Narrow your search
A Milberg Weiss & Bershad partner pleads guilty to a federal conspiracy charge and shouts of joy can be heard across the tech landscape.
Software giant is dealt setback in suit that alleges consumers were ripped off. Six similar lawsuits also are in play.
Several shareholders aim to block EMC's planned acquisition of the storage management software company. Industry watchers are puzzled but say few mergers go unchallenged.
A federal judge says he has enough information to issue a ruling on a lawsuit that alleges the database giant inflated revenue by misapplying customer overcharges.
Even as record stores lobby for CD copy protection, the music industry, leery of consumer backlash and unresolved glitches with the technology, is playing a more somber tune.
A new complaint in a shareholder lawsuit against Amazon.com accuses the online retailer of using accounting tricks to make its cash balance look bigger, according to a report. The complaint, filed Oct. 5 in U.S. District Court in Seattle by Milberg Weiss Bershad Hynes & Lerach, is a consolidation of various shareholder suits dating back to March, The Wall Street Journal reported. The original suit charged Amazon had misled investors by hiding the fact that millions of dollars' worth of promotional agreements with other Internet companies were to be paid to Amazon in stock, not cash, the report said. The consolidated complaint also includes charges that Amazon made its cash reserves look plumper by holding millions of dollars of accounts payable and then threatening to halt business with suppliers if they did not agree to unreasonable delays in payment, the report said. Amazon said the suit has no merit.
Redback Networks, which warned last week that it would fall short of analysts' estimates in its second quarter, received some more bad news Tuesday when it was slapped with a shareholder lawsuit. Investors who bought Redback shares between May 17, 1999, and Dec. 6, 2000, claim the network-equipment maker issued "materially false and misleading" statements in its prospectus and failed to disclose other pertinent information regarding its relationship with several investment banking firms. Redback shares, which closed off 44 cents to $8.61 a share Tuesday, traded between $21.03 and $81.31 a share during the 19-month span identified in the complaint. New York-based law firm Milberg, Weiss, Bershad, Hynes & Lerach is representing the shareholders.
Shareholders have filed a class-action lawsuit against chipmaker Transmeta, alleging that company executives made false statements about its business and certain products to boost its stock price. Announced Tuesday, the lawsuit alleges that in connection with Transmeta's initial public offering and continuing to June 20, the company made misleading statements about its Crusoe family of microprocessors, including overstating the battery life. New York-based law firm Milberg, Weiss, Bershad, Hynes & Lerach is handling the suit. The chipmaker denies any wrongdoing. "Transmeta has seen rumors of a shareholder lawsuit in the media, but has not been served with an actual complaint," Transmeta spokesman Phillip Bergman said. "The rumored lawsuit is without merit, and the company will vigorously contest it."
From revenue accounting to product complaints, the problems behind today's sales practices are increasingly finding their way into the courts and Congress. Through lawsuits, legislation and industry guidelines, customers hope to change the system.
A class-action lawsuit accuses Linux software leader Red Hat of misleading investors in relation to its initial public offering.