Accomplishments
In re Textainer Financial Servs. Corp., No. CGC 05-440303. The Rosen Law Firm was
Co-Lead Counsel in this class action in the California Superior Court, San Francisco County
alleging breach of fiduciary duty in connection with the sale of the assets of six related publicly
traded limited partnerships. After winning the first phase of a multi-phase bench trial, Plaintiffs
obtained a $10 million cash settlement for class members.
Friedman v. Quest Energy Partners LP, et al., Case No. CIV-08-936-M. The Rosen Law
Firm was sole Lead Counsel on behalf of purchasers of Quest Resource Corporation’s securities
in this consolidated class action filed in the U.S. District Court for the Western District of
Oklahoma. The complaint alleged violations of §§10b and 20(a) of the Securities Exchange Act
arising out of the Company’s issuance of materially false and misleading statements in
connection with the Company’s former CEO and CFO misappropriating nearly $10 million. All
classes and parties to this litigation settled this action for $10.1 million in cash.
In re Nature’s Sunshine Products, Inc. Securities Litigation, Case No. 2:06-cv-00267-TSSA.
The Rosen Law Firm was sole Lead Class Counsel in this class action in the U.S. District
Court for the District of Utah. The complaint alleged violations of §§ 10b and 20(a) of the
Securities Exchange Act arising out of the Company’s materially false and misleading statements
concerning its financial statements and business practices. Following the certification of the
class and extensive discovery, Plaintiffs agreed to settle this case for $6 million in cash.
In re Entropin, Inc. Securities Litigation, Case No. CV 04-6180-RC. The Rosen Law
Firm was counsel to Plaintiff in this securities class action in the United States District Court for
the Central District of California, and Lead Counsel in the related class action brought in
California state court against Entropin, Inc., a defunct pharmaceutical company. These actions
alleged violations of §§ 10b and 20(a) of the Securities Exchange Act and violations various
state securities laws arising out of allegedly false and misleading statements about the
Company’s lead drug candidate Esterom, respectively. On the eve of trial, Defendants agreed to
settle these cases for a $4.5 million cash payment to class members.
In re StockerYale, Inc. Securities Litigation, Case No. 1:05-cv-00177. The Rosen Law
Firm served as sole Lead Counsel in this consolidated class action in the U.S. District Court for
the District of New Hampshire. The complaint alleged violations of §§ 10b, 20(a) and 20A of
the Securities Exchange Act arising out of the issuance of allegedly false and misleading press
releases regarding certain contracts the Company claimed to have signed. Plaintiffs settled this
class action for $3.4 million cash payment to class members.
Mallozzi v. Industrial Enterprises of America, Inc., Case No. 07-CV-10321 (GBD). The
Rosen Law Firm was Co-Lead Counsel in this class action in the U.S. District Court for the
Southern District of New York. The complaint alleged violations of §§ 10b and 20(a) of the
Securities Exchange Act arising out of the Company’s issuance of materially false and
misleading statements of revenues and earnings. During the pendency of the Company’s
bankruptcy, the parties settled this class action for $3.4 million in cash.
Meruelo Capital Partners 2, LLC et al. v. Wedbush Morgan Securities, Inc., Case no. BC
352498. The Rosen Law Firm was co-counsel to plaintiffs in this action brought in California
Superior Court, Los Angeles County for violations of the California State securities laws against
the securities issuer and broker-dealer in connection with the sale of $2.5 million worth of
securities. On the eve of trial, plaintiffs settled the claims against the issuer for a cash payment
of $1 million. Following an eight day jury trial, Plaintiffs obtained a jury verdict in their favor
and against the underwriter for over $2.2 million (which included prejudgment interest). In sum,
plaintiffs recovered over $3.2 million, which represented 100% of plaintiffs’ principal
investment of $2.5 million and over $700,000 in prejudgment interest.
In re Skilled Healthcare Group, Inc. Securities Litigation, Case No. 2:09-CV-5416-DOC
(RZx). The Rosen Law Firm was Co-Lead Counsel in this class action in the U.S. District Court
for the Central District of California. The complaint alleged violations of the §§ 11, 12(a)(2),
and 15 of the Securities Act of 1933 and §§10b and 20(a) of the Securities Exchange Act arising
out of the Company’s issuance of materially false and misleading statements of revenue and
earnings. Plaintiffs settled this action for $3 million in cash.
Madden v. Pegasus Communications Corp, Case No. 2:05-cv-0568. The Rosen Law
Firm was sole Lead Counsel in this class action in the U.S. District Court for the Eastern District
of Pennsylvania. The action alleged violations of §§ 10b and 20(a) of the Securities Exchange
Act arising out of the issuance of allegedly false and misleading statements concerning the
Company’s direct broadcast satellite agreement with DirecTV and the Company’s reported
subscriber growth and totals. Plaintiffs settled this action for a $2.95 million cash payment to
class members.
In re TVIA, Inc. Securities Litigation, Case No. C-06-06403-RMW. The Rosen Law
Firm was sole Lead Counsel in this consolidated class action in the U.S. District Court for the
Northern District of California. The complaint alleged violations of §§ 10b, 20(a), 20A of the
Securities Exchange Act arising out of the Company’s issuance of materially false and
misleading financial statements by virtue of the Company improper recognition of revenues in
violation of GAAP. Plaintiffs settled this action for a $2.85 million cash payment to class
members.
Zagami v. Natural Health Trends Corp., et al., Case No. 3:06-CV-1654-D. The Rosen
Law Firm served as sole Lead Counsel in this class action in the U.S. District Court for the
Northern District of Texas. The complaint alleged violations of § 10b and 20(a) of the Securities
Exchange Act arising out of the Company’s issuance of materially false and misleading financial
statements in violation of GAAP. Plaintiffs settled this case for $2.75 million cash payment to
class members.
In re Robert T. Harvey Securities Litigation, Case No. SA CV-04-0876 DOC (PJWx).
The Rosen Law Firm served as Co-Lead Counsel in this class action in the U.S. District Court
for the Central District of California and the related California state court class actions. This
action alleged violations of §§ 10b and 20(a) of the Securities Exchange Act arising out of the
sale of partnership interests that corresponded to the securities of Chaparral Network Storage and
AirPrime, Inc., n/.k/a Sierra Wireless, Inc. Plaintiffs settled this and the related state court
actions for an aggregate $2.485 million cash payment to class members.
In re Fuwei Films Securities Litigation, Case no. 07-CV-9416 (RJS). The Rosen Law
Firm was sole Lead Counsel in this consolidated class action in the U.S. District Court for the
Southern District of New York. The complaint alleged violations of §§ 11, 12(a)(2), and 15 of
the Securities Act of 1933 in connection with material misrepresentations in the Company’s
Registration Statement and Prospectus in connection with the Company’s $35 million IPO. The
parties settled this action for $2.15 million cash payment to class members.
Burritt v. Nutracea, Inc., Case No.CV-09-00406-PHX-FJM. The Rosen Law Firm was
sole Lead Counsel in this consolidated class action in the U.S. District Court for the District of
Arizona. This action alleged violations of §§ 10b and 20(a) of the Securities Exchange Act of
1934 and the Arizona securities laws in connection with the Company’s issuance of materially
false and misleading statements of earnings and revenues. During the pendency of the
Company’s bankruptcy, Plaintiffs settled this action for $1.5 million in cash and a remainder
interest of 50% of the issuer’s directors’ and officers’ liability insurance policy.
Press v. Delstaff LLC, No. MSC 09-01051. The Rosen Law Firm was sole Lead Counsel
in this class action in the California Superior Court for Contra Costa County, brought in
connection with a “going private” transaction valued at $1.25/share for the 6.4 million shares
implicated in the transaction. The parties settled this action for $1,642,500 in additional
compensation to shareholders.
In re Northfield Laboratories, Inc. Securities Litigation, Case No. 06 C 1493. The Rosen
Law Firm is currently serving as sole Lead Counsel in this consolidated class action pending the
U.S. District Court for the Northern District of Illinois. The complaint alleges violations of §§
10b and 20(a) of the Securities Exchange Act arising out of the Company’s materially false and
misleading statements concerning its PolyHeme blood substitute product and business prospects.
Following extensive class discovery and litigation activity in bankruptcy court, the parties agreed
to settle this action for $1.5 million in cash, pending court approval.
In re PartsBase.com, Inc. Securities Litigation, Case No. 01-8319. The Rosen Law Firm
was Co-Lead Counsel in this class action in the U.S. District Court for the Southern District of
Florida. The action arose from a $45.5 million initial public offering of common stock by the
defendant issuer and a syndicate of underwriters including Roth Capital Partners and PMG
Capital Corp. Plaintiffs settled this action for $1.5 million cash settlement for class members.
In re Empyrean Bioscience Securities Litigation, Case No. 1:02CV1439. This class
action in which the Rosen Law Firm was sole Lead Counsel was filed in the U.S. District Court
for the Northern District of Ohio. The action alleged violations of §§10b and 20(a) of the
Securities Exchange Act based on misrepresentations in defendants’ SEC filings and press
releases concerning the clinical testing of the Company’s GEDA Plus microbicide gel. After the
court denied defendants’ motion to dismiss the complaint, the parties briefed the issue of whether
the securities were traded in an efficient market. Prior to a decision on market efficiency,
Plaintiffs settled the case for a $1.4 million payment to class members.
In re Himax Technologies, Inc. Securities Litigation, Case No. C 07-4891-DDP. The
Rosen Law Firm served as Co-Lead Counsel in this consolidated class action in the U.S. District
Court for the Central District of California, Western Division. The complaint alleged violations
of §§ 11 and 15 of the Securities Act arising out of the Company’s IPO. Plaintiffs agreed to
settle this case for $1.2 million cash payment to class members.
In re Flight Safety Technologies, Inc. Securities Litigation, Case No. 3:04-cv-1175. The
Rosen Law Firm was sole Lead Counsel in this consolidated class action in the U.S. District
Court for the District of Connecticut. The action alleged violations of §§ 10b and 20(a) of the
Securities Exchange Act arising out of the defendants alleged failure to disclose material adverse
information concerning the Company’s products under development and misrepresenting the
amount of time it would take to commercialize the products. Plaintiffs settled the case for a $1.2
million cash payment to class members.
In re: M.H. Meyerson & Co. Securities Litigation, Case No. 02-CV-2724. This class
action, in which the Rosen Law Firm was sole Lead Counsel, was filed in U.S. District Court for
District of New Jersey. The complaint alleged violations of §§10b and 20(a) of the Securities
Exchange Act based on allegedly false and misleading SEC filings related to the planned launch
of an online brokerage business, and other material misrepresentations, which allegedly inflated
the price of Meyerson stock during the class period. Plaintiffs settled the case for a $1.2 million
payment to class members.
In re OPUS360 Corp. Securities Litigation, Case No. 01-Civ-2938. The Rosen Law Firm
was Co-Lead Counsel for this action brought in the Southern District of New York alleging
violations of the federal securities laws arising from a $75.0 million initial public offering of
common stock by the defendant issuer and a syndicate of underwriters including JP Morgan and
Robertson Stephens, Inc. The Court certified the action as a class action and approved a final
settlement.
Fouladian v. Busybox.com, Inc., Case No. BC 248048. The Rosen Law Firm was Co-
Lead Counsel in this class action brought in California Superior Court, Los Angeles County.
The action arose from a $12.8 million initial public offering of securities by the defendant issuer
and underwriter. California and federal securities laws claims (Cal. Corp. Code §25401 and §11
of 1933 Act) were brought on behalf of a nationwide class of public offering investors. The
Court approved a $1.0 million cash settlement to a nationwide class of investors.
Gianoukas v. Tullio and Riiska, Case No. 02CC18223. The Rosen Law Firm was lead
counsel to a group of twenty-one plaintiffs that brought claims of fraud and negligent
misrepresentation in California Superior Court, Orange County against the former Chief
Executive and Chief Financial Officers of a publicly traded software company, NQL Inc. The
complaint alleged that the officers issued a series of false and misleading press releases
concerning the business of NQL for the purpose of inducing the purchase and retention of NQL
securities. Plaintiffs settled the action favorably for a confidential amount.
The BoxLot Company v. InfoSpace, Inc., Case No. GIC 779231. The Rosen Law Firm
was plaintiff’s counsel for this action filed in California Superior Court, San Diego County
which arose from the aborted merger agreement and ultimate sale of The BoxLot Company’s
assets to InfoSpace. The action alleged violations of California securities laws (Cal. Corp. Code
§25400 & §25401) and common laws and sought damages of $92.8 million from InfoSpace and
its CEO, Naveen Jain. The case settled favorably for plaintiffs for a confidential amount.
Huttenstine v. Mast, Case No. 4:05-cv-152 F(3). The Rosen Law Firm is currently
serving as sole Lead Counsel in this class action pending in the U.S. District Court for the
Eastern District of North Carolina. The complaint alleges violations of §§10b and 20(a) of the
Securities Exchange Act arising out of the Company’s material misstatements and omissions
concerning the nature of certain sales contracts it had entered into. Plaintiffs have preliminarily
agreed to settle this action this action for $425,000 cash payment to class members.
Kinzinger v. Paradigm Medical Industries, Inc., Case No. 03-0922608. The Rosen Law
Firm served as sole Lead Counsel in this class action filed in Utah state court alleged violations
of the Utah Securities Act against Paradigm Medical arising out of false and misleading
statements made to investors in a $5.0 million private placement of securities. The court
approved a $625,000 settlement on behalf of the private placement purchasers.