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 ( is external)) and at is external).last_img read more

first_imgIn an article I found in the Indianapolis Star, they talked about where the top 200 football players from Indiana went to college.  Of their top 25 only 9 stayed in Indiana.  Two of these athletes went to Purdue, 3 went to IU, 2 went to Ball State, and the other 2 to Notre Dame.Why are more of them not staying in Indiana?  The number 1 reason that I have found is that most high school athletes think it is much more prestigious to go out of state to continue their sporting career.  Secondly, since Notre Dame has the highest national recognition in football, Notre Dame seems to believe Indiana high school athletes don’t meet their standards.   The other colleges seem to believe that Indiana high school football is not on the same level as places like Ohio, Texas, Pennsylvania, and Florida.  What a pity!last_img read more

first_imgSOME of the country’s brightest prospects who gathered at the Cliff Anderson Sports Hall over the last two days, will know their fate today with regards to their selection to Guyana’s team for this year’s FIFA U-17 Centrobasket Championship, which will be held in the Dominican Republic from July 26 – 30.The Guyana Amateur Basketball Federation (GABF) had shortlisted 21 players and also made the two-day trials open to players from their affiliated associations.Former National star-player and point guard, Lugard Mohan was named as Head Coach of the squad, and under his watchful eyes, players were taken through various paces at the Cliff Anderson Sports Hall, all hoping to be among the 12 that will be representing the ‘Land of Many Waters’ in Santo Domingo.Following today’s trials, according to the GABF, training sessions will continue with a reduced squad at the Cliff Anderson Sports Hall on June 17-18, 24-25, July 1-10,after which the team will be encamped from July 14-24 prior to their departure for the Dominican Republic on Tuesday July 25.Guyana were placed in Group ‘A’ of the tournament and will open their campaign against the Bahamas on July 26, followed by a clash with Puerto Rico on Thursday July 27 and then close off their group-play against Mexico on July 28.According to the International Basketball Federation (FIBA), the competition system of the tournament consists of two phases.In the Group phase, the eight participating teams (Bahamas, Dominican Republic, Guyana, Jamaica, Mexico, Panama, Puerto Rico and the Virgin Islands) will be divided into two equal groups.Teams will play in round-robin format for three days. The top two teams from each group will advance to the next phase, where the first-placed team of Group A will oppose the second-placed team in Group B and vice versa.The winners of the semi-finals will advance to the ‘gold medal match’, while the losers will play for the bronze of the continental event.The top three teams from the tournament will qualify to the FIBA U-18 Americas Championship 2018, to be played in St Catharines, Canada, June 11-17, 2018.Guyana qualified for the 2017 FIBA Centrobasket U-17 championship by finishing behind the Bahamas at last year’s Caribbean Basketball Confederation (CBC) U-16 tournament which was hosted at the Cliff Anderson Sports Hall.last_img read more

first_imgAs I sat and watched the NFL playoffs the last two weekends, the games initiated a thought process for yours truly. Alex Smith versus Drew Brees, Eli Manning versus Aaron Rodgers, Joe Flacco versus T. J. Yates, Tom Brady versus Tim Tebow all were part of the top of the food chain of the NFL. There is a quarterback in Pittsburgh that is revered. His name is Ben Roethlisberger. He has from the beginning taken the media and the Pittsburgh fan base by storm. The management of the Pittsburgh Steelers has coddled and catered to Big Ben since his career was launched. As far as I am concerned, he has underperformed significantly. Take a look at the San Francisco 49ers quarterback Alex Smith. To say his tenure in San Francisco has been tenuous and volatile would be greatly understated. Smith has had seven offensive coordinators in seven seasons but has advanced to the NFC Championship game. Wow that is deep!  This “enamoration” with Roethlisberger began in 2004 when he was thrust into service as a rookie when Tommy Maddox was injured. After splitting their first two games, Roethlisberger led the Steelers to victory in all of the team’s 14 remaining regular season games, giving Pittsburgh a 15-1 record and making the Steelers the first AFC team ever to win 15 games. However, the Steelers lost to the eventual Super Bowl champion New England Patriots in the AFC Championship game which forever can be hailed as one of the Patriots famous “cheat sheet games.”The primary reason that I went back to the humble beginnings of Big Ben is because everyone thought it was such a big deal to have a QB who was not expected to play standing front and center on the NFL’s grandest stage. The media made such a huge deal of Ben winning 14 games, but as I looked around the league in 2011, I saw young quarterbacks like Andy Dalton of the Cincinnati Bengals and T.J. Yates of the Houston Texans thriving on the fly.  Ben’s rookie year accomplishments when viewed with hindsight do not seem as impressive as they did in 2004.I remember sitting in the press box in Baltimore the year prior to Roethlisberger gaining the starting position. David Steele, formerly of the Baltimore Sun looked over at me after Maddox had played a horrible game against the Ravens and said, “Tommy Maddox does not deserve an NFL paycheck.” That being said the position of quarterback for the Steelers more than likely would’ve been put into Big Ben’s hands eventually.  During that stretch for Maddox, the fanatics of the Steelers nation were guilty of such despicable acts as throwing bags of garbage onto his lawn. Judging by the way Roethlisberger has performed lately, injured or not, can’t you hear the diesel engines of the garbage trucks humming? Also the coaches of the Steelers may be receiving an extra “sewage surcharge” if they are not careful.It is time for Roethlisberger, Mike Tomlin, Dick LeBeau, and Bruce Arians to cut loose or exit the outhouse.I have been one of the most vocal critics of the New England Patriots and their head coach Bill Belichick after his cheating methods were discovered and exposed. That being said, Belichick is one of the most innovative, intellectual and opportunistic coaches I’ve ever seen in my 27 years of covering the NFL. He always seems to pit the strength of his team against the weakness of the opponent. The Patriots were 31st in pass defense during the 2011 season yet during their recent win over the Denver Broncos, they only allowed Denver QB Tim Tebow to complete 9 of 26 passes for 136 yards and allowed the Broncos to score a measly 10 points. Was this really the 31st ranked pass defense of the NFL?  Yet the Steelers number one passing defense allowed the Broncos to torch them for 316 yards and 29 points. How can that be? The Broncos put their weakness up against the strength of the Steelers and won, convincingly.Will the Steelers be able to evolve just as other franchises are changing right before their eyes? Probably.  Are they in danger of falling by the wayside, possibly because they are married financially to a quarterback who is having an illicit affair on them behind their back? Maybe. Is Roethlisbeger divulging secrets to Steelers opponents or Las Vegas odds-makers for ill-gotten gain? Heck no. Is he intentionally throwing picks and fumbling the ball away? I think not. His love of self is the obvious negative. Big Ben may just be having secret liaisons at questionable locations in seedy hotel rooms only with, oh gosh, himself.(Aubrey Bruce can be reached at Bruce is also the NFL/AFC North analyst on the ‘Odd-Couple Sports Show’ streaming live on Fox Sports radio.)last_img read more

first_imgThe Nelson Angels came within a game of capturing the West Kootenay Minor Baseball Crown after dropping a 9-5 decision to Trail Orioles in the Heritage City.Mallard’s Source for sports would like to salute the Angels on a great season.The team includes, Coaches Hart Wintraub and Calvin Kooznetsoffand players,Drake Proctor, Seth Knudsen, Derek Kim, Ryan St. Thomas, Levi Reynolds, Connor Kooznetsoff, Christian Kooznetsoff; Brady Stocks, Owen Stanely, Cypress Thwaites and Koa Wintraub.last_img