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Goldfarb Branham LLP is investigating potential claims against the Board of Directors of NBTY (NYSE: NTY) because of their agreement to sell the company at a potentially unfair price and process. 51 a share as recently as April 15, 2010,?prnewswire.com In fact the stock dropped in late April possibly as a result of allegations of securities fraud, so the premium being paid to NBTY shareholders may not be as high as it initially appeared.? Goldfarb Branham LLP lawyers have excellent experience representing shareholders in buyout cases nationwide.justia.com The firm provides nimble, creative and effective counsel at all stages of litigation.
A global consulting company that rose from the ashes of the destroyed accounting firm Arthur Andersen is now facing a scandal of its own. The problems at Huron Consulting Group Inc may reflect a corporate culture that carried over from Arthur Andersen, the firm that collapsed in connection with the Enron Corp scandal in 2002, legal and corporate governance experts say. Chicago-based Huron was founded by two dozen Andersen partners. The chief financial officer and chief accounting officer are also departing. The company also said it was investigating its allocation of chargeable hours in response to an inquiry by the U.S. Securities and Exchange Commission.businesswire.com Huron did not return calls requesting interviews. Huron shares lost more than two-thirds of their value on Monday.
Attorney Hamilton Lindley of the Kendall Law Group, a Dallas-based law firm, said he expected a class-action complaint to be filed on behalf of shareholders this week.marketwired.com It's natural to look into whether the culture of Arthur Andersen bled over into the culture of Huron Consulting, Lindley said. That's a question we will pursue in our investigation. Huron's audit committee discovered shareholders of four businesses Huron bought redistributed portions of their payments among themselves and to certain Huron employees. Huron said payments were not kickbacks to Huron managers. My reaction is, 'Didn't you learn your lesson once? Toffler, who worked for Andersen for four years in the 1990s and was part of a group that reported to Holdren, the future Huron CEO.
She said Holdren started a Midwest consulting group within Andersen in response to a client's request to create an outside monitor to ensure Drexel Burnham Lambert did not destroy documents while the investment bank was under investigation. Andersen was then viewed as a trusted corporate watchdog. Holdren's litigation services group evolved into a collection of consulting groups, including one focused on business fraud. It was a culture that simply wanted to bring in revenue, regardless of what they had to do to get it, Toffler said. Andersen tried to convert existing audit clients to a host of consulting services with little regard to emerging conflicts of interest, she added.
For example, it tried to both sell internal audit services to clients and pitch Andersen as external auditors. Unfortunately, there probably were practices that became the way you do things at Andersen that simply got transferred -- that Holdren and others transferred, Toffler said, adding she spoke as an expert on Andersen rather than on Huron. For the time I was there working for these folks, no one ever asked me what did you do? They just wanted to know how much did you make on it? Huron had built a reputation as an expert on litigation and regulatory issues. It advised United Airlines on its bankruptcy and helped uncover accounting shortfalls at mortgage giant Fannie Mae, which eventually led the SEC to charge Fannie Mae with fraud.
In 2007, Huron was named among BusinessWeek's hot growth companies and last year was ranked on a Fortune list of 100 fastest-growing U.S. To be sure, the scandal could turn out to be a misunderstanding or a colossal mistake, said David Becher, an associate professor of finance at Drexel University in Philadelphia, and a fellow in the university's corporate governance center. But the fact that senior Huron executives resigned may lead to concerns that executives were trying to manipulate earnings by making it seem like they paid less then they really did for the companies they acquired, he said. They bill themselves as (experts who) help people get through these difficult regulatory environment post-Sarbanes Oxley, said Becher, in reference to the corporate governance and accounting law passed after the Enron scandal. You'd think they would know. The linked collapses of Enron and Andersen convinced regulators more scrutiny of corporate accounting was needed, with added outside controls. But such controls are inadequate, Becher said, if individuals decide to commit fraud. The controls were there, and when they caught it they did the right thing, but time will tell what was going on, Becher said. Why didn't the board know before then? How was it able to go on for three-and-a-half years? Why didn't the auditors catch this?
If you should be in the market to get or develop a company in Hamilton, Ontario please take a moment to consider the changing local economic landscape and what that may mean for you as an investor. This informative article may investigate a few of the unique functions concerning the Hamilton organization market that you need to consider throughout your search. For many decades, professional generation has been the backbone of Hamilton's economy. In lots of ways it still is but their prominence is certainly shifting. In Hamilton nowadays, material and the related ancillary organizations really are a major section of Hamilton's business lifestyle but a brand new realty is emerging.
Hamilton is transforming in to a service-based company economy. In reality, professional production has been surpassed by the health care market as Hamilton's largest employer. If you are buying a current organization available in Hamilton you must think of what that diversified local Hamilton economy can mean to you. Question any Hamiltonian about "downtown" and you will undoubtedly get a enthusiastic response. For several years the matter of Hamilton's downtown revitalization has dominated the local press and several opinions have been formed. The truth is that lots of of Hamilton's organizations have left the downtown core and shifted to the outskirts of the town - as have many residents.
More, the force from big-box retail and a changing workforce implies that the traditional idea of exactly what a'downtown'is allowed to be has been challenged.shirleyandstout.com The Town of Hamilton is doing significantly to stimulate business task in the downtown core. You will find Organization Improvement Parts (BIA) selected with incentives to property homeowners along with hostile residential loan applications made to market the development of residential residing products in the core. If you're pondering buying a opportunity in Hamilton (especially in the downtown area) you'll need to investigate what the main element drivers are for an effective business in Hamilton downtown.
A quick get down John Block North can demonstrate the development of the region into a more vivid art area, with several new options emerging. If you are considering a company in Hamilton and if transport is a vital bit of the business enterprise achievement, you should discover the benefits of having an airport located within the city boundaries. The town of Hamilton is logically located on the shores of Sea Ontario with fairly shut proximately to Toronto, Pond Erie, River Ontario, London, Windsor, River Huron, Niagara Falls, Ontario and beyond. Hamilton has dock services, an airport, track infrastructure and an energetic company community. Many of these substances may indicate that Hamilton might be perfectly poised to re-invent it self as a significant transportation hub for Canadian trade flows. If you're thinking about investing in a business for sale in Hamilton the opportunities here should really be considered. What about a simple small Hamilton organization?
DALLAS--(BUSINESS WIRE)--Goldfarb Branham LLP is investigating Avon Products (NYSE: AVP) for shareholders due to a U.S. Government probe into potential violations of the Foreign Corrupt Practices Act. "Avon disclosed that it had incurred significant fees associated with the company’s internal investigation, focusing on compliance with the FCPA in its Chinese operations," said attorney Hamilton Lindley. "In fact, Avon has suspended the president, chief financial officer and top government affairs executive at its China unit, and a fourth employee who was a senior executive in New York. Goldfarb Branham LLP is investigating a derivative lawsuit against company executives for allowing this scheme to occur. Derivative lawsuits often lead to restored confidence in companies and increased shareholder value. Lawyers at Goldfarb Branham LLP have significant experience litigating derivative cases and other shareholder lawsuits nationwide.
NEW YORK (Reuters) - A global consulting company that rose from the ashes of the destroyed accounting firm Arthur Andersen is now facing a scandal of its own. The problems at Huron Consulting Group Inc (HURN.O) may reflect a corporate culture that carried over from Arthur Andersen, the firm that collapsed in connection with the Enron Corp scandal in 2002, legal and corporate governance experts say. Chicago-based Huron was founded by two dozen Andersen partners. The chief financial officer and chief accounting officer are also departing. The company also said it was investigating its allocation of chargeable hours in response to an inquiry by the U.S. Securities and Exchange Commission.
Huron did not return calls requesting interviews. Huron shares lost more than two-thirds of their value on Monday. Attorney Hamilton Lindley of the Kendall Law Group, a Dallas-based law firm, said he expected a class-action complaint to be filed on behalf of shareholders this week. "It’s natural to look into whether the culture of Arthur Andersen bled over into the culture of Huron Consulting," Lindley said. Huron’s audit committee discovered shareholders of four businesses Huron bought redistributed portions of their payments among themselves and to certain Huron employees. Huron said payments were not "kickbacks" to Huron managers. "My reaction is, ‘Didn’t you learn your lesson once?
’" said Toffler, who worked for Andersen for four years in the 1990s and was part of a group that reported to Holdren, the future Huron CEO. She said Holdren started a Midwest consulting group within Andersen in response to a client’s request to create an outside monitor to ensure Drexel Burnham Lambert did not destroy documents while the investment bank was under investigation. Andersen was then viewed as a trusted corporate watchdog. Holdren’s litigation services group evolved into a collection of consulting groups, including one focused on business fraud. "It was a culture that simply wanted to bring in revenue, regardless of what they had to do to get it," Toffler said. Andersen tried to convert existing audit clients to a host of consulting services with little regard to emerging conflicts of interest, she added.
For example, it tried to both sell internal audit services to clients and pitch Andersen as external auditors. "Unfortunately, there probably were practices that became the way you do things at Andersen that simply got transferred — that Holdren and others transferred," Toffler said, adding she spoke as an expert on Andersen rather than on Huron. "For the time I was there working for these folks, no one ever asked me what did you do? They just wanted to know how much did you make on it? Huron had built a reputation as an expert on litigation and regulatory issues.
It advised United Airlines UAUA.O on its bankruptcy and helped uncover accounting shortfalls at mortgage giant Fannie Mae, FNM.N which eventually led the SEC to charge Fannie Mae with fraud. In 2007, Huron was named among BusinessWeek’s hot growth companies and last year was ranked on a Fortune list of 100 fastest-growing U.S. To be sure, the scandal could turn out to be a misunderstanding or a "colossal mistake," said David Becher, an associate professor of finance at Drexel University in Philadelphia, and a fellow in the university’s corporate governance center. But the fact that senior Huron executives resigned may lead to concerns that executives were trying to manipulate earnings by making it seem like they paid less then they really did for the companies they acquired, he said.
"They bill themselves as (experts who) help people get through these difficult regulatory environment post-Sarbanes Oxley," said Becher, in reference to the corporate governance and accounting law passed after the Enron scandal. The linked collapses of Enron and Andersen convinced regulators more scrutiny of corporate accounting was needed, with added outside controls. But such controls are inadequate, Becher said, if individuals decide to commit fraud. "The controls were there, and when they caught it they did the right thing, but time will tell what was going on," Becher said. "Why didn’t the board know before then? How was it able to go on for three-and-a-half years?
DC Filed 13 September 9 P4:46 Gary Fitzsimmons District Clerk Dallas District CADE MANNETTI, v. Plaintiff, VISIONARY RESTAURANTS LLC, VISIONARY STAFFING LLC, WILLIAM McCROREY, AND THOMAS McMURRAY, Defendants. 2 III. PARTIES 4. Plaintiff Cade Mannetti is an individual residing in Texas. 5. Defendant Visionary Restaurants, LLC is a Texas Limited Liability Company with its principal place of business located at 9699 Central Expressway, Ste. 290, Dallas, Texas. It may be served through its registered agent, Thomas M. McMurray at 109 S. Woodrow Lane, Ste. 700, Denton, TX Defendant Visionary Staffing, LLC is a Texas Limited Liability Company with its principal place of business located at 9699 Central Expressway, Ste.
290, Dallas, Texas. It may be served through its registered agent, Thomas M. McMurray at 109 S. Woodrow Lane, Ste. 700, Denton, TX Defendant William McCrorey is an individual residing at 9520 Hathaway Dallas, TX Defendant Thomas McMurray is an individual residing in Denton County, Texas with a principal place of business at 109 S. Woodrow Lane, Ste. 3 IV. JURISDICTION AND VENUE 10. This Court has subject matter jurisdiction over this lawsuit because the amount in controversy is within the jurisdictional limits of this Court. 11. Pursuant to Chapter 15 of the TEX. CIV. PRAC. AND REM. 104,000 per year. Plaintiff began employment on September 12, 2012 and satisfied all conditions precedent pursuant to the Agreement. On April 20, 2013, Plaintiff resigned due to Defendants breach of their Agreement and Defendants other wrongful business practices.
4 by the healthcare insurance company that the Defendants failed to pay the premiums and that the Plaintiff was therefore liable for the full amount of the medical bills. Defendants have also failed to pay salaried compensation to Plaintiff. 14. Defendant McCrorey and Defendant McMurray both admitted that the debts were owed by them to Plaintiff Mannetti and promised him that they would pay the health insurance and his unpaid salary. Defendants have failed to pay the health insurance premiums or the salary. Defendants McCrorey and Defendant McMurray have used the money owed to Plaintiff to form several business entities. 15. Plaintiff made repeated attempts to collect the amounts owed by Defendants. Defendants have acknowledged the debt owed, but failed to make any payments to Plaintiff.
16. On July 17, 2013, a criminal complaint was filed against the Plaintiff for signing three corporate checks at Defendant McCrorey and McMurray s direction to Sigel s Liquor for the benefit of the Defendants, including Rare Operations LLC. Instead of paying the debts that are clearly owed by the Defendants, Defendant McMurray has used the criminal prosecution of the Plaintiff as a bargaining chip to gain advantage in this litigation. 17. Not content with wrecking Plaintiff s past financial stability, Defendants have used the Mannetti s criminal prosecution for their conduct as a tool to irreparably scar Mannetti s future employment. 5 VI. CLAIMS AND CAUSES OF ACTION A. BREACH OF CONTRACT 18. Paragraphs 1-15 above are hereby adopted and incorporated by reference. The Agreement, entered into between Defendants and Plaintiff, is a valid and enforceable contract.
Plaintiff fully performed under the terms of the Agreement, and Defendants have refused and continues to refuse to perform pursuant to the terms of the Agreement. 42, Plaintiff has met all conditions precedent under the Agreement. 20. Pursuant to Chapter (8) of the TEX. CIV. PRAC. & REM. CODE, Plaintiff seeks and is entitled to all reasonable attorneys fees incurred in pursuit of Plaintiff s claims. B. QUANTUM MERUIT 21. Paragraphs 1-20 above are hereby adopted and incorporated by reference. Plaintiff and Defendants were parties to the Agreement. Plaintiff provided valuable services to Defendants. The services were provided for the benefit of Defendants, and Defendants accepted the services when it agreed to hire Plaintiff.
Defendants had reasonable notice that Plaintiff expected compensation for his services, and by entering into the Agreement, Defendant agreed to pay Plaintiff for the services provided. Defendants have received value for the services Plaintiff provided and should not be unjustly enriched by breaching the Agreement and refusing to pay for the services rendered. C. PROMISSORY ESTOPPEL 22. Paragraphs 1-20 above are hereby adopted and incorporated by reference. By entering into the Agreement, Defendant promised to pay Plaintiff. 6 Plaintiff expended considerable time and expense as an employee of the Defendants. To Plaintiff s detriment, Plaintiff has not been compensated for services rendered pursuant to the Agreement. Plaintiff s reliance on Defendants promises was or should have been foreseeable to Defendant.
The only means of correcting the injustice to Plaintiff is by Defendant fulfilling their promise of payment. D. NEGLIGENT MISREPRESENTATION 23. Paragraphs 1-22 are hereby incorporated by reference. In the course of Defendants business and in transactions involving their own pecuniary interest, Defendants made representations to Plaintiff that Defendants would pay Plaintiff s salary and health insurance. Defendants had an interest in Plaintiff continuing to work for Defendants benefit. Defendants took money from Plaintiff for his health insurance for their own benefit. 7 27. Plaintiff has been injured by Defendants as a result of being deprived of his money and health insurance, and being subject to criminal prosecution for Defendants conduct.
28. Plaintiff has no adequate remedy at law to compensate him for the damages caused by Defendants actions and misconduct. 29. Accordingly, Plaintiff is entitled to the imposition of a constructive trust over the money and assets in the possession of the Defendants (or their agents, employees, partners and affiliates). F. DECLARATORY JUDGMENT 30. Plaintiff incorporates by reference the above paragraphs 1-29, as if fully set forth herein. 31. Plaintiff requests that the Court declare the parties rights regarding: i. Plaintiff Mannetti is not liable for the Defendants debts to Sigel s Liquor. Plaintiff Mannetti was not Chief Financial Officer of Defendants companies. Plaintiff Mannetti was not in charge of the Defendants bank accounts. Defendants McMurray and McCrorey are personally liable to Plaintiff for the wrongdoing described in this petition. 32. A controversy exists between Plaintiffs and some or all Defendants regarding whether the notes and board resolutions are void. Adjudication of these disputes by this Court would resolve the controversies between the parties. 8 as allowed by law, attorneys fees, pre and post-judgment interest to the maximum extent allowed by law, costs and all other relief to which Plaintiff is entitled.
The Methodist Cemetery was established in 1847 and is located on the east side of Old Austell Road approximately one mile from historic downtown Powder Springs. It is sometimes referred to as the "old cemetery" and often confused with the neighboring cemeteries across the street - Powder Springs City Cemetery and the Powder Springs Memorial Gardens Cemetery. The earliest marked burial is dated 1847 and is that of Samuel Cobb Scott born 1776. Samuel was a Captain in the war of 1812 from Abbeville, S.C. He and his wife Jane (who died 1866) are buried at the rear of the cemetery near the wood line that separates the cemetery from the shopping center. Their graves are sunken and marked with field stones.
There are also some unmarked graves. The first Methodist Church was a log cabin that was located on the south side of the present cemetery. The land was owned by Elisha Lindley (1816-1876) and Jane Scott Lindley (1813-1885), who were Charter members of the Methodist Church. They gave this land for both the "Church Building" and the "Methodist Cemetery". The Church was officially organized in 1844 and a frame building was constructed on the lot where the present church sets. This land was given by Johnathan Lindley, Jr. (1808-1868), also a charter member. In the Methodist Cemetery are buried a number of the early families of Powder Springs.
These are Baggett’s, Butner’s, Camp’s, DuPre(e)’s, Florence’s, Furr’s, Lindley’s, Landrum’s, Miller’s, Murray’s, McEachern’s, Nestlehutt’s, Ragsdale’s, Rice’s, and Stovall’s. These included merchants of various trades, businessmen, farmers, mayors, and doctors. There are graves at the very back of the cemetery in the woods that are said to be those of slaves. At one time they were marked with field stones. Mayor’s of Powder Springs: W. W. Scott (1845-1930); J. H. Lewis (1876- 1946): Frank Furr (1922-1955); Robert Hubert Lindley (1888-1965) and Harry Miller (1896-1975). These are just a few of the Mayors who may be buried in this cemetery. George David Miller (1867-1955) was one of the first rural male carriers for Powder Springs in the early 1900’s and a City Councilman.
The buggy he used to deliver the mail is on display at the Seven Springs Museum. Harry Miller (1896-1975) delivered mail from 1918-1928 who’s route included delivering to the A & M School in Macland (McEachern Schools). Ezma D. Lindley (1879-1950) was Postmaster 1923-1928. Roberta Murray (1888- 1972) was a Postmistress 1915-1922 and known as the first historian of Powder Springs. T. N. (Thomas Newell Lindley) (1858-1937) became Undertaker and owner of the funeral home in 1899 when Uriah Matthews sold the business to him. Mr. Lindley had a store and bookstore with a casket room on the back of this business in downtown.
At his death, his grandson Pick Lindley took over the funeral home business. Seaborn Epperson (S.E.) Smith (1871-1940) was the depot agent for the Southern Railway Depot. In 1923 he was also the President of the Bank of Powder Springs. He has a "Woodman of the World" marker. John L. Calloway (1865-1888) and Lindley Murray (1869-1889) both worked for the East Tennessee, Virginia, and Georgia Railroad. Both men were crushed between railway cars in accidents and killed. John A. Lewis (1853-1926) owned one of the cotton gins in town and built the two story brick building downtown around 1900, that is referred to as The Lewis Building.