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Law Firm Brower Piven Announces Investigation
Legal Network |
2012/01/30 21:17
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The law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of The Pep Boys -- Manny, Moe & and other violations of state law by the board of directors of Pep Boys relating to the proposed acquisition of the company by The Gores Group. The firm’s investigation seeks to determine, among other things, whether the board breached its fiduciary duties by failing to maximize shareholder value.
On January 30, 2012, Pep Boys announced that it had entered into a definitive merger agreement providing for Gores Group to acquire Pep Boys for $1 billion. Under the terms of the merger agreement, Pep Boys shareholders will receive $15.00 for each share of Pep Boys common stock held. However, according to Yahoo! Finance, at least one analyst has set a high price target of $17.00 per share.
If you currently own shares of Pep Boys and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at hoffman@browerpiven.com, by calling (410) 415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years. |
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Eugene Criminal Defense - MJM Law Office, P.C.
Blog News |
2012/01/30 21:17
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MJM Law Office, P.C. was founded to provide clients with quality representation in criminal defense and family law, including matters such as DUI offenses, drug crimes, divorce, and child custody.
Mr. Mizejewski understands that effectively working through the legal system is a challenging process. MJM Law Office, P.C. works closely with clients to understand and resolve their issues, taking the time to listen to and understand each client's unique situation, and explain the available options.
Located in the heart of downtown Eugene, Oregon, MJM Law Office, P.C. focuses on serving clients in Lane County, Oregon. We are in the Lane County Circuit Court on a near daily basis, and are very familiar with the individual judges, district attorneys and court staff.
http://www.mjmlawoffice.com/criminal-law |
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Iowa mom pleads not guilty in newborn twins' death
Court Watch |
2012/01/30 18:18
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A Huxley woman accused of killing her newborn twin daughters and hiding their bodies in the trunk of her car has pleaded not guilty.
Jackie Burkle is charged with two counts of first-degree murder. She is being held on $1 million bond.
Her attorney entered a written plea of not guilty on her behalf Monday morning in Story County District Court in Nevada.
Police found the infants' bodies in the trunk of Burkle's car on Jan. 7 after receiving a call to check on her.
Court records show Burkle appeared pregnant at work at a Huxley convenience store Jan. 5. She no longer looked pregnant two days later, prompting a co-worker to call police.
Police have not released a cause of death or why Burkle gave birth at home. |
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Robbins Geller Rudman & Dowd LLP Files Class Action Suit
Press Release |
2012/01/26 20:43
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Robbins Geller Rudman & Dowd LLP today announced that a class action has been commenced on behalf of an institutional investor in the United States District Court for the District of Kansas on behalf of purchasers of Collective Brands, Inc. common stock during the period between December 1, 2010 and May 24, 2011.
If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Darren Robbins of Robbins Geller at 800/449-4900 or 619/231-1058, or via e-mail at djr@rgrdlaw.com. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.rgrdlaw.com/cases/collectivebrands/. 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.
The complaint charges Collective Brands and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Collective Brands is the holding company for three lines of business: Payless ShoeSource (“Payless”), Collective Brands Performance + Lifestyle Group (“PLG”), and Collective Licensing. The Company was formerly known as Payless ShoeSource, Inc. and changed its name to Collective Brands in August 2007.
The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company’s business and financial results. As a result of defendants’ false statements, Collective Brands stock traded at artificially inflated prices during the Class Period, reaching a high of $23.44 per share on February 18, 2011.
On May 24, 2011, after the market closed, the Company announced its financial results for its first fiscal quarter ended April 30, 2011. The Company reported earnings of $26.4 million or $0.42 diluted earnings per share for the first quarter, which was nearly 50% less than the $0.82 diluted earnings per share expected by analysts. The Company further reported that net sales declined 1.1% to $869.0 million, due in substantial part to the Company’s 7.4% comparable store sales decline in its Payless domestic segment, offset by sales growth of 22.5% in PLG. On this news, Collective Brands stock collapsed $3.06 per share to close at $15.31 per share on May 25, 2011, a one-day decline of nearly 17%.
According to the complaint, the true facts, which were known by defendants but concealed from the investing public during the Class Period, were as follows: (a) the Company’s inventory level for Payless remained at excessively high levels and aging inventory for its Payless segment was a concern; (b) sales at the Company’s flagship Payless stores were significantly worse than expected due to deteriorating customer demand; and (c) the Company was forced to mark down Payless’s bloated inventory at significant discounts, which adversely affected the Company’s margins and financial results for its first quarter.
Plaintiff seeks to recover damages on behalf of all purchasers of Collective Brands common stock during the Class Period (the “Class”). The plaintiff is represented by Robbins Geller, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.
http://www.rgrdlaw.com |
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