Corporate Governance-July 29, 2008-Ryan v. Lyondell
Delaware Chancery Court upholds complaint, allowing case to proceed to trial; declares that Directors' Revlon duties to maximize value for shareholders are triggered in dealing with an unsolicited bid from a buyer. Obtaining "fair" price does not satisfy directors' obligation to get the best possible price under the circumstances.
Read the Decision
Consumer Class Actions-Sears Stainless Steel Drum Dryers-November 1, 2007-Class Certification ordered
U.S.District Court orders case to proceed as a class action for 29-state class of purchasers of Sears Kenmore "Stainless Steel Drum" dryers that are actually only partially stainless steel. KrislovLaw Class Counsel.
Read the Decision
Whistleblower/False Claims Act cases-Accountant liability for aiding in payments to third parties-April 3, 2008
Krislovlaw obtains landmark decision upholding complaint for false claims act liability against accounting firm for preparation of false claim for payment to a third party.
Read the Decision
Securities Class Actions-DVI, Inc.-Class Certified-April 29, 2008
U.S.District Court grants class certification in DVI, Inc. Securities Litigation. Case certified to proceed as a class action for defrauded purchasers of DVI, Inc. stock and notes; Krislovlaw certified as class counsel.
Read the Decision
Constitution & Election Issues: Illinois Felon Candidates struck from the ballot-Illinois Supreme Court, February 23, 2007
KrislovLaw took the lead
in pro bono litigation to enforce Illinois prohibition
on felons from holding municipal office:
Taking up the gauntlet
against corruption in Illinois politics, we brought
litigation challenging the Election Board's determination
to permit previously convicted felons from holding
municipal office. "With four felons running for
office who had already been convicted of extortion,
we chose to take action for the people of Illinois
and the City of Chicago. This is an important step
for honest government in Illinois."
Read
the Illinois Supreme Court Order
Corporate Governance-Option Backdating
A quartet of great decisions declaring that backdating breaches officers and directors' fiduciary duties to the corporation and its shareholders, and forcing disclosure, holding that management cannot conceal the investigative files of "special" committees formed to investigate backdating from derivative shareholders.
Maxim 1
Maxim 2
Maxim 3
Maxim 4
FEHBA Health Plan
Participants!
Blue Cross Reimbursement/Subrogation claims with respect
to participants in the FEHBA-Federal Employee Health
Benefits Act Plan. Read
the latest news.
DVI Securities Litigation
- Final approval of First Series of Partial Settlements
in DVI Securities Litigation! Read
the latest news.
Wellpoint's growth
by dumping sick people is "immoral, oppressive,
unethical and unscrupulous"
On July 11, 2006, U.S. District Judge J. Phil Gilbert
upheld our complaint against Wellpoint and its Uncare
and other affiliates, labelling their actions to grow
by acquiring profitable healthcare systems while manipulating
the insurance laws to rerate or rid itself of those
most in need of health insurance as: "certainly
immoral, oppressive, unethical and unscrupulous."
Read:
Opinion
& Order Gilber USDJ Upholding Complaint
New Consumer Case
Filed: March 9, 2006:
Sears Kenmore "Stainless Steel Drum" Dryers
that are only partially stainless steel, alleged to
cause rust stains in clothes.
View
the complaint
Victory for Absentee
Voters!
Absentee Voters
whose ballots are rejected by judges entitled to due
process:timely notice and opportunity to defend their
ballot!
On March 7, 2006, U.S.
District Judge Coar certified our case to proceed
as a double class action; for the plaintiff class
of all absentee voters whose ballots were rejected
without receiving notice until after the final canvass
of votes (so their ballot was not counted) and against
a defendant class of all 111 Illinois election authorities,
ensuring that absentee ballot voters have uniform
rights statewide.
Subsequently, on March
13, 2006, Judge Coar entered summary judgment for
the plaintiff class, finding that the County Clerk's
delay in notifying rejected absentee voters, and the
State's failure to provide a means to defend one's
absentee ballot, do violate federal due process constitutional
rights.
One more victory for
honest and accurate elections in Illinois.
Clint Krislov was quoted:
This is yet another example of why we need to protect
citizen's access to the courts. It was only by Mr.
Zessar's upset at his absentee ballot's rejection,
and his not being notified for 2-1/2 months thereafter,
that he contacted us and we brought this court action,
which will result in fixing the system when the legislature
failed to act. Those who want to close the court system
to all but the wealthy and powerful corporate interests
should recognize that sooner or later, it will be
their own interests whose defense is lost, as well."
Read:
Summary
Judgment Opinion 3/13/06
Memo
Opinion Order 3/7/06 Certifying Both Plaintiff and
Defendant Class
New Development
Cingular Wireless
CellSite litigation.
Cingular finally admits
that it has no right to terminate for overlap or convenience!
Following remand by the
Sixth Circuit U.S. Court of Appeals, Cingular admits
that it has no right under the Parma contract language
to terminate for overlap or economic convenience.
Read the transcript of
November 2, 2006 hearing at page 8: Cingular’s
lawyer McCaffrey: “We do not have that right
with the lease with Parma.”
We are asking the court
to enter summary judgment against Cingular on this
matter, and will seek to have this applied to all
Cingular cellsite lessors who are or were being intimidated
into accepting reduced or amended lease terms on threat
of termination.
If you are an affected
cellsite owner/lessor, we would be interested in hearing
from you.
If you are a present
or former Cingular, Md7 or Black Dot employee with
information to share about this matter, we would be
happy to speak with you confidentially.
Read:
Transcript
of November 2, 2006 hearing
KrislovLaw establishes
constitutionality of Illinois Whistleblower/Qui Tam
Statute!
llinois Supreme Court
June 3, 2005
The product of 250 Freedom of Information Act requests,
Krislovlaw sued underwriters/financial consultants
and accountants for "Yield Burning" (overcharging
municipalities for U.S. Treasury obligations in
connection with municipal debt refinancings).
On direct appeal from
the Circuit Court's declaration that the Illinois
Whistleblower Act and Article XX Citizen actions
to recover Fraudulently Obtained Public Funds were
both unconstitutional, the Illinois Supreme Court
upheld the Whistleblower Statute and guided the
legislature on how to cure the invalidity of the
Article XX actions.
Read the Court's opinion:
Court
Opinion
New Case: Krislov
& Associates Files Suit Against Cingular Wireless
on Behalf of Cell Site Owners.
Read
the Press Release
View
case information.
Federal Judge upholds
complaint in DVI Securities Litigation.
On May 31, 2005, United
States District Judge Lagrome Davis denied motions
to dismiss filed by 15 of the 16 defendants, allowing
the case to proceed ahead for purchasers of DVI
stock and notes. Krislov & Associates, Ltd.
Is lead plaintiffs' counsel in the case, arising
from the $350 million collapse of medical financer
DVI, Inc.
Read the court's opinion:
Court
Opinion
New Filing: Securities:
Travelers/St. Paul Merger:
On August 24, 2004, Krislovlaw filed a complaint for
former Travelers shareholders alleging they were defrauded
in the company's merger with St. Paul Cos..
View
the complaint
Press
Release
If you wish to join
the case and have us add you to the complaint, please
fill out and send the certification
form
Purchasers of Illinois
College Bonds!
Parents who
purchased Illinois College Bonds are entitled to their
promised subsidy for their children attending Illinois
colleges (public or private).
If you bought these bonds,
on which the State’s new budget fails to appropriate
funds, and reneges on the subsidy, we’d like
to hear from you.
Please email your name,
address and bond information, and we will pursue the
state to fulfill its promised subsidy for your children’s
tuition cost.
We believe that the State’s
action is an outrageous bait-and-switch on families
who prudently planned in advance to fund their children’s
education.
Send an e-mail
with the following information:
- Name
- Address
- Telephone
- E-mail address
- Date of purchase
- Maturity date
Fax (312-606-0207)
or e-mail (Clint@krislovlaw.com)
a copy of broker’s statement showing bonds
purchased
ATTENTION MAYTAG NEPTUNE
OWNERS
Our firm represents owners of Maytag Neptune front
loading washing machines. Class action law suits have
already been filed in several states against Maytag.
If you would like us to evaluate your potential claim,
please fill
out our "Maytag Owner" form
and we will contact you.
BankAmerica Securities
Litigation MDL No. 1264
Federal Court of Appeals for the 8th Circuit Affirms
approval of Settlement, and denies reconsideration
to objectors.
This case was brought
on behalf of the shareholders of the former NationsBank
Corporation ("NationsBank") and the former
BankAmerica Corporation ("BankAmerica")
to assert claims arising out of the merger of the
two corporations on September 30, 1998 (the "Merger").
Krislov & Associates, Ltd. served on
the steering committee as second counsel for the
BankAmerica plaintiffs attorneys and are pleased
to have helped produce the $490 million settlement,
of which one-third ($156.8 million) is allocated
to the former BankAmerica shareholder classes. For
further information on this settlement, email us
at: Clint@krislovlaw.com,
or click on this link: www.bankofamericasettlement.com
KrislovLaw selected
as Lead Counsel in DVI, Inc.
Securities Fraud Cases
KB Toys Notice of
Settlement of Claims for Deceptive Pricing Portrayed
as Discount See
the notice, providing for $3 Million recovery
for consumers by way of
automatic 30% Discounts during week of October 8-14,
2003. Read the
notice in Español.
Federal Court certifies
class in challenge to legality of City's Mandatory
Retirement Age
On December 13, 2002, Federal Judge Bucklo certifies
class of police and firemen subject to mandatory retirement
at age 63. Read the certification.
Environmental Class
Victory in Landfill case for
neighboring homeowners.
On July 18,
2002, the Illinois Appellate Court restored to life
our case for the neighbors of the Mallard Lake landfill
project, complaining of negligent operation of the
landfill, which impaired the enjoyment and property
values of neighboring homeowners. Read
the opinion.
Major Victory In Whistleblower
cases over Yield Burning!
In a major victory for governemental entities harmed
by Yield Burning-overcharges by Underwriting firms
in refinancing municipal debt- the Illinois Appellate
Court restored two complaints brought by Krislovlaw
-
holding that whistleblowers may assert the doctrine
of "nullum tempus ocurrit regis" (time never
runs against the sovereign) in cases brought for damages
to state and local governments. This reopens at least
six pending Whistleblower/Yield Burn cases filed for
cities, counties and the State and restores the prospect
of recovering millions of dollars for defrauded government
treasuries. Read the opinion.
Rock Fans Have Rights
Too!
Judge upholds complaint for overselling tickets
to NSYNC Concert! On December 12, 2001 Chancery Judge
Lester Foreman upheld our complaint against Nsync,
SFX and the venue for overselling tickets to an Nsync
concert which left fans stuck for miles in their cars,
many unable to ever reach the venue in time to see
this performance.
Judge
Foreman held that promoters have an obligation to
disclose to ticket holders the problems they'll face
in trying to attend the event they buy tickets for.
Civil RICO-Unfair
Competition
Federal Appeals court upholds claim that competing
cleaning service can assert civil rico claim for business
lost to a competitor who gains a competitive adavantage
from hiring illegal aliens. Read
the opinion.
The Illinois Appellate
Court affirms the use of the "stream of commerce"
doctrine to find personal jurisdiction over a foreign
company that deceptively sold limited edition pens.
Read the opinion.
IVI-IPO
Awards 2001
Legal Eagle Honor to Clint
Krislov
