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Legal Advantage Provides Coverage Against Home Closings that Fall Through or Are Delayed

Legal Advantage Provides Coverage Against Home Closings that Fall Through or Are Delayed










Wellesley Hills, MA (PRWEB) September 07, 2011

Legal Advantage Real Estate, an Attorney-owned and operated Real Estate Services Company, today announces the first-of-its kind plan in the United States to protect home buyers and sellers against closings that fall through or are delayed.

A Real Estate Closing being delayed or falling through is every buyer or sellers nightmare, and rightfully so. Lost jobs, shaky financing, jittery sellers, and lenders unable or unwilling to close the loan are making delayed and canceled home sales more and more common.

During these turbulent times, Lenders are unable to close loans at the last minute because of lack of funds, last-minute underwriting conditions or simply because they just close up shop, leaving the Buyers and Sellers stuck and vulnerable to lawsuits and financial costs.

According to MortgageDaily.com, more than 225 mortgage lenders failed during the last year, along with a 400% increase in bank failures. These loans could not close and the Buyer and Seller were left in deep trouble.

When a Lender cannot close as promised, the Buyer may be liable to the Seller for their deposit. Legal Advantage will Protect them. When the Buyer needs a place to live in the meantime and incurs additional moving costs, Legal Advantage will Protect them. When a Seller changes their mind and won’t sell and the Buyer needs legal assistance, Legal Advantage will Protect them. Simply put, when the deal falls through, because of the lender, the realtor, the buyer or the seller…. Legal Advantage will protect the damaged party.

“Many Sellers and Buyers are anxious until the Closing is completed, they are fearful that something will cause the deal to fall thru. Not only do they lose their dream home or money they were expecting, but now they have the added financial costs – legal fees, moving expenses, lodging and bridge financing. Deals collapse and they are delayed….all the time…rarely does a week go by when my clients are not impacted by a closing problem that exposes them to real financial risk or hardship.”, said Howard S. Gold, president and founder of Legal Advantage Real Estate and a practicing Real Estate Attorney and licensed Real Estate Agent.

According to Jeffrey Simon, Owner of Sales Approach Real Estate, closings get delayed or fall through for no reason and every reason, and “having this product available to my clients is essential to giving them peace-of-mind during the stressful period before a home closing. The Home Closing Protection Plan is just what the doctor ordered.”

Legal Advantage Real Estate’s Home Closing Protection plan offers peace-of-mind to Sellers and Buyers.

Home Buyers or Sellers (or thru their Realtors, Escrow Agents, Attorneys or Lenders) can purchase protection immediately for $ 189.00 by visiting homeclosingprotectionplan.com

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Be the first to comment - What do you think?  Posted by Sitememos Admin - September 12, 2011 at 8:03 pm

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Defend DUI charges against you with DUI defense attorney in Valencia, CA

Defend DUI charges against you with DUI defense attorney in Valencia, CA

While both the breath and blood chemical tests and field sobriety tests can be given during an arrest, the chemical test is much difficult to fight against. All these tests are more objective as they are convincing evidences that determine presiding over the case, whether innocent or guilty. For a DUI lawyer to succeed in their case, they must get the evidence suppressed.

 

DUI defense attorney is generally appointed to fight against results of the Breathalyzer test. Remember, a Breathalyzer exam is usually conducted to determine the overall amount of alcohol in breath of a DUI suspect. It entails numerous methods and instruments. Breathalyzer results are not achieved from a sole machine. Some machines are unreliable compared to the others. When presenting your case, your DUI defense attorney will put up this point when presenting your case.

 

When an officer wants to make sure the test conducted properly, the machine needs to be calibrated well. They should also follow certain procedures when giving the test to a DUI suspect. Often, the DUI defense attorneys will defend their clients on terms that the officer improperly conducted the tests, or/and the machine was wrongly calibrated.

 

Choosing a Highly Experienced DUI Defense Attorney in Valencia, CA:

 

When it comes to selecting a DUI defense lawyer, you should always look forward to opt for a highly experienced one. With the amount of experience they have, the DUI defense attorneys in Valencia, CA can effectively defend your case, thus increasing the chances of success.

 

While the breathalyzer machines mainly depend on mathematics, there are numerous biological factors that can readily affect the numbers. A major point most DUI attorneys successfully argue is that the breathalyzer machines often display high readings due to specific medical conditions.

DUI Attorneys Santa Clarita help you defend your DUI case effectively. Visit us online for more details.


Article from articlesbase.com

www.shouselaw.com 888.327.4652 Do you have witnesses who can attest that you appeared relatively sober? This can help win your DUI case, as this video explains. There is no such thing as an open and shut California DUI case…there just isn’t. The prosecution could charge you with driving with a BAC of .20%, causing an accident, and being so drunk that you could barely stand, let alone drive a car. And yet even assuming these facts are true…which they typically aren’t…there are still a number of DUI defenses that could result in reduced or even dismissed DUI charges. This is why is it alwayscritical to consult with an experienced California DUI defense attorney before making the decision to plead guilty. As top Los Angeles DUI defense lawyer John Murray explains, “I’ve seen people plead guilty to DUI because they felt the evidence against them was insurmountable. Let me tell you, that’s rarely the case. Even if they don’t know it, people can be falsely arrested for and wrongfully accused of DUI. It’s my job to evaluate the evidence to see how I can help beat the DUI charge.” In this article, our Los Angeles DUI defense lawyers will summarize 20 defenses that can help you beat your California DUI charges. To learn more about each defense, just click on the link that describes your topic of interest. If you have additional questions or would like to speak with one of our California DUI defense attorneys, we invite you to contact us.

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Be the first to comment - What do you think?  Posted by Sitememos Admin - June 6, 2011 at 2:35 pm

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Arizona: an allegory … and the reality: the arguments against the Arizona immigration law may have some well-meaning advocates, but when the case is … An article from: The New American


Arizona: an allegory … and the reality: the arguments against the Arizona immigration law may have some well-meaning advocates, but when the case is … An article from: The New American

 Arizona: an allegory ... and the reality: the arguments against the Arizona immigration law may have some well meaning advocates, but when the case is ... An article from: The New American

This digital document is an article from The New American, published by American Opinion Publishing, Inc. on August 16, 2010. The length of the article is 3505 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available immediately after purchase. You can view it with any web browser.

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Title: Arizona: an allegory … and the reality: the arguments against the Arizona immigration law may have some well-

buynow big Arizona: an allegory ... and the reality: the arguments against the Arizona immigration law may have some well meaning advocates, but when the case is ... An article from: The New American

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Be the first to comment - What do you think?  Posted by Sitememos Admin - April 3, 2011 at 6:30 pm

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Notice to All Medical Capital Holdings, Inc. Investors Regarding the Class Action Filed Against Securities America, Inc. from the Law Firm of Tramont Guerra & Nunez, PA


Coral Gables (Vocus) October 3, 2009

The Law Firm of Tramont Guerra & Nunez, PA (TGN) makes an announcement to all investors in Medical Capital Holdings, Inc. (“MCH”) concerning the class action lawsuit (Case No. 09-cv-1084) filed on September 18, 2009, in the United States District Court, Central District of California. The class action lawsuit was filed on behalf of investors in the five Special Purpose Corporations, MP II, MP III, MP IV, MP V, and MP VI, (“SPCs”) created by MCH to raise capital through the offering of promissory notes. The class action names Securities America, Inc. among others, as a defendant, and alleges violations of Sections 12(a)(1) and 12(a)(2) of the Securities Act of 1933 (“the Act”). In selling unregistered MCH securities, the defendants were required by the Act to sell only to accredited investors. As it pertains to natural persons, an accredited investor has been defined as: (a) a person with an individual net worth, or joint net worth with his or her spouse, of over $ 1 million at the time of purchase, or (b) a person whose individual income exceeds $ 200,000, or $ 300,000, jointly with his or her spouse, in the two years prior to the purchase at issue, together with a reasonable expectation of current income levels at the time of purchase. The first count of the class action alleges that Securities America, and others, violated the Act by selling an unregistered MCH security to non-accredited investors. In support thereof, the class action alleges that defendants were responsible for the distribution of MCH literature to the general public and the solicitation of various unaccredited investors, via invitational information sessions.

Count two of the class action alleges a violation of Section 12(a)(2). The alleged violation was due to the fact that the Private Placement Memorandums (“PPMs”), which the lawsuit alleges constituted a prospectus within the meaning of Section 12 of the Securities Act, contained, among other things, “untrue statements of material fact and omitted other material facts concerning the use to which investor funds would be put.” This information, according to the class action, was essential to make the statements in the PPMs not misleading. In connection with the second count, the class action asserts the defendant’s owed the Plaintiffs the duty to make a “reasonable and diligent” inquiry to ascertain whether the information contained in the PPMs was accurate.

Investors should consider whether an individual securities arbitration claim filed with the Financial Industry Regulatory Authority (FINRA) is a more effective method (than a class action) to recover their investment losses. The brokerage firms who distributed the securities issued by MCH and its affiliated entities were obligated to conduct due diligence of facts concerning the risks associated with the investments. Financial advisors told many investors that these securities were suitable for current income investment objectives. Brokerage firms are obligated to give, and investors are entitled to rely upon brokerage firms for, competent, suitable investment advice in accordance with FINRA Rules and Regulations. Recommendations of unsuitable investments and/or failure to conduct adequate due diligence are both causes of action that form the basis for individual securities arbitration claims filed with FINRA.

The Securities Law Firm of Tramont Guerra & Nunez, PA, is a nationally recognized, Martindale Hubbell “AV” rated securities law firm. To request a confidential consultation from a TGN attorney to assist you in determining whether you have a viable individual claim for investment losses that exceed $ 100,000 from a full service brokerage account, contact us on our website. To speak directly with an attorney, call (800) 578-0137 and ask for Benjamin Fernandez, Esquire.

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Be the first to comment - What do you think?  Posted by Sitememos Admin - February 8, 2011 at 10:26 pm

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Notice to All Medical Capital Holdings, Inc. Investors Regarding the Class Action Filed Against Securities America, Inc. from the Law Firm of Tramont Guerra & Nunez, PA


Coral Gables (Vocus) October 3, 2009

The Law Firm of Tramont Guerra & Nunez, PA (TGN) makes an announcement to all investors in Medical Capital Holdings, Inc. (“MCH”) concerning the class action lawsuit (Case No. 09-cv-1084) filed on September 18, 2009, in the United States District Court, Central District of California. The class action lawsuit was filed on behalf of investors in the five Special Purpose Corporations, MP II, MP III, MP IV, MP V, and MP VI, (“SPCs”) created by MCH to raise capital through the offering of promissory notes. The class action names Securities America, Inc. among others, as a defendant, and alleges violations of Sections 12(a)(1) and 12(a)(2) of the Securities Act of 1933 (“the Act”). In selling unregistered MCH securities, the defendants were required by the Act to sell only to accredited investors. As it pertains to natural persons, an accredited investor has been defined as: (a) a person with an individual net worth, or joint net worth with his or her spouse, of over $ 1 million at the time of purchase, or (b) a person whose individual income exceeds $ 200,000, or $ 300,000, jointly with his or her spouse, in the two years prior to the purchase at issue, together with a reasonable expectation of current income levels at the time of purchase. The first count of the class action alleges that Securities America, and others, violated the Act by selling an unregistered MCH security to non-accredited investors. In support thereof, the class action alleges that defendants were responsible for the distribution of MCH literature to the general public and the solicitation of various unaccredited investors, via invitational information sessions.

Count two of the class action alleges a violation of Section 12(a)(2). The alleged violation was due to the fact that the Private Placement Memorandums (“PPMs”), which the lawsuit alleges constituted a prospectus within the meaning of Section 12 of the Securities Act, contained, among other things, “untrue statements of material fact and omitted other material facts concerning the use to which investor funds would be put.” This information, according to the class action, was essential to make the statements in the PPMs not misleading. In connection with the second count, the class action asserts the defendant’s owed the Plaintiffs the duty to make a “reasonable and diligent” inquiry to ascertain whether the information contained in the PPMs was accurate.

Investors should consider whether an individual securities arbitration claim filed with the Financial Industry Regulatory Authority (FINRA) is a more effective method (than a class action) to recover their investment losses. The brokerage firms who distributed the securities issued by MCH and its affiliated entities were obligated to conduct due diligence of facts concerning the risks associated with the investments. Financial advisors told many investors that these securities were suitable for current income investment objectives. Brokerage firms are obligated to give, and investors are entitled to rely upon brokerage firms for, competent, suitable investment advice in accordance with FINRA Rules and Regulations. Recommendations of unsuitable investments and/or failure to conduct adequate due diligence are both causes of action that form the basis for individual securities arbitration claims filed with FINRA.

The Securities Law Firm of Tramont Guerra & Nunez, PA, is a nationally recognized, Martindale Hubbell “AV” rated securities law firm. To request a confidential consultation from a TGN attorney to assist you in determining whether you have a viable individual claim for investment losses that exceed $ 100,000 from a full service brokerage account, contact us on our website. To speak directly with an attorney, call (800) 578-0137 and ask for Benjamin Fernandez, Esquire.

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Be the first to comment - What do you think?  Posted by Sitememos Admin - February 7, 2011 at 10:31 pm

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Notice to All Medical Capital Holdings, Inc. Investors Regarding the Class Action Filed Against Securities America, Inc. from the Law Firm of Tramont Guerra & Nunez, PA


Coral Gables (Vocus) October 3, 2009

The Law Firm of Tramont Guerra & Nunez, PA (TGN) makes an announcement to all investors in Medical Capital Holdings, Inc. (“MCH”) concerning the class action lawsuit (Case No. 09-cv-1084) filed on September 18, 2009, in the United States District Court, Central District of California. The class action lawsuit was filed on behalf of investors in the five Special Purpose Corporations, MP II, MP III, MP IV, MP V, and MP VI, (“SPCs”) created by MCH to raise capital through the offering of promissory notes. The class action names Securities America, Inc. among others, as a defendant, and alleges violations of Sections 12(a)(1) and 12(a)(2) of the Securities Act of 1933 (“the Act”). In selling unregistered MCH securities, the defendants were required by the Act to sell only to accredited investors. As it pertains to natural persons, an accredited investor has been defined as: (a) a person with an individual net worth, or joint net worth with his or her spouse, of over $ 1 million at the time of purchase, or (b) a person whose individual income exceeds $ 200,000, or $ 300,000, jointly with his or her spouse, in the two years prior to the purchase at issue, together with a reasonable expectation of current income levels at the time of purchase. The first count of the class action alleges that Securities America, and others, violated the Act by selling an unregistered MCH security to non-accredited investors. In support thereof, the class action alleges that defendants were responsible for the distribution of MCH literature to the general public and the solicitation of various unaccredited investors, via invitational information sessions.

Count two of the class action alleges a violation of Section 12(a)(2). The alleged violation was due to the fact that the Private Placement Memorandums (“PPMs”), which the lawsuit alleges constituted a prospectus within the meaning of Section 12 of the Securities Act, contained, among other things, “untrue statements of material fact and omitted other material facts concerning the use to which investor funds would be put.” This information, according to the class action, was essential to make the statements in the PPMs not misleading. In connection with the second count, the class action asserts the defendant’s owed the Plaintiffs the duty to make a “reasonable and diligent” inquiry to ascertain whether the information contained in the PPMs was accurate.

Investors should consider whether an individual securities arbitration claim filed with the Financial Industry Regulatory Authority (FINRA) is a more effective method (than a class action) to recover their investment losses. The brokerage firms who distributed the securities issued by MCH and its affiliated entities were obligated to conduct due diligence of facts concerning the risks associated with the investments. Financial advisors told many investors that these securities were suitable for current income investment objectives. Brokerage firms are obligated to give, and investors are entitled to rely upon brokerage firms for, competent, suitable investment advice in accordance with FINRA Rules and Regulations. Recommendations of unsuitable investments and/or failure to conduct adequate due diligence are both causes of action that form the basis for individual securities arbitration claims filed with FINRA.

The Securities Law Firm of Tramont Guerra & Nunez, PA, is a nationally recognized, Martindale Hubbell “AV” rated securities law firm. To request a confidential consultation from a TGN attorney to assist you in determining whether you have a viable individual claim for investment losses that exceed $ 100,000 from a full service brokerage account, contact us on our website. To speak directly with an attorney, call (800) 578-0137 and ask for Benjamin Fernandez, Esquire.

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Be the first to comment - What do you think?  Posted by Sitememos Admin - January 31, 2011 at 10:20 pm

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Notice to All Medical Capital Holdings, Inc. Investors Regarding the Class Action Filed Against Securities America, Inc. from the Law Firm of Tramont Guerra & Nunez, PA


Coral Gables (Vocus) October 3, 2009

The Law Firm of Tramont Guerra & Nunez, PA (TGN) makes an announcement to all investors in Medical Capital Holdings, Inc. (“MCH”) concerning the class action lawsuit (Case No. 09-cv-1084) filed on September 18, 2009, in the United States District Court, Central District of California. The class action lawsuit was filed on behalf of investors in the five Special Purpose Corporations, MP II, MP III, MP IV, MP V, and MP VI, (“SPCs”) created by MCH to raise capital through the offering of promissory notes. The class action names Securities America, Inc. among others, as a defendant, and alleges violations of Sections 12(a)(1) and 12(a)(2) of the Securities Act of 1933 (“the Act”). In selling unregistered MCH securities, the defendants were required by the Act to sell only to accredited investors. As it pertains to natural persons, an accredited investor has been defined as: (a) a person with an individual net worth, or joint net worth with his or her spouse, of over $ 1 million at the time of purchase, or (b) a person whose individual income exceeds $ 200,000, or $ 300,000, jointly with his or her spouse, in the two years prior to the purchase at issue, together with a reasonable expectation of current income levels at the time of purchase. The first count of the class action alleges that Securities America, and others, violated the Act by selling an unregistered MCH security to non-accredited investors. In support thereof, the class action alleges that defendants were responsible for the distribution of MCH literature to the general public and the solicitation of various unaccredited investors, via invitational information sessions.

Count two of the class action alleges a violation of Section 12(a)(2). The alleged violation was due to the fact that the Private Placement Memorandums (“PPMs”), which the lawsuit alleges constituted a prospectus within the meaning of Section 12 of the Securities Act, contained, among other things, “untrue statements of material fact and omitted other material facts concerning the use to which investor funds would be put.” This information, according to the class action, was essential to make the statements in the PPMs not misleading. In connection with the second count, the class action asserts the defendant’s owed the Plaintiffs the duty to make a “reasonable and diligent” inquiry to ascertain whether the information contained in the PPMs was accurate.

Investors should consider whether an individual securities arbitration claim filed with the Financial Industry Regulatory Authority (FINRA) is a more effective method (than a class action) to recover their investment losses. The brokerage firms who distributed the securities issued by MCH and its affiliated entities were obligated to conduct due diligence of facts concerning the risks associated with the investments. Financial advisors told many investors that these securities were suitable for current income investment objectives. Brokerage firms are obligated to give, and investors are entitled to rely upon brokerage firms for, competent, suitable investment advice in accordance with FINRA Rules and Regulations. Recommendations of unsuitable investments and/or failure to conduct adequate due diligence are both causes of action that form the basis for individual securities arbitration claims filed with FINRA.

The Securities Law Firm of Tramont Guerra & Nunez, PA, is a nationally recognized, Martindale Hubbell “AV” rated securities law firm. To request a confidential consultation from a TGN attorney to assist you in determining whether you have a viable individual claim for investment losses that exceed $ 100,000 from a full service brokerage account, contact us on our website. To speak directly with an attorney, call (800) 578-0137 and ask for Benjamin Fernandez, Esquire.

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Be the first to comment - What do you think?  Posted by Sitememos Admin - January 27, 2011 at 10:21 pm

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Judge Certifies Nationwide Consumer Class Action Against Ecount and Hometown Financial Services

(PRWEB) October 3, 2004

On September 24, 2004, a California judge ruled that a lawsuit against Conshohocken, Pennsylvania-based Ecount and California-based Hometown Financial Services will proceed as a class action on behalf of a nationwide class of consumers. The class action alleges that Ecount and Hometown deceived thousands of consumers nationwide by sending a postcard solicitation bearing an Ecount Mastercard® logo, suggesting they were pre-approved to receive an unsecured credit card when it was actually an invitation to buy a debit or “stored value” card for $ 278. Plaintiffs allege that the individuals receiving the solicitation were particularly vulnerable and carefully targeted because they had poor credit.

Plaintiffs’ counsel contend that consumers who paid money for what they believed was an unsecured credit card, were the victims of what has become a common “advance-fee credit card” scheme. The Federal Trade Commission has recently been active in investigating and exposing similar schemes.

The court-appointed class counsel, Mark J. Tamblyn of Kershaw, Cutter, Ratinoff & York LLP and Brent Irby of the McCallum Law Firm, filed the action in July 2003.

According to the lawsuit, the defendants deducted funds directly from consumers’ bank accounts who responded to the solicitation. Mr. Tamblyn, says that he believes “tens of thousands of consumers were victims of this well-recognized advance-fee credit card scheme.” He added that “the prosecuting law firms are dedicated to providing these victims with a remedy.”

Kershaw, Cutter, Ratinoff & York LLP prosecutes class actions and other complex litigation on behalf of a wide range of consumer and business clients, in state and federal courts throughout the United States. The firm is based in Sacramento, California. Contact: Mark J. Tamblyn (916) 448-9800 or mtamblyn@kcrylaw.com.

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Be the first to comment - What do you think?  Posted by Sitememos Admin - January 11, 2011 at 10:21 pm

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Notice of Pendency of Securities Fraud Class Action Against MRT Holdings LLC

Fort Lauderdale, Florida (PRWEB) June 6, 2008

A securities fraud class action was filed in the United States District Court for the Southern District of Florida against MRT, LLC, MRT Holdings LLC, James Clements and Zeina Smidi, Case No. 07-61438. The class action was filed on behalf of all persons who invested in MRT from March 1, 2006 through the filing of the complaint on Oct. 5, 2007, inclusive (the “Class Period”).

The Complaint charges beginning in or about March, 2006 through the present, MRT, under Clements’s direction, offered promissory note investments to the general public in a Ponzi Scheme. It is alleged the investments were offered for the purpose of allowing MRT to trade in foreign currencies, purportedly through unidentified Swiss banks. In return for this investment capital, MRT and the individual defendants promised investors fixed rates of return as high as over one hundred percent (100%) annually, payable in monthly interest payments.

The Complaint also alleges that MRT solicited “loans” or “investments” from unsuspecting investors for the purported purpose of trading “FOREX” futures and options. In exchange for this investment, MRT promised and, in some cases, has paid rates of interest from about twelve percent annually (12%) to as high as over eleven percent (11%) a month. The complaint also alleged that MRT’s investment program operated as a Ponzi scheme, i.e., a scheme whereby returns are paid to investors from monies contributed by later investors. The complaint charges the Defendants with selling investments that constitute investment contracts, and therefore, qualify as securities under Section 2(a)(1) of The Securities Act of 1933, 15 U.S.C. § 77b(1)(1), and Section 3(a)(10) of The Securities Exchange Act of 1934, 15 U.S.C. § 78(a)(10). The complaint charges that the defendants sold unregistered securities in violation of Section 5(a) and also violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

At this time, it appears that MRT is no longer operating, and has stopped paying all investors.

The plaintiffs are represented by the Fort Lauderdale law firm of Sonn & Erez PLC, which has experience representing defrauded investors in class actions, and in arbitration. Sonn & Erez PLC has recovered millions of dollars for victims of investment fraud.

Any member of the proposed class who desires to be appointed lead plaintiff in this action must file a motion with the court by August 5, 2008. If you have questions or information regarding this action, or if you are interested in serving as a lead plaintiff in this action, you may call or write:

Jeffrey R. Sonn, Esq.

Sonn & Erez PLC

Broward Financial Center, Suite 1600

Fort Lauderdale, FL 33394

T. 954-763-4700

www.sonnerez.com

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Be the first to comment - What do you think?  Posted by Sitememos Admin - January 1, 2011 at 10:28 pm

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Class Action Lawsuit Against Canadian Insurance Company Succeeds

Class Action Lawsuit Against Canadian Insurance Company Succeeds

It sounds similar to a cliché scene from a b-list movie. A kindly, eldery gentleman challenges an illegal corporate policy by standing up and protesting at the company’s annual meeting.

In 1998, however, Bill rudd did exactly this. The business involved was London Life, a large insurance company, where Rudd had both stock and a policy. As he was looking over the business’ annual report, he discovered something curious.

A merger with another company, Great West Life, was the reason London Life transferred about 0 million from policyholder accounts. He decided to challenge the transfer at London Life’s annual meeting, because he believed it violated the terms of the Insurance Companies Act.

The insurance companies claimed that they had reimbursed policyholders, by giving them pre-paid expense assets. Policyholder protested anyway, because the PPEAs were never translated into any real financial resources.

This protest was the beginning of an intense, twelve year battle in the courts. After calling his lawyer, Rudd filed a class action against the insurance companies. Although the legal conflict lasted for more than ten years, no one was willing to give in and settle. Recently the case was heard by Justice Johanne Morissette in a forty five day hearing.

This battle was won by the policyholders, at least so far. Justice Morissette ruled that it was a violation of the law for the companies to take from the accounts of policyholders to fund a merger. Great West Life is owned by Montreal giant Power Financial Corp, and this company was ordered to pay policyholders of London life 2 million and Great West life policyholders million. In total about 5.7 million is being distributed to roughly 1.8 million Canadians.

Both businesses state that their capital positions will not be affected by the payouts, though some outside observers find this questionable. Great West Life is appealing the decision, saying that several aspects of the ruling were in error. Needless to say, both corporations are happy that the court did not award the to billion Rudd’s lawyers were looking for from the class action lawsuit.

Sometimes it is the largest, most successful businesses that have the most to fear from class actions, and the highest chance of being hit with one. Investors considering of buying shares across the pond should not forget this.

Goal Group Limited is widely-acknowledged in the financial services sector for its innovative and creative solutions to highly-specialised niche processes such as<a rel=”nofollow” onclick=”javascript:_gaq.push(['_trackPageview', '/outgoing/article_exit_link']);” href=”http://www.goalgroup.com”>class action lawsuits</a> and <a rel=”nofollow” onclick=”javascript:_gaq.push(['_trackPageview', '/outgoing/article_exit_link']);” href=”http://www.goalgroup.com/solutions/goal-taxback.html”>tax reclaims</a><br /><br />


Article from articlesbase.com

Public Citizen Attorney Deepak Gupta weighs in on whether the Supreme Court will allow companies to insert class-action bans into contracts.

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Be the first to comment - What do you think?  Posted by Sitememos Admin - December 24, 2010 at 10:22 pm

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