Archive for the ‘New Securities Cases’ Category

Satyam Computer Services Ltd.

Wednesday, January 7th, 2009

Vianale & Vianale LLP Files Class Action on Behalf of Investors of Satyam Computer Services Ltd.

BOCA RATON, FL (January 7, 2009) – The law firm of Vianale & Vianale LLP announces that it filed a class action lawsuit on January 7, 2009 on behalf of purchasers of the American Depository Shares of Satyam Computer Services Ltd. (“Satyam” or the “Company”) (NYSE: “SAY”) during the period January 6, 2004 through January 6, 2009 (the “Class Period”). Shareholders may obtain a copy of the complaint by calling our offices or emailing us at the e-mail addresses listed below. The action is pending in Manhattan federal court, Case No. 09-CV-00093.

The complaint alleges that the Company and its top executives violated Section 10(b) and 20(a) of the Securities Exchange Act of 1934 by issuing false and misleading financial statements. On January 7, 2009, the Company’s CEO B. Ramalinga Raju sent a letter to the Satyam Board of Directors and the Securities & Exchange Board of India acknowledging a “multi-year” fraud in which Satyam’s financial accounts and disclosures were systematically falsified. According to the letter, Raju admitted to having inflated the amount of cash on the Company’s balance sheet by nearly $1 billion, incurring liability of $253 million on funds arranged by him personally, and overstating Satyam’s September 2008 quarterly revenues by 76% and profits by 97%. As a result of this disclosure pre-market activity in the stock indicates a loss of roughly 90% of its value.

If you bought Satyam ADS’s from January 6, 2004 through January 6, 2009, no later than 60 days from today, you may move the court to appoint you as lead plaintiff, a representative party that acts on behalf of other class members. The court must  determine whether the class member’s claim is typical of other members’ claims, and hether the class member will adequately represent the class. Your ability to recover is not, however, affected by your decision whether or not to serve as a lead plaintiff. Vianale & Vianale LLP is active in major litigations pending in federal and state courts. More about the firm is available on its website.

If you wish to discuss this action with us, or have any questions concerning our lawsuit, this notice or your rights and interests with regard to this case, please contact:

Kenneth J. Vianale, Esq.
kvianale@vianalelaw.com

Ismael Aviles
iaviles@vianalelaw.com

Vianale & Vianale LLP
2499 Glades Road, Suite 112
Boca Raton, FL 33431
888- 657-9960 (Toll Free)
(561) 392-4750
www.vianalelaw.com

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China Organic Agriculture, Inc.

Thursday, December 18th, 2008

Vianale & Vianale LLP Files Class Action On Behalf of Investors of China Organic Agriculture, Inc.

BOCA RATON, FL (December 18, 2008) – The law firm of Vianale & Vianale LLP announces that it filed a class action lawsuit on December 12, 2008 on behalf of purchasers of the common stock of China Organic Agriculture, Inc. (OTCBB: “CNOA”) during the period July 12, 2007 through August 14, 2008 (the “Class Period”). A copy of the complaint can be obtained by calling our offices or by e-mailing us at either of the e-mail addresses listed below. The action (Case No. 08-CV-10810) is pending in Manhattan federal court.

The complaint alleges that the Company made false and misleading statements during the Class Period about its organic rice business even though China Organic’s business model was not likely to turn any profit. The defendants sold tens of millions of dollars worth of the Company’s stock prior to announcing that the Company would sell its organic rice operation. Within eighteen months of taking the Company public, defendants sold the Company’s only significant business operation, leaving shareholders with virtually worthless stock.

If you bought common stock from July 12, 2007 to August 14, 2008, no later than February 10, 2009, you may move the court to appoint you as lead plaintiff, a representative party that acts on behalf of other class members. The court must determine whether the class member’s claim is typical of other members’ claims, and whether the class member will adequately represent the class. Your ability to recover is not, however, affected by the decision whether or not to serve as a lead plaintiff. Vianale & Vianale LLP is active in major litigations pending in federal and state courts.

If you wish to discuss this action with us, or have any questions concerning our lawsuit, this notice, or your rights and interests with regard to this case, please contact:

Kenneth J. Vianale
Ismael Aviles

Vianale & Vianale LLP
2499 Glades Road, Suite 112
Boca Raton, FL 33431
888- 657-9960 (Toll Free)
(561-392-4750)

Email: kvianale@vianalelaw.com
Email: iaviles@vianalelaw.com

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Crystallex International Corporation

Thursday, December 18th, 2008

Vianale & Vianale LLP Files Class Action On Behalf of Investors of Crystallex International Corporation

BOCA RATON, FL (December 18, 2008) – The law firm of Vianale & Vianale LLP announces that it filed a class action lawsuit on December 8, 2008 on behalf of purchasers of the common stock of Crystallex International Corporation (AMEX: “KRY”) during the period July 28, 2005 through April 30, 2008 (the “Class Period”).  A copy of the complaint can be obtained by calling our offices or by e-mailing us at either of the e-mail addresses listed below.  The action (Case No. 08-CV-10631) is pending in Manhattan federal court.

The complaint alleges that Crystallex hid the full extent of the problems the Company was experiencing with the Venezuelan government in securing the requisite “Impact Renewable Natural Resources Permit” for the exploration, development and mining of the Las Cristinas mine in Sifontes, Venezuela.  As a result of the permit denial, the Company’s stock fell roughly from a closing price of $1.68 on April 29, 2008, to a closing price of $0.91 on April 30, 2008, on heavy trading volume.

If you bought common stock from July 28, 2005 to April 30, 2008 no later than February 6, 2009, you may move the court to appoint you as lead plaintiff, a representative party that acts on behalf of other class members. The court must determine whether the class member’s claim is typical of other members’ claims, and whether the class member will adequately represent the class.  Your ability to recover is not, however, affected by the decision whether or not to serve as a lead plaintiff.  Vianale & Vianale LLP is active in major litigations pending in federal and state courts.

If you wish to discuss this action with us, or have any questions concerning our lawsuit, this notice or your rights and interests with regard to this case, please contact:

Kenneth J. Vianale
Ismael Aviles

Vianale & Vianale LLP
2499 Glades Road, Suite 112
Boca Raton, FL 33431
888- 657-9960 (Toll Free)
(561-392-4750)

E-mail: kvianale@vianalelaw.com
E-mail: iaviles@vianalelaw.com

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Freddie Mac 8.375% Series Z Preferred

Tuesday, September 23rd, 2008

Vianale & Vianale LLP Files Class Action Lawsuit on Behalf of Purchasers of The Freddie Mac Series Z Preferred Stock

BOCA RATON, FL (September 23, 2008) – The law firm of Vianale & Vianale LLP announces that it filed a class action lawsuit on September 23, 2008 on behalf of all persons who purchased Freddie Mac 8.375% Non-Cumulative Perpetual Preferred Stock, Series Z (the “Series Z Preferred”) (NYSE: “FRE-PZ”).

The action names some of the underwriters for the Series Z Preferred stock: Goldman Sachs & Co., J.P. Morgan Chase & Co., and Citigroup Global Markets, Inc. The action is brought on behalf of all purchasers of the Freddie Mac Series Z Preferred who purchased shares in or traceable to the November 29, 2007 initial public offering for this security. A copy of the complaint can be obtained by calling the offices of Vianale & Vianale or from the website at: www.vianalelaw.com. The action (Case No. 08-CV-8181) was filed in U.S. District Court for the Southern District of New York.

The complaint alleges that the defendant underwriters violated Section 12(a)(2) of the Securities Act of 1933. Plaintiff alleges that the Offering Circular and other offering materials for the $6 billion preferred stock offering, failed to warn investors about Freddie Mac’s fatal exposure to mortgage-related losses, poor underwriting standards and risk management procedures, and the negative impact of those failings on the adequacy of Freddie Mac’s capital. Defendants were underwriters of the Series Z Preferred initial public offering. They sold the shares to the public in a firm commitment underwriting at $25 per share less than a year ago. The shares now trade at $2 per share.

If you bought shares of the Series Z Preferred (FRE-PZ) in the offering or from November 29, 2007 or thereafter, you may, no later than October 17, 2008, ask the court to appoint you as lead plaintiff, a representative party that acts on behalf of other class members. The court must determine whether the class member’s claim is typical of other members’ claims, and whether the class member will adequately represent the class. Your ability to recover is not, however, affected by the decision whether or not to serve as a lead plaintiff. Vianale & Vianale LLP is active in major litigations pending in federal and state courts. More about the firm is available on its website.

If you wish to discuss this action with us, or have any questions concerning our lawsuit, this notice or your rights and interests with regard to this case, please contact:

Kenneth J. Vianale, Esq.
Julie Prag Vianale. Esq.

Vianale & Vianale LLP
2499 Glades Road, Suite 112
Boca Raton, FL 33431

888- 657-9960 (Toll Free)
(561-392-4750)

E-mail: kvianale@vianalelaw.com

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