Lowdown in Lodi
August 14th, 2006, 04:30 PM
From m680x0 at XM411--
After all the press releases, it looks like the lawyers found a grand total
of 5 named plaintiffs in the shareholder suit against XM. The total of all
claimed losses is $1,335,549. Insurance should pay it off in a year or two
with little to no effect on earnings would be my guess. The attached file is
the latest order in the case which names Boca Raton Firefighters and Police
Pension Fund, and
Plumbers Local 267 Pension Fund the lead plaintiffs in the case.
----------------------------------------------------------------------
The consolidated complaints seek recovery for plaintiffs’ losses under
Section
21D(a)(3)(B) of the Securities Exchange Act of 1934, 15 U.S.C.
§78u-4(a)(3)(B), as amended by Section 101(a) of the PSLRA. Initially, five
individuals or plaintiff groups moved for lead plaintiff designation. They
were:
(1) Boca Raton Firefighters and Police Pension Fund, and Plumbers Local 267
Pension Fund (the “Union Pension Group”), whose losses total $551,872, and
its choice of Lerach Coughlin Stoia Geller Rudman & Robbins LLP as lead
counsel;
(2) a group of four individuals, “the Zarif Group,” whose losses total
$471,671, and its selection of Motley Rice LLC and Kahn Gauthrier Swick, LLC
as co-lead counsel, and Cohen, Milstein, Case 1:06-cv-00802-ESH Document 37
Filed 08/01/2006 Page 2 of 13
2 Vincent Ventimiglia now claims that the first motion filed in his name was
done without his authorization. (See Joint Rep. of Zarif Group and Adam
Barber Ex. B.) This motion has been withdrawn and Mr. Ventimiglia has joined
with the Zarif Group. (Id. at 2 n.2.) Hausfeld & Toll, PLC as liaison
counsel;
(3) an individual, Victor Ventimiglia, whose losses total $46,390, and his
choice of co-lead counsel, Stull, Stull & Brody and Kantrowitz Goldhamer &
Graifman, P.C., as well as The Mason Law Firm, P.C., as liaison counsel;
(4) an individual,Ron Price, who seeks to be named lead plaintiff of the
sub-class of options purchasers, whose losses total $13,616, and his
selection of Finkelstein, Thompson & Loughran as lead counsel;
and
(5) an individual, Adam Barber, whose losses total $252,000, and his choice
of Yourman Alexander & Parkh as lead counsel and Cuneo Gilbert & Ladura LLP
as liaison counsel.
After all the press releases, it looks like the lawyers found a grand total
of 5 named plaintiffs in the shareholder suit against XM. The total of all
claimed losses is $1,335,549. Insurance should pay it off in a year or two
with little to no effect on earnings would be my guess. The attached file is
the latest order in the case which names Boca Raton Firefighters and Police
Pension Fund, and
Plumbers Local 267 Pension Fund the lead plaintiffs in the case.
----------------------------------------------------------------------
The consolidated complaints seek recovery for plaintiffs’ losses under
Section
21D(a)(3)(B) of the Securities Exchange Act of 1934, 15 U.S.C.
§78u-4(a)(3)(B), as amended by Section 101(a) of the PSLRA. Initially, five
individuals or plaintiff groups moved for lead plaintiff designation. They
were:
(1) Boca Raton Firefighters and Police Pension Fund, and Plumbers Local 267
Pension Fund (the “Union Pension Group”), whose losses total $551,872, and
its choice of Lerach Coughlin Stoia Geller Rudman & Robbins LLP as lead
counsel;
(2) a group of four individuals, “the Zarif Group,” whose losses total
$471,671, and its selection of Motley Rice LLC and Kahn Gauthrier Swick, LLC
as co-lead counsel, and Cohen, Milstein, Case 1:06-cv-00802-ESH Document 37
Filed 08/01/2006 Page 2 of 13
2 Vincent Ventimiglia now claims that the first motion filed in his name was
done without his authorization. (See Joint Rep. of Zarif Group and Adam
Barber Ex. B.) This motion has been withdrawn and Mr. Ventimiglia has joined
with the Zarif Group. (Id. at 2 n.2.) Hausfeld & Toll, PLC as liaison
counsel;
(3) an individual, Victor Ventimiglia, whose losses total $46,390, and his
choice of co-lead counsel, Stull, Stull & Brody and Kantrowitz Goldhamer &
Graifman, P.C., as well as The Mason Law Firm, P.C., as liaison counsel;
(4) an individual,Ron Price, who seeks to be named lead plaintiff of the
sub-class of options purchasers, whose losses total $13,616, and his
selection of Finkelstein, Thompson & Loughran as lead counsel;
and
(5) an individual, Adam Barber, whose losses total $252,000, and his choice
of Yourman Alexander & Parkh as lead counsel and Cuneo Gilbert & Ladura LLP
as liaison counsel.