Monthly Archives: May 2012

TVIX LAWSUIT (VELOCITYSHARES 2X VIX SHORT)

Class Action Lawsuit Against Credit Suisse on Behalf of TVIX Investors in VelocityShares Daily 2x VIX Short ETN

About the TVIX Lawsuit

VelocityShares TVIX Lawsuit

VelocityShares TVIX Lawsuit

The Investment Fraud Attorneys of Gilman Law LLP announce that a class action lawsuit has been filed against Credit Suisse on Behalf of Investors in TVIX exchange traded notes (TVIX ETN) (NYSE:ARCA: TVIX). Investors who purchased or otherwise acquired shares in TVIX pursuant and/or traceable to a November 29, 2010 pricing supplement (together with a March 25, 2009 Registration Statement and Prospectus) and held TVIX ETNs through and including March 22, 2012 (Class Period), may have a claim to recover their losses in TVIX. TVIX ETNs were sold to investors during the Class Period by Credit Suisse AG and its affiliate Credit Suisse Securities (USA) LLC.

Legal Help for Investors with Losses in TVIX

TVIX Lawsuit Details

Specifically, the complaint alleges that on February 21, 2012, Credit Suisse announced that it temporarily suspended further issuances of the TVIX ETNs due to “internal limits” reached on the size of the ETNs. As a result of the suspension, shares of TVIX subsequently traded at prices uncorrelated to the S&P VIX Short-term Futures index (the index that the ETN was purportedly designed to track through the use of VIX futures). This “disconnect” lasted for approximately one month.

On March 22, 2012, shares of TVIX declined in price by over 29% as rumors leaked into the market that Credit Suisse was considering whether to recommence issuance of the ETNs. On March 23, 2012, after Credit Suisse announced that it would reopen issuance of TVIX shares on a limited basis, shares of TVIX declined further by almost 30%.

The complaint alleges that these losses are a result of risks that were materially understated or omitted in the TVIX Offering Documents. Credit Suisse also misleadingly omitted to disclose necessary information and material risks of certain scenarios transpiring that might lead to large losses from investments in TVIX ETNs.

About our Investment Fraud Attorneys

The Securities Fraud Attorneys at Gilman Law LLP have over 35 years of experience in securities litigation. Our Investment Fraud Attorneys focus on cases involving securities litigation, securities fraud, mergers and acquisitions, breaches of fiduciary duty, and other shareholder disputes.

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JPMORGAN CHASE (JPM) BREACH OF FIDUCIARY DUTY

JPMorgan Chase Loses $2 Billion

JPMorgan Chase Breach of Fiduciary Duty

JPMorgan Chase Breach of Fiduciary Duty

On May 10, 2012, JPMorgan Chase (JPM) disclosed a loss of approximately $2 billion related to the bank’s “synthetic credit portfolio.” This synthetic credit portfolio was a JPM managed portfolio that allegedly invested in the same type of complex derivatives that played a destructive role in the financial crisis. The CEO of JPMorgan Chase (JMP) has cautioned that this loss could “easily get worse,” but is not enough to topple the bank at this point.

The Company also acknowledged that its Corporate unit could post an $800 million loss in the second quarter. In reaction to this news, JPMorgan stock plunged over 6% in after hours trading.

Legal Help for JPM Investors

The Investment Losses and Shareholder Rights Law Firm of Gilman Law LLP has launched an investigation into alleged Breach of Fiduciary Duty claims by the Officers and Directors of JPMorgan Chase (JPM) concerning the massive trading losses announced by JPMorgan Chase’s CEO. Current shareholders of JPM common stock are encouraged to contact our securities attorneys to discuss your potential rights to recovery for this $2 billion loss in JPM common stock for free with no cost or obligation. JPM Investors may contact our experienced securities lawyers by calling (888) 252-0048 TOLL FREE or by completing our Free Consultation Form Online.

About Our Experienced Securities Attorneys

Our experienced securities attorneys have over 35 years of experience in securities law and have been involved in all major aspects of securities litigation. Our securities lawyers focus on cases involving stock manipulation, securities fraud, investments fraud, shareholder rights violations, and securities arbitration. For a free evaluation of your case or to obtain additional information, please contact our securities fraud attorneys for a free consultation by calling (888) 252-0048 Toll Free.

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Standard Microsystems Breach of Fiduciary Duty Lawsuit Over Microchip Technology Acquisition

Microchip Technology Acquisition of Standard Microsystems Prompts Breach of Fiduciary Investigation. Standard Microsystems Investors Call (888) 252-0048 For A Free Review.

About the Standard Microsystems Breach of Fiduciary Duty Investigation

Standard Microsystems Acquisition Lawsuit for Breach of Fiduciary Duty

Standard Microsystems Acquisition Lawsuit for Breach of Fiduciary Duty

The Investment Losses and Securities Fraud Law Firm of Gilman Law LLP is investigating potential breach of fiduciary duty claims by current shareholders of Standard Microsystems Corporation (“Standard Microsystems”) (NASDAQ: SMSC) against the board of directors of the Company in connection with their efforts to sell the Standard Microsystems Corp. to Microchip Technology Incorporated (NASDAQ: MCHP), in an all-cash deal valued at about $939 million.

Standard Microsystems Corporation and Microchip Technology Incorporated are allegedly discussing terms under a proposed transaction that will offer Standard Microsystems’ stockholders $37.00 in cash for each share of Standard Microsystems’ common stock. Our Breach of Fiduciary Duty Investigation concerns whether Standard Microsystems’ Board of Directors breached fiduciary duties by failing to conduct an adequate and fair sales process prior to entering into to this proposed transaction. The Standard Microsystems Lawsuit Investigation further investigates whether the proposed transaction undervalues Standard Microsystems’ shares and by how much this proposed transaction undervalues the Company to the detriment of Standard Microsystems’ shareholders.

Legal Help for Standard Microsystems Shareholders

If you are a current shareholder of Standard Microsystems and would like to learn more about the Standard Microsystems Breach of Fiduciary Duty Investigation, you may complete our Free Consultation and Case Review for Online or call our investment fraud attorneys TOLL FREE at (888) 252-0048. Our securities fraud lawyers have over 35 years of experience litigating securities and other types of class action cases and have been involved in all major aspects of securities litigation. The investment fraud attorneys at Gilman Law LLP focus on cases involving stock manipulation, securities fraud, investments fraud, shareholder rights violations, and securities arbitration.

 

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First Solar Securities Fraud Lawsuit (NASDAQ: FSLR)

National securities law firm Gilman Law LLP announces that a First Solar Securities Fraud Lawsuit was commenced in the US District Court, District of Arizona on behalf of purchasers of First Solar securities (NASDAQ: FSLR).  The lawsuit alleges that First Solar and certain of its officers and directors issued materially false and misleading statements to investors, thereby violating the Securities Exchange Act of 1934.

Those who purchased or otherwise acquired shares of First Solar securities between April 30, 2008 and February 28, 2012 (the “class period”), and incurred losses in excess of $50,000 should contact the Securities Law Firm Gilman Law LLP before the May 14, 2012 Deadline.  Investors may contact Kenneth Gilman, the managing partner of Gilman Law LLP, at (888) 252-0048 or by completing the online form below for a Free Evaluation of your case.

 

First Solar Securities Fraud Lawsuit Details

Based in Tempe, Arizona, First Solar designs and manufacturers solar modules.  The Company uses a thin film semiconductor technology to manufacture electricity-producing solar modules.  The First Solar securities fraud lawsuit alleges that throughout the Class Period, First Solar failed to disclose certain manufacturing flaws which impacted the Company’s earnings.  The suit further alleges that the Company improperly recognized revenue concerning certain products in its systems business and lacked adequate internal and financial controls.  As a result, First Solar lacked a reasonable basis for their positive statements about the Company, its operations and earnings during the Class Period.  Once First Solar began to disclose the truth on February 29, 2012, the price of First Solar securities declined $4.10 per share or 11%, to close at $32.30 per share. 

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ViroPharma, Inc. Class Action Securities Lawsuit Prompted By Unfair Competition

Investors with substantial losses from investments in ViroPharma, Inc. (VPHM) as a result of ViroPharma’s unfair methods of competition are encouraged to contact the Leading Investment Losses Law Firm of Gilman Law LLP to discuss your rights.

The Leading Investment Losses and Stock Fraud Law Firm of Gilman Law LLP is investigating potential claims on behalf of purchasers of ViroPharma Inc. (“ViroPharma” or the “Company”) (NASDAQ:VPHM) common stock concerning possible violations of federal securities laws.

Information about the ViroPharma Class Action Securities Lawsuit

ViroPharma Class Action Securities Lawsuit

ViroPharma Class Action Securities Lawsuit

The Federal Trade Commission is currently investigating whether ViroPharma engaged in unfair methods of competition in relation to its antibiotic Vancocin. Furthermore, the Food and Drug Administration recently denied ViroPharma’s petition to maintain market exclusivity. By April 11, 2012, four companies began selling authorized generic versions of Vancocin. Since announcing the investigation by the Federal Trade Commission, shares of ViroPharma have fallen over 21 percent.

If you own or otherwise acquired ViroPharma stock and wish to obtain additional information about the investigation and your legal rights, please contact our experienced securities attorneys via email at consultations@gilmanlawllp.com, by telephone toll free at (888) 252-0048, or by completing the free online legal consultation form to the left of this page.

About Gilman Law LLP

The experienced Investment Losses and Securities Law Attorneys at Gilman Law LLP have over 35 years of experience in complex securities litigation involving securities fraud, derivative claims, and other shareholder lawsuits. The securities attorneys at Gilman Law LLP have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered hundreds of millions of dollars on behalf of investors.

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Awards & Recognition

The Securities and Investment Fraud Attorneys at Gilman Law LLP have been recognized by numerous leading legal publications:

Investment Losses Law Firm