$9.7M Settlement For Insurance Class Action Older Individuals Nationwide Purchased Annuities The plaintiff asserted claims on behalf of a class of persons that the defendant insurance company misled primarily older individuals into purchasing annuities with discriminatorily low benefits. The plaintiff alleged that the defendant sold products known as “bonus annuities” that come with a “bonus” — a higher interest...
Continue Reading$15 million settlement in favor of the plaintiffs of class action suit for inflated share prices On Oct. 2, 2002, Comerica announced that it would record a charge to earnings comprised of an increase in the provision for loan loss reserves and a reduction in goodwill related to a decline in the value of Comerica’s California subsidiary, Munder Capital...
Continue Reading2006 WL 763193 — F.R.D. —-, 2006 WL 763193 (E.D.Mich.) (Cite as: 2006 WL 763193 (E.D.Mich.) Motions, Pleadings and Filings Only the Westlaw citation is currently available. United States District Court, E.D. Michigan, Southern Division. In re: CMS ENERGY SECURITIES LITIGATION, No. 02-CV-72004-DT. March 24, 2006. Background: Investors brought securities fraud class action against corporation and its individual officers, alleging...
Continue Reading$10.8 million settlement in Collins & Aikman Corp. litigation after company’s efforts to cover up risky strategy fail Company’s efforts to cover up risky strategy fail Misleading financial statements were issued to raise stock price In a class-action lawsuit filed in U.S. District Court, Eastern District of Michigan, the plaintiffs asserted that defendant Collins & Aikman Corp. (C&A) and...
Continue ReadingSlip Copy, 2005 WL 22562965 (E.D.Mich.) (Cite as: Slip Copy) Briefs and Other Related Documents Only the Westlaw citation is currently available. United States District Court,E.D. Michigan, Southern Division. Janet ASMAR and Ken Lukatch, Plaintiffs, v. BENCHMARK LITERACY GROUP, INC., Eagle Literacy Group, Inc., Robert W. Hanson, Jr., American Financial Access, Inc., American Financial Avenues, Inc., and Eric F....
Continue ReadingNot Reported in F.Supp.2d Motions, Pleadings and Filings Only the Westlaw citation is currently available. United States District Court, W.D. Tennessee, Western Division. UNITED AUTO GROUP, a Delaware Corp. Plaintiffs, v. Adam EWING and Andrew Barbee, Defendants. No. 04-2802 D/P. Aug. 26, 2005. E. Powell Miller, Marc L. Newman, Miller Shea, P.C., Rochester, MI, Ricky E. Wilkins, Sharon Harless...
Continue ReadingCONSUMER CLASS ACTION SETTLES FOR $2.6M Plaintiff: Telemarketing Program Was Deceptive Plaintiff Teresa McClain asserted claims on behalf of a class of Michigan consumers alleging that they were induced to purchase accidental death insurance through a false and deceptive telemarketing program. The plaintiff contended that the defendants purchased the names, phone numbers and bank account numbers of the class...
Continue ReadingMEDICAL SOFTWARE COMPANY TO PAY $14.4 MILLION TO END SUIT OVER BONUSES Shannon P. Duffy The Legal Intelligencer 02-14-2005 A Pennsylvania-based medical software company has agreed to pay more than $14.4 million to settle a class action suit brought by workers who said their incentive-based bonuses were unfairly reduced in 1998. Under the terms of the proposed settlement, a...
Continue Reading$1.5 million Settlement in Securities Fraud Class Action for Loss of Investment Value Securities Matter Nets $1.5M Settlement Class Action Alleged Loss Of Investment Value Type of action: Securities fraud class action Type of injuries: Loss of investment value Name of case: In re Federal Mogul Securities Litigation Court/case no./date: U.S. District Court; Eastern District of Michigan; #00-40222; Jan. 12,...
Continue ReadingCONTRACT CLASS ACTION SETTLES FOR $3.1M Defendant Failed To Pay Interest As Promised The plaintiff asserted claims on behalf of members of defendant Tournament Players Club for breach of promissory notes issued to members of the golf club, from approximately 1988-92. Specifically, the plaintiff alleged the defendant failed to pay interest to holders of the promissory notes in the...
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