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Improper accounting adjustments held insufficient basis for securities fraud claims

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • March 18 2011

A federal district court in California recently dismissed class action securities fraud claims arising out of several improper accounting adjustments made by VeriFone Holdings, Inc

Court denies request for preliminary injunction to delay shareholder meeting

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • February 12 2010

The U.S. District Court for the Southern District of New York recently denied a request by a co-founder and director of Enzo Biochem, Inc. for a preliminary injunction to delay the company’s shareholder meeting by 45 days

Weak internal controls and GAAP violations supported inference of scienter in securities class action

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • December 18 2009

The U.S. District Court for the Southern District of New York denied defendants’ motion to dismiss in a consolidated securities class action lawsuit, where defendant corporation had to restate its financials after making a series of disclosures regarding poor accounting controls