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On September 23, 2014, Judge John K. Dietz, District Court of Travis County, Texas, granted preliminary approval to the settlement of shareholder derivative litigation filed by the Schubert Firm and co-counsel on behalf of Bazaarvoice, Inc. The case is captioned Edmans v. Hurt, et al., No. D-1-GN-13-000874 (District Court of Travis County, Texas).

To view the Notice of Proposed Settlement, Final Hearing on Proposed Settlement, and Motion for Attorneys’ Fees and Expenses, click here.

To view the Settlement Agreement, click here.

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Schubert Jonckheer & Kolbe LLP is investigating potential derivative claims on behalf of shareholders of General Motors, related to the belated recall of millions of its vehicles with ignition switch flaws.

We are is investigating claims that GM’s Board of Directors knowingly or recklessly failed to timely report safety defects to its customers and regulators, failed to implement adequate internal controls and procedures to ensure timely reporting of safety defects, and disseminated inaccurate information regarding the Company’s safety record and business and financial condition—all in breach of their fiduciary obligations as directors of the Company.

As a result of these failures, GM is now the subject of numerous lawsuits, including personal injury suits and class actions based upon the ignition switch defect, as well as federal securities class actions filed on behalf of investors that purchased shares in GM.

If you are a current GM shareholder, contact us to obtain more information regarding our investigation by filling out our online form at left.

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We are currently investigating claims of false and misleading advertising involving Listerine Total Care mouthwash products. Listerine Total Care mouthwash products are advertised through claims that they “restore” tooth enamel, and consumers are allegedly charged a premium of approximately 33% more for these mouthwash products than for other Listerine brand mouthwash. However, dental experts have concluded that tooth enamel cannot be restored.

If you have purchased any of the following products and believe that you were misled, please contact us by filling out the form on the left or calling Miranda Kolbe at (415) 788-4220. The products include Listerine Total Care Fresh Mint Anticavity Mouthwash, Listerine Total Care Zero Fresh Mint Anticavity Mouthwash, Listerine Total Care Cinnamint Anticavity Mouthwash, and Listerine Total Care Plus Whitening products.

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Schubert Jonckheer & Kolbe LLP is currently investigating claims on behalf of shareholders of Annie’s, Inc. (“Annie’s” or the “Company”) (NYSE: BNNY). Shareholders are encouraged to contact please contact us by filling out the form on the left or calling Miranda Kolbe at (415) 788-4220.

The investigation concerns whether certain of Annie’s officers and/or directors have breached their fiduciary duties to the Company.

On June 4, 2014, Annie’s announced that the Audit Committee of its Board of Directors was informed by the Company’s accounting firm, PricewaterhouseCoopers LLP (“PwC”) that PwC was resigning as its auditor effective the earlier of August 11, 2014 or the date upon which the Company files with the Securities and Exchange Commission (the “SEC”) its Form 10-Q for the quarter ending June 30, 2014.

Annie’s also disclosed that there was “material weakness in its internal control over financial reporting” for the fiscal year ended March 31, 2014, specifically related to “an insufficient complement of finance and accounting resources, including employee turnover, within the organization resulting in design deficiencies in certain areas in which our controls were not precise enough to detect misstatements that in the aggregate could be material to the consolidated financial statements.”

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The Schubert firm is investigating claims against certain officers and directors of SolarCity Corporation for breaches of their fiduciary duties to SolarCity.  SolarCity designs, installs and sells or leases solar energy systems in the United States to government entities and residential and commercial customers.

On March 3, 2014, SolarCity announced that it had discovered an error in its financial reporting, which resulted in improper classification of millions of dollars in overhead expenses.  SolarCity announced that its financial statements as of December 31, 2012 and for the periods ended March 31, 2012, June 30, 2012, September 30, 2012, March 31, 2013, June 30, 2013 and September 30, 2013, should no longer be relied upon.  SolarCity further disclosed that it would recognize a downward adjustment of assets related to solar energy systems leased and to be leased and an upward adjustment to the costs of solar energy system sales in those periods.

On March 18, 2014, the Company further disclosed that it had discovered errors related to its accounting for non-cash stock based compensation costs, and related to its classification of certain of its noncontrolling interests in subsidiaries.  As a result, the Company’s prior financial statements for the annual periods ended December 31, 2010, 2011 and 2012 should no longer be relied upon.

Between the opening of the market on March 3, 2014 and the market’s close on March 19, 2014, SolarCity’s share price dropped approximately 13%.

Class actions have been filed against the Company and certain of its officers on behalf of persons or entities who purchased shares in SolarCity between March 6, 2013 and November 18, 2014 in the District Court for the Northern District of California.  These lawsuits allege that the defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.

If you are a current SolarCity shareholder, you may contact us to obtain more information regarding our investigation by filling out the form to the left of this page.

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On March 15, 2013 the Delaware Chancery Court approved a $16.25 million settlement of claims that officers and directors of Toll Brothers Inc. (TOL), a luxury homebuilder, breached their fiduciary duties by making false statements and trading on inside information. The case settled after plaintiff’s counsel reviewed over 70,000 pages of documents and took nineteen depositions. In the course of the case we obtained a key ruling rejecting defendants’ arguments that Delaware’s leading insider trading precedent, Brophy v. Cities Service Co., 70.A.2d 5 (Del. Ch. 1949) was outdated and should be overruled.

Read the full opinion, Pfeiffer v. Toll, 989 A.2d 683 (Del. Ch. 2010)

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On October 7, 2011, Judge Richard A. Kramer of the San Francisco Superior Court granted final approval of the $3.6 million settlement in Herron, et al. v. Lark Creek Investment Management Company, et al., Case No. CGC-10-496342.  The Schubert Firm served as Co-Lead Class Counsel in the case.  Plaintiffs’ investments in the feeder fund Starlight, L.P., which invested nearly all of its assets with Bernie Madoff, were destroyed when Madoff’s Ponzi scheme was revealed in December 2008.  The complaint alleged that the feeder fund’s auditor was professionally negligent and breached its contract with the feeder fund in issuing “clean” audit opinions on the feeder fund’s financial statements between 2003 and 2007.  Pro rata payments to the Class Members are expected to be completed in December 2011.

Please visit the settlement website for more information:
http://starlightsettlement.com

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The Alabama Supreme Court has rejected an appeal by former HealthSouth Corporation CEO Richard Scrushy, who sought reversal of a $2.9 billion judgment obtained in a shareholder derivative suit brought on HealthSouth’s behalf. After an eleven day non-jury trial, Judge Allwin E. Horn, III, an Alabama Circuit Court judge, previously found that Mr. Scrushy knew and participated in a massive accounting fraud, labeling Mr. Scrushy as “the CEO of the fraud.” Judge Horn found that Mr. Scrushy consciously and willfully breached his fiduciary duties as HealthSouth’s CEO. The Schubert firm is co-lead counsel in the case.

» Read Judge Horn’s entire opinion.
» Read the Alabama Supreme Court opinion.

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On May 16, 2011, Judge Richard A. Kramer of the San Francisco Superior Court granted final approval of the settlement in Gewalt v. AT&T Services, Inc., Case No. CGC-07-469792. The Schubert Firm served as Class Counsel in the case. The complaint alleged that the defendants deceptively advertised and failed to honor their promises to rebate the price of modems that were purchased by California customers in conjunction with DSL service from AT&T, in violation of California law. In response to this case, AT&T has already paid over $3.5 million to over 69,000 California AT&T customers. The settlement provided for a claims process for all remaining unpaid and late rebate payments on DSL modems to California AT&T customers. Over 25,000 persons submitted claim forms, and payments to the Class Members are expected to be completed in September 2011.

Please visit the settlement website for more information.

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