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Izard Nobel LLP Announces Class Action Lawsuit
Law & Court News |
2011/11/07 12:32
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The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Northern District of California on behalf of purchasers of the common stock of OmniVision Technologies, Inc. between August 27, 2010 and October 13, 2011, inclusive.
The Complaint charges that OmniVision and certain of its officers and directors violated federal securities laws by concealing the loss of its exclusive contract with Apple. On August 25, 2011 OmniVision disclosed delays in the production of its new 8-megapixel product line. As a result, OmniVision would not be the exclusive producer of camera components for Apple's new iPhone 4S, released on October 14, 2011. In response to this news, OmniVision stock declined $7.55 per share, over 30%, to close at $17.27 on August 26, 2011. On October 14, 2011, when the iPhone 4S was released, experts examined the phone's camera and determined that Sony, not Omnivision, had supplied a key component. On this confirmation of the reduced role of the Company's components in the iPhone 4S, OmniVision stock fell $1.65 per share, or 9.3%, to close at $15.95 per share.
If you are a member of the class, you may, no later than December 27, 2011, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.
While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, and your rights, visit: www.izardnobel.com/omnivision/, or contact Izard Nobel LLP toll-free: (800)797-5499, or by e-mail: firm@izardnobel.com. For more information about class action cases in general, please visit our website: www.izardnobel.com. |
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Court won't hear 'Ghost Hunters' appeal
Law & Court News |
2011/11/07 12:30
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The Supreme Court won't hear an appeal from some television networks being sued by a paranormal investigator who claims his idea was stolen and turned into the television show Ghost Hunters.
Without comment, the court turned away an appeal from NBC Universal, Inc., Universal Television Networks and Pilgrim Films amp; Television, Inc.
Parapsychologist Larry Montz and producer Daena Smoller unsuccessfully shopped around an idea for a show about paranormal investigators in 1981. Ghost Hunters appeared on the Sci Fi Channel — now known as SyFy — in 2004.
Montz and Smoller sued in federal court. The courts threw out their copyright claims, but the 9th U.S. Circuit Court of Appeals agreed that they could sue for breach of an implied contract and breach of confidence claims. |
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Ex-owner of Pa. youth lockups gets 18 months
Law & Court News |
2011/11/04 09:00
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The former owner of two juvenile detention facilities was sentenced Friday to 18 months in prison for his role in a kickback scheme that led the state Supreme Court to vacate the convictions of thousands of juveniles who appeared before a now-jailed Pennsylvania judge.
Robert Powell pleaded guilty in 2009 to concealing a felony and an accessory charge in the so-called kids for cash scandal.
Powell testified earlier this year that he was forced to pay hundreds of thousands of dollars to former Luzerne County Judges Mark Ciavarella Jr. and Michael Conahan in return for their support of his two private juvenile detention facilities.
Powell said the judges extorted more than $725,000 from him after they shut down the county-run detention center and instead sent juveniles to his new lockup outside the city of Wilkes-Barre.
Sentencing guidelines call for a punishment of between 27 to 33 months in prison, but Powell was given credit for cooperating with the government.
When Powell became aware he was a target of the investigation, he approached prosecutors and offered to provide details of the scheme. |
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Court tosses $43M award against Ford in crash case
Law & Court News |
2011/11/04 08:59
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The Illinois Supreme Court has thrown out an Illlinois jury's $43 million award against Ford Motor Co. in a product-liability lawsuit linked to a fiery 2003 crash that killed a Missouri man and disfigured his wife.
The high court, in a Sept. 22 ruling made public Wednesday, among other things found that the lawsuit on Dora and John Jablonski's behalf did not give sufficient evidence for a jury to conclude Ford negligently breached its duty of reasonable care in designing the Lincoln Town Car involved in the wreck.
Justices also found that Illinois law does not require a company to warn of defects undetected before the product left the manufacturer.
Pinning the tragic wreck on the distracted motorist who hit the Jablonskis from behind at 60 mph, Ford said in an emailed statement Thursday it was gratified by the Illinois Supreme Court's ruling that recognized and corrected the substantial efforts and deficiencies in the earlier proceedings.
The automaker said the 1993 Town Car exceeded all federal crash safety standards and received a five-star safety rating — the highest possible — from the U.S. government. |
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High court reinstates 'shaken baby' conviction
Law & Court News |
2011/10/31 08:38
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The Supreme Court has again reinstated the conviction of a California woman for shaking her 7-week-old grandson to death, a final ruling that ends a protracted dispute with the federal appeals court in San Francisco.
The justices voted 6-3 Monday to reverse the 9th U.S. Circuit Court of Appeals' ruling in favor of Shirley Ree Smith. The appeals court had three times set aside Smith's conviction, saying the case likely was a miscarriage of justice. The appeals court said there was no demonstrable support for the prosecution's theory of the case.
But the high court said that even though doubts about Smith's guilt are understandable, the appeals court should have deferred to state courts that upheld Smith's conviction.
Justices Stephen Breyer, Ruth Bader Ginsburg and Sonia Sotomayor dissented.
Ginsburg, writing for the dissenters, said the court should have passed up the chance to teach the 9th Circuit a lesson in a tragic case.
What is now known about shaken baby syndrome casts grave doubt on the charge leveled against Smith; and uncontradicted evidence shows that she poses no danger whatever to her family or anyone else in society, Ginsburg said. |
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