first_imgSource: BusinessWire – April, 21, 2009 Coughlin Stoia Geller Rudman & Robbins LLP, a leading plaintiffs’ firm based in San Diego, has announced the firm has secured a settlement of $50 million in cash for a class of TD Banknorth, Inc shareholders. Plaintiffs in a related action previously attempted to settle the case for under $3 million, or $.03 per TD Banknorth share. This victory for shareholders provides members of the class with an exponentially greater recovery than the related action was poised to provide before plaintiffs City of Dearborn Heights (MI) Act 345 Police & Fire Retirement System and H. Louis Farmer, Jr. successfully objected to that settlement and took over the case.The $50 million settlement, before fees and expenses, is more than 16 times the amount shareholders would have received under the previously proposed settlement. The Settlement Agreement was filed with the Court late yesterday and the settlement is subject to approval by the Court.”We always believed that TD Banknorth’s shareholders deserved more than mere pennies, and we’re pleased that we were able to obtain substantially more than the originally proposed settlement,” said John J. Riley II, the Treasurer of the City of Dearborn Heights.This class action was filed on behalf of former stockholders of TD Banknorth, arising out of the April 20, 2007 going-private merger in which Toronto-Dominion Bank, TD Banknorth’s majority stockholder, cashed out TD Banknorth’s public stockholders for $32.33 per share. The plaintiffs alleged that defendants breached their fiduciary duties to TD Banknorth’s shareholders because the terms of the going-private merger were unfair and the result of an unfair process.A number of plaintiffs filed complaints in Delaware and attempted to settle the case quickly. At the same time, Farmer filed an action in Maine state court and aggressively litigated the case. After obtaining strong evidence in support of his claims, Farmer, along with Dearborn Heights, took his case to Delaware and successfully objected to the settlement reached by the original Delaware plaintiffs. As the Court later summarized:While Farmer took extensive discovery in the Maine litigation, including nine depositions, the Original Plaintiffs did little to advance the litigation in Delaware, seemingly satisfied with negotiating a very modest settlement. Aware of these negotiations and concerned by what he saw as the Original Plaintiffs’ lack of diligence, Farmer stipulated to stay the Maine litigation and, with the other plaintiff currently seeking certification, the City of Dearborn Heights Act 345 Police & Fire Retirement System (“Retirement System”), filed a motion to intervene in the Delaware litigation. On March 23, 2007, two days after the filing of the motion to intervene, the Original Plaintiffs filed a stipulation of settlement, agreeing to the certification of the class and the appointment of the Original Plaintiffs as class representatives. The terms of the settlement also included certain corrective disclosures, and an increase of $.03 per share in the merger price…. Farmer and Retirement System filed their objection, amply supported by the extensive discovery taken in the Maine action, and, on July 19, this court rejected the settlement….”We firmly believed in the strength of our claims and were forging ahead towards trial prior to reaching a settlement with defendants. We consider this an exceptional result for our clients and the class,” said Coughlin Stoia partner Samuel H. Rudman.For more information, you can review the Settlement Agreement and exhibits thereto on the Coughlin Stoia web site (www.csgrr.com(link is external)) and at www.TDBanknorthShareholdersLitigation.com(link is external).last_img read more

first_imgSeedorf and Kluivert have been tasked with retaining the AFCON for CameroonGROUP A: Madagascar v Senegal, Equatorial Guinea v SudanGROUP B: Comoros v Cameroon, Morocco v MalawiGROUP C: Gabon v Burundi, South Sudan v MaliGROUP D; Togo v Benin, Gambia v AlgeriaGROUP E: South Africa v Libya, Seychelles v NigeriaGROUP F: Kenya v Ghana, Ethiopia v Sierra LeoneGROUP G:  Congo Brazzaville v Zimbabwe, Liberia v DR CongoGROUP H: Rwanda v Ivory Coast, Guinea v Central African RepublicGROUP I: Angola v Botswana, Mauritania v Burkina FasoGROUP J: Egypt v Niger, Swaziland v TunisiaGROUP K: Mozambique v Guinea Bissau, Namibia v ZambiaGROUP L: Uganda v Tanzania, Lesotho v Cape VerdeThe spotlight is squarely on a number of high profile managerial appointments when the qualifiers for the 2019 Africa Cup of Nations resume this weekend.Defending champions and hosts Cameroon have parted company with title winning coach Hugo Broos. New coach Clarence Seedorf, assisted by Patrick Kluivert are the new faces in charge of the five-time champions.Eighteen months ago in Gabon, Belgian coach Broos guided a team of virtual unknowns to surprise success over an experienced Pharaohs side. Broos’ replacements – Seedorf and Kluivert – are as high profile as they come. Former Dutch international Seedorf was a celebrated footballer, notably winning four Champions League titles with Ajax Amsterdam< Real Madrid and AC Milan. But his coaching career is yet to take off.His last station was a six month sojourn with Spanish club Deportivo La Coruna, which ended in relegation to Segunda. His deputy, Kluivert, assisted Louis van Gaal as Holland finished third at the Brazil 2014 World Cup, but he has never been in full control of a club or country.Seedorf’s first task will be to claim victory over lowly Comoros, who have never qualified for a Nations Cup finals. However, for the Dutchman to cement a lasting legacy, he must become the first Indomitable Lions tactician to retain the continental title since Cameroon won back to back editions in 2000 and 2002 under Pierre Lechantre (00) and Winfried Schäfer (02). For that to happen, he will need the services of self exiled stars like Joel Matip and Eric Maxim Chuopo Moting.Elsewhere, new Egypt   boss Javier Aguirre Onaindia, who replaced Hector Cuper, is tasked to help the Pharaohs rediscover the dominance that saw them win three consecutive titles between 2006  and 2010. Not even a dispute between the team’s leading star, Mohammed Salah and the country’s FA over image rights can stand in Aguirre’s way when Egypt welcome Niger for a Group J face off.Meanwhile, former African Footballer of the Year, Emmanuel Amunike, who starred for Nigeria’s Super Eagles as they lifted the 1994 edition, has been tasked to inspire the Taifa Stars of Tanzania to new heights.Tanzania are geographically and population wise one of Africa’s largest countries but they don’t punch their full sporting weight. Amunike’s maiden competitive encounter sees him take the Taifa Stars to Kampala to face Sebastian Desabre’s Uganda Cranes in a Group L match up.Other interesting tacticians to look out for include Senegal’s World Cup boss Aliou Cisse who takes the Lions of Terranga to Madagascar. Cisse will have to don’t his football thinking cap. In Madagascar, they face a well motivated side that won their opening Group A game away to 1970 champions Sudan.Africa’s other World Cup representatives, Morocco and Nigeria, have also chosen continuity. Altas Lions boss Herve Renard will be expected to negotiate a straight forward Group B home tie against paper weights Malawi whereas Nigeria’s Gernot Rohr also has a winnable Group E away tie to islanders Seychelles.Comments Tags: 2019 AFCON Qualifierstoplast_img read more

first_imgdana oshiro Related Posts A Culture of LearningTechAviv founder and serial startup entrepreneur Yaron Samid worked on BackWeb in Silicon Valley, Pando in New York and recently launched CrowdSpot in Tel Aviv. Says Samid, “Tel Aviv melds the best of both the Valley and downtown New York; a rich tech talent pool obsessed with entrepreneurship, in the heart of a 24/7 popping cosmopolitan town filled with beautiful people, artists, musicians and world travelers. Add year-round sun, outdoor cafes and beaches everywhere and you’ve got yourself geek heaven.” For all of Samid’s reasons, Israel has given rise to a diverse range of startups including face recognition service Face.com, IM / VoIP provider Fring, web analytics service ClickTale, gift-giving platform The Gifts Project, image attribution giant PicScout, gadget guide Walyou and Q&A repair service FixYa.Samid’s TechAviv organization is one place where leaders from these companies can meet and share advice. Since 2007, Samid’s organization has grown from a simple invite-only meeting of founders into a global network with a separate founders club, angel club and business workshop. In addition to TechAviv, Israeli entrepreneurs and technologists have the opportunity to learn from informal events like GarageGeeks and VC meet ups. The Zell Entrepreneurship Program has also proven to be an amazing resource for early-stage entrepreneurs. This formal and informal culture of shared learning is maintained by some of the countries most successful entrepreneurs. Ariel Finkelstein, CEO of feedback analytics company Kampyle recognizes the community’s contributions. Says Finkelstein, “Other entrepreneurs helped Kampyle when we were growing and we feel strongly about supporting the new startups… It’s important for a growing team to get good advice and to understand fully the commitment and hard work that goes into launching a global company.”In addition to sitting on several boards, mentoring at the Zell program and participating as an active TechAviv member, Avichay Nissenbaum is well known for orchestrating two lucrative exits including the sale of SmarTeam to Dassault Systemes and most recently, question and answer site Yedda to AOL. Says Nissenbaum, “What characterizes Israeli entrepreneurs is passion and dedication, high technological skills, openness and directness, and in a formal sense – the willingness to take reasonable risk.” While he argues that Israelis have the advantage of a global view and the creativity to solve problems under pressure, he also recognizes the challenge of many entrepreneurs targeting an American market from abroad. The Globetrotting LeaderShuly Galili, Executive Director of the California Israel Chamber of Commerce, is often approached by entrepreneurs to help in the US launch process. Claims Galili, “In terms of mentorship, Tel Aviv lacks serious angel investors/mentors to guide entrepreneurs with their launch and market positioning. This is one critical need that is missing and is very evident to us at the California Israeli Chamber of Commerce.”Entrepreneur Yaron Galai has found a dual-city operation works best for him. After moving his Quigo research team to New York, he found that to his dismay his team’s focus changed from innovation to basic maintenance. After selling Quigo to AOL, Galai’s new content rating company Outbrain maintains engineering, quality assurance and research in Israel, with sales, marketing and product in the US. Galai has found a way to stay close to the company’s target market while still keeping productivity and innovation high. Says the CEO, “I think Israeli entrepreneurs should be thinking about how to mix both things: Build companies that are based in Israel, but that can operate and communicate effectively with strong global sales/product/marketing teams in its core markets.”The State of FundingIsrael is ranked second in the world for venture funds next to the US. Although we recently reported that Israel’s funding saw a sharp descent in 2009, the dollar values raised for a country the size of New Jersey with a population of only 7.5 million citizens is indeed impressive. A number of legendary angel investors including Dr. Yossi Vardi, Zohar Gilon and Rami Lipman hang their hats in Israel. Meanwhile, some of the notable angel resources include Israel Seed Partners, TechAviv Angels Club, AfterDox and Startup Factory. Entrepreneurs can also approach firms like Carmel Ventures, Gemini Israel Funds, Sequoia Capital and Bessemer. Another avenue is the Ministry of Industry, Trade and Labor’s Chief Scientist Program for seed funding, grants and access to 24 tech incubators.Daniel Cohen of Gemini Israel Ventures remarks that Israel’s mandatory military service may contribute to startup leadership qualities. Cohen explains that because young people are placed in management roles at a very early age, these skills may contribute to innovation and problem solving abilities in business leaders. Says Cohen, “The scene here is vibrant. There are hundreds of new companies that launch every year. Israelis have seen their fair share of funding and exits, Israel’s challenge is building longer lasting companies. “Agrees Yaron Galai, “We might be starting to see the signs of change in the quick exit mentality with second time entrepreneurs coming back to the game. [They’re] free from having to focus on locking in an early sale, and really focused on building bigger, longer-term, sustainable companies. “Photo Credit: Or Hiltch Tags:#Never Mind the Valley#start#startups Why Tech Companies Need Simpler Terms of Servic… RWW’s Never Mind the Valley series:AustinBangaloreBeijingBostonBoulderIsraelLondonLos AngelesNew YorkPortland 8 Best WordPress Hosting Solutions on the Market Top Reasons to Go With Managed WordPress Hosting Israel isn’t just an emerging tech hub, it’s a hotbed of activity and has been for many years. Per capita, Israel has the most startup companies and spends more on research and development than any other nation in the world. Israelis lay claim to the invention of Intel’s Pentium 4 microprocessor, CheckPoint’s firewall, Comverse’s voicemail, Amdoc’s telephone billing system and a ton of VoIP technology through companies like Audiocodes and Vocaltec. Between a value for innovation and a great funding scene, Tel Aviv and Herzliya are ripe with startup entrepreneurs. ReadWriteWeb caught up with some influencers to hear their thoughts about the country’s tech scene. A Web Developer’s New Best Friend is the AI Wai…last_img read more

first_imgMario Gotze might not have played a single minute of competitive football this season, but he does not merit criticism from Lothar Matthaus, according to Hans-Joachim Watzke, Borussia Dortmund’s CEO.Matthaus has come down hard on the player in recent days, indicating that if the player who scored the World Cup-winning goal in 2014 is to thrive once again, he will have to depart Dortmund.The Germany icon says that level is currently “behind” the 26-year-old, who is “missing quality” and the opportunity to play in a position that he can thrive in. Article continues below Editors’ Picks Man Utd ready to spend big on Sancho and Haaland in January Who is Marcus Thuram? Lilian’s son who is top of the Bundesliga with Borussia Monchengladbach Brazil, beware! Messi and Argentina out for revenge after Copa controversy Best player in MLS? Zlatan wasn’t even the best player in LA! Watzke, however, has taken exception to these comments.“I know that Lothar Matthaus earns his money as a pundit and has to put forward provocative theories, but it would be nice, if one of the greatest players that Germany ever had, he could leave Mario alone and not trample on him,” the CEO said.“Mario is doing the right things: he trains well, he does not let up, he gives to the team, he’s totally focused, he’s an important part of our squad and I’m sure he’ll play some great games for BVB this season.”New head coach Lucien Favre has yet to use the playmaker, who was forced to watch in frustration as Dortmund beat Eintracht Frankfurt 3-1 on Friday.“I know for sure that the coach has a very high opinion of him and will use him, as he clearly said after the match,” Watzke confirmed.Since moving back to BVB in 2016, Gotze has managed fewer than 50 appearances and has mustered only four goals in all competitions.last_img read more