IMergent Agrees to Settle Class Action
Class Action News
[##_1L|1301042472.jpg|width="90" height="119" alt=""|_##]E-commerce software provider iMergent Inc. said Friday it has entered into a memorandum of understanding to settle a class action lawsuit against the company for $2.8 million. IMergent expects to pay the $2.8 million settlement to the class plaintiffs through the directors and officers insurance policy maintained by the company. As a result, iMergent said the settlement is not expected to affect the company's operating results.
According to Securities and Exchange Commission filings, the complaint alleges that the defendants violated federal securities laws by making material misleading statements and omissions, providing inaccurate financial information, and failing to make proper disclosures.
The initial class action suit was filed in 2005. The company denies liability.
The memorandum of understanding is subject to certain contingencies that require court approval, including a provision that prevents its former independent auditors Grant Thornton LLP from prosecuting any claims against the company related to the litigation.
Related listings
-
Market volatility spurs class action
Class Action News 09/14/2007[##_1L|1031923057.jpg|width="130" height="90" alt=""|_##]Employees participating in Countrywide Financial Corporation's 401(k) plan have filed a class-action lawsuit claiming the firm lost millions of dollars of their pension money during the recent ...
-
EMC Faces Class-Action Lawsuit
Class Action News 09/13/2007[##_1L|1292332092.jpg|width="120" height="138" alt=""|_##]EMC Corp. could face a sexual discrimination class action lawsuit, if a judge opens an existing case up to other female EMC workers, the Wall Street Journal reported Wednesday. Two women filed...
-
Tarragon faces class action suit
Class Action News 09/12/2007[##_1L|1165540786.jpg|width="130" height="132" alt=""|_##]A San Diego law firm said it filed a class action lawsuit Tuesday against Tarragon Corp. in the U.S. District Court for the Southern District of New York on behalf of purchasers of Tarragon's ...
Victorville CA DUI defense Attorneys
The outcome of a DUI defense will have a long-term effect on anyone’s life, making the decision to receive legal representation an easy one. The fact is, most people accused of a DUI are first offenders with no criminal background. Whether this is your first run in with the law or you have had previous convictions, you are in need of a DUI defense attorney.
The charges you are facing for a DUI range from fines, a 12-month suspension on your license and worst-case scenario, prison time. Your attorney will be able to analyze your situation to decide the best way to go about your case.
Our attorneys know the tricky ways to challenge all of the DUI tests and know how to claim improper collection of evidence. We will be able to negotiate on your behalf and free you from charges and help you keep your drivers license. The DUI process can last up to several months, we can make this process easier on you. .