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_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_img FOLLOW US Associated Press Television News SUBSCRIBE TO US LIVE TV Written By Last Updated: 18th August, 2020 08:03 IST Grichuk, Biggio Back Sharp Ryu As Blue Jays Beat Orioles 7-2 Hyun Jin Ryu pitched six innings of four-hit ball, Randal Grichuk homered and drove in four runs and the Toronto Blue Jays beat the Baltimore Orioles 7-2 Monday nightcenter_img Hyun Jin Ryu pitched six innings of four-hit ball, Randal Grichuk homered and drove in four runs and the Toronto Blue Jays beat the Baltimore Orioles 7-2 Monday night.Cavan Biggio also went deep for the Blue Jays and finished with three hits and three RBIs.Ryu (2-1) struck out three and walked none. The left-hander permitted only one runner past second base and yielded just one extra-base hit to a team that came in ranked second in the majors with a .467 slugging percentage.Signed in December to an $80 million, four-year contract, Ryu got off to a shaky start with Toronto in July before showing the form he displayed as a star with the Dodgers. He’s given up a total of two runs in his last three starts after allowing eight runs over nine innings in his first two outings.The Blue Jays took control with a four-run third against Alex Cobb (1-2). Three infield hits produced a run before Grichuk delivered a three-run drive over the center-field wall. It was his third home run of the season, all in the last four games.After hitting 31 homers last year, Grichuk was batting fifth, sixth or seventh in the order this season before Toronto manager Charlie Montoyo decided to move him into the No. 2 spot Sunday to replace injured Bo Bichette. Over the past two games, Grichuk has two homers, four hits and six RBIs.Cobb gave up five runs and eight hits in 6 2/3 innings. He’s winless in his last four starts.Pedro Severino and Renato Núñez had RBIs for the Orioles, who have dropped two straight after winning seven of eight.TRAINER’S ROOMBlue Jays: Bichette (right knee sprain) had an MRI and will receive a second opinion on his injury, Montoyo said. Bichette leads Toronto with a .361 batting average.Orioles: RH Dillon Tate (elbow contusion) came off the injured list and RH Evan Phillips was optioned to the team’s alternate site.UP NEXTBlue Jays: RH Nate Pearson (0-0, 5.11 ERA) makes his fourth start in his first big league season Tuesday night. Drafted 28th overall in 2017, the 23-year-old is looking to rebound after giving up four runs to Miami last week in 2 1/3 innings. “I’m developing at the highest level,” Pearson said Monday. “When I don’t have my best stuff, I’m going to struggle.”Orioles: LH Wade LeBlanc (1-0, 7.13) has allowed a combined 10 runs over 12 innings in his last three starts.Image credits: AP First Published: 18th August, 2020 08:03 IST WATCH US LIVE COMMENTlast_img read more

first_imgThe Central Housing and Planning Authority (CH&PA) on Wednesday hosted an outreach session with representatives from the various municipalities educating them on the processes and systems associated with planning and building regulations.CH&PA Chief Development Planner Germene StewartCH&PA Chief Development Planner Germene Stewart noted that the aim of the session was to provide clarity on planning and building regulation issues in addition to collaborating with municipalities to ensure the procedures were adhered to.“We are hoping by working closely with the municipalities where we can really focus on the complaints and contravention, and this is a start and the start is the awareness session and let persons know out there, because a lot of them do not know the procedures and what is required,” she stated.Additionally, she noted that unauthorised development was an issue plaguing the municipalities and they often led to complications, hence the holding of the session.When asked about penalties for the delinquent developers, Senior Development Planner Fayola Azore noted that the Authority would serve the developer a contravention notice and 28 days after that, they would initiate court proceedings if in non-compliance. The CH&PA is also looking at revising the penalty structure to ensure that the developers comply.Azore added that because of the minimal penalty, collaboration with the municipalities and the local authorities was essential to tackling the issues of non-compliance with building and planning development regulations.“That is the reason we want the local authorities on board, because they can stop this in the beginning. Because they can see when these buildings are going up and they can stop it and then we can still have that contravention served at our end, because sometimes when the building comes to us it is already there and it might be difficult for us to proceed,” she noted.“We need their assistance because at the end of the day the planning permission is not with just the CH&PA, we have our partners which are the local authorities, so we starting with the municipalities and after we will be going into the Regions with the (Neighbourhood Democratic Councils) NDCs,” Azore added.The Planning and Settlement Development Department of the CH&PA as part of its mandate, under the Country and Planning Act, Chapter 20:01 is tasked with the responsibility of promoting and facilitating orderly and sustainable development within the country. This is achieved through the planning and development process, which mainly involves the preparation of developmental plans and the implementation of these plans to ensure compliance. Hence, before any development takes place, planning permission is required.last_img read more