Archive for August, 2014

Investigating Fabrinet

Fabrinet Investor Alert – National Securities Law Firm Encourages Shareholders With Losses In Excess Of $100,000 To Contact Law Firm

August 19, 2014
New York, New York

Shares of Fabrinet (“Fabrinet” or the “Company”) (FN) have plunged precipitously on news that the Company has initiated an investigation of its internal and accounting controls. The Company stated that it uncovered issues with its accounting during the fourth quarter of its fiscal year, which ended on June 27, 2014. In addition to the accounting irregularities, the Company is investigating potential deficiencies regarding its disclosure controls and the procedures and internal controls related to its financial reporting. The United States Securities and Exchange Commission has been alerted to the potential fraud at the Company. As a result of its accounting problems, the Company postponed its fourth quarter and fiscal year 2014 financial results, and canceled its quarterly conference call.

Following the announcement of the Company’s accounting irregularities, the trading price of the Company’s stock price dropped over 18%, falling $3.22 per share to a close of $14.53 on August 18.

Our investigation of the Company and certain of its officers and directors seeks to determine how widespread any potential accounting violations extend and whether any insiders at the Company personally profited by the alleged accounting improprieties. The investigation also includes an analysis of how the rights of purchasers of Fabrinet’s recent secondary offering of 3.15 million shares, priced at $18.70 and conducted in May and June of 2014, may be affected by the accounting issues and resulting drop in shareholder value.

If you purchased Fabrinet securities and have suffered losses in excess of $100,000 and have questions about your legal rights, please contact us toll free at 1-800-511-7037 or contact us via our website.

Tripp Levy PLLC represents individual and institutional shareholders and, along with its affiliates, has recovered billions of dollars for shareholders in similar actions around the globe. Tripp Levy PLLC is affiliated with the law firm Milberg LLP. Attorney advertising. Prior results do not indicate a similar outcome.

Investigating Skilled Healthcare Group, Inc.

Skilled Healthcare Alert: Buyout Of Skilled Healthcare Group- National Securities Law Firm Seeks Higher Price For Shareholders

August 19, 2014
New York, New York

Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it is investigating whether the board members of Skilled Healthcare Group, Inc. (NYSE: SKH) (“Skilled Healthcare” or the “Company”) breached their fiduciary duties in connection with the proposed merger of the Company with Genesis HealthCare.

On August 18, 2014, Skilled Healthcare announced it had signed a definitive agreement to combine with Genesis HealthCare. Under the terms of the merger agreement, Skilled Healthcare shareholders will collectively own 25.75% of the vote and value of the fully-diluted equity of the combined Company. Genesis HealthCare shareholders will own the other 74.25%. The combined Company will operate under the Genesis HealthCare name and will be traded on the NYSE.

The investigation concerns whether the Board of Skilled Healthcare breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Genesis Healthcare is underpaying for Skilled Healthcare shares. Shareholders representing approximately 82.1% of Skilled Healthcare’s voting power have already agreed to the transaction. The investigation also concerns whether there were any conflicts of interest on the part of the senior management and board of Skilled Healthcare in agreeing to merge the company and whether they acted for their own self-interests and not for the benefit of shareholders. Indeed, Robert Fish, Skilled Healthcare’s CEO, was formerly the CEO of Genesis.

If you own shares of Skilled Healthcare and have questions about your legal rights, please contact us toll free at 1-800-511-7037 or contact us via our website.

Tripp Levy PLLC represents individual and institutional shareholders and, along with its affiliates, has recovered billions of dollars for shareholders in similar actions around the globe. Tripp Levy PLLC is affiliated with the law firm Milberg LLP. Attorney advertising. Prior results do not indicate a similar outcome.

Class action has been filed against Ocwen Financial Corporation

Ocwen Shareholder Alert: National Securities Law Firm Encourages Shareholders With Losses In Excess Of $100,000 To Contact Law Firm Before The Lead Plaintiff Deadline

August 15, 2014
New York, New York

Tripp Levy PLLC, a leading national securities law firm, announces that a class action has been filed against Ocwen Financial Corporation (NYSE: OCN) on behalf of purchasers of the Company’s common stock between May 2, 2013 and August 11, 2014, inclusive. The lawsuit seeks to recover damages for Ocwen shareholders under the federal securities laws.

The lawsuit alleges that Ocwen misstated and/or failed to disclose: (a) Ocwen’s mortgage servicing practices were unlawful; (b) Ocwen’s Chairman engaged in self-dealing that unjustly enriched himself; and (c) as a result Ocwen’s public statements to investors were materially false and misleading. When this adverse information entered the market, the price of Ocwen’s stock dropped, damaging investors.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 14, 2014. If you wish to join the litigation or to discuss your rights or interests regarding this class action, please contact us at no cost toll free at 1-800-511-7037 or contact us via our website.

Tripp Levy PLLC represents individual and institutional shareholders and, along with its affiliates, has recovered billions of dollars for shareholders in similar actions around the globe. Tripp Levy PLLC is affiliated with the law firm Milberg LLP. Attorney advertising. Prior results do not indicate a similar outcome.

Investigating Genworth Financial Inc.

Genworth Investor Alert: National Securities Law Firm Investigates Potential Claims on Behalf of Genworth Financial Inc. Shareholders

August 8, 2014
New York, New York

Tripp Levy PLLC, a leading national securities law firm, is investigating potential claims on behalf of investors who purchased shares of Genworth Financial Inc. common stock (NYSE: GNW) (“Genworth”) during the period between October 29, 2013 and July 29, 2014 (“Class Period”) concerning possible violations of federal securities laws.

On December 4, 2013, the Company’s Chief Executive Officer, Thomas McInerney represented that Genworth had “adequate long-term care reserves” as it has “refined and improved our reserving, underwriting and risk management processes based on analyzing and using our significant data on consumers underwriting and claims.”

Contradicting its past representations, on July 29, 2014, Genworth disclosed that it was currently “conducting a comprehensive review of the adequacy of its claims reserves” related to its Long Term Care Insurance division. On July 31, 2014, the Company disclosed that “the last in-depth review of the claims reserve” was conducted in 2012.

On this news, Genworth common stock declined $2.28 per share or more than 14%, to close at $13.98 per share on July 30, 2014.

If you are a shareholder of Genworth and purchased your shares during the Class Period and suffered a loss on your investment, and would like additional information, please contact us toll free at 1-800-511-7037 or contact us via our website.

Tripp Levy PLLC represents individual and institutional shareholders and, along with its affiliates, has recovered billions of dollars for shareholders in similar actions around the globe. Tripp Levy PLLC is affiliated with the law firm Milberg LLP. Attorney advertising. Prior results do not indicate a similar outcome.

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