Phil Law Weblog

Northwestern Mutual Life Insurance Co has agreed to come to a settlement in a lawsuit against a customer. The lawsuit, filed four years ago accused the company of failure to pay dividends on certain term life policies and using improper sales and marketing practices.

Finally the lawsuit filed by the U.S. Equal Employment Opportunity Commission against the University of Phoenix has come to a settlement. The University of Phoenix and its parent company will pay $1.88 million for the settlement.

US based company Noah Education Holdings Ltd is likely to face a class action lawsuit from all the purchasers of its American Depository Shares. Wolf Haldenstein Adler Freeman & Herz LLP has filed the lawsuit on behalf of all who purchased the share from the date of the Company’s public offering on October 18, 2007, [...]

Discover Financial Services Inc is likely to head to a better future and then too in the time of such a global economic meltdown. Day after the company has announced that it will receive a settlement worth $2.75 billion from MasterCard Inc. and Visa Inc, its share rosed high.

The lawsuit between the R.J. Reynolds Tobacco Co. and its 3,500 employees, has gained the class action at a a federal District Court today. The lawsuit was filed in May 2002 by Richard Tatum of Winston-Salem in federal court in Greensboro.The lawsuit alleges that Reynolds failed to live up to its duty as trustee [...]

Opes Prime Stockbroking Ltd is to face class action once again. Melbourne-based Slater and Gordon has re-opened its $100 million class action against Opes Prime Stockbroking Ltd and its creditors ANZ Banking Group Ltd (ANZ) and Merrill Lynch.

It seems that GPT Group have to pay a good price for its own deeds.This struggling property company faces shareholder class action lawsuit over alleged misleading and deceptive statements about its rocky financial health. News of the class action lawsuit broke yesterday after GPT released details of its capital raising and management restructure.

A shareholder law suit is been filed against Fortis Company and some of their officers and directors alleging that the defendants had issued materially false and misleading statements regarding Fortis business and financial which has led to artificial inflation of the market price.

Harris Stratex Networks Inc.faces a class action lawsuit in the United States District Court for the District of Delaware. The lawsuit charges the company and some of its officers and directors of violating the securities law.

US based Medical device maker Spectranetics Corp.faces a shareholder class action lawsuit in the United States District Court for the District of Colorado. The lawsuit accuses the company and two of its top executives.