| TouchPlay to cost state $1.6 million
The Iowa Legislature's decision to ban TouchPlay gambling machines from convenience stores and other locations is going to cost Iowans more than $1.6 million.
The Iowa attorney general's office announced Monday an out-of-court settlement with Royal Financial LLC, a company organized by Kum & Go convenience store chain founder William Krause. Royal Financial owned more than 1,700 of the slot machine-like games.
"We didn't really have a good exit strategy," Rep. Cindy Winckler, a Democrat from Davenport, acknowledged after the settlement was announced. "We didn't give them good notice and we didn't in any way take into consideration the investment they had made in good faith."
Three other lawsuits over the state's ban of the TouchPlay machines are pending.
Cohen, Milstein, Hausfeld & Toll, P.L.L.C. Announces Class Action Lawsuit Against American Home Mortgage Investment ...
The law firm Cohen, Milstein, Hausfeld & Toll, P.L.L.C. has filed a lawsuit in the United States District Court for the Eastern District of New York on behalf of its client and on behalf of other similarly situated purchasers of American Home Mortgage Investment Corporation ("American Home Mortgage or the "Company) (NYSE:AHM) common stock between April 26, 2006 through and including July 30, 2007 (the "Class Period). The complaint charges American Home Mortgage and certain of its officers and directors with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act). It is alleged that defendants omitted or misrepresented material adverse facts about the Companys financial condition, business prospects, and revenue expectations during the Class Period. American Home Mortgage is a real estate investment trust (REIT), which engages in the investment and origination of residential mortgage loans in the United States.
Are Kuhn's finances shaky? Stay tuned
Developer Cameron Kuhn is in the middle of a flurry of lawsuits. He's laid off employees and sold his helicopter.
Is Kuhn, known as an ambitious risk-taker who has successfully remade portions of downtown, in financial trouble?
One of his attorneys and investment partners dismisses the suggestion.
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Investools Settles Lawsuit
Online brokerage and investor education service provider Investools Inc. said Monday it has settled a lawsuit brought by Jana Partners LLC. The settlement provides for in-kind services instead of cash. The settlement was reflected in the company's second-quarter financial statements. Jana filed a lawsuit against Investools in June attempting to receive money for providing financing in connection with Investools' merger with thinkorswim Inc. Investools claimed Jana violated the terms of the financing and dropped the company as a partner. .
Landry’s finally releases 2006 annual report
After a long and costly delay, Landrys Restaurants Inc. on Friday released its 2006 annual report, posting a $21.8 million loss related mostly to the sale of its Joes Crab Shack chain.The report, which comes almost seven months after the companys fiscal year ended Dec. 31, sheds some light on what triggered a chain of events that has Landrys, in the words of its chief financial officer, facing irreparable harm. The 10-K report says a shareholder lawsuit caused the company to undertake a review of its stock-option practices. The review found no fraud and prompted no action from the Securities and Exchange Commission. But it cascaded into a $400 million dollar debt problem, causing agencies to lower Landrys credit rating, bruising the companys stock price earlier this month and leading to a temporary restraining order against bondholders that will come to head Thursday in an island courtroom.Landrys reported a net loss of $21.8 million, or 99 cents per diluted share last year, compared with net income of $44.8 million, or $1.95 per diluted share in 2005.
Shareholder Class Action Filed Against RAIT Financial Trust By The Law Firm of Schiffrin Barroway Topaz & Kessler, LLP
The following statement was issued today by the law firm of Schiffrin Barroway Topaz & Kessler, LLP: Notice is hereby given that a class action lawsuit was filed in the United States District Court for the Eastern District of Pennsylvania on behalf of all common stock purchasers of RAIT Financial Trust (NYSE: RAS - News; "RAIT" or the "Company") from January 10, 2007 to July 31, 2007, inclusive (the "Class Period"). .
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