Headlines Archives - Page 13 of 19

Breach of Fiduciary Duty Results In $11 Million Settlement With Comerica

Plaintiffs say bank mismanaged securities By: Michigan Lawyers Weekly Staff in Verdicts & Settlements February 4, 2014 February 4, 2014 Download PDF Plaintiffs Board of Trustees of the City of Birmingham Retirement System asserted that defendant Comerica Bank had mismanaged plaintiffs’ securities lending program. Under the program, Comerica lent its clients’ securities to third parties. In turn, the borrowers...

Shareholders seek pre-merger information

Supplemental disclosures had critical details about intrinsic value of company By: Michigan Lawyers Weekly Staff in Verdicts & Settlements January 28, 2014 Download the PDF here. Macomb County Circuit Court Judge John C. Foster approved a class-action settlement that secured valuable disclosures relating to the merger of defendant Asset Acceptance Capital Corp. with defendant Encore Capital Group Inc. On...

$388,240,516 Settlement – Environmental Class Action

Class action targets herbicide manufacturer Claimants say product meant to wipe out only weeds also killed trees Michigan Lawyers Weekly Staff in Verdicts & Settlements December 10, 2013 An environmental class-action lawsuit was filed July 8, 2011, in Oakland County Circuit Court. It concerned numerous Michigan-based complaints of damage and death to trees after the application of Imprelis herbicide...

Chad Halcom, Detroit Ch. 9 may set pension precedent

The Empire is still out there. I don't think it's wise to... No time to discuss this as a committee. I am not a committee! You can't make the jump to light-speed in this asteroid field... Sit down, sweetheart. We're taking off! Look! I see it, I see it. We're doomed! The cave is collapsing. This is no cave....

The Romantics settle lawsuit over song royalties with former band member

Download Full Article Pontiac After nearly six hours of mediation Tuesday, the Detroit-based rock band The Romantics reached an agreement with a former bandmate, averting an Oakland County Circuit Court trial scheduled to begin this week that would have opened up tax and business records, personal bankruptcy and, perhaps, the seamier side of the recording industry. The Romantics, who...

$2.975 Million Settlement – Fraud Class Action

$2.975 million settlement in securities fraud class-action lawsuit where management had misrepresented the scope and severity of alleged FDA violations Securities fraud class-action suit is settled In a securities fraud class-action lawsuit in U.S. District Court for the Eastern District of Michigan, the plaintiffs argued that defendant Caraco Pharmaceutical Laboratories Ltd. and its management had misrepresented the scope and...

$2,010,982 Settlement – Breach of Contract Claim

Distributor: Contract to not sell in restricted territory breached Arbitration panel agrees supplier’s vendor network was knowingly usurped By: Michigan Lawyers Weekly Staff in Verdicts & Settlements October 28, 2011 In a breach-of-contract action filed with the American Arbitration Association, plaintiff Heat Controller International, LLC (International) sought monetary damages from defendant Heat Controller, Inc. (HCI) for soliciting and purchasing...

$2 Million Arbitration Award for Violation of Non-Solicitation and Exclusive Sales Territory Agreement

Heat Controller International, LLC (“International”), had a global, with an emphasis on Asia, supply and distribution network for air conditioning equipment that had been developed over the course of many years. In 2002, International entered into a contract with Heat Controller, Inc. (“HCI”) to supply air conditioning goods to HCI and to sell HCI’s goods outside the U.S. and...

Management-Led Buyout Results In $200 Million Settlement

Management-led buyout disputed by class ‘Going-private’ takeover deal criticized, deemed less than value of shares By: Michigan Lawyers Weekly Staff in Verdicts & Settlements August 19, 2011 In a class-action lawsuit filed in Shawnee County District Court in Kansas, shareholder plaintiffs challenged the acquisition of defendant Kinder Morgan, Inc. (KMI) by a group led by Richard Kinder, KMI’s largest...

Securities Class Action Settles For $12.26 Million

Auto supplier management accused of fraud Class action contends improper accounting led to company’s collapse By: Michigan Lawyers Weekly Staff in Verdicts & Settlements October 15, 2010 In a class-action lawsuit filed in U.S. District Court for the Eastern District of Michigan, plaintiff Craig D. Epstein and approved class members sought damages from defendants Heartland Industrial Partners, L.P.; Heartland...

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