Phil Law Weblog

The state of Maryland, filed suit yesterday against Exxon Mobil Corp. and a local service station operator for a major gasoline leak that officials say has fouled well water in the Jacksonville area of Baltimore County, seeking nearly $12 million in penalties.

A settlement agreement under which KongZhong (KONG) will pay US$3.5 million to resolve a securities class action arising out of the company’s 2004 initial public offering has been approved by the United States District Court for the Southern District of New York.

A lawsuit seeking class action status has been filed in the United States District Court for the Southern District of New York on behalf of all persons who purchased or otherwise acquired the publicly traded securities of Fairfax Financial Holdings, Ltd. (”Fairfax” or the “Company”) (NYSE:FFH) between March 24, 2004 and March 22, 2006, inclusive, [...]

A lawsuit seeking class action status has been filed in the United States District Court for the Eastern District of Louisiana by the law firm of Schatz & Nobel, P.C. on behalf of all persons who purchased or otherwise acquired the publicly traded securities of Newpark Resources, Inc. (”Newpark” or the “Company”) (NYSE:NR) between February [...]

Circuit Judge Eden Hifo approved $1.8 million settlement for a class action lawsuit which alleged Hilton didn’t disclose the presence of mold contamination in the hotel’s Kalia Tower guest rooms between June 14th and July 23rd, 2002.

Detailed information of the prosecution, defense, and settlement of federal class action securities fraud litigation are being provided by the Securities Class Action Clearinghouse and an Index of Filings of 2392 issuers that have been named in federal class action securities fraud lawsuits since passage of the Private Securities Litigation Reform Act of 1995 is [...]

Chemical tests revealed that benzene, a cancer-causing chemical, is present in bottled drinks. A Boston law firm filed a class action lawsuit against two beverage companies alleging that their drinks have more benzene than the Environmental Protection Agency allows for water.

Freddie Mac has agreed to settle class action and shareholder lawsuits which was filed after its accounting problems for $410 million, reducing first-quarter 2005 earnings by about $220 million after tax.

Dollar Financial Corp. has agreed to settle three class action lawsuits in California. The lawsuits were regarding its financial treatment of some managers.

A class action lawsuit was filed on April 7, 2006 in the United States District Court for the Eastern District of New York against American International Group, Inc. and certain of its affiliates, on behalf of those who purchased Oppenheimer mutual funds from the AIG Advisor Group (as defined below) during the period between June [...]