A judge on Delaware's Court of
Chancery, which is often called on to review Wall Street mergers for potential
conflicts and shoddy advice, on Tuesday singled out a valuation analysis by
Grant Thornton as "a new low" for deal-related work.
Vice Chancellor Travis
Laster blasted Grant Thornton's work in an opinion on Tuesday in a class action
lawsuit by option holders against Caris Life Sciences Inc over its sale in
2011.
Laster found the tax advisory firm
largely cribbed a report from rival
PricewaterhouseCoopers, made
"significant errors" on the work it did do and abandoned its prior
valuation method to come up with numbers to satisfy a top Caris executive.
Grant Thornton in a statement said,
"We stand behind the work we performed at the client’s request and based
upon the information provided to us by the client."
NEW YORK (Legal Newsline) - Last month, a New York woman
agreed to settle a class action lawsuit she filed in January over a serum that
she claimed did nothing to enhance her breasts.
Judge Paul Engelmayer for the U.S. District Court for the Southern District of New York signed a notice of dismissal in plaintiff Raisbel Pena’s case against Talika USA June 9.
Pena’s lawsuit, originally filed in January, claimed Talika’s product, Talika Bust Serum 2.0, did not bring the results promised by the defendant’s marketing campaign.
According to the complaint, Pena bought a $60 bottle and used it as directed for six weeks, but “did not observe any physical alteration (either growth in volume, change in contour, firmness or lift) of her breasts.”
Judge Paul Engelmayer for the U.S. District Court for the Southern District of New York signed a notice of dismissal in plaintiff Raisbel Pena’s case against Talika USA June 9.
Pena’s lawsuit, originally filed in January, claimed Talika’s product, Talika Bust Serum 2.0, did not bring the results promised by the defendant’s marketing campaign.
According to the complaint, Pena bought a $60 bottle and used it as directed for six weeks, but “did not observe any physical alteration (either growth in volume, change in contour, firmness or lift) of her breasts.”
On Tuesday, July 21, 2015, D.C. Superior Court
Judge Robert Okun issued a final order in favor of DC homeless families in the
class action Melvern Reid v. District of Columbia. The class action was filed
in the winter of 2013-2014 in response to the Gray
Administration's placement of homeless families
in recreation centers, which the families alleged, and the court
agreed, put them at risk of serious harm and violated their rights to be placed
in apartment-style or private room shelters under the Homeless Services Reform
Act.
Judge Okun issued a permanent injunction that
requires DC to place all eligible homeless families in apartment-style shelter
when the temperature falls below freezing. If no apartment-style shelter is
available, DC must place families in private rooms, which are defined in the
order. This court order will be displayed at the centralized intake center for
homeless families (the Virginia Williams Family Resource Center). Lawyers for
homeless families must be allowed into the intake center while families are
there to monitor DC's compliance and advise families about their legal rights.
Finally, DC is required to give written notice "as far in advance as
possible" if it is in danger of violating the court order
A class-action lawsuit in California
could rattle the fertility industry. Two donors claim fertility clinics
conspired to limit their compensation to $10,000, an allegation CBS News legal
expert Rikki Klieman said on one hand speaks to unlawful price-fixing, but on
the other, raises ethical concerns.
"If you just read the paperwork
and nothing else, it doesn't mean they win, but the paperwork is a pretty good
complaint by the law of antitrust," Klieman said Tuesday on "CBS This
Morning."
A group of pension funds and other
institutional shareholders can pursue a class-action lawsuit against Halliburton
Co., a U.S. District Court in Dallas ordered July 27.
After two trips to the Supreme Court over the issue of whether
loss causation and other factors affecting stock prices had to be shown at the
class certification stage, the case — Erica P. John Fund Inc. vs. Halliburton
Co. — is back before District Judge Barbara Lynn.
Ms. Lynn denied the plaintiffs’ motion for class certification
on five Halliburton corrective disclosures that they claimed caused the stock
price to drop, but allowed a class action to proceed on one disclosure that
followed the Dec. 7, 2001, settlement of a Baltimore asbestos lawsuit against
Halliburton affiliate Dresser, that caused a one-day stock drop of 40%.
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