Monthly Archives: August 2012

Zoll Medical Corporation Breach of Fiduciary Duty Investigation Concerning Acquisition by Asahi Kasei Corporation

Investigation into Breach of Fiduciary Duty Claims concerning the Acquisition of Zoll Medical Corporation by Asahi Kasei Corporation announced by Leading National Securities Law Firm Gilman Law LLP.

Investigation into Zoll Medical Acquisition by Asahi Kasei

Investigation into Zoll Medical Acquisition by Asahi Kasei

The National Securities Law Firm Gilman Law LLP has launched a breach of fiduciary duty investigation into possible breach of fiduciary duty claims concerning current shareholders of Zoll Medical Corporation (“Zoll”) (NASDAQ: ZOLL) and other violations of state law by the board of directors of Zoll relating to the proposed acquisition of Zoll by Asahi Kasei Corporation (“Asahi”). Gilman Law’s breach of fiduciary duty investigation seeks to determine whether the board breached its fiduciary duties by failing to maximize shareholder value in negotiating the agreement to sell the company to Asahi.

On March 12, 2012, Zoll and Asahi announced that they had entered into a definitive agreement providing for Asahi to acquire Zoll for approximately $2.1 billion. Under the terms of the Zoll acquisition merger agreement, Zoll shareholders will receive $93.00 for each share of Zoll common stock held. However, according to news media, at least one analyst has set a high price target of $100.00 per share. The transaction is expected to close in the second calendar quarter of 2012.

If you currently own shares of Zoll and would like to learn more about the breach of fiduciary duty investigation by the National Securities Law Firm Gilman Law LLP, you may contact our office for a free consultation by calling (239) 221-8301 or by filling out our free consultation form online.

About The Leading National Securities Law Firm Gilman Law LLP

The leading national securities law attorneys at Gilman Law have over 35 years of experience litigating securities and other class action cases. Our firm has been involved in all major aspects of securities litigation, including cases involving stock manipulation, securities fraud, investment fraud, and shareholder rights violations, as well as securities class action suits on behalf of both individual and institutional investors.

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Pacific Capital Bancorp Breach of Fiduciary Duty Investigation Concerning Acquisition By UnionBanCal Corp.

Investigation into Breach of Fidicuary Duty Claims concerning the Acquisition Pacific Capital Bancorp by UnionBanCal Corp. announced by National Securities Law Firm Gilman Law LLP

The National Securities Law Firm Gilman Law LLP is investigating potential breach of fiduciary duty claims by current shareholders of Pacific Capital Bancorp (“Pacific Capital”) (NASDAQ: PCBC) against the board of directors of Pacific Capital in connection with the proposed acquisition of the Company to UnionBanCal Corp.  UnionBanCal, part of Japan’s Mitsubishi UFJ Financial Group, Inc., is buying Pacific Capital, a bank holding company, in order to expand its presence in California.  The acquisition is expected to close in the fourth quarter, pending approval of bank regulators. 

On March 9, 2012, Pacific Capital and UnionBanCal entered into a definitive agreement for Pacific Capital to be acquired by UnionBanCal in an all cash transaction with a total equity value of approximately $1.5 billion.  According to the terms of the deal, Pacific shareholders will receive $46.00 for each share of common stock.  Gilman Law is investigating whether $46.00 per share is adequate compensation under the terms of the agreement, whether UnionBanCal is underpaying for Pacific Capital stock, and whether Pacific Capital’s board failed to obtain the highest share price for all shareholders during negotiations.

If you are a current shareholder of Pacific Capital and would like to learn more about the breach of fiduciary duty investigation by the National Securities Law Firm Gilman Law LLP, you may contact our office for a free consultation by calling (239) 221-8301 by completing our free consultation form. 

About the National Securities Law Firm Gilman Law LLP

The leading national securities law attorneys at Gilman Law have over 35 years of experience litigating securities and other class action cases. Our firm has been involved in all major aspects of securities litigation, including cases involving stock manipulation, securities fraud, investment fraud, and shareholder rights violations, as well as securities class action suits on behalf of both individual and institutional investors.

 

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GMX Resources IPO Class Action Securities Fraud Lawsuit

Gilman Law Announces Lead Plaintiff Deadline for GMX Resources Class Action Securities Fraud Lawsuit

The Naples Florida office of Gilman Law LLP, a leading national securities law firm, is actively investigating securities fraud allegations in a class action securities fraud lawsuit against GMX Resources (“GMX” or the “Company”) and certain of its officers and directors alleging violations of the Securities Exchange Act of 1934, for issuing materially false or misleading information to investors regarding the Company’s stock offerings on or about July 17, 2008, May 13, 2009, and October 22, 2009. GMX Resources, Inc. (NYSE:GMXR) is a “pure play” independent oil and natural gas exploration and production company, which is focused on the development of unconventional Haynesville/Bossier Shale and Cotton Valley Sands in the Sabine Uplift of the carthage, North Field of Harrison and Panola counties of East Texas. In this context, “pure play” refers to the Company allegedly devoting all of its business to drilling for and producing oil and natural gas in one core area.

The Court has not appointed a lead plaintiff yet and the class has yet been certified in this action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you in this matter, you must apply to be appointed lead plaintiff no later than February 3, 2012 and be selected by the Court. The lead plaintiff will have the ability to participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You are not required to have sold your shares to seek damages or to serve as a Lead Plaintiff.

The complaint accuses the defendants of violations of the Securities Act of 1933 by virtue of the Company’s failure to disclose in connection with the Company’s stock offerings on or about July 17, 2008, May 13, 2009 and/or October 22, 2009 that the Company had incorrectly accounted for certain impairment charges and deferred income taxes and that the Company lacked adequate internal and financial controls such that the Company’s financial statements were not prepared in accordance with Generally Accepted Accounting Principles and contained untrue statements and material omissions at all relevant times. According to the complaint, after, on March 11, 2010, the Company disclosed that its full year 2008 and quarterly 2009 financial statements should no longer be relied upon and would need to be restated, the value of GMX shares declined significantly.

How To Join The GMX Resources Class Action Securities Fraud Lawsuit

If you purchased or otherwise acquired GMX Resources stock (NYSE:GMXR) pursuant or traceable to the IPO, and either lost money on the transaction or still hold the shares, please contact the securities law firm of Gilman Law LLP by February 3, 2012, to discuss your rights to recovery of your losses or to obtain additional information. If you wish to join the GMX Resources class action lawsuit, please complete the Investor Certification or CALL TOLL FREE at (888) 252-0048.

About The Leading National Securities Law Firm Gilman Law LLP

The leading national securities law attorneys at Gilman Law have over 35 years of combined experience litigating securities and other class action cases, and have been involved in all major aspects of securities litigation. The leading national securities law firm of Gilman Law focus on cases involving stock manipulation, securities fraud, investment fraud, and shareholder rights violations. The securities lawyers at Gilman Law also have extensive experience representing both individual and institutional investors in securities class action suits.  The national securities law firm of Gilman Law has recovered over a billion dollars for its clients and can help you recover any losses that you have incurred as a result of GMX Resources’ fraudulent practices.

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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