Archive for July, 2014

Investigating Penn West Petroleum Ltd.

Penn West Petroleum Investor Alert- National Securities Law Firm Encourages Shareholders With Losses In Excess Of $100,000 To Contact Law Firm

July 31, 2014
New York, New York

Tripp Levy PLLC, a leading national securities law firm, announces that it is investigating potential securities fraud claims against Penn West Petroleum Ltd. (NYSE: PWE) (“Penn West” or the “Company”) arising out of Penn West’s recent admission that its financial statements were not accurate.

On July 29, 2014, Penn West Petroleum announced that its Audit Committee is conducting an internal review of certain of the Company’s accounting practices and its decision to restate certain historical financial statements. Currently, the review covers 2014 and the four previous fiscal years. Based on its accounting review thus far, the Company decided to restate the Company’s audited annual financial statements for at least the two years ended December 31, 2012 and 2013 and its unaudited interim financial statements for the three months ended March 31, 2014 and 2013 and all related management discussion and analyses.

On this news, the price of Penn West Petroleum shares fell sharply on July 30, 2014, falling $1.29 per share or over 14%, damaging investors.

If you purchased shares of Penn West and suffered losses in excess of $100,000 on your investment, and wish to discuss this matter at no cost or expense, please contact us toll free at 1-800-511-7037 or contact us via our website.

Tripp Levy PLLC is a leading national securities and shareholder rights law firm with offices across the country representing both individual and institutional shareholders and, along with its affiliates, has recovered billions of dollars for shareholders. Tripp Levy PLLC is affiliated with Milberg LLP. Attorney advertising. Prior results do not indicate a similar outcome

Investigating Acquisition of GFI Group Inc.

Tripp Levy PLLC investigating the acquisition of GFI Group Inc. on behalf of its shareholders

July 31, 2014
New York, New York

Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it is investigating the acquisition of GFI Group Inc. (GFIG) on behalf of its shareholders. On July 30, 2014, CME Group Inc. and GFI announced that they had entered into an agreement under which CME will acquire all of the shares of GFI for $4.55 per share, payable in CME common stock.

Immediately following CME’s acquisition of GFI, a private consortium of GFI management, led by current Executive Chairman Michael Gooch, CEO Colin Heffron and Managing Director Nick Brown, will acquire GFI’s wholesale brokerage and clearing businesses, including the Kyte Group, back from CME for $165 million in cash and the assumption, at closing, of approximately $63 million of unvested deferred compensation and other liabilities.

The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors and senior management of GFI for not acting in GFI shareholders’ best interests in connection with the sale process of GFI. The investigation seeks to determine if there was an adequate auction process and if CME is underpaying for GFI shares. Indeed, analysts have projected that the true going forward inherent value of GFI is worth at least $5 per share. In addition, the investigation seeks to determine if there were any conflicts of interest on the part of the senior management of GFI in negotiating the deal on behalf of shareholders.

If you are a shareholder of GFI and would like additional information regarding this matter at no cost or expense please contact us toll free at 1-800-511-7037 or contact us via our website.

Investigating Acquisition of Trulia, Inc.

Tripp Levy PLLC investigating the acquisition of Trulia, Inc. on behalf of its shareholders

July 28, 2014
New York, New York

Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it is investigating the acquisition of Trulia, Inc. (TRLA) on behalf of its shareholders. It was announced that Zillow, Inc. and Trulia have entered into a definitive merger agreement whereby Trulia will be acquired in a stock for stock transaction. Trulia shareholders will receive 0.444 shares of Class A common stock of Zillow for each share of Trulia, and will own approximately 33% of the combined company.

The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors and senior management of Trulia for not acting in Trulia shareholders’ best interests in connection with the sale process of Trulia. The investigation seeks to determine if there was an adequate auction process and if Zillow is underpaying for Trulia shares. In addition, the investigation seeks to determine if there were any conflicts of interest on the part of the senior management of Trulia in negotiating the deal on behalf of shareholders.

If you are a shareholder of Trulia and would like additional information regarding this matter at no cost or expense please contact us toll free at 1-800-511-7037 or contact us via our website.

Tripp Levy PLLC and its affiliates have recovered billions of dollars for shareholders in securities actions across the nation. Attorney advertising. Prior results do not indicate a similar outcome.

Investigating Acquisition of Family Dollar Stores, Inc.

Tripp Levy PLLC investigating the acquisition of Family Dollar Stores, Inc. on behalf of its shareholders

July 28, 2014
New York, New York

Tripp Levy PLLC, a leading national securities and shareholder rights law firm, has announced that it is investigating the acquisition of Family Dollar Stores, Inc. (FDO) (“Family Dollar” or the “Company”) on behalf of shareholders. Dollar Tree, Inc. and Family Dollar announced that they have entered into a definitive merger agreement under which Dollar Tree will acquire Family Dollar in a cash and stock transaction. Family Dollar shareholders will receive $59.60 in cash and $14.90 equivalent in Dollar Tree shares for a total value consideration of $74.50 per share. Family Tree shareholders will own anywhere from 12.7% to 15.1% of the outstanding stock of Dollar Tree.

The investigation concerns whether the senior management and board of directors of Family Dollar engaged in a full and fair auction and process to insure that shareholders received the maximum value for their shares, whether the implied price of $74.50 is unfairly low, and whether the management of Family Dollar received any benefits for their own self interests that are not also being shared with other shareholders of Family Dollar, including Chairman and CEO Howard Levine who agreed to vote his shares in favor of the transaction. Indeed, analysts have projected that the true going forward inherent value of Family Dollar is worth at least $79 per share and the stock hit a high this past year of $75.29 per share.

If you are a shareholder of Family Dollar and would like additional information regarding this matter at no cost or expense please contact us toll free at 1-800-511-7037 or contact us via our website.

Tripp Levy PLLC and its affiliates have recovered billions of dollars for shareholders in securities actions across the nation. Attorney advertising. Prior results do not indicate a similar outcome.

Class Action Lawsuit – Prosensa Holding N.V.

Tripp Levy PLLC announces that a class action lawsuit has been filed on behalf of shareholders of Prosensa Holding N.V.

July 21, 2014
New York, New York

Tripp Levy PLLC, a leading national securities law firm, announces that a class action lawsuit has been filed on behalf of shareholders of Prosensa Holding N.V. (“Prosensa” or the “Company”) (NASDAQ: RNA) in the United States District Court for the Southern District of New York on behalf of a class (the “Class”) comprising all persons and/or entities who purchased or otherwise acquired the ordinary shares of Prosensa pursuant and/or traceable to the Registration Statement and Prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s initial public offering (“IPO”) on or about June 28, 2013.

If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact us toll free at 1-800-511-7037 or contact us via our website. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

Prosensa is a biotechnology company engaged in the discovery and development of RNA-modulating therapeutics for the treatment of genetic disorders. The Company’s first and lead product candidate was drisapersen, which Prosensa was developing in collaboration with GlaxoSmithKline to address a variety of mutations resulting in inadequate production of dystrophin − a protein necessary for muscle function. The Complaint alleges that the Registration Statement contained materially false and/or misleading statements and/or omitted material information concerning the development status of drisapersen, the drug’s Phase II and Phase III clinical studies, and the prospects for drisapersen’s regulatory approval.

On September 20, 2013, less than three months after the IPO, the Company issued a joint press release with GlaxoSmithKline, disclosing that drisapersen had not met the primary endpoint in the Phase III study. According to the press release, “[t]here was no treatment difference in key secondary assessments of motor function: 10-meter walk/run test, 4-stair climb and North Star Ambulatory Assessment.”

As a result of this news, Prosensa stock declined approximately 70 percent, or $16.86 per share, on unusually heavy trading volume, to close on September 20, 2013 at $7.14 per share.

Plaintiff seeks to recover damages on behalf of all purchasers of Prosensa publicly traded securities issued in connection with the Company’s initial public offering (“IPO”) on or about June 28, 2013. Tripp Levy PLLC is a leading national securities and shareholder rights law firm with offices across the country representing both individual and institutional shareholders and, along with its affiliates, has recovered billions of dollars for shareholders. Tripp Levy PLLC is affiliated with Milberg LLP.

Attorney advertising. Prior results do not indicate a similar outcome

^