Law Offices of Howard G. Smith announces that a class action lawsuit has been filed in the United States District Court, Southern District of New York, on behalf of purchasers of the common stock of Nevsun Resources Ltd. between March 31, 2011 and February 6, 2012, inclusive, seeking to pursue remedies under the Securities Exchange Act of 1934.
Nevsun mines and explores for gold and base metals, such as copper and zinc. The Complaint alleges that defendants misrepresented or failed to disclose that: (a) Nevsun’s mining activities at the Bisha mine in Eritrea, Africa, produced a material amount of waste rock, rather than gold ore; (b) gold and gold ore from Bisha were materially less than estimated, and defendants knew or had reason to know this, based on data routinely collected from the mine; (c) Nevsun was progressing through the ore body at Bisha more quickly than planned, to maintain production at a rate that would not reveal to investors that the amount of gold was materially less than the Company’s estimate; (d) the Company was aware its resource model was materially defective because actual amounts of gold mined at Bisha did not reconcile with the Company’s previously disseminated estimate; and (e) Nevsun materially overstated its gold reserves at the Bisha mine.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased Nevsun common stock between March 31, 2011 and February 6, 2012, you have certain rights, and have 60 days from March 13, 2012 to move for lead plaintiff status. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice.
www.howardsmithlaw.com
Wednesday, March 21, 2012
Pa. criminal courts all now taking online payments
Pennsylvania criminal courts are all now accepting credit and debit card payments online, with daily collections currently reaching about $140,000.
The Administrative Office of Pennsylvania Courts said Monday that lower-level magisterial district courts had all linked in to the "e-Pay" system as of December. The system was installed for county common pleas courts in 2010.
It allows people to pay court-ordered fines, costs and restitution. There's a transaction fee of $2.75.
The Administrative Office of Pennsylvania Courts said Monday that lower-level magisterial district courts had all linked in to the "e-Pay" system as of December. The system was installed for county common pleas courts in 2010.
It allows people to pay court-ordered fines, costs and restitution. There's a transaction fee of $2.75.
Chinese man gets 13 years for palace art theft
A Beijing court sentenced a Chinese farmer to 13 years in jail on Monday for stealing art pieces from the Forbidden City, the heavily guarded former imperial palace in China's capital.
The official Xinhua News Agency said Shi Baikui, 27, was also fined $2,100 for taking the nine items made of gold and jewels in May 2011. It said six were recovered but three pieces worth an estimated $23,800 remain missing.
The stolen pieces were small Western-style gold purses and mirrored compacts covered with jewels.
Xinhua said Shi told the court the theft was a "spur-of-the-moment" act. The incident sparked public concern about security loopholes in the Forbidden City, also known as the Palace Museum.
Xinhua said officials began a four-year security upgrade in 2009 to equip the museum with advanced security equipment and technology.
Court questions life without parole for juveniles
The Supreme Court is debating whether young teenagers convicted of killing someone may be locked up for life with no chance of parole, the latest in a line of cases seeking a second chance for young people.
The justices are looking at two cases Tuesday involving teenagers serving life sentences. In one, a 14-year-old in Alabama beat a man, then set fire to his home. In the other, a 14-year-old in Arkansas didn't pull the trigger, but was in on an attempted robbery in which another boy shot and killed a store clerk.
Justice Anthony Kennedy wrote earlier opinions ruling out the death penalty for juveniles and life without parole sentences for young people whose crimes did not involve killing. He seemed to be the pivotal justice in Tuesday's arguments.
The justices are looking at two cases Tuesday involving teenagers serving life sentences. In one, a 14-year-old in Alabama beat a man, then set fire to his home. In the other, a 14-year-old in Arkansas didn't pull the trigger, but was in on an attempted robbery in which another boy shot and killed a store clerk.
Justice Anthony Kennedy wrote earlier opinions ruling out the death penalty for juveniles and life without parole sentences for young people whose crimes did not involve killing. He seemed to be the pivotal justice in Tuesday's arguments.
Court says state can't be sued over sick leave
The Supreme Court ruled Tuesday that states cannot be sued under the Family and Medical Leave Act for refusing to give an employee time off to recover from an illness. One justice said the decision "dilutes the force" of the law that allows millions of working Americans time off to take care of sick family members or to have children.
The high court refused to let Daniel Coleman sue the Maryland state Court of Appeals for damages for firing him after he asked for sick leave, blaming Congress for not equating family care and self-care when lawmakers wrote the Family and Medical Leave Act.
Justice Anthony Kennedy, who wrote the controlling opinion, said Congress did not investigate self-care the way it did family care when it passed the FMLA, leaving little "widespread evidence of sex discrimination or sex stereotyping in the administration of sick leave."
"Documented discrimination against women in the general workplace is a persistent unfortunate reality, and we must assume, a still prevalent wrong. An explicit purpose of the Congress in adopting the FMLA was to improve workplace conditions for women. But states may not be subject to suits for damages based on violations of a comprehensive statute unless Congress has identified a specific pattern of constitutional violations by state employers," said Kennedy, who was joined in his opinion by Chief Justice John Roberts and Justices Clarence Thomas and Samuel Alito.
The high court refused to let Daniel Coleman sue the Maryland state Court of Appeals for damages for firing him after he asked for sick leave, blaming Congress for not equating family care and self-care when lawmakers wrote the Family and Medical Leave Act.
Justice Anthony Kennedy, who wrote the controlling opinion, said Congress did not investigate self-care the way it did family care when it passed the FMLA, leaving little "widespread evidence of sex discrimination or sex stereotyping in the administration of sick leave."
"Documented discrimination against women in the general workplace is a persistent unfortunate reality, and we must assume, a still prevalent wrong. An explicit purpose of the Congress in adopting the FMLA was to improve workplace conditions for women. But states may not be subject to suits for damages based on violations of a comprehensive statute unless Congress has identified a specific pattern of constitutional violations by state employers," said Kennedy, who was joined in his opinion by Chief Justice John Roberts and Justices Clarence Thomas and Samuel Alito.
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