Saturday, February 18, 2006

CLASS ACTION LAWSUIT AGAINST NVE CORPORATION

The law firm of Schatz & Nobel, P.C., 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 District of Minnesota on behalf of all persons who purchased or otherwise acquired the common stock of NVE Corporation (“NVE” or the “Company”) (NASDAQ: NVEC) between May 22, 2003 and February 11, 2005, inclusive, (the “Class Period”).
The Complaint alleges that defendants violated federal securities laws by issuing a series of materially false statements regarding NVE’s business condition. Specifically defendants made misrepresentations concerning the Company’s projected revenues and the potential of Magnetic Random Access Memories (“MRAM”) technology. As a result of defendants’ positive statements, the market price of NVE’s shares was artificially inflated throughout the Class Period. If you are a member of the class, you may, no later than April 11, 2006, 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, including decisions concerning settlement. The securities laws require the Court to consider the class member(s) with the largest financial interest as presumptively the most adequate lead plaintiff(s).
While Schatz & Nobel 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, class action cases in general, and your rights, please contact Schatz & Nobel toll-free at (800) 797-5499, or by e-mail at sn06106@aol.com, or visit our website: www.snlaw.net.

CLASS ACTION LAWSUIT AGAINST THE MILLS CORP

The law firm of Schatz & Nobel, P.C., 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 Eastern District of Virginia on behalf of all persons who acquired the publicly traded securities of The Mills Corp. (“Mills” or the “Company”) (NYSE: MLS) between August 14, 2003 and January 6, 2006, inclusive, (the "Class Period").
The Complaint alleges defendants violated federal securities laws by issuing a series of materially false statements regarding Mills’ financial condition. Specifically, defendants failed to disclose that: (i) Mills’ accounting treatment with respect to its MEI subsidiary was inappropriate; (ii) Mills mismatched the accrual of its Long Term Incentive Plan (“LTIP”) liabilities with employee service periods; (iii) ten of the Company's pre-development projects were failing and needed to be written-off; and (iv) the Company's financial statements were not prepared in accordance with Generally Accepted Accounting Principles (“GAAP”).
On October 31, 2005, Mills announced that its third quarter results would be delayed because the company needed additional time to review its accounting, and that the Company expected results to be lower than initially anticipated. Then on November 9, 2005, Mills announced poor financial results, with Funds From Operations declining 35%, and numerous write offs for previously undisclosed projects. Mills also announced that several top-level executives had announced plans to leave the Company. Finally, on January 6, 2006, Mills announced that it would be restating its financial results from 2000 through 2004, and the first nine months of 2005 primarily related to inappropriate accounting at its MEI subsidiary and to correct accounting for long term incentive compensation. In addition, Mills would write-off ten pre-development projects, and would take a charge of $71 million.
If you are a member of the class, you may, no later than March 20, 2006, 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, including decisions concerning settlement. The securities laws require the Court to consider the class member(s) with the largest financial interest as presumptively the most adequate lead plaintiff(s).
While Schatz & Nobel 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, class action cases in general, and your rights, please contact Schatz & Nobel toll-free at (800) 797-5499, or by e-mail at sn06106@aol.com, or visit our website: www.snlaw.net.

CLASS ACTION LAWSUIT AGAINST JARDEN CORP

The law firm of Schatz & Nobel, P.C., 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 Southern District of New York on behalf of all persons who purchased or acquired the publicly traded securities of Jarden Corp. (“Jarden” or the “Company”) (NYSE: JAH) between June 29, 2005 and January 11, 2006, inclusive, (the "Class Period"). Also included are all those who acquired Jardin through its acquisition of Holmes Group, Inc. ("Holmes") .
The Complaint alleges defendants violated federal securities laws by issuing a series of materially false statements regarding Jarden’s financial condition. Specifically, defendants failed to disclose the following: (i) that the merger between Jarden and Holmes was plagued by integration problems; (ii) that the statements concerning growth from the Holmes acquisition were inherently unreliable because Holmes had no reasonable way to repeat its performance in 2005 due to the loss of tens of million of dollars in revenue from a deal Holmes had with Procter & Gamble; and (iii) that Jardin’s statements concerning the Holmes acquisition were based on overly optimistic forecasts. On January 12, 2006, prior to the opening of the market, Jarden provided a business update for fiscal 2005 as well as its outlook for fiscal 2006. Therein, the Company stated that Holmes' profit margins and product mix were not what the market had been led to expect. On this news, shares of Jarden fell $3.37 per share, or 11%, to close at $27.05 per share on January 12, 2006. If you are a member of the class, you may, no later than April 4, 2006, 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, including decisions concerning settlement. The securities laws require the Court to consider the class member(s) with the largest financial interest as presumptively the most adequate lead plaintiff(s).
While Schatz & Nobel 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, class action cases in general, and your rights, please contact Schatz & Nobel toll-free at (800) 797-5499, or by e-mail at sn06106@aol.com, or visit our website: www.snlaw.net.

CLASS ACTION LAWSUIT AGAINST IMPAC MORTGAGE HOLDINGS, INC

The law firm of Schatz & Nobel, P.C., 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 Central District of California on behalf of all persons who purchased the publicly traded securities of Impac Mortgage Holdings, Inc. (“Impac” or the “Company”) (NYSE: IMH) between May 13, 2005 and August 9, 2005, inclusive (the “Class Period”).
The Complaint alleges that defendants violated federal securities laws by issuing a series of materially false statements concerning Impac’s business condition. Specifically, defendants failed to disclose and misrepresented the following facts: (i) that Impac lacked an adequate internal controls system and was not able to determine its true financial condition; (ii) that the Company's quarterly guidance concealed the Company's true financial standing; and (iii) as a result of the foregoing, the Company's statements with respect to its future prospects lacked any reasonable basis. Rather than disclose this adverse information to investors, Impac insiders, including defendants, took the opportunity to sell more than 300,000 shares of their personally held Company stock, reaping more than $5.5 million in proceeds.
On August 9, 2005, Impac announced a net loss of $55 million, or $(0.78) per share, compared to a profit of $143.2 million, or $2.17 per share, and forecasted a reduced dividend of $0.50 to $0.60 per share versus its previous dividend of $0.75 per share. On this news, Impac shares fell 14.6% from $16.37 per share to $13.98 per share.
If you are a member of the class, you may, no later than March 13, 2006, 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, including decisions concerning settlement. The securities laws require the Court to consider the class member(s) with the largest financial interest as presumptively the most adequate lead plaintiff(s).
While Schatz & Nobel 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, class action cases in general, and your rights, please contact Schatz & Nobel toll-free at (800) 797-5499, or by e-mail at sn06106@aol.com, or visit our website: www.snlaw.net.

CLASS ACTION LAWSUIT AGAINST DOT HILL SYSTEMS CORP.

The law firm of Schatz & Nobel, P.C., 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 Southern District of California on behalf of all persons who purchased the common stock of Dot Hill Systems Corp (“Dot Hill” or the “Company”) (NASDAQ: HILL) between April 23, 2003 and February 3, 2005, inclusive, (the “Class Period”). Also included are those who purchased in a secondary offering on or around September 17, 2003.
The Complaint alleges defendants violated federal securities laws by issuing a series of materially false statements. Specifically, defendants concealed the following: (i) the Company's accounting department suffered from material weaknesses and deficiencies and lacked the necessary staff and resources to perform its required functions; (ii) the Company's inadequate internal accounting process and controls enabled Dot Hill management to manipulate the Costs of Goods Sold and routinely and inappropriately misclassify “expenses”; (iii) the Company lacked effective internal controls in its financial reporting process; and (iv) the Company falsely reported its Q1-Q3 04 financial results by improperly recognizing revenue and by improperly recording expenses.
On February 3, 2005, the Company announced its preliminary Q4 04 financial results and that it would be restating its 2004 unaudited financial results due to a data entry error that the Company attributed to material weaknesses in its internal controls. The Company also stated that it had “identified other errors pertaining to the quarters ended March 31, 2004, June 30, 2004 and September 30, 2004 that it deems immaterial, including: the incorrect classification of certain product costs as operating expenses, the failure to eliminate corresponding revenue and cost of goods sold entries and the presence of duplicate entries.”
If you are a member of the class, you may, no later than April 3, 2006, 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, including decisions concerning settlement. The securities laws require the Court to consider the class member(s) with the largest financial interest as presumptively the most adequate lead plaintiff(s).
While Schatz & Nobel 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, class action cases in general, and your rights, please contact Schatz & Nobel toll-free at (800) 797-5499, or by e-mail at sn06106@aol.com, or visit our website: www.snlaw.net.

CLASS ACTION LAWSUIT AGAINST THE COOPER COMPANIES, INC

The law firm of Schatz & Nobel, P.C., 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 Central District of California on behalf of all persons who purchased or acquired the publicly traded securities of The Cooper Companies, Inc. (“Cooper” or the “Company”) (NYSE: COO) between July 29, 2004 and November 21, 2005, inclusive, (the "Class Period"). Also included are all those who acquired Cooper through its acquisition of Ocular Sciences, Inc. ("Ocular").
The Complaint alleges defendants violated federal securities laws by issuing a series of materially false statements regarding Cooper’s business condition. Specifically, defendants failed to disclose that: (i) Cooper improperly accounted for assets acquired in the Ocular merger, as reported in the Proxy Statement, by misclassifying intangible assets as tangible, which had the effect of lowering amortization expense; (ii) Cooper’s aggressive earnings guidance reflected the improper accounting for intangible assets and was inflated by the amount of the understated amortization expense; (iii) the merger synergies touted by defendants were unrealistic; (iv) Ocular had stuffed the channel with its Biomedics products; (v) Cooper's lack of a two-week silicone hydrogel product would prevent it from meeting its aggressive growth targets for 2005 and beyond, contrary to defendants' repeated representations that the Company's Proclear product was competing favorably against the silicone hydrogel products; and (vi) Cooper and Ocular in fact competed in the two-week lens market.
When the truth emerged on November 21, 2005 and November 22, 2005, Cooper fell $21 per share, or 29%, to close at $51.47 per share on November 22, 2005. During the Class Period, insiders sold 1,970,233 shares of common stock for proceeds of $141,492,613.
If you are a member of the class, you may, no later than April 17, 2006, 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, including decisions concerning settlement. The securities laws require the Court to consider the class member(s) with the largest financial interest as presumptively the most adequate lead plaintiff(s).
While Schatz & Nobel 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, class action cases in general, and your rights, please contact Schatz & Nobel toll-free at (800) 797-5499, or by e-mail at sn06106@aol.com, or visit our website: www.snlaw.net.

CLASS ACTION LAWSUIT AGAINST AMKOR TECHNOLOGY, INC

The law firm of Schatz & Nobel, P.C., 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 Eastern District of Pennsylvania on behalf of all persons who purchased the common stock of Amkor Technology, Inc. (“Amkor” or the “Company”) (NASDAQ: AMKR) between October 27, 2003 and July 1, 2004 , inclusive, (the “Class Period”). Also included are those who purchased Amkor in a secondary offering on November 6, 2003.
The Complaint alleges that defendants violated federal securities laws by issuing a series of materially false statements regarding Amkor’s financial condition. Specifically, defendants failed to disclose the following: (i) that Amkor was stuffing its customers with inventory far in excess of demand and, as a result, future sales would be impacted; (ii) that Amkor was experiencing rapidly rising material costs which were far in excess of budgeted material costs, thereby negatively impacting profit margins; and (iii) that Amkor had stuffed its distribution channels prior to its note offering in order to artificially inflate the Company's operating results so that the Company could raise $152 million.
On April 27, 2004, Amkor issued a press release announcing that the Company was experiencing weakness for its cell phone products. On this news, Amkor common stock fell from $13.42 to $9.16 per share. Then, on July 1, 2004, Amkor announced that it could not meet its expected guidance for net income in the second quarter of 2004. In response to this announcement, the price of Amkor common stock declined from $8.18 to $5.79 per share. The Securities and Exchange Commission (“SEC”) has also issued a formal order of investigation concerning certain transactions in the Company’s securities by insiders or former insiders and persons associated with them.
If you are a member of the class, you may, no later than March 24, 2006, 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, including decisions concerning settlement. The securities laws require the Court to consider the class member(s) with the largest financial interest as presumptively the most adequate lead plaintiff(s).
While Schatz & Nobel 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, class action cases in general, and your rights, please contact Schatz & Nobel toll-free at (800) 797-5499, or by e-mail: sn06106@aol.com , or visit our website: www.snlaw.net.

CLASS ACTION LAWSUIT AGAINST APPLICA INCORPORATED

The law firm of Schatz & Nobel, P.C., 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 Southern District of Florida on behalf of all persons who acquired the common stock of Applica Incorporated (“Applica” or the “Company”) (NYSE: APN) between November 4, 2004 and April 28, 2005, inclusive, (the "Class Period").
The Complaint alleges defendants violated federal securities laws by issuing a series of materially false statements regarding Applica’s financial condition. Specifically, defendants failed to disclose that: (i) Applica was experiencing decreasing demand for its products. In particular, Tide(TM) Buzz(TM) Ultrasonic Stain Remover and Home Cafe(TM) single cup coffee maker, were not meeting internal expectations; (ii) Applica was materially overstating its net worth by failing to timely write down the value of its inventory which had become obsolete and unsaleable; (iii) Applica was experiencing higher product warranty returns, which it had not appropriately reserved for; and (iv) Applica's financial statements issued during the Class Period were not prepared in accordance with Generally Accepted Accounting Principles ("GAAP") and therefore were materially false and misleading.
The Complaint further alleges that, on April 20, 2005, defendants revealed that the Company would not come near achieving the guidance they had previously sponsored and/or endorsed, that Applica’s business was suffering from numerous adverse factors and that the Company was marking down inventory and experiencing increased warranty expenses. Then, on April 28, 2005, defendants further detailed the impact of these adverse factors on Applica's business. These belated disclosures had an immediate, adverse impact on the price of Applica shares.
If you are a member of the class, you may, no later than April 4, 2006, 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, including decisions concerning settlement. The securities laws require the Court to consider the class member(s) with the largest financial interest as presumptively the most adequate lead plaintiff(s).
While Schatz & Nobel 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, class action cases in general, and your rights, please contact Schatz & Nobel toll-free at (800) 797-5499, or by e-mail at sn06106@aol.com, or visit our website: www.snlaw.net.

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Welcome to Schatz & Noble PC Blog site. The Firm of Schatz & Nobel is actively engaged in complex litigation, emphasizing securities, consumer, and antitrust class actions. Schatz & Nobel capabilities in these fields are based upon the experince of its attorneys who have successfully prosecuted hundreds of class action lawsuits