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WASHINGTON — The Senate’s No. 3 Republican announced Thursday he’d break with the rest of his party’s leaders to support Supreme Court nominee Sonia Sotomayor, who’s in line to become the first Hispanic justice.
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BOCA RATON, Fla., July 30, 2009 (GLOBE NEWSWIRE) — The securities law firms Blum & Silver, LLP (www.stockattorneys.com) and Sallah & Cox, LLC (http://www.sallahcox.com) announce that they have launched a website devoted to providing information concerning sales abuses related to principal protected notes (PPNs) and other structured products. The website, found at www.ppnattorneys.com, explains PPNs, the risks associated with them, and how brokerage firms like UBS concealed such risks from customers. The website also contains news articles concerning PPNs and recent findings from the State of New Hampshire Bureau of Securities Regulation, which alleged that UBS made unsuitable and inappropriate recommendations to customers in connection with the offer and sale of PPNs. Specifically, the Bureau stated that UBS, which “developed and sold” the PPNs, “did not meet its obligation” to ensure that investors “were aware of all material information, … including the relationship between UBS and Lehman, … the derivative nature of the products, and any substantial changes associated with the investment.” A copy of the Bureau’s findings may be found on the www.ppnattorneys.com website.
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CONCORD, N.H. — Retired but not retiring, former U.S. Supreme Court Justice David Souter is helping his native state of New Hampshire promote civics education in the public schools.
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WASHINGTON — President Barack Obama is awarding the Presidential Medal of Freedom to 16 people, including political ally Sen. Edward M. Kennedy, tennis legend Billie Jean King and retired Archbishop Desmond Tutu of South Africa.
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JACKSON, Miss. — The U.S. Supreme Court should decide whether a reputed Ku Klux Klansman should have been tried on a kidnapping charge 43 years after two black men were abducted and slain in rural Mississippi, a federal appeals court said Thursday.
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DALLAS, July 30, 2009 (GLOBE NEWSWIRE) — Kendall Law Group (www.kendalllawgroup.com) is investigating shareholder claims into the sale of Harleysville National Corp. (Nasdaq:HNBC) to First Niagara Financial. Under the terms of the agreement, each Harleysville shareholder will receive 0.474 shares of First Niagara stock for each Harleysville share they own. The investigation concerns whether the Harleysville Board of Directors breached their fiduciary duties to Harleysville shareholders given that (i) the Company’s shares traded at $6.47 as recently as June 5, 2009 and over $14.50 per share in January 2009; (ii) the Company has a book value of over $11.00 per share; and (iii) because the Company agreed to a non-solicitation provision and a termination fee of $10.0 million that will all but ensure that no superior offer will ever be forthcoming.
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DALLAS, July 30, 2009 (GLOBE NEWSWIRE) — Kendall Law Group (www.kendalllawgroup.com) is investigating shareholder claims into the sale of Medarex (Nasdaq:MEDX) to Bristol-Myers Squibb. The law firm is investigating the sale because the tender offer price is well below the company’s peak historical share price and appears to be timed to take advantage of the global economic downturn.
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DALLAS, July 30, 2009 (GLOBE NEWSWIRE) — Kendall Law Group (www.kendalllawgroup.com) is investigating shareholder claims into the sale of Virgin Mobile USA (NYSE:VM) to Sprint Nextel Corp. because Sprint has voting agreements that comprise almost 40% of the voting power of the company and Virgin Mobile agreed to a high termination fee.
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DALLAS, July 30, 2009 (GLOBE NEWSWIRE) — Kendall Law Group (www.kendalllawgroup.com) is investigating shareholder claims into the sale of SPSS, Inc. (Nasdaq:SPSS) to IBM. The investigation focuses on whether the share price is fair based on a review of the Company’s financial statements, and because the directors may be receiving new jobs at IBM.
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DALLAS, July 30, 2009 (GLOBE NEWSWIRE) — Kendall Law Group (www.kendalllawgroup.com) is investigating shareholder claims into the sale of Varian (Nasdaq:VARI) to Agilent Technologies Inc. (NYSE:A). The law firm is investigating the sale because of the agreement by Varian to pay Agilent a $46 million termination fee and to refrain from soliciting competing offers from other bidders.
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