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"One person with belief is equal to a force of 99 who have only interests" -- John Stuart Mill (1906-1873)

cases handled by reed kathrein

court denies arbitration      6/9/2005

att/nsa    We are working with the The Electronic Frontier Foundation (EFF) in a class-action lawsuit against AT&T filed on January 31, 2006, accusing the telecom giant of violating the law and the privacy of its customers by collaborating with the National Security Agency (NSA) in its massive and illegal program to wiretap and data-mine Americans' communications.  3/1/2006

Cell Phone Early Termination Fees      5/22/2005

eBay shill bidding lawsuit    The case was brought on behalf of a Pennsylvania man who was harmed by eBay’s shill bidding practice on at least two occasions. Despite having been notified that he was the highest bidder, eBay raised the buyer’s bid without any further competing bids. In these cases eBay effectively acted as an invisible shill bidder so as to pump the auction price higher.  3/3/2005

dell bait and switch consumer fraud lawsuit    The world’s largest seller of personal computers is using high-tech advertising, bait-and-switch marketing and false claims of low-cost financing to lure and victimize California purchasers of Dell Computers and products, customers charge in a suit filed against the company and its financial partners.  5/1/2004

cv therapeutics securities litigation    This securities fraud action arises from false and misleading statements and omissions by CV Therapeutics, Inc. (“CVT”) regarding the likelihood that the FDA would approve CVT’s new anti-anginal drug Ranexa in 2004, including known issues with respect to the purported safety and efficacy of the drug. Lead Plaintiff  has asserted claims under §§10(b) and 20(a) of the Securities & Exchange Act of 1934, and Rule 10b-5 promulgated thereunder, on behalf of a proposed class of investors who purchased CVT’s publicly-traded securities between December 30, 2002 and December 5, 2003 (the “Class Period”). Named as defendants in this action are CVT and its two top officers: Chairman and Chief Executive Officer, (“CEO”) Louis Lange and Senior Vice President and Chief Financial Officer, (“CFO”) Daniel Spiegelman.  5/1/2004

Internet Gambling Lawsuit    The lawsuit alleges that the companies are accepting money to promote illegal Internet gambling sites on their search engines through paid or sponsored entries. The lawsuit, filed in the Superior Court of the State of California, names as defendants Yahoo, Google, Overture Services Inc., Ask Jeeves Inc., Looksmart Ltd., CNet Networks Inc., Altavista Inc., Terra Lycos Inc., Jupitermedia Corp., FindWhat.com, Kanoodle.com Inc., Business.com Inc., and Sex.com Inc.   5/1/2004

Pemstar Securities Fraud Class Action Settled    The proposed Settlement creates a fund in the amount of $12,000,000 in cash (the “Settlement”) and will include interest that accrues on the fund prior to distribution. Based on Lead Counsel’s estimate of the number of shares entitled to participate in the Settlement and the anticipated number of claims to be submitted by Settlement Class Members  5/22/2005

retek securities litigation    On July 8, 2002, Retek abruptly withdrew its guidance – guidance which defendants had reiterated just weeks earlier – and slashed expected revenue for 2002. On this news, Retek stock collapsed from $17.31 on July 8, 2002 to just $6.46 on July 9, 2002 – a single-day decline of more than 62%. Trading volume exceeded 20 times the normal volume. This is a securities fraud class action on behalf of persons and entities who purchased or acquired the securities of Retek between July 19, 2001 and July 8, 2002 (the "Class Period") and were damaged thereby.  3/8/2005

sony    Working with the EFF, we helped stop Sony from putting  flawed and overreaching computer programs in millions of music CDs sold to the public.  3/1/2006

tenet    Tenet launched an "aggressive pricing strategy" in June 1999 to increase gross charges for medical products and services and thereby to increase Tenet's revenues and profits. Tenet's scheme had the effect of gouging plaintiffs.  3/6/2005

titan securities litigation settled    This is a securities fraud class action arising out of defendants’ scheme and wrongful course of business, which involved defendants’ use of bribes and illegal payments to win contracts with foreign governments, and ultimately generate revenue and profits. This action is being brought on behalf of investors who purchased the common stock of The Titan Corporation (“Titan” or the “Company”) at artificially inflated prices between July 24, 2003 and June 25, 2004, inclusive (the “Class Period”). Defendants are Titan and certain of the Company’s key officers and directors.  3/15/2005

whitehall securities litigation    Defendants engaged in a reciprocal inventory scheme with Whitehall's vendors to inflate Whitehall's financial results. Lead Plaintiff Pennsylvania Fund brings this suit on behalf of all persons who acquired the common stock of Whitehall Jewellers, Inc.between November 19,2001, and December 10,2003 .  3/13/2005

Class action filed against AT&T for allegedly acting as NSA's agent in domestic spying. See the Amended Complaint.

Sony Agrees To Stop Putting Unwanted DRM Software on music CD's. We are pleased to report that in working with the Electronic Frontier Foundation ("EFF"), Sony/BMG has agreed to settle a class action over the placement of digital rights management software on it's music CD's by stopping the practice, repalcing the CD's and compensating those who purchased the CD's. The EFF has a help page and resources concerning the settlement. Claim Forms are due by December 31, 2006. If you would like to submit a Claim Form online, please click here. If you have played a CD on your computer that contains either XCP or MediaMax 5.0 content protection software, you shouldupdate or uninstall the software to reduce your risk of security vulnerabilities.

Los Angeles court rules AT&T arbitration clause is not a part of the contract with consumers. The trial on whether the coverage maps of AT&T Wireless (now Cingular) are deceptive has been delayed as defendants now are seeking to compel arbitration after 7 years of litigation.

Bait and Switch Complaint filed against Dell  To view the complaint filed in federal court seeking nationwide class action status for bait and switch tactics click here.

Illegal Advertising of Internet Gambling Suit filed against Search Engines  To view the complaint filed in state court seeking to stop sponsored ads of internet gambling to be displayed by Google, Yahoo and other search engines click here.

Proposals to Revise ND Cal Local Rules. Changes being discussed for handling securities fraud class actions. Click here to view.

Today's Securities Surprises

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