General Motors (
TSX:GMM.U,
Stock Forum) is still facing the civil suit firing squad as the company continues to deal with the three-ring farce that resulted in the delay in the recall of approximately 2.6 million vehicles regarding a faulty ignition switch that resulted in the deaths of 13 people. As the fallout continues to settle the company announced the departure of its senior vice-president for global communications, Selim Bingol, and senior vice-president for global human resources, Melissa Howell.
GrowLife (
OTCBB:PHOT,
Stock Forum), a Woodland Hills California-based manufacturer and marketer of horticulture and lifestyles products in the USA, was trade halted by the SEC for incomplete paperwork and within the space of an hour, Rosen Law Firm, rose to the challenge by
announcing an investigation of securities claims against the company. As the days push forward and the bottom begins to fall out of the MMJ market, the company is waving goodbye to friendly faces as Growlife watched Creative Edge Nutrition take the long walk into the sunset today as Creative ended its relationship with the beleaguered firm.
Barker Minerals (
TSX:V.BML,
Stock Forum), a Prince George British Columbia-based firm engaged in the exploration and development of Canadian mineral properties, is crying foul and has
hired James Wesley Christian of Christian Smith & Jewell LLP to provide specialized legal advice in relation to identified irregular trading and settlement patterns including indications of illegal and destructive “failures to deliver” activity, routinely known as “naked short selling”.
Pioneer Energy Services (
NYSE:PES,
Stock Forum), a San Antonio Texas-based provider of drilling services and production services to independent and major oil and gas exploration and production entities, was put under the microscope by
Levi & Korsinsky for possible claims of breaches of fiduciary duty by certain board members of the company.
Yongye International (
NASDAQ:YONG,
Stock Forum), a Bejing-based crop nutrient firm engaged in researching, developing, manufacturing and selling fulvic acid based crop and animal nutrient products, was put into the crosshairs by Willie
Briscoe and the securities litigation firm of Powers Taylor LLP for potential legal claims against the company’s board in regards to its recent “going private” proposal from the company’s Chairman.
LIFELOCK (
NYSE:LOCK,
Stock Forum), a Tempe Arizona-based provider of proactive identity theft protection services for consumers and commercial enterprises, was locked in on by
Levi & Korsinsky LLP on behalf of investors to investigate claims of misleading advertising and guarantees regarding the company’s identity theft services. Despite their legal woes, the company was given a “buy” rating Monday by TheFlyOnTheWall.com.
Questor Pharmaceuticals (
NASDAQ GS:QCOR,
Stock Forum), an Anaheim California-based a biopharmaceutical firm engaged in the treatment of patients with serious auto-immune and inflammatory disorders, was put under the gun by
Brodsky & Smith LLC to investigate potential claims against the company’s board regarding its proposed acquisition by Mallinckrodt. Industry analysts continue to vacillate between “buy”, “hold” and “outperform” ratings.
Cytrx (
NASDAQ:CYTR,
Stock Forum), a Los Angeles-based biopharmaceutical firm specializing in oncology, was put under scrutiny by the
Law Offices of Howard G. Smith on behalf of investors regarding allegations that the company hired promoter, The DreamTeam Group, to promote company stock without disclosing that it had been paid by the company to do so. Today, Wolf Haldenstein Adler Freeman & Herz LLP reminded investors that their class action deadline arrives on May 13, 2014.
Walter Investment management (
MKT:WAC,
Stock Forum), a Tampa Florida-based business service provider to the residential mortgage industry, was called to the carpet by
Levi & Korsinsky LLP on behalf of investors that had purchased stock in the company between May 9, 2012 and February 26, 2014. The complaint states that the company misrepresented or failed to disclose material facts concerning its operations and financial prospects when it overstated the value of its acquisition of Reverse Mortgage Solutions.
Imperva (
NYSE:IMPV,
Stock Forum), a Redwood Shores California-based developer and marketer of data security solutions for enterprise data centres, was feeling the heat today over its own data following the release of its preliminary Q1 2014 financial results where the company undershot its expected revenue guidance by approximately $5.0 million and reported an expected $9.5 million to $10.5 million non-GAAP operating loss for the quarter. Currently Johnson & Weaver LLP, Holzer & Holzer LLC and
Lifshitz & Miller law firm are sharpening their knives in a multi-pronged investigation to determine whether the company and/or certain of its officers complied with federal securities laws in statements made between November 4, 2013 and April 9, 2014. The company seems to be braced for another plunge as the cyber security sector loses its bloom with investors.
Hyperdynamics (
NYSE:HDY,
Stock Forum), a Houston-based independent oil and gas exploration and production firm, has been
called to the carpet by a host of law firms including Glancy Binkow & Goldberg LLP due to allegations that the company made false and/or misleading statements or failed to disclose material adverse facts, including that the company lacked adequate internal and financial controls and obtained and retained oil-and-gas concession rights in violation of the US Foreign Corrupt Practices Act and/or US anti-money laundering statutes. The company has continued facing fire since it managed to win an offshore oil concession in 2006 when the company had NO oil exploration experience. Oops.
SolarCity (
NYSE:SCTY,
Stock Forum), a San Mateo California firm engaged in designing, marketing, engineering, installation, monitoring, maintenance and financing of solar energy systems, came under the microscope as
law firms like the Law Offices of Howard G. Smith bellied up to the bar on behalf of investors to investigate claims that the company inaccurately allocated expenses between the company’s Solar Energy Systems Sales segment and its smaller Operating Leases segment in an effort to hide the Sale’s segments ballooning expenses.
Zygo (
NASDAQ:ZIGO,
Stock Forum), a Middlefield Connecticut-based designer, developer and manufacturer of measurement solutions to improve customer manufacturing yields, was dog-piled recently by a series of law firms including
Tripp Levy PLLC, Levi & Korsinsky LLP, Bernstein Liebhard LLP, Faruqi & Faruqi LLP, Pomerantz LLP, Lifshitz & Miller law firm, Pomerantz LLP, Willie Briscoe and Powers Taylor LLP, Brower Piven and Rigrodsky & Long PA in relation to possible breaches of fiduciary duties and other violations of law regarding the company’s recent inking of agreement to be acquired by AMETEK. Rigrodsky & Long PA joined the ranks today and rattled their sabers appropriately.
Allied Nevada Gold (
TSX:ANV,
Stock Forum), a Reno Nevada-based gold producer engaged in the mining, development and exploration of Nevada-based properties, became the subject of scrutiny when
Levi & Korsinsky LLP and Robbins Arroyo LLP joined the charge in the investigation of allegations that the company had published false and misleading statements in relation to the company’s financial performance and future prospects and also its failure to disclose materially adverse factors concerning the systemic deficiencies at the Lewis leach pad and that said deficiencies were adversely affecting its production costs and cash flows.
Intercloud Systems (
NASDAQ:ICLD,
Stock Forum), a Shrewsbury New Jersey-based provider of cloud and managed service based platforms, professional services, applications and infrastructure for a variety of sectors including telecommunications, was targeted by Levi & Korsinsky LLP and the
Law Offices of Howard G. Smith along with a host of other law firms in an investigation of allegations that the company had hired promoter The DreamTeam Group to promote the company’s stock without the promoter disclosing its relationship to Intercloud. This is the second time in as many days that The DreamTeam Group has been named in investigations of fraudulent stock promotion. Will companies continue using DreamTeam?
Weight Watchers (
NYSE:WTW,
Stock Forum), well-known New York-based provider of weight management systems to the global weight loss sector, felt the squeeze yesterday as the
Law Offices of Howard G. Smith and Brower Piven came to the table hungry to investigate claims the company made false and/or misleading statements or failed to disclose that the company was facing increased competition due to free weight-loss apps which resulted in reduced attendance at company meetings in both North America and the United Kingdom, coupled with execution issues that caused the company to miss internally forecasted financial plans. Glancy Binkow & Goldberg LLP made their presence known today as they launched yet another suit against the rapidly thinning company.
Vocus (
NASDAQ:VOCS,
Stock Forum), a Beltsville Maryland-based provider of cloud marketing software that assists businesses in attracting, engaging and retaining customers, has become
the focus of a league of law firms including Rigrodsky & Long PA, The Law Offices of Vincent Wong and the firm of Lifshitz & Miller, due to allegations that the company’s board of directors breached fiduciary responsibilities by failing to adequately shop the company around in order to secure the best possible value for shareholders after the company announced the its sale to GTCR LLC. The company released its, “The Marketer’s Guide to Social Media 2014” today that solidly states Facebook is NOT dead…right.