Tellabas Securities Class Action Lawsuit

By Andrea Gressman

It was recently announced that a securities class action lawsuit was filed against Tellabs Inc. (NASDAQ: TLAB) on the behalf of those who purchased shares of Tellabs between the dates of October 26, 2010 and April 26, 2011. The securities lawsuit charges Tellabs and some its executive officers with violating the federal securities laws.

Tellabs designs, develops and supports telecommunications networking products. According to the class action lawsuit, Tellabs made false statements that misled shareholders, future shareholders and the general public. The securities lawsuit goes on to state that Tellabs failed to disclose facts and information that were negative about the company, including details of its operations, business, and prospects.

Longwei Petroleum Securities Class Action Lawsuit

By Andrea Gressman

A securities class action lawsuit has been filed against Longwei Petroleum Investment Holding Limited (LPH) in the U.S. District Court for the Central District of California. The securities lawsuit was filed on behalf of all persons or entities that made a purchase of any Longwei common stock between the dates of May 17, 2010 and January 3, 2013.

Longwei Petroleum Investment Holding Limited is a company that provides the wholesale distribution of energy to the People’s Republic of China. The Longwei securities lawsuit claims that the defendants made false as well as misleading statements to shareholders and omitted critical facts about the company that were negative in nature regarding the company’s future prospects and operations of the company.

Envivio Hit with Securities Class Action Lawsuit

By Christina Drury

A significant drop in the expected revenue for Envivio (NASDAQ: ENVI) has resulted in the filing of a securities class action lawsuit. The lawsuit claims that Envivio had blatantly overstated its expected revenues and kept pertinent information from the investors who were purchasing securities and thus, violated Securities Act of 1933 – the act that was established to regulate both the offer and the sale of securities. Since the initial purchase offering (IPO), the value of Envivio’s securities has plummeted 79% calling for the filing of the securities fraud lawsuit.

Credit Suisse Employee Accused of Securities Fraud

By John Curran

For many investors, the successful outcome of stock fraud lawsuits is a civil action where they recoup some of their lost income. While it is much more rare, criminal actions also serve a benefit as a deterrent to other company officials who may be considering cooking the books. In the worst case of securities fraud, that may indeed come to fruition, with a U.S. banking official extradited from London to face charges here.

Stock Fraud Statutes of Limitations May Increase

By John curran

The Supreme Court will have to decide this year about a key point in stock fraud cases: when the clock on the statute of limitations begins. Gabelli Funds LLC has a vested interest in the outcome; they face substantial fines if the court rules in favor of the SEC.

What the agency wants to do is be able to extend the timeframe to a certain extent. They argue that they cannot institute securities fraud proceedings if they are not aware of any wrongdoing. It is a key wrinkle: the fraud occurred in 2002, the investigation in 2003 and the stock fraud claim in 2008. The statute of limitations sets the timeframe at five years, which is why the Supreme Court's decision matters so much.