At least four securities class action firms have said they were in the process of filing lawsuits in the U.S. District Court for the Southern District of New York on behalf of Facebook shareholders. Continue reading →

Introduction The law firm of Lieff Cabraser Heimann & Bernstein, LLP announces that a class action lawsuit has been brought on behalf of all persons and entities who purchased the securities of Facebook, Inc. ("Facebook" or the "Company") (NasdaqGS: FB) pursuant and/or traceable to the Company's Registration Statement and Prospectus issued in connection with its $16 billion initial public offering of common stock on May 18, 2012 (the "IPO"). Background on the Facebook Securities Class Litigation The action is brought against Facebook, certain of its officers and directors, and the underwriters of the IPO for violations of the federal securities laws. The complaint alleges that the IPO Registration Statement and Prospectus were negligently prepared and failed to disclose material information about Facebook's business, operations and ... Continue reading →

A former law student has won a bid in bankruptcy court to discharge nearly $340,000 in education debt because her diagnosis of Asperger Syndrome rendered her unable to repay the loans. The U.S. Bankruptcy Court for the District of Maryland on May 17 found that Carol Todd, who attended the University of Baltimore School of Law, met the difficult burden of showing that she would suffer undue hardship if forced to repay her debt. Todd, who received her high school general equivalency diploma during the late 1980s, at the age of 39, began attending law school in 1992 but did not finish, according to the opinion. She went on to obtain a master's degree from Towson University and a Ph.D. from an unaccredited online school ... Continue reading →

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Dewey & LeBoeuf’s D.C. Landlord Seeks to Evict Firm The landlord of Dewey & LeBoeuf’s Washington office space is suing the embattled firm for $927,000 in back pay, according to court documents. The civil suit, filed Monday in D.C. Superior Court by 1101 New York Holdings LLC is seeking back rent, utility fees, operating expenses, attorney fees and late fees, among others. It cites Dewey’s monthly rent at slightly greater than $550,000 a month for its office located at 1101 New York Avenue N.W. The amount due is for expenses dated February 1 through May 12. According to the filing, the landlord is seeking to wrestle control of its 140,000 square-foot office space back from the firm. A hearing is scheduled for June 4, during ... Continue reading →

Posted May 17, 2012 1:08 PM CDT By Martha Neil Add another lawsuit to the list of ongoing legal action against Dewey & LeBoeuf. In an eviction action filed this week in Washington, D.C., the firm's landlord says it owes $550,000 in rent that wasn't paid from Feb. 1 to May 12, according to the Washington Post's Capital Business Blog. Including $26,000 in late fees and utility charges, taxes and legal costs, the total amount the landlord is seeking tops $927,000. In recent weeks, the struggling firm has also been sued by employees, including associates who say their reported mass layoffs after one week of notice or less didn't comply with laws mandating more advance warning. Earlier this week, the Pension Benefit Guaranty Corp. sued ... Continue reading →