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Petrobras shareholder lawsuit re scandal

Petrobras is caught up in a salacious bribery and kickback scandal.  Former executives allegedly engineered a multi billion dollar scheme to award inflated contracts to a cartel of third party vendors and then both kick back money to these executives and bribe politicians.  This lawsuit seeks to recover all damages suffered by investors in Petrobras’ ADS’s, which are traded on US-based exchanges.

Salix lawsuit alleges securities fraud

Salix Pharmaceuticals lost nearly $3 billion in market value overnight.  The company announced disappointing earning and a stunning increase in wholesale inventory levels of its key drugs, raising real concern about future revenue.  This class action accuses senior executives of knowingly overstating Salix’ business prospects during the class period.

Digital River merger under review

Digital River, Inc. (DRIV) announced that it has entered into a definitive merger agreement to be acquired by an investor group led by Siris Capital Group, LLC (collectively “Siris”) in a transaction valued at approximately $840 million.  Under the terms of the agreement, Siris will acquire all of the outstanding common shares of Digital River for $26.00 per share in cash.  The agreement was approved by Digital River’s Board of Directors, which recommended that Digital River stockholders adopt the agreement with Siris.

Retrophin lawsuit alleges securities fraud

Retrophin shareholders have lost $120 million in market value or 33% of the total value of the company in 6 weeks.  Why?  Did one of its promising drug candidates fail a clinical trial?  No. Evidence has emerged that the CEO and senior executives were issuing stock options in violation of the company’s incentive plan rendering the company's financial statements inaccurate.  CEO, one board member and the CFO resigned or were fired.  This securities fraud action seeks to recover losses due to these apparent stock-trading irregularities and shenanigans.

Apco merger lawsuit investigation

Apco Oil & Gas International Inc. (APAGF) announced it has entered into a definitive agreement with Pluspetrol Resources Corporation under which Pluspetrol Resources Corporation will acquire all outstanding shares of Apco Oil for $427 million.   Apco Oil stockholders will only receive $14.50 in cash per each Apco share.

GT Advanced Technologies Lawsuit alleges fraud

GT Advanced Technologies is in bankruptcy and the stock is near worthless because the company’s contract with Apple to provide production of sapphire material went into the toilet.   This case attempts to partially recover investor losses from the underwriters who raised money for the company and any insurance policies in effect during the class period.  The basic questions are whether senior executives oversold the value of the Apple contract and undersold the liquidity issues with GT Advanced Technologies’ performance under that contract.

Arrowhead lawsuit re securities fraud

Did senior executives of Arrowhead purposely overstate the efficacy results of the Phase IIa trial of ARC-520 on a August 12, 2014 investor conference call?  That is the question of this securities fraud lawsuit.

Pacira lawsuit by shareholders

The FDA issued a warning letter to Pacira Pharmaceuticals alleging that it misbranded and overstated the efficacy of Exparel.  This securities fraud lawsuit alleges that Pacira’s revenues up until the disclosure of the warning letter were based in part on sales based on overstating and misbranding Exparel.