company publicly disclosed that it had received a letter on May 8, 2014 from the U.S. Attorney’s Office for the Western District of North Carolina stating that the Company is being investigated for possible violations of the False Claims Act. 
On July 8, 2015, the Company further disclosed that a whistleblower lawsuit filed in 2013had been unsealed. The lawsuit, brought by a former sales manager of the Company, alleged that CSII engaged in a fraudulent marketing scheme to maximize profits through illegal kickbacks, off-label promotion, and violations of federal laws and regulations.  The lawsuit alleges several schemes to drive up sales, including “kickbacks” in which doctors were sent on all-expense-paid trips for training seminars in fancy settings and then told to use CSII devices on their next five or ten cases. 
Other allegedly illegal sales tactics included sending doctors free products as a way to induce them to purchase other products, providing information on how doctors could maximize their returns using unnecessary medical procedures, and making “sham” payments to doctors for speaking engagements as a reward for using the device frequently or as an inducement to use the device frequently.
Take Action
If you currently own CSII stock and would like to discuss your legal rights, please contact us by calling Stuart Guber toll free at (215) 277-5770 or by sending an e-mail to sguber@faruqilaw.comFaruqi & Faruqi, LLP also encourages anyone with information regarding CSII’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Faruqi & Faruqi Investigation: Costco Wholesale Corporation


Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential misconduct at Costco Wholesale Corporation (“Costco” or the “Company”).
The investigation focuses on the role of the Company’s officers and directors in purchasing shrimp from companies in Thailand that rely on slave labor and subsequently selling the shrimp in the Company’s stores.   According to a class action lawsuit filed in 2015 against Costco by a California resident, Costco purchases shrimp from Thailand-based company Charoen Pokphand Foods Public Company Limited (“CP Foods”), the biggest shrimp farmer in the world.  CP Foods, in turn, feeds its shrimp with fishmeal that is purchased from companies that have been reported to engage in horrific human rights abuses.  
Leading world news organizations, including The Guardian, which conducted a lengthy investigation into slavery on Thai fishing vessels, have documented egregious circumstances where fishermen are forced to work in inhumane conditions – where some fishermen have been shackled, beaten or tortured, and many have been murdered. According to The Guardian, CP Foods has admitted that slave labor is part of its supply chain. 
Take Action
If you currently own Costco stock and would like to discuss your legal rights, please contact us by calling Stuart Guber toll free at (215) 277-5770 or by sending an e-mail to sguber@faruqilaw.com Faruqi & Faruqi, LLP also encourages anyone with information regarding Costco’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Friday, September 11, 2015

Faruqi & Faruqi Investigation: Strategic Hotels & Resorts, Inc.



Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Strategic Hotels & Resorts, Inc. (“Strategic Hotels” or the “Company”) (NYSE:BEE) for potential breaches of fiduciary duties in connection with the sale of the Company to Blackstone Real Estate Partners VIII for approximately $6 billion in a cash transaction.
The Company’s stockholders will only receive $14.25 for each share of Company common stock they own. However, the offer is below the Company’s 52-week high and at least one analyst’s price target of $17.00 per share.
The investigation focuses on whether Strategic Hotels’ 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 Strategic Hotels’ shareholders.
If you own common stock in Strategic Hotels and wish to obtain additional information and protect your investments free of charge, please 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: Meredith Corporation


Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Meredith Corporation (“Meredith” or the “Company”) (NYSE:MDP) for potential breaches of fiduciary duties in connection with the sale of the Company to Media General, Inc. for approximately $3.1 billion.
The Company’s stockholders will only receive 1.5214 shares of a new holding company formed by Media General and $34.57 in cash for each share of Company common stock they own, or approximately $49.95 per share. However, the offer is below the Company’s 52-week high and at least one analyst’s price target of $58.00 per share.
The investigation focuses on whether Meredith’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 Meredith’s shareholders.
If you own common stock in Meredith and wish to obtain additional information and protect your investments free of charge, please fill 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: Baylake Corp.


Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Baylake Corp. (“Baylake” or the “Company”) (NASDAQ: BYLK) for potential breaches of fiduciary duties in connection with the sale of the Company to Nicolet Bankshares, Inc. for approximately $141 million. 
The Company’s stockholders will only receive 0.4517 shares of Nicolet common stock for each share of Baylake common stock held plus a cash dividend of $0.40 per share, or approximately $15.36. However, the offer has virtually no premium according to at least one analyst target price of $15.00 per share.
If you own common stock in Baylake and wish to obtain additional information and protect your investments free of charge, please 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: Carriage Services Inc.


Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential wrongdoing at Carriage Services Inc. ("Carriage" or the "Company") (NYSE: CSV).
The investigation focuses on whether the Company and its officers breached their fiduciary duties with respect to Carriage’s corporate governance controls.

Take Action
If you currently own Carriage stock and have continuously owned Carriage stock and would like to discuss your legal rights, please contact us by calling Nadeem Faruqi toll free at (212) 983-9330 or by sending an e-mail to nfaruqi@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Carriage’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Thursday, September 10, 2015

Faruqi & Faruqi Investigation: Con-way Inc.


Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Con-way Inc. (“Con-way” or the “Company”) (NYSE:CNW) for potential breaches of fiduciary duties in connection with the sale of the Company to XPO Logistics, Inc. for approximately $3 billion in a cash transaction. 
The Company’s stockholders will only receive $47.60 for each share of Company common stock they own. However, this offer is below the Company’s 52-week high and at least an analyst’s target price of $59.00 per share.
If you own common stock in Con-way and wish to obtain additional information and protect your investments free of charge, please 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: TECO Energy, Inc.

Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of TECO Energy, Inc. (“TE” or the “Company”) (NYSE:TE) for potential breaches of fiduciary duties in connection with the sale of the Company to Emera Inc. for approximately $10.4 billion in a cash transaction. 
The Company’s stockholders will only receive $27.55 for each share of Company common stock they own. However, the offer is below at least one analyst’s price target of $28.00 per share.
If you own common stock in TECO 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. 

Wednesday, September 9, 2015

Faruqi & Faruqi Investigation: Pericom Semiconductor Corp.


Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Pericom Semiconductor Corp. (“Pericom” or the “Company”) (NasdaqGS:PSEM) for potential breaches of fiduciary duties in connection with the sale of the Company to Diodes Corporation for approximately $400 million in a cash transaction.
The Company’s stockholders will only receive $17.00 for each share of Company common stock they own. However, the offer represents an inadequate premium compared to the 52-week high of $16.95.
If you own common stock in Pericom and wish to obtain additional information and protect your investments free of charge, please 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: Millennial Media Incorporated



Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Millennial Media Incorporated (“Millennial Media” or the “Company”) (NYSE:MM) for potential breaches of fiduciary duties in connection with the sale of the Company to AOL for approximately $238 in a cash transaction. 
The Company’s stockholders will only receive $1.75 for each share of Company common stock they own. However, the offer is significantly below the target price of $2.15 set by an analyst at Canaccord Genuity on August 10, 2015.
If you own common stock in Millennial Media and wish to obtain additional information and protect your investments free of charge, please 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. 

Thursday, September 3, 2015

Faruqi & Faruqi Investigation: Fuel Systems Solutions, Inc.


Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Fuel Systems Solutions, Inc. (“Fuel Systems” or the “Company”) (NasdaqGS: FSYS) for potential breaches of fiduciary duties in connection with the sale of the Company to Westport Innovations Inc. for approximately $134 million in a stock transaction.
The Company’s stockholders will only receive 2.129 Westport shares for each share of Company common stock they own, or about $7.26 per share at closing price on September 2, 2015. However, at least one Wall Street analyst has issued a price target for Fuel Systems stock at $11.00 per share
If you own common stock in Fuel Systems 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: Synergetics USA, Inc.


Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Synergetics USA, Inc. (“Synergetics” or the “Company”) (NASDAQ:SURG) for potential breaches of fiduciary duties in connection with the sale of the Company to Valeant Pharmaceuticals for approximately $166 million in a cash transaction. 
The Company’s stockholders will only receive $6.50 for each share of Company common stock they own. However, the offer is virtually no premium over the 52-week high.
If you own common stock in Synergetics 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: Blyth, Inc.



Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Blyth, Inc.  (“Blyth” or the “Company”) (NYSE:BTH) for potential breaches of fiduciary duties in connection with the sale of the Company to The Carlyle Group LP for approximately $98 million in a cash transaction.
The Company’s stockholders will only receive $6.00 for each share of Company common stock they own. However, the offer represents an inadequate premium since it is lower than both the 52-week high of $10.27 per share and considerably lower than at least one Wall Street analyst price target of $40.00 per share
If you own common stock in Blyth 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. 

Wednesday, September 2, 2015

Faruqi & Faruqi Alert: MaxPoint Interactive, Inc.


Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in MaxPoint Interactive, Inc. (“MaxPoint” or the “Company”) (NYSE:MXPT) of the October 30, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.
A 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 MaxPoint securities pursuant to the Company’s initial public offering (“IPO”) on March 6, 2015.
The complaint alleges that the Company and its executives violated federal securities laws by failing to disclose that: (1) over two-thirds of the Company’s sales were coming from a small group of only 50 customers whose budgetary restraints significantly affected the Company’s growth; and (2) its sales growth was declining in the months leading up to the IPO due to the acquisition of smaller customers with reduced advertising budgets.
As this information has gradually become available, MaxPoint’s share price has fallen from an IPO price of $11.50 per share on March 6, 2015, to a closing price of $4.51 per share on September 1, 2015—a drop of $6.99 or over 60%.
Take Action
If you invested in MaxPoint stock or options and would like to discuss your legal rights, please fill out the form below. You can also 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 MaxPoint’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Tuesday, September 1, 2015

Faruqi & Faruqi Investigation: CA, Inc.


Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential misconduct at CA, Inc. (“CA” or the “Company”).
The investigation focuses on the role of the Company’s officers and directors in defrauding the General Services Administration (“GSA”) and other federal agencies in connection with the defective pricing of computer software products and maintenance.   Specifically it has been alleged that the Company provided inaccurate commercial discounting information to the GSA during contract negotiations and that, as a result, the GSA’s contract discount was lower than it otherwise would have been. In addition, it is alleged that the Company failed to apply the full negotiated discount in some instances and to pay sufficient rebates pursuant to the contract’s price reduction clause.
As a result of these allegations, the Company now faces a whistleblower suit in which the plaintiff seeks excess of $100 million. Additionally, the GSA, based on these allegations issued a show cause letter to the Company, which may result in CA becoming ineligible from receiving any future government contracts. Government contracts account for 8% of the Company’s revenue and their termination “could materially adversely affect [the Company’s] business, financial condition, operating results and cash flow” according to the Company’s most recent annual report.
Take Action
If you currently own CA stock and would like to discuss your legal rights, please contact us by calling Stuart Guber toll free at (215) 277-5770 or by sending an e-mail to sguber@faruqilaw.comFaruqi & Faruqi, LLP also encourages anyone with information regarding CA’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Faruqi & Faruqi Investigation: Amazon.com, Inc.


Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential misconduct at Amazon.com, Inc. (“Amazon” or the “Company”).
The investigation focuses on the role of the Company’s officers and directors in billing parents and other account holders for millions of dollars in unauthorized in-app charges incurred by children.  In 2011, the FTC initiated an investigation of various companies’ mobile-app sales practices after receiving complaints from parents that their children were making “unauthorized” purchases on mobile app stores.  Unlike Apple and Google, who both agreed to settle with the FTC over charges that its in-app purchase process constituted an unfair business practice under § 5 of the FTC Act, Amazon refused to settle the charges, prompting the FTC to file suit on July 10, 2014. 
According to the FTC’s complaint against Amazon, the FTC alleged that Amazon violated the FTC Act by billing parents and other Amazon account holders for charges incurred by their children without the permission of the parent or other account holder.   The complaint alleges that when Amazon introduced in-app charges to the Amazon Appstore in November 2011, there were no password requirements of any kind on in-app charges, including in kids’ games and other apps that appeal to children. According to the complaint, this left parents to foot the bill for charges they didn’t authorize.  The complaint highlights internal communications among Amazon employees as early as December 2011 that said allowing unlimited in-app charges without any password was “…clearly causing problems for a large percentage of our customers,” adding that the situation was a “near house on fire.”  Although Amazon moved to dismiss the complaint, on December 1, 2014, Judge John C. Coughenour denied Amazon’s motion, stating that Amazon may still have violated federal laws against unfair billing, whether the charges were unauthorized or not.
Take Action
If you currently own Amazon stock and would like to discuss your legal rights, please contact us by calling Stuart Guber toll free at (215) 277-5770 or by sending an e-mail to sguber@faruqilaw.comFaruqi & Faruqi, LLP also encourages anyone with information regarding Amazon’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.