/raid1/www/Hosts/bankrupt/CAR

/raid1/www/Hosts/bankrupt/CAR_Public/100506.mbx C L A S S A C T I O N R E P O R T E R Thursday, May 6, 2010, Vol. 12, No. 88 Headlines AGL RESOURCES: Ga. Sup. Ct. Upholds Ruling in Overcharging Suit AXIS CAPITAL: Plaintiffs' Appeal on Dismissed Suit Still Pending BROADCOM CORP: Awaits Court Approval of Settlement Agreement CARMAX INC: Units Continue to Face Claims in Consolidated Suit ENCORE CAPITAL: Parties Order to Brief Issues for Certification ENCORE CAPITAL: Faces Lawsuits Over Claims for FDCPA Violations FIDELITY NATIONAL: Second Circuit Affirms Dismissal of NY Suit FIDELITY NATIONAL: Fifth Circuit Affirms Dismissal of Texas Suit FIDELITY NATIONAL: Arkansas and Washington Complaints Dismissed FIDELITY NATIONAL: Appeals Denial of California Suit Dismissal FIDELITY NATIONAL: Motion to Dismiss Delaware Complaint Pending FIDELITY NATIONAL: Summary Judgment Motion in Penn. Suit Pending FIDELITY NATIONAL: Ohio Lawsuit Over Title Insurance Dismissed FIDELITY NATIONAL: Motion to Dismiss Amended NJ Suit Pending FIDELITY NATIONAL: West Virginia Suit Remains in Inactive Status FIDELITY NATIONAL: Florida & Mass. Suits Voluntarily Dismissed FIDELITY NATIONAL: Affiliates Still Defendants in Complaint FIDELITY NATIONAL: Defends "Recording Fees" Suit in Missouri FIDELITY NATIONAL: Defends "Recording Fees" Suit in New Jersey FIDELITY NATIONAL: Fifth Circuit Affirms Summary Judgment Ruling FIDELITY NATIONAL: Summary Judgment Pending in "Escrow Fee" Suit FIDELITY NATIONAL: Continues to Defend Suit it Hawaii FIDELITY NATIONAL: Continues to Defend Amended Suit in Nevada FIDELITY NATIONAL: Class Certification Granted in Illinois Suit FIDELITY NATIONAL: Units Continue to Defend Two Suits in Calif. GODADDY.COM INC: Sued in Ark. for Unlawfully Using Domain Names GOLDMAN SACHS: S.D.N.Y. ABACUS Disclosure Shareholder Suit Filed GOLDMAN SACHS: Acknowledges Receipt of Six Shareholder Lawsuits PALM INC: Being Sold for Too Little, Calif. Suit Claims PFIZER INC: Supreme Court Junks Appeal in Celebrex Fraud Suit PINNACLE GROUP: S.D.N.Y. Certifies Tenant Class in RICO Lawsuit RCN CORP: Inks MOU to Settle Delaware Suit Over Yankee Merger SOLUTIA INC: Continues to Defend Suit Over Contamination SOLUTIA INC: Plaintiffs Appeal Summary Judgment in ERISA Suit TEMPUR-PEDIC: Plaintiffs' Appeal in "Jacobs" Suit Still Pending U.S. STEEL: Antitrust Suit Over Products Ongoing in Illinois ********* AGL RESOURCES: Ga. Sup. Ct. Upholds Ruling in Overcharging Suit --------------------------------------------------------------- The Georgia Supreme Court has upheld ruling by the Georgia Court of Appeals and remanded a class-action lawsuit against Georgia Natural Gas, which is owned by AGL Resources, Inc., back to the Superior Court of Fulton County, according to the company's April 27, 2010, Form 10-Q filing with the U.S. Securities and Exchange Commission for the quarter ended March 31, 2010. In February 2008, the class-action lawsuit was filed against GNG containing similar allegations to those asserted by the consumer affairs staff of the Georgia Commission. The Georgia Commission staff alleged that GNG charged its customers on variable rate plans prices for natural gas that were in excess of the published price, that it failed to give proper notice regarding the availability of potentially lower price plans and that it changed its methodology for computing variable rates. The action seeks damages on behalf of a class of GNG customers. This lawsuit was dismissed in September 2008. The plaintiffs appealed the dismissal of the lawsuit and, in May 2009, the Georgia Court of Appeals reversed the lower court's order. In June 2009, GNG filed a petition for reconsideration with the Georgia Supreme Court. In October 2009, the Georgia Supreme Court agreed to review the Court of Appeals' decision and held oral arguments in January 2010. In March 2010 the Georgia Supreme Court upheld the Court of Appeals' decision. The case will be remanded back to the Superior Court of Fulton County for further proceedings. GNG asserts that no violation of law or Georgia Commission rules has occurred. Based in Atlanta, Ga., AGL Resources Inc., through its subsidiaries, distributes and markets natural gas to retail and wholesale customers, stores and transports gas, offers asset and risk management services, and operates telecommunications networks. AXIS CAPITAL: Plaintiffs' Appeal on Dismissed Suit Still Pending ---------------------------------------------------------------- The appeal of the plaintiffs on the dismissal of a putative class action lawsuit against AXIS Capital Holdings Limited's U.S. insurance subsidiaries remains pending, according to the company's April 27, 2010, Form 10-Q filing with the U.S. Securities and Exchange Commission for the quarter ended March 31, 2010. In 2005, a putative class action lawsuit was filed against the company's U.S. insurance subsidiaries. The suit is In re Insurance Brokerage Antitrust Litigation and was filed on Aug. 15, 2005, in the U.S. District Court for the District of New Jersey and includes as defendants numerous insurance brokers and insurance companies. The lawsuit alleges antitrust and Racketeer Influenced and Corrupt Organizations Act violations in connection with the payment of contingent commissions and manipulation of insurance bids and seeks damages in an unspecified amount. On Oct. 3, 2006, the District Court granted, in part, motions to dismiss filed by the defendants, and ordered plaintiffs to file supplemental pleadings setting forth sufficient facts to allege their antitrust and RICO claims. After plaintiffs filed their supplemental pleadings, defendants renewed their motions to dismiss. On April 15, 2007, the District Court dismissed without prejudice plaintiffs' complaint, as amended, and granted plaintiffs 30 days to file another amended complaint and/or revised RICO Statement and Statements of Particularity. In May 2007, plaintiffs filed: (i) a Second Consolidated Amended Commercial Class Action complaint, (ii) a Revised Particularized Statement Describing the Horizontal Conspiracies Alleged in the Second Consolidated Amended Commercial Class Action Complaint, and (iii) a Third Amended Commercial Insurance Plaintiffs' RICO Case Statement Pursuant to Local Rule 16.1(B)(4). On June 21, 2007, the defendants filed renewed motions to dismiss. On Sept. 28, 2007, the District Court dismissed with prejudice plaintiffs' antitrust and RICO claims and declined to exercise supplemental jurisdiction over plaintiffs' remaining state law claims. On Oct. 10, 2007, plaintiffs filed a notice of appeal of all adverse orders and decisions to the U.S. Court of Appeals for the Third Circuit, and a hearing was held in April 2009. AXIS Capital Holdings Limited -- http://www.axiscapital.com/-- is a Bermuda-based global provider of specialty lines insurance and treaty reinsurance with shareholders' equity at March 31, 2010 of $5.4 billion and locations in Bermuda, the United States, Europe, Singapore, Canada and Australia. Its operating subsidiaries have been assigned a rating of "A+" ("Strong") by Standard & Poor's and "A" ("Excellent") by A.M. Best. AXIS Capital and AXIS Specialty Finance LLC have been assigned senior unsecured debt ratings of A- (stable) by Standard & Poor's and Baa1 (stable) by Moody's Investors Service. BROADCOM CORP: Awaits Court Approval of Settlement Agreement ------------------------------------------------------------ Broadcom Corp. continues to await the approval of the U.S. District Court for the Central District of California on an agreement settling a consolidated shareholder class action From August through October 2006 several plaintiffs filed purported shareholder class actions against Broadcom and certain of its current or former officers and directors, entitled: -- Bakshi v. Samueli, et al. (Case No. 06-5036 R (CWx)), -- Mills v. Samueli, et al. (Case No. SACV 06-9674 DOC R(CWx)), and -- Minnesota Bakers Union Pension Fund, et al. v. Broadcom Corp., et al. (Case No. SACV 06-970 CJC R (CWx)). The essence of the plaintiffs' allegations is that the company improperly backdated stock options, resulting in false or misleading disclosures concerning, among other things, its business and financial condition. Plaintiffs also allege that the company failed to account for and pay taxes on stock options properly, that the individual defendants sold its common stock while in possession of material nonpublic information, and that the defendants' conduct caused artificial inflation in the company's stock price and damages to the putative plaintiff class. The plaintiffs assert claims under Sections 10(b) and 20(a) of the Exchange Act and Rule 10b-5 promulgated thereunder. In November 2006, the Court consolidated the Stock Option Class Actions and appointed the New Mexico State Investment Council as lead class plaintiff. In October 2007, the federal appeals court resolved a dispute regarding the appointment of lead class counsel. In March 2008, the district judge entered a revised order appointing lead class counsel. The lead plaintiff filed an amended consolidated class action complaint in late April 2008, naming additional defendants including certain current officers and directors of Broadcom as well as Ernst & Young LLP, the company's former independent registered public accounting firm. In October 2008, the district judge granted defendants' motions to dismiss with leave to amend. In October 2008, the lead plaintiff filed an amended complaint. In November 2008, defendants filed motions to dismiss. In February 2009, these motions were denied except with respect to E&Y and the former Chairman of the Audit Committee, which were granted with leave to amend, and with respect to the former Chief Executive Officer, which was granted without leave to amend. The lead plaintiff did not amend its complaint with respect to the former Chairman of the Audit Committee and the time period to do so has expired. With respect to E&Y, in March 2009, the district judge entered a final judgment for E&Y and against the lead plaintiff. The lead plaintiff has appealed the final judgment. In December 2009, the company agreed in principle to settle the Stock Option Class Actions. Under the proposed settlement, the claims against Broadcom and its current and former officers and directors will be dismissed with prejudice and released in exchange for a $160.5 million cash payment by Broadcom. The company recorded the settlement amount as a one-time charge in the company's consolidated statement of income for the three months and year ended Dec. 31, 2009. The proposed settlement remains subject to the satisfaction of various conditions, including negotiation and execution of a final stipulation of settlement and court approval. If these conditions are satisfied, the proposed settlement will resolve all claims in the Stock Option Class Actions against Broadcom and the individual defendants. No further updates were reported in the company's April 27, 2010, Form 10-Q filing with the U.S. Securities and Exchange Commission for the quarter ended March 31, 2010. Broadcom Corporation -- http://www.broadcom.com/-- is a provider of semiconductors for wired and wireless communications. Broadcom provides a portfolio of system-on-a-chip (SoC) solutions to manufacturers of computing and networking equipment and, broadband access products and mobile devices. Its product portfolio includes solutions for the home (Broadband Communications), solutions for the hand (Mobile and Wireless) and solutions for network infrastructure (Enterprise and Networking). In December 2009, the company acquired Dune Networks, a company, which is engaged in the designing of switch fabric solutions for data center networking equipment. CARMAX INC: Units Continue to Face Claims in Consolidated Suit -------------------------------------------------------------- CarMax Auto Superstores California, LLC and CarMax Auto Superstores West Coast, Inc. continue to face the remaining claims in a consolidated lawsuit regarding the sales consultant putative class. On April 2, 2008, Mr. John Fowler filed a putative class-action lawsuit against CarMax Auto Superstores California, LLC and CarMax Auto Superstores West Coast, Inc. in the Superior Court of California, County of Los Angeles. Subsequently, two other lawsuits, "Leena Areso et al. v. CarMax Auto Superstores California, LLC," and "Justin Weaver v. CarMax Auto Superstores California, LLC," were consolidated as part of the Fowler case. The allegations in the consolidated case involve: (1) failure to provide meal and rest breaks or compensation in lieu thereof; (2) failure to pay wages of terminated or resigned employees related to meal and rest breaks and overtime; (3) failure to pay overtime; (4) failure to comply with itemized employee wage statement provisions; and (5) unfair competition. The putative class consists of sales consultants, sales managers, and other hourly employees who worked for the company in California from April 2, 2004, to the present. The lawsuit seeks compensatory and special damages, wages, interest, civil and statutory penalties, restitution, injunctive relief and the recovery of attorneys' fees. On May 12, 2009, the court dismissed all of the class claims with respect to the sales manager putative class. On June 16, 2009, the court dismissed all claims related to the failure to comply with the itemized employee wage statement provisions. The court also granted CarMax's motion for summary adjudication with regard to CarMax's alleged failure to pay overtime to the sales consultant putative class. The plaintiffs have indicated that they will appeal the court's ruling regarding the sales consultant overtime claim. In addition to the plaintiffs' overtime claim, the claims currently remaining in the lawsuit regarding the sales consultant putative class are: (1) failure to provide meal and rest breaks or compensation in lieu thereof; (2) failure to pay wages of terminated or resigned employees related to meal and rest breaks; and (3) unfair competition. On June 16, 2009, the court entered a stay of these claims pending the outcome of a California Supreme Court case involving related legal issues. The lawsuit seeks compensatory and special damages, wages, interest, civil and statutory penalties, restitution, injunctive relief and the recovery of attorneys' fees. No further updates were reported in CarMax, Inc.'s April 27, 2010, Form 10-K filing with the U.S. Securities and Exchange Commission for the fiscal year ended Feb. 28, 2010. CarMax, Inc. -- http://www.carmax.com/-- is a retailer of used cars. Headquartered in Richmond, Va., CarMax currently operates 100 used car superstores in 46 markets. The CarMax consumer offer is structured around four customer benefits: low, no-haggle prices; a broad selection; high quality vehicles; and customer- friendly service. During the fiscal year ended Feb. 28, 2010, the company retailed 357,129 used cars and sold 197,382 wholesale vehicles at our in-store auctions. ENCORE CAPITAL: Parties Order to Brief Issues for Certification --------------------------------------------------------------- The U.S. District Court for the Northern District of Ohio has ordered the parties in a class action counter-claim against Encore Capital Group, Inc.'s subsidiary, Midland Credit Management, Inc., to brief issues relating to whether a statewide class should be certified, according to the company's April 27, 2010, Form 10-Q filing with the U.S. Securities and Exchange Commission for the quarter ended March 31, 2010. In an action captioned Brent v. Midland Credit Management, Inc., et. al, filed on May 19, 2008, in the U.S. District Court for the Northern District of Ohio [Western Division], the plaintiff has filed a class action counter-claim against Midland Credit Management, Inc. and Midland Funding LLC. The complaint alleges that the Midland Defendants' business practices violated consumers' rights under the FDCPA and the Ohio Consumer Sales Practices Act. The plaintiff is seeking actual and statutory damages for the class of Ohio residents, plus attorney's fees and costs of class notice and class administration. On Aug. 11, 2009, the court issued an order partially granting plaintiff's motion for summary judgment and entering findings adverse to the Midland Defendants on certain of plaintiff's claims. The Midland Defendants subsequently moved the court to reconsider the order and were partially successful. However, because the court did not completely reverse the August 11 order, certain portions of the order remain subject to reversal only on appeal. On Feb. 22, 2010, the District Court denied Plaintiff's attempts to enlarge the case to include a national class of consumers, and ordered the parties to brief issues relating to whether a statewide class should be certified. No class has been certified to date. Encore Capital Group, Inc. -- http://www.encorecapitalgroup.com/ -- is a systems-driven purchaser and manager of charged-off consumer receivable portfolios and, through its wholly owned subsidiary Ascension Capital Group, Inc., a provider of bankruptcy services to the finance industry. The company acquires receivable portfolios at deep discounts from their face values using its valuation process that is based upon an analysis of the individual consumer attributes of the underlying accounts. The receivable portfolios it purchases consist primarily of unsecured, charged-off domestic consumer credit card, auto loan deficiency and telecom receivables purchased from national financial institutions, retail credit corporations, telecom companies and resellers of such portfolios. In September 2007, the company exited its healthcare purchasing and internal collection activities, although it receives collections from certain healthcare portfolios that it purchased. ENCORE CAPITAL: Faces Lawsuits Over Claims for FDCPA Violations --------------------------------------------------------------- Encore Capital Group, Inc., continues to face class action lawsuits over claims based on the Fair Debt Collection Practices Act and comparable state statutes. These claims may result in class action lawsuits, which can be material to the company due to the remedies available under these statutes, including punitive damages. A number of cases styled as class actions have been filed against the company. A class has been certified in several of these cases. Several of these cases present novel issues on which there is no legal precedent. No specific details regarding the cases were disclosed by in the company's April 27, 2010, Form 10-Q filing with the U.S. Securities and Exchange Commission for the quarter ended March 31, 2010. Encore Capital Group, Inc. -- http://www.encorecapitalgroup.com/ -- is a systems-driven purchaser and manager of charged-off consumer receivable portfolios and, through its wholly owned subsidiary Ascension Capital Group, Inc., a provider of bankruptcy services to the finance industry. The company acquires receivable portfolios at deep discounts from their face values using its valuation process that is based upon an analysis of the individual consumer attributes of the underlying accounts. The receivable portfolios it purchases consist primarily of unsecured, charged-off domestic consumer credit card, auto loan deficiency and telecom receivables purchased from national financial institutions, retail credit corporations, telecom companies and resellers of such portfolios. In September 2007, the company exited its healthcare purchasing and internal collection activities, although it receives collections from certain healthcare portfolios that it purchased. FIDELITY NATIONAL: Second Circuit Affirms Dismissal of NY Suit -------------------------------------------------------------- The Second Circuit Court of Appeals has affirmed the dismissal of a complaint against Fidelity National Financial, Inc., filed in New York, according to the company's April 26, 2010, Form 10-Q filing with the U.S. Securities and Exchange Commission for the quarter ended March 31, 2010. In February 2008, thirteen putative class actions were commenced against several title insurance companies, including Fidelity National Title Insurance Company, Chicago Title Insurance Company, Security Union Title Insurance Company, Alamo Title Insurance Company, Ticor Title Insurance Company of Florida, Commonwealth Land Title Insurance Company, LandAmerica New Jersey Title Insurance Company (n/k/a Continental Title Insurance Company), Lawyers Title Insurance Corporation, Transnation Title Insurance Company (which has merged into Lawyers Title Insurance Corporation), and Ticor Title Insurance Company. The complaints also name Fidelity National Financial, Inc. as a defendant based on its ownership of the Fidelity Affiliates. The complaints, which are brought on behalf of a putative class of consumers who purchased title insurance in New York, allege that the defendants conspired to inflate rates for title insurance through the Title Insurance Rate Service Association, Inc. (TIRSA), a New York State-approved rate service organization which is also named as a defendant. Each of the complaints asserts a cause of action under the Sherman Act and several of the complaints include claims under the Real Estate Settlement Procedures Act as well as New York State statutory and common law claims. The complaints seek monetary damages, including treble damages, as well as injunctive relief. Subsequently, similar complaints were filed in many federal courts. A motion was filed before the Multidistrict Litigation Panel to consolidate and/or coordinate these actions in the U.S. District Court in the Southern District of New York. However, that motion was denied. Where there are multiple cases in one state they have been consolidated before one district court judge in each state and scheduled for the filing of consolidated complaints and motion practice. In 2009, the complaints filed in New York were dismissed with prejudice, but the plaintiffs have appealed. On Feb. 11, 2010, the Second Circuit Court of Appeals in a summary opinion affirmed the dismissal of the complaint in so far as it alleged antitrust violations. A count of the complaint alleging RESPA violations remains. Fidelity National Financial, Inc. -- http://www.fnf.com/-- provides title insurance, mortgage services, specialty insurance, claims management services and information services. FNF is the nation's largest title insurance company through its title insurance underwriters - Fidelity National Title, Chicago Title, Commonwealth Land Title, Lawyers Title, Ticor Title, Security Union Title and Alamo Title - that collectively issue more title insurance policies than any other title company in the United States. FNF also provides flood insurance, personal lines insurance and home warranty insurance through its specialty insurance business. FNF also is a leading provider of outsourced claims management services to large corporate and public sector entities through its minority-owned subsidiary, Sedgwick CMS. FNF is also a leading information services company in the human resource, retail and transportation markets through another minority-owned subsidiary, Ceridian Corporation. FIDELITY NATIONAL: Fifth Circuit Affirms Dismissal of Texas Suit ---------------------------------------------------------------- The Fifth Circuit Court of Appeals has affirmed the dismissal of a complaint against Fidelity National Financial, Inc., filed in Texas, according to the company's April 26, 2010, Form 10-Q filing with the U.S. Securities and Exchange Commission for the quarter ended March 31, 2010. In February 2008, thirteen putative class actions were commenced against several title insurance companies, including Fidelity National Title Insurance Company, Chicago Title Insurance Company, Security Union Title Insurance Company, Alamo Title Insurance Company, Ticor Title Insurance Company of Florida, Commonwealth Land Title Insurance Company, LandAmerica New Jersey Title Insurance Company (n/k/a Continental Title Insurance Company), Lawyers Title Insurance Corporation, Transnation Title Insurance Company (which has merged into Lawyers Title Insurance Corporation), and Ticor Title Insurance Company. The complaints also name Fidelity National Financial, Inc. as a defendant based on its ownership of the Fidelity Affiliates. The complaints, which are brought on behalf of a putative class of consumers who purchased title insurance in New York, allege that the defendants conspired to inflate rates for title insurance through the Title Insurance Rate Service Association, Inc. (TIRSA), a New York State-approved rate service organization which is also named as a defendant. Each of the complaints asserts a cause of action under the Sherman Act and several of the complaints include claims under the Real Estate Settlement Procedures Act as well as New York State statutory and common law claims. The complaints seek monetary damages, including treble damages, as well as injunctive relief. Subsequently, similar complaints were filed in many federal courts. A motion was filed before the Multidistrict Litigation Panel to consolidate and/or coordinate these actions in the U.S. District Court in the Southern District of New York. However, that motion was denied. Where there are multiple cases in one state they have been consolidated before one district court judge in each state and scheduled for the filing of consolidated complaints and motion practice. In 2009, the complaints filed in Texas were dismissed with prejudice, but the plaintiffs have appealed. On March 30, 2010, the Fifth Circuit Court of Appeals affirmed the dismissal of the Texas complaint. Fidelity National Financial, Inc. -- http://www.fnf.com/-- provides title insurance, mortgage services, specialty insurance, claims management services and information services. FNF is the nation's largest title insurance company through its title insurance underwriters - Fidelity National Title, Chicago Title, Commonwealth Land Title, Lawyers Title, Ticor Title, Security Union Title and Alamo Title - that collectively issue more title insurance policies than any other title company in the United States. FNF also provides flood insurance, personal lines insurance and home warranty insurance through its specialty insurance business. FNF also is a leading provider of outsourced claims management services to large corporate and public sector entities through its minority-owned subsidiary, Sedgwick CMS. FNF is also a leading information services company in the human resource, retail and transportation markets through another minority-owned subsidiary, Ceridian Corporation. FIDELITY NATIONAL: Arkansas and Washington Complaints Dismissed --------------------------------------------------------------- Putative class actions against Fidelity National Financial, Inc., filed in Arkansas and Washington have been dismissed, according to the company's April 26, 2010, Form 10-Q filing with the U.S. Securities and Exchange Commission for the quarter ended March 31, 2010. In February 2008, thirteen putative class actions were commenced against several title insurance companies, including Fidelity National Title Insurance Company, Chicago Title Insurance Company, Security Union Title Insurance Company, Alamo Title Insurance Company, Ticor Title Insurance Company of Florida, Commonwealth Land Title Insurance Company, LandAmerica New Jersey Title Insurance Company (n/k/a Continental Title Insurance Company), Lawyers Title Insurance Corporation, Transnation Title Insurance Company (which has merged into Lawyers Title Insurance Corporation), and Ticor Title Insurance Company. The complaints also name Fidelity National Financial, Inc. as a defendant based on its ownership of the Fidelity Affiliates. The complaints, which are brought on behalf of a putative class of consumers who purchased title insurance in New York, allege that the defendants conspired to inflate rates for title insurance through the Title Insurance Rate Service Association, Inc. (TIRSA), a New York State-approved rate service organization which is also named as a defendant. Each of the complaints asserts a cause of action under the Sherman Act and several of the complaints include claims under the Real Estate Settlement Procedures Act as well as New York State statutory and common law claims. The complaints seek monetary damages, including treble damages, as well as injunctive relief. Subsequently, similar complaints were filed in many federal courts. A motion was filed before the Multidistrict Litigation Panel to consolidate and/or coordinate these actions in the U.S. District Court in the Southern District of New York. However, that motion was denied. Where there are multiple cases in one state they have been consolidated before one district court judge in each state and scheduled for the filing of consolidated complaints and motion practice. The complaints in Arkansas and Washington were dismissed with leave to amend, but the plaintiffs have not amended. Fidelity National Financial, Inc. -- http://www.fnf.com/-- provides title insurance, mortgage services, specialty insurance, claims management services and information services. FNF is the nation's largest title insurance company through its title insurance underwriters - Fidelity National Title, Chicago Title, Commonwealth Land Title, Lawyers Title, Ticor Title, Security Union Title and Alamo Title - that collectively issue more title insurance policies than any other title company in the United States. FNF also provides flood insurance, personal lines insurance and home warranty insurance through its specialty insurance business. FNF also is a leading provider of outsourced claims management services to large corporate and public sector entities through its minority-owned subsidiary, Sedgwick CMS. FNF is also a leading information services company in the human resource, retail and transportation markets through another minority-owned subsidiary, Ceridian Corporation. FIDELITY NATIONAL: Appeals Denial of California Suit Dismissal -------------------------------------------------------------- The appeal of Fidelity National Financial, Inc., on the denial of the motion to dismiss an amended complaint filed in California remains pending in the Ninth Circuit Court of Appeals, according to the company's April 26, 2010, Form 10-Q filing with the U.S. Securities and Exchange Commission for the quarter ended March 31, 2010. In February 2008, thirteen putative class actions were commenced against several title insurance companies, including Fidelity National Title Insurance Company, Chicago Title Insurance Company, Security Union Title Insurance Company, Alamo Title Insurance Company, Ticor Title Insurance Company of Florida, Commonwealth Land Title Insurance Company, LandAmerica New Jersey Title Insurance Company (n/k/a Continental Title Insurance Company), Lawyers Title Insurance Corporation, Transnation Title Insurance Company (which has merged into Lawyers Title Insurance Corporation), and Ticor Title Insurance Company. The complaints also name Fidelity National Financial, Inc. as a defendant based on its ownership of the Fidelity Affiliates. The complaints, which are brought on behalf of a putative class of consumers who purchased title insurance in New York, allege that the defendants conspired to inflate rates for title insurance through the Title Insurance Rate Service Association, Inc. (TIRSA), a New York State-approved rate service organization which is also named as a defendant. Each of the complaints asserts a cause of action under the Sherman Act and several of the complaints include claims under the Real Estate Settlement Procedures Act as well as New York State statutory and common law claims. The complaints seek monetary damages, including treble damages, as well as injunctive relief. Subsequently, similar complaints were filed in many federal courts. A motion was filed before the Multidistrict Litigation Panel to consolidate and/or coordinate these actions in the U.S. District Court in the Southern District of New York. However, that motion was denied. Where there are multiple cases in one state they have been consolidated before one district court judge in each state and scheduled for the filing of consolidated complaints and motion practice. The complaint in California was dismissed with leave to amend, the plaintiffs have amended, and the companies have moved to dismiss the amended complaint and the court denied the motion. The companies moved to appeal from the interlocutory denial of the motion to dismiss and the motion was granted by the District Court. The companies have filed a petition in the Ninth Circuit Court of Appeal for review of the interlocutory order. Fidelity National Financial, Inc. -- http://www.fnf.com/-- provides title insurance, mortgage services, specialty insurance, claims management services and information services. FNF is the nation's largest title insurance company through its title insurance underwriters - Fidelity National Title, Chicago Title, Commonwealth Land Title, Lawyers Title, Ticor Title, Security Union Title and Alamo Title - that collectively issue more title insurance policies than any other title company in the United States. FNF also provides flood insurance, personal lines insurance and home warranty insurance through its specialty insurance business. FNF also is a leading provider of outsourced claims management services to large corporate and public sector entities through its minority-owned subsidiary, Sedgwick CMS. FNF is also a leading information services company in the human resource, retail and transportation markets through another minority-owned subsidiary, Ceridian Corporation. FIDELITY NATIONAL: Motion to Dismiss Delaware Complaint Pending --------------------------------------------------------------- Fidelity National Financial, Inc.'s motion to dismiss an amended complaint filed in Delaware remains pending, according to the company's April 26, 2010, Form 10-Q filing with the U.S. Securities and Exchange Commission for the quarter ended March 31, 2010. In February 2008, thirteen putative class actions were commenced against several title insurance companies, including Fidelity National Title Insurance Company, Chicago Title Insurance Company, Security Union Title Insurance Company, Alamo Title Insurance Company, Ticor Title Insurance Company of Florida, Commonwealth Land Title Insurance Company, LandAmerica New Jersey Title Insurance Company (n/k/a Continental Title Insurance Company), Lawyers Title Insurance Corporation, Transnation Title Insurance Company (which has merged into Lawyers Title Insurance Corporation), and Ticor Title Insurance Company. The complaints also name Fidelity National Financial, Inc. as a defendant based on its ownership of the Fidelity Affiliates. The complaints, which are brought on behalf of a putative class of consumers who purchased title insurance in New York, allege that the defendants conspired to inflate rates for title insurance through the Title Insurance Rate Service Association, Inc. (TIRSA), a New York State-approved rate service organization which is also named as a defendant. Each of the complaints asserts a cause of action under the Sherman Act and several of the complaints include claims under the Real Estate Settlement Procedures Act as well as New York State statutory and common law claims. The complaints seek monetary damages, including treble damages, as well as injunctive relief. Subsequently, similar complaints were filed in many federal courts. A motion was filed before the Multidistrict Litigation Panel to consolidate and/or coordinate these actions in the U.S. District Court in the Southern District of New York. However, that motion was denied. Where there are multiple cases in one state they have been consolidated before one district court judge in each state and scheduled for the filing of consolidated complaints and motion practice. The complaint in Delaware was dismissed, but the plaintiffs were permitted to amend to state a claim for injunctive relief. The plaintiffs amended, and the defendants have moved to dismiss the amended complaint. Fidelity National Financial, Inc. -- http://www.fnf.com/-- provides title insurance, mortgage services, specialty insurance, claims management services and information services. FNF is the nation's largest title insurance company through its title insurance underwriters - Fidelity National Title, Chicago Title, Commonwealth Land Title, Lawyers Title, Ticor Title, Security Union Title and Alamo Title - that collectively issue more title insurance policies than any other title company in the United States. FNF also provides flood insurance, personal lines insurance and home warranty insurance through its specialty insurance business. FNF also is a leading provider of outsourced claims management services to large corporate and public sector entities through its minority-owned subsidiary, Sedgwick CMS. FNF is also a leading information services company in the human resource, retail and transportation markets through another minority-owned subsidiary, Ceridian Corporation. FIDELITY NATIONAL: Summary Judgment Motion in Penn. Suit Pending ---------------------------------------------------------------- Fidelity National Financial, Inc., has filed a motion for summary judgment in a complaint pending in Pennsylvania, filed in Delaware has been dismissed, according to the company's April 26, 2010, Form 10-Q filing with the U.S. Securities and Exchange Commission for the quarter ended March 31, 2010. In February 2008, thirteen putative class actions were commenced against several title insurance companies, including Fidelity National Title Insurance Company, Chicago Title Insurance Company, Security Union Title Insurance Company, Alamo Title Insurance Company, Ticor Title Insurance Company of Florida, Commonwealth Land Title Insurance Company, LandAmerica New Jersey Title Insurance Company (n/k/a Continental Title Insurance Company), Lawyers Title Insurance Corporation, Transnation Title Insurance Company (which has merged into Lawyers Title Insurance Corporation), and Ticor Title Insurance Company. The complaints also name Fidelity National Financial, Inc. as a defendant based on its ownership of the Fidelity Affiliates. The complaints, which are brought on behalf of a putative class of consumers who purchased title insurance in New York, allege that the defendants conspired to inflate rates for title insurance through the Title Insurance Rate Service Association, Inc. (TIRSA), a New York State-approved rate service organization which is also named as a defendant. Each of the complaints asserts a cause of action under the Sherman Act and several of the complaints include claims under the Real Estate Settlement Procedures Act as well as New York State statutory and common law claims. The complaints seek monetary damages, including treble damages, as well as injunctive relief. Subsequently, similar complaints were filed in many federal courts. A motion was filed before the Multidistrict Litigation Panel to consolidate and/or coordinate these actions in the U.S. District Court in the Southern District of New York. However, that motion was denied. Where there are multiple cases in one state they have been consolidated before one district court judge in each state and scheduled for the filing of consolidated complaints and motion practice. The damage claims in the Pennsylvania cases were dismissed, but the plaintiffs were permitted to pursue injunctive relief. The plaintiffs were permitted limited discovery. The defendants filed a motion for summary judgment on March 22, 2010. Fidelity National Financial, Inc. -- http://www.fnf.com/-- provides title insurance, mortgage services, specialty insurance, claims management services and information services. FNF is the nation's largest title insurance company through its title insurance underwriters - Fidelity National Title, Chicago Title, Commonwealth Land Title, Lawyers Title, Ticor Title, Security Union Title and Alamo Title - that collectively issue more title insurance policies than any other title company in the United States. FNF also provides flood insurance, personal lines insurance and home warranty insurance through its specialty insurance business. FNF also is a leading provider of outsourced claims management services to large corporate and public sector entities through its minority-owned subsidiary, Sedgwick CMS. FNF is also a leading information services company in the human resource, retail and transportation markets through another minority-owned subsidiary, Ceridian Corporation. FIDELITY NATIONAL: Ohio Lawsuit Over Title Insurance Dismissed -------------------------------------------------------------- A putative class action against Fidelity National Financial, Inc., filed in Ohio has been dismissed, according to the company's April 26, 2010, Form 10-Q filing with the U.S. Securities and Exchange Commission for the quarter ended March 31, 2010. In February 2008, thirteen putative class actions were commenced against several title insurance companies, including Fidelity National Title Insurance Company, Chicago Title Insurance Company, Security Union Title Insurance Company, Alamo Title Insurance Company, Ticor Title Insurance Company of Florida, Commonwealth Land Title Insurance Company, LandAmerica New Jersey Title Insurance Company (n/k/a Continental Title Insurance Company), Lawyers Title Insurance Corporation, Transnation Title Insurance Company (which has merged into Lawyers Title Insurance Corporation), and Ticor Title Insurance Company. The complaints also name Fidelity National Financial, Inc. as a defendant based on its ownership of the Fidelity Affiliates. The complaints, which are brought on behalf of a putative class of consumers who purchased title insurance in New York, allege that the defendants conspired to inflate rates for title insurance through the Title Insurance Rate Service Association, Inc. (TIRSA), a New York State-approved rate service organization which is also named as a defendant. Each of the complaints asserts a cause of action under the Sherman Act and several of the complaints include claims under the Real Estate Settlement Procedures Act as well as New York State statutory and common law claims. The complaints seek monetary damages, including treble damages, as well as injunctive relief. Subsequently, similar complaints were filed in many federal courts. A motion was filed before the Multidistrict Litigation Panel to consolidate and/or coordinate these actions in the U.S. District Court in the Southern District of New York. However, that motion was denied. Where there are multiple cases in one state they have been consolidated before one district court judge in each state and scheduled for the filing of consolidated complaints and motion practice. The Ohio complaint was dismissed on March 31, 2010. Fidelity National Financial, Inc. -- http://www.fnf.com/-- provides title insurance, mortgage services, specialty insurance, claims management services and information services. FNF is the nation's largest title insurance company through its title insurance underwriters - Fidelity National Title, Chicago Title, Commonwealth Land Title, Lawyers Title, Ticor Title, Security Union Title and Alamo Title - that collectively issue more title insurance policies than any other title company in the United States. FNF also provides flood insurance, personal lines insurance and home warranty insurance through its specialty insurance business. FNF also is a leading provider of outsourced claims management services to large corporate and public sector entities through its minority-owned subsidiary, Sedgwick CMS. FNF is also a leading information services company in the human resource, retail and transportation markets through another minority-owned subsidiary, Ceridian Corporation. FIDELITY NATIONAL: Motion to Dismiss Amended NJ Suit Pending ------------------------------------------------------------ Fidelity National Financial, Inc.'s motion to dismiss an amended class action filed in New Jersey remains pending, according to the company's April 26, 2010, Form 10-Q filing with the U.S. Securities and Exchange Commission for the quarter ended March 31, 2010. In February 2008, thirteen putative class actions were commenced against several title insurance companies, including Fidelity National Title Insurance Company, Chicago Title Insurance Company, Security Union Title Insurance Company, Alamo Title Insurance Company, Ticor Title Insurance Company of Florida, Commonwealth Land Title Insurance Company, LandAmerica New Jersey Title Insurance Company (n/k/a Continental Title Insurance Company), Lawyers Title Insurance Corporation, Transnation Title Insurance Company (which has merged into Lawyers Title Insurance Corporation), and Ticor Title Insurance Company. The complaints also name Fidelity National Financial, Inc. as a defendant based on its ownership of the Fidelity Affiliates. The complaints, which are brought on behalf of a putative class of consumers who purchased title insurance in New York, allege that the defendants conspired to inflate rates for title insurance through the Title Insurance Rate Service Association, Inc. (TIRSA), a New York State-approved rate service organization which is also named as a defendant. Each of the complaints asserts a cause of action under the Sherman Act and several of the complaints include claims under the Real Estate Settlement Procedures Act as well as New York State statutory and common law claims. The complaints seek monetary damages, including treble damages, as well as injunctive relief. Subsequently, similar complaints were filed in many federal courts. A motion was filed before the Multidistrict Litigation Panel to consolidate and/or coordinate these actions in the U.S. District Court in the Southern District of New York. However, that motion was denied. Where there are multiple cases in one state they have been consolidated before one district court judge in each state and scheduled for the filing of consolidated complaints and motion practice. In New Jersey, the company's motion to dismiss the amended complaint remains under submission. Fidelity National Financial, Inc. -- http://www.fnf.com/-- provides title insurance, mortgage services, specialty insurance, claims management services and information services. FNF is the nation's largest title insurance company through its title insurance underwriters - Fidelity National Title, Chicago Title, Commonwealth Land Title, Lawyers Title, Ticor Title, Security Union Title and Alamo Title - that collectively issue more title insurance policies than any other title company in the United States. FNF also provides flood insurance, personal lines insurance and home warranty insurance through its specialty insurance business. FNF also is a leading provider of outsourced claims management services to large corporate and public sector entities through its minority-owned subsidiary, Sedgwick CMS. FNF is also a leading information services company in the human resource, retail and transportation markets through another minority-owned subsidiary, Ceridian Corporation. FIDELITY NATIONAL: West Virginia Suit Remains in Inactive Status ---------------------------------------------------------------- A putative class action against Fidelity National Financial, Inc., filed in West Virginia remains inactive, according to the company's April 26, 2010, Form 10-Q filing with the U.S. Securities and Exchange Commission for the quarter ended March 31, 2010. In February 2008, thirteen putative class actions were commenced against several title insurance companies, including Fidelity National Title Insurance Company, Chicago Title Insurance Company, Security Union Title Insurance Company, Alamo Title Insurance Company, Ticor Title Insurance Company of Florida, Commonwealth Land Title Insurance Company, LandAmerica New Jersey Title Insurance Company (n/k/a Continental Title Insurance Company), Lawyers Title Insurance Corporation, Transnation Title Insurance Company (which has merged into Lawyers Title Insurance Corporation), and Ticor Title Insurance Company. The complaints also name Fidelity National Financial, Inc. as a defendant based on its ownership of the Fidelity Affiliates. The complaints, which are brought on behalf of a putative class of consumers who purchased title insurance in New York, allege that the defendants conspired to inflate rates for title insurance through the Title Insurance Rate Service Association, Inc. (TIRSA), a New York State-approved rate service organization which is also named as a defendant. Each of the complaints asserts a cause of action under the Sherman Act and several of the complaints include claims under the Real Estate Settlement Procedures Act as well as New York State statutory and common law claims. The complaints seek monetary damages, including treble damages, as well as injunctive relief. Subsequently, similar complaints were filed in many federal courts. A motion was filed before the Multidistrict Litigation Panel to consolidate and/or coordinate these actions in the U.S. District Court in the Southern District of New York. However, that motion was denied. Where there are multiple cases in one state they have been consolidated before one district court judge in each state and scheduled for the filing of consolidated complaints and motion practice. In West Virginia, the case has been placed on the inactive list pending the resolution of the LandAmerica bankruptcy. Fidelity National Financial, Inc. -- http://www.fnf.com/-- provides title insurance, mortgage services, specialty insurance, claims management services and information services. FNF is the nation's largest title insurance company through its title insurance underwriters - Fidelity National Title, Chicago Title, Commonwealth Land Title, Lawyers Title, Ticor Title, Security Union Title and Alamo Title - that collectively issue more title insurance policies than any other title company in the United States. FNF also provides flood insurance, personal lines insurance and home warranty insurance through its specialty insurance business. FNF also is a leading provider of outsourced claims management services to large corporate and public sector entities through its minority-owned subsidiary, Sedgwick CMS. FNF is also a leading information services company in the human resource, retail and transportation markets through another minority-owned subsidiary, Ceridian Corporation. FIDELITY NATIONAL: Florida & Mass. Suits Voluntarily Dismissed -------------------------------------------------------------- Putative class action complaints against Fidelity National Financial, Inc., filed in Florida and Massachusetts have been voluntarily dismissed, according to the company's April 26, 2010, Form 10-Q filing with the U.S. Securities and Exchange Commission for the quarter ended March 31, 2010. In February 2008, thirteen putative class actions were commenced against several title insurance companies, including Fidelity National Title Insurance Company, Chicago Title Insurance Company, Security Union Title Insurance Company, Alamo Title Insurance Company, Ticor Title Insurance Company of Florida, Commonwealth Land Title Insurance Company, LandAmerica New Jersey Title Insurance Company (n/k/a Continental Title Insurance Company), Lawyers Title Insurance Corporation, Transnation Title Insurance Company (which has merged into Lawyers Title Insurance Corporation), and Ticor Title Insurance Company. The complaints also name Fidelity National Financial, Inc. as a defendant based on its ownership of the Fidelity Affiliates. The complaints, which are brought on behalf of a putative class of consumers who purchased title insurance in New York, allege that the defendants conspired to inflate rates for title insurance through the Title Insurance Rate Service Association, Inc. (TIRSA), a New York State-approved rate service organization which is also named as a defendant. Each of the complaints asserts a cause of action under the Sherman Act and several of the complaints include claims under the Real Estate Settlement Procedures Act as well as New York State statutory and common law claims. The complaints seek monetary damages, including treble damages, as well as injunctive relief. Subsequently, similar complaints were filed in many federal courts. A motion was filed before the Multidistrict Litigation Panel to consolidate and/or coordinate these actions in the U.S. District Court in the Southern District of New York. However, that motion was denied. Where there are multiple cases in one state they have been consolidated before one district court judge in each state and scheduled for the filing of consolidated complaints and motion practice. The complaints filed in Florida and Massachusetts were all voluntarily dismissed. Fidelity National Financial, Inc. -- http://www.fnf.com/-- provides title insurance, mortgage services, specialty insurance, claims management services and information services. FNF is the nation's largest title insurance company through its title insurance underwriters - Fidelity National Title, Chicago Title, Commonwealth Land Title, Lawyers Title, Ticor Title, Security Union Title and Alamo Title - that collectively issue more title insurance policies than any other title company in the United States. FNF also provides flood insurance, personal lines insurance and home warranty insurance through its specialty insurance business. FNF also is a leading provider of outsourced claims management services to large corporate and public sector entities through its minority-owned subsidiary, Sedgwick CMS. FNF is also a leading information services company in the human resource, retail and transportation markets through another minority-owned subsidiary, Ceridian Corporation. FIDELITY NATIONAL: Affiliates Still Defendants in Complaint ----------------------------------------------------------- Fidelity National Financial, Inc.'s affiliates remain a defendant in a fifth amended third party complaint over the matter In Re Ameriquest Mortgage Lending Practices Litigation, according to the company's April 26, 2010, Form 10-Q filing with the U.S. Securities and Exchange Commission for the quarter ended March 31, 2010. On Sept. 24, 2007, a third party complaint was filed in the In Re Ameriquest Mortgage Lending Practices Litigation in the U.S. District Court for the Northern District of Illinois by Ameriquest Mortgage Company and Argent Mortgage Company against numerous title insurers and agents, including Chicago Title Company, Fidelity National Title Company, Fidelity National Title Insurance Company, American Pioneer Title Insurance Company (n/k/a Ticor Title Insurance Company of Florida), Chicago Title of Michigan, Fidelity National Title Insurance Company of New York, Transnation Title Insurance Company (n/k/a Lawyers Title Insurance Corporation), Commonwealth Land Title Insurance Company, Commonwealth Land Title Company, Lawyers Title Insurance Corporation, Chicago Title Insurance Company, Alamo Title Company, and Ticor Title Insurance Company. The third party complaint alleges that Ameriquest and Argent have been sued by a class of borrowers (and by numerous persons who have preemptively opted out of any class that may be certified) alleging that the two lenders violated the Truth in Lending Act by failing to comply with the notice of right to cancel provisions and making misrepresentations in lending to the borrowers, who now seek money damages. In the third party complaint, Ameriquest and Argent each alleges that the FNF Affiliates contracted and warranted to close these loans in conformity with the lender's instructions which correctly followed the requirements of TILA and contained no misrepresentations; therefore, if Ameriquest and Argent are liable to the class or to the opt-out plaintiffs, then the FNF Affiliates are liable to them for failing to close the lending transactions as agreed. Ameriquest and Argent seek to recover the cost of resolving the class action and other cases against them including their attorney's fees and costs in the action. The Title Insurer Defendants organized to form a defense group and, as requested by the court, are exploring the possibility of filing a single collective response. The Seventh Circuit, in which circuit these matters are pending, ruled in a separate case that TILA violations as alleged in these complaints could not be the subject of a class action seeking rescission, though the plaintiffs in the case against Ameriquest and Argent have not yet sought class certification and so the court in their case has not yet ruled on the applicability of the Court of Appeals' decision (which, in any event, would not affect the cases of individual plaintiffs). Ameriquest filed its fifth amended third party complaint against the defendants, and the Title Insurer Defendants moved to dismiss. On Jan. 19, 2010, the court granted the motion as to the negligence claims, but denied the motion as to the contract claims and negligent misrepresentation claims. The Title Insurer Defendants will answer the Fifth Amended complaint. Fidelity National Financial, Inc. -- http://www.fnf.com/-- provides title insurance, mortgage services, specialty insurance, claims management services and information services. FNF is the nation's largest title insurance company through its title insurance underwriters - Fidelity National Title, Chicago Title, Commonwealth Land Title, Lawyers Title, Ticor Title, Security Union Title and Alamo Title - that collectively issue more title insurance policies than any other title company in the United States. FNF also provides flood insurance, personal lines insurance and home warranty insurance through its specialty insurance business. FNF also is a leading provider of outsourced claims management services to large corporate and public sector entities through its minority-owned subsidiary, Sedgwick CMS. FNF is also a leading information services company in the human resource, retail and transportation markets through another minority-owned subsidiary, Ceridian Corporation. FIDELITY NATIONAL: Defends "Recording Fees" Suit in Missouri ------------------------------------------------------------ Fidelity National Financial, Inc., continues to defend a class action in Missouri relating to its alleged overcharges for government recording fees, according to the company's April 26, 2010, Form 10-Q filing with the U.S. Securities and Exchange Commission for the quarter ended March 31, 2010. There are class actions pending against Fidelity National Financial, Inc., Fidelity National Title Group and several title insurance companies, including Fidelity National Title Insurance Company, Chicago Title Insurance Company, Lawyers Title Insurance Corporation, Transnation Title Insurance Company (which has merged into Lawyers Title Insurance Corporation), United Title Company, Inc., and Ticor Title Insurance Company, alleging overcharges for government recording fees. These cases allege that the named defendant companies charged fees in excess of the fees charged by government entities in closing transactions and charged for documents releasing encumbrances that were never recorded by the company. These suits seek various remedies including compensatory damages, prejudgment interest, punitive damages and attorney's fees. One case filed in Missouri in the summer of 2008 but removed to the Federal District Court in Missouri, seeks to certify a national class against Chicago Title Insurance Company. Although the Federal District Court in Kansas refused to certify a national class previously filed by the same plaintiff's attorneys, this suit seeks to overcome that Court's objections to certification. In September 2009, the company filed a motion to deny class certification. And, although similar cases filed in Indiana were decertified by the appellate court and trial court, the Missouri courts have refused to decertify a case now pending, which has been assigned to a judge. Fidelity National Financial, Inc. -- http://www.fnf.com/-- provides title insurance, mortgage services, specialty insurance, claims management services and information services. FNF is the nation's largest title insurance company through its title insurance underwriters - Fidelity National Title, Chicago Title, Commonwealth Land Title, Lawyers Title, Ticor Title, Security Union Title and Alamo Title - that collectively issue more title insurance policies than any other title company in the United States. FNF also provides flood insurance, personal lines insurance and home warranty insurance through its specialty insurance business. FNF also is a leading provider of outsourced claims management services to large corporate and public sector entities through its minority-owned subsidiary, Sedgwick CMS. FNF is also a leading information services company in the human resource, retail and transportation markets through another minority-owned subsidiary, Ceridian Corporation. FIDELITY NATIONAL: Defends "Recording Fees" Suit in New Jersey -------------------------------------------------------------- Fidelity National Financial, Inc., continues to defend a class action in connection with its alleged overcharging for government recording fees in New Jersey. There are class actions pending against Fidelity National Financial, Inc., Fidelity National Title Group and several title insurance companies, including Fidelity National Title Insurance Company, Chicago Title Insurance Company, Lawyers Title Insurance Corporation, Transnation Title Insurance Company (which has merged into Lawyers Title Insurance Corporation), United Title Company, Inc., and Ticor Title Insurance Company, alleging overcharges for government recording fees. These cases allege that the named defendant companies charged fees in excess of the fees charged by government entities in closing transactions and charged for documents releasing encumbrances that were never recorded by the company. These suits seek various remedies including compensatory damages, prejudgment interest, punitive damages and attorney's fees. On Jan. 26, 2009, a recording fee class action was filed in New Jersey. No further updates were reported in the company's April 26, 2010, Form 10-Q filing with the U.S. Securities and Exchange Commission for the quarter ended March 31, 2010. Fidelity National Financial, Inc. -- http://www.fnf.com/-- provides title insurance, mortgage services, specialty insurance, claims management services and information services. FNF is the nation's largest title insurance company through its title insurance underwriters - Fidelity National Title, Chicago Title, Commonwealth Land Title, Lawyers Title, Ticor Title, Security Union Title and Alamo Title - that collectively issue more title insurance policies than any other title company in the United States. FNF also provides flood insurance, personal lines insurance and home warranty insurance through its specialty insurance business. FNF also is a leading provider of outsourced claims management services to large corporate and public sector entities through its minority-owned subsidiary, Sedgwick CMS. FNF is also a leading information services company in the human resource, retail and transportation markets through another minority-owned subsidiary, Ceridian Corporation. FIDELITY NATIONAL: Fifth Circuit Affirms Summary Judgment Ruling ---------------------------------------------------------------- The Fifth Circuit Court of Appeals affirmed the ruling granting Fidelity National Financial, Inc.'s motion for summary judgment in a class action filed in Texas, according to the company's April 26, 2010, Form 10-Q filing with the U.S. Securities and Exchange Commission for the quarter ended March 31, 2010. There are class actions pending against Fidelity National Financial, Inc., Fidelity National Title Group and several title insurance companies, including Fidelity National Title Insurance Company, Chicago Title Insurance Company, Lawyers Title Insurance Corporation, Transnation Title Insurance Company (which has merged into Lawyers Title Insurance Corporation), United Title Company, Inc., and Ticor Title Insurance Company, alleging overcharges for government recording fees. These cases allege that the named defendant companies charged fees in excess of the fees charged by government entities in closing transactions and charged for documents releasing encumbrances that were never recorded by the company. These suits seek various remedies including compensatory damages, prejudgment interest, punitive damages and attorney's fees. On Jan. 30, 2009, the court granted the named defendants' motion for summary judgment in the recording fee class action in the Federal District Court in Texas, which alleged recording fee overcharges in five states. The plaintiff has appealed this decision and oral argument was heard in the Fifth Circuit Court of Appeals on Nov. 2, 2009. On Jan. 15, 2010, the Fifth Circuit Court of Appeals affirmed the Federal District Court's decision to grant the named defendants' motion for summary judgment. Fidelity National Financial, Inc. -- http://www.fnf.com/-- provides title insurance, mortgage services, specialty insurance, claims management services and information services. FNF is the nation's largest title insurance company through its title insurance underwriters - Fidelity National Title, Chicago Title, Commonwealth Land Title, Lawyers Title, Ticor Title, Security Union Title and Alamo Title - that collectively issue more title insurance policies than any other title company in the United States. FNF also provides flood insurance, personal lines insurance and home warranty insurance through its specialty insurance business. FNF also is a leading provider of outsourced claims management services to large corporate and public sector entities through its minority-owned subsidiary, Sedgwick CMS. FNF is also a leading information services company in the human resource, retail and transportation markets through another minority-owned subsidiary, Ceridian Corporation. FIDELITY NATIONAL: Summary Judgment Pending in "Escrow Fee" Suit ---------------------------------------------------------------- Fidelity National Financial, Inc.'s motion for summary judgment in a class action over its alleged "escrow fee," remains pending, according to the company's April 26, 2010, Form 10-Q filing with the U.S. Securities and Exchange Commission for the quarter ended March 31, 2010. There are class actions pending against Fidelity National Title Company, Fidelity National Title Company of Washington, Inc., and Chicago Title Insurance Company, alleging that the named defendants in each case charged unnecessary reconveyance fees without performing any separate service for those fees which was not already included as a service for the "escrow fee." Additionally, one of the cases alleges that the named defendants wrongfully earned interest or other benefits on escrowed funds from the time funds were deposited into escrow until any disbursement checks cleared the account. Motions for class certification were filed in both of these cases, and the company then moved for summary judgment in both cases and to continue the briefing of the class certification motions until the summary judgment motions were determined. Both courts granted the motions to continue class certification briefing until the summary judgment motions were determined and those motions were fully briefed and submitted. In one of the cases, the court granted summary judgment for the defendants. The other motion for summary judgment remains pending. Fidelity National Financial, Inc. -- http://www.fnf.com/-- provides title insurance, mortgage services, specialty insurance, claims management services and information services. FNF is the nation's largest title insurance company through its title insurance underwriters - Fidelity National Title, Chicago Title, Commonwealth Land Title, Lawyers Title, Ticor Title, Security Union Title and Alamo Title - that collectively issue more title insurance policies than any other title company in the United States. FNF also provides flood insurance, personal lines insurance and home warranty insurance through its specialty insurance business. FNF also is a leading provider of outsourced claims management services to large corporate and public sector entities through its minority-owned subsidiary, Sedgwick CMS. FNF is also a leading information services company in the human resource, retail and transportation markets through another minority-owned subsidiary, Ceridian Corporation. FIDELITY NATIONAL: Continues to Defend Suit it Hawaii ----------------------------------------------------- Fidelity National Financial, Inc., continues to defend a class action alleging it wrongfully released funds from escrow, according to the company's April 26, 2010, Form 10-Q filing with the U.S. Securities and Exchange Commission for the quarter ended March 31, 2010. A class action has been filed in state court in Hawaii against Fidelity National Title and Escrow of Hawaii, Inc., alleging the company wrongfully released funds from escrow thereby engaging in unfair or deceptive trade practices in violation of state statute. The suit seeks damages, treble damages, prejudgment interest, attorney's fees and costs. The company has answered the complaint and are investigating the allegations informally and through discovery. Fidelity National Financial, Inc. -- http://www.fnf.com/-- provides title insurance, mortgage services, specialty insurance, claims management services and information services. FNF is the nation's largest title insurance company through its title insurance underwriters - Fidelity National Title, Chicago Title, Commonwealth Land Title, Lawyers Title, Ticor Title, Security Union Title and Alamo Title - that collectively issue more title insurance policies than any other title company in the United States. FNF also provides flood insurance, personal lines insurance and home warranty insurance through its specialty insurance business. FNF also is a leading provider of outsourced claims management services to large corporate and public sector entities through its minority-owned subsidiary, Sedgwick CMS. FNF is also a leading information services company in the human resource, retail and transportation markets through another minority-owned subsidiary, Ceridian Corporation. FIDELITY NATIONAL: Continues to Defend Amended Suit in Nevada ------------------------------------------------------------- Fidelity National Financial, Inc., continues to defend an amended class action pending in the U.S. District Court for the District of Nevada, according to the company's April 26, 2010, Form 10-Q filing with the U.S. Securities and Exchange Commission for the quarter ended March 31, 2010. A class action filed in District Court in Nevada has been amended to allege a cause of action for breach of fiduciary duty in handling escrows against Commonwealth Land Title Insurance Company and Fidelity National Title Agency of Nevada, Inc. The complaint seeks compensatory and punitive damages and attorney's fees. The company is investigating the allegations and have moved for a more definite statement of the allegations against the company, which was opposed by plaintiffs and is now fully briefed and submitted. Fidelity National Financial, Inc. -- http://www.fnf.com/-- provides title insurance, mortgage services, specialty insurance, claims management services and information services. FNF is the nation's largest title insurance company through its title insurance underwriters - Fidelity National Title, Chicago Title, Commonwealth Land Title, Lawyers Title, Ticor Title, Security Union Title and Alamo Title - that collectively issue more title insurance policies than any other title company in the United States. FNF also provides flood insurance, personal lines insurance and home warranty insurance through its specialty insurance business. FNF also is a leading provider of outsourced claims management services to large corporate and public sector entities through its minority-owned subsidiary, Sedgwick CMS. FNF is also a leading information services company in the human resource, retail and transportation markets through another minority-owned subsidiary, Ceridian Corporation. FIDELITY NATIONAL: Class Certification Granted in Illinois Suit --------------------------------------------------------------- The Illinois District Court of Appeal has issued an order reversing a decision by the lower and directed that class certification be granted in a complaint against Fidelity National Financial, Inc., according to the company's April 26, 2010, Form 10-Q filing with the U.S. Securities and Exchange Commission for the quarter ended March 31, 2010. Two class action complaints are pending in the Illinois state court against Chicago Title Insurance Company, Ticor Title Insurance Company, Chicago Title and Trust Company and Fidelity National Financial, Inc., alleging the companies violated the Illinois Title Insurance Act and the Illinois Consumer Fraud Act and have been unjustly enriched through the practice of paying Illinois attorney's agency fees. The complaints allege the payments are in exchange for the referral of business and the attorneys do not perform any "core title services". The motions to certify the classes were denied on May 26, 2009, but the plaintiffs appealed. The appeal was fully briefed and the court heard oral arguments on Feb. 25, 2010. On April 15, 2010, the Illinois District Court of Appeal issued an order reversing the lower court and directing that class certification be granted. Fidelity National Financial, Inc. -- http://www.fnf.com/-- provides title insurance, mortgage services, specialty insurance, claims management services and information services. FNF is the nation's largest title insurance company through its title insurance underwriters - Fidelity National Title, Chicago Title, Commonwealth Land Title, Lawyers Title, Ticor Title, Security Union Title and Alamo Title - that collectively issue more title insurance policies than any other title company in the United States. FNF also provides flood insurance, personal lines insurance and home warranty insurance through its specialty insurance business. FNF also is a leading provider of outsourced claims management services to large corporate and public sector entities through its minority-owned subsidiary, Sedgwick CMS. FNF is also a leading information services company in the human resource, retail and transportation markets through another minority-owned subsidiary, Ceridian Corporation. FIDELITY NATIONAL: Units Continue to Defend Two Suits in Calif. --------------------------------------------------------------- Fidelity National Financial, Inc.'s subsidiaries continue to defend two putative class actions in California alleging failure to pay overtime, according to the company's April 26, 2010, Form 10-Q filing with the U.S. Securities and Exchange Commission for the quarter ended March 31, 2010. On Dec. 3, 2007, a former title officer in California filed a putative class action suit against Lawyers Title Company, and LandAmerica Financial Group, Inc. The lawsuits were later amended to include Commonwealth Land Title Company and Commonwealth Land Title Insurance Company as defendants in the Superior Court of California for Los Angeles County. A similar putative class action was filed against the Defendants by former escrow officers in California, in the same court on Dec. 12, 2007. The plaintiffs' complaints in both lawsuits allege failure to pay overtime and other related violations of the California Labor Code, as well as unfair business practices under the California Business and Professions Code Section 17200 on behalf of all current and former California title and escrow officers. The underlying basis for both lawsuits is an alleged misclassification of title and escrow officers as "exempt" employees for purposes of the California Labor Code, which resulted in a failure to pay overtime and provide for required meal and rest breaks. Although such employees were reclassified as "non-exempt" beginning on Jan. 1, 2006, the complaints allege similar violations of the California Labor Code even after that date for alleged "off-the-clock" work. The plaintiffs' complaints in both cases demand an unspecified amount of back wages, statutory penalties, declaratory and injunctive relief, punitive damages, interest, and attorneys' fees and costs. The plaintiffs have yet to file a motion for class certification, as the parties have agreed to mediation. A mediation date was scheduled for April 28, 2010. Fidelity National Financial, Inc. -- http://www.fnf.com/-- provides title insurance, mortgage services, specialty insurance, claims management services and information services. FNF is the nation's largest title insurance company through its title insurance underwriters - Fidelity National Title, Chicago Title, Commonwealth Land Title, Lawyers Title, Ticor Title, Security Union Title and Alamo Title - that collectively issue more title insurance policies than any other title company in the United States. FNF also provides flood insurance, personal lines insurance and home warranty insurance through its specialty insurance business. FNF also is a leading provider of outsourced claims management services to large corporate and public sector entities through its minority-owned subsidiary, Sedgwick CMS. FNF is also a leading information services company in the human resource, retail and transportation markets through another minority-owned subsidiary, Ceridian Corporation. GODADDY.COM INC: Sued in Ark. for Unlawfully Using Domain Names --------------------------------------------------------------- Jamie Ross at Courthouse News Service reports that a class action claims GoDaddy.com is advertising on registered domain names without consent of the domain owners. The class claims the "world's largest domain name registrar" is profiting from pay- per-click revenue from ads it placed on class members' domain names. The lawsuit, filed in Phoenix and Arkansas federal courts, claims that Go Daddy is "unlawfully generating and retaining revenue derived from these online advertisements each time an Internet user clicks an online advertisement appearing on plaintiff's domain names." The class claims to have acquired the exclusive use of their purchased domain names when they registered the names through GoDaddy.com and paid the fees. Class representative Matthew McBride says he registered four domain names with GoDaddy, which later placed "advertisements for products or services that they believe are contextually relevant" to the domain names to generate pay-per-click revenue. Mr. McBride says he did not authorize Go Daddy to use his domain names, and the company did not disclose that it would use the domain names for ads to pad its bottom line when he bought the names from it. In pay-per-click advertising, "online advertisers agree to pay a certain price for each click-through on an online advertisement," the complaint states. With each click-through, an online advertiser "pays a fee to a search engine company, such as Google or Yahoo!, in exchange for publishing the advertisement on the website." The class wants Go Daddy enjoined from "converting and using domain names registered by plaintiff and the other members of the class for defendants' own benefit." It also wants Go Daddy enjoined from keeping any pay-per-click revenue from registered domain names, and from posting any ads without the parties' agreement. A copy of the Complaint in McBride, et al. v. GoDaddy.com, Inc., et al., Case No. 10-cv-00940 (W.D. Ark.), is available at: http://www.courthousenews.com/2010/05/03/GoDaddy.pdf The Plaintiffs are represented by: John C. Goodson, Esq. KEIL & GOODSON 611 Pecan St. Texarkana, AR 71854-5337 Telephone: 870-772-4113 - and - James M. Pratt, Jr. 144 Washington N.W. Camden, AR 71701 Telephone: 870-836-7328 - and - Shirley Jones, Esq. WILSON, ENGSTROM, CORUM & COULTER 200 South Commerce, Suite 600 Little Rock, AR 72202 Telephone: 501-375-6453 GOLDMAN SACHS: S.D.N.Y. ABACUS Disclosure Shareholder Suit Filed ---------------------------------------------------------------- Zamansky & Associates LLC -- http://www.zamansky.com/-- and Lovell Stewart Halebian Jacobson LLP -- http://www.lshllp.com/-- filed a class action complaint on April 30, 2010, in the United States District Court for the Southern District of New York on behalf of purchasers of shares of the common stock of Goldman Sachs Group, Inc., between January 2, 2007, and the time it was publicly revealed on April 16, 2010, that the Securities and Exchange Commission had sued Goldman in connection with its misconduct relating to the structuring and sale of ABACUS 2007- AC1, seeking to pursue remedies under the Securities Exchange Act of 1934. The case has been assigned Civil Action No. 10-cv-3616 before the Hon. Barbara Jones. A copy of the Complaint in Afshani v. Goldman Sachs Group, Inc., et al., Case No. 10-cv-0366 (S.D.N.Y.), is available at: http://www.zamansky.com/files/10-04-30-stamped-complaint.pdf If you wish to serve as lead plaintiff, you must move the Court no later than Friday, June 25, 2010. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel: Jacob H. Zamansky, Esq. Edward H. Glenn, Jr., Esq. Kevin D. Galbraith, Esq. ZAMANSKY & ASSOCIATES LLC 50 Broadway, 32nd Floor New York, NY 10004 Telephone: 212-742-1414 E-mail: Jacob@zamansky.com - and - Christopher Lovell, Esq. Victor E. Stewart, Esq. Fred T. Isqueth, Esq. LOVELL STEWART HALEBAIN JACOBSON LLP 61 Broadway, Suite 501 New York, NY 10006 Telephone: 212-608-1900 Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. The complaint alleges that, throughout the Class Period, defendants failed to disclose material adverse facts about the Company's true financial condition, sources of revenues, business and prospects in violation of the Exchange Act. Specifically, the complaint alleges that defendants failed to disclose that: (i) the Company had, in violation of applicable law, not fully disclosed the facts and circumstances concerning the formation and sale of the ABACUS 2007-AC1 deal and other similar CDO deals to investors and as a result had engaged in materially misleading conduct; (ii) the Company had, in fact, bet against its clients and constructed collateralized debt obligations that were likely, if not designed, to fail while at the same time earning substantial revenues from the such conduct; (iii) the Company had received a Wells Notice from the SEC about the ABACUS transaction but failed to inform shareholders of this fact until the SEC brought a lawsuit against the Company alleging fraud based upon the same conduct described in the Wells Notice; and (iv) should the SEC file a formal complaint, as it eventually did, Goldman could potentially suffer material adverse effects to its core business lines and profitability, among other negative and deleterious results. After the market opened on April 16, 2010, it was revealed that Goldman's U.S. broker-dealer, GS&C, had been sued by the SEC "for making materially misleading statements and omissions in connection" with ABACUS 2007-AC1. As news of Goldman's misconduct reached the market, Goldman shares immediately plummeted $24.05 in price, declining from $184.27 per share on April 15, 2010 to close at $160.70 per share on April 16, 2010. Goldman shares fell an additional $15.04 per share on April 30, 2010 to close at $145.20 per share in response to investor concerns about the potential criminality of Goldman's misconduct. Plaintiff is represented by the law firms of Zamansky & Associates LLC and Lovell Stewart Halebian Jacobson LLP, two of the country's premier national law firms that represent institutional and individual investors in class action, complex securities and corporate governance litigation. The firms have achieved many notable results for investors over many years, including some of the largest awards ever made under the antitrust, securities and commodities laws, and have been recognized for their reputation for excellence in class actions and arbitrations by many courts. GOLDMAN SACHS: Acknowledges Receipt of Six Shareholder Lawsuits --------------------------------------------------------------- Several putative shareholder derivative actions have been filed in New York Supreme Court, New York County, and the United States District Court for the Southern District of New York against The Goldman Sachs Group, Inc., its Board of Directors, and certain officers and employees generally alleging claims for breach of fiduciary duty, corporate waste, abuse of control, mismanagement and unjust enrichment in connection with collateralized debt obligation offerings made between 2004 and 2007, and challenging the accuracy and completeness of Goldman Sachs' disclosure. These derivative complaints seek, among other things, declaratory relief, unspecified compensatory damages, restitution and certain corporate governance reforms. In addition, plaintiffs in an existing purported shareholder derivative action in the Delaware Court of Chancery relating to compensation levels for 2009 have amended their complaint to assert, among other things, allegations similar to those in the derivative complaints referred to above. Goldman Sachs delivered copies of the five putative shareholder derivative complaints and the amended putative shareholder derivative complaint to the U.S. Securities and Exchange Commission under cover of a Form 8-K on May 3, 2010. A copy of the Complaint in Rosinek v. Blankfein, et al., Index No. _______ (N.Y. Sup. Ct., N.Y. Cty.), is available at http://is.gd/bTxNaand the Plaintiff is represented by: Nadeem Faruqi, Esq. Beth A. Keller, Esq. 369 Lexington Avenue, 10th Floor New York, NY 10017 Telephone: (212) 983-9330 A copy of the Complaint in Spiegel v. Blankfein, et al., Index No. _______ (N.Y. Sup. Ct., N.Y. Cty.), is available at http://is.gd/bTxUJand the Plaintiff is represented by: Nadeem Faruqi, Esq. Beth A. Keller, Esq. 369 Lexington Avenue, 10th Floor New York, NY 10017 Telephone: (212) 983-9330 - and - Mark C. Gardy, Esq. James S. Notis, Esq. GARDY & NOTIS, LLP 560 Sylvan Avenue, Third Floor Englewood Cliffs, NJ 07632 Telephone: (201) 567-7377 A copy of the Complaint in Hubuschman v. Blankfein, et al., Case No. 10-cv-03476 (S.D.N.Y.), is available at http://is.gd/bTy2h and the Plaintiff is represented by: Thomas G. Amon, Esq. LAW OFFICES OF THOMAS G. AMON 250 West 57th Street, Suite 1316 New York, NY 10107 Telephone: (212) 810-2430 - and - Michael I. Fistel, Esq. Marshall Dees, Esq. HOLZER HOLZER & FISTEL LLC 200 Ashford Center North, Suite 300 Atlanta, GA 30338 Telephone: (770) 392-0090 A copy of the Complaint in Richardson v. Blankfein, et al., Case No. 10-cv-03505 (S.D.N.Y.) (Castel, J.), is available at http://is.gd/bTybXand the Plaintiff is represented by: Robert I. Harwood, Esq. HARWOOD FEFFER LLP 488 Madison Avenue New York, NY 10022 Telephone (212) 935-7400 - and - Robert B. Weiser, Esq. Brett D. Stecker, Esq. Jeffrey J. Ciarlanto, Esq. THE WEISER LAW FIRM, P.C. 121 N. Wayne Avenue, Suite 100 Wayne, PA 19087 Telephone: (610) 225-2677 - and - Kathleen A. Herkenhoff, Esq. THE WEISER LAW FIRM, P.C. 12707 High Bluff Drive, Suite 200 San Diego, CA 92130 Telephone: (858) 794-1441 - and - Alfred G. Yates, Jr., Esq. Gerald L. Rutledge, Esq. LAW OFFICE OF ALFRED G. YATES, JR., P.C. 519 Allegheny Building 429 Forbes Avenue Pittsburgh, PA 15219 Telephone: (412) 391-5164 A copy of the Amended Complaint, dated April 28, 2010, filed on behalf of Southeastern Pennsylvania Transportation Authority and International Brotherhood of Electrical Workers Local 98 Pension Fund in In re The Goldman Sachs Group, Inc., Shareholder Litigation, C.A. No. 5215-CC (Del. Ch. Ct.), is available at http://is.gd/bTyqgand the Plaintiffs are represented by: Pamela S. Tikellis, Esq. Robert J. Kriner, Esq. Tiffany J. Cramer, Esq. CHIMICLES & TIKELLIS LLP 222 Delaware Avenue, Suite 1100 P.O. Box 1035 Wilmington, DE 19801 Telephone: (302) 656-2500 - and - John F. Harnes, Esq. CHITWOOD HARLEY HARNES LLP 2300 Promenade II 1230 Peachtree Street Atlanta, GA 30309 Telephone: (404) 873-3900 A copy of the Complaint in Clem v. Blankfein, et al., Case No. 10-cv-03578 (S.D.N.Y.), is available at http://is.gd/bTyBcand the Plaintiff is represented by: Thomas G. Amon, Esq. LAW OFFICES OF THOMAS G. AMON 250 West 57th Street, Suite 1316 New York, NY 10107 Telephone: (212) 810-2430 - and - Brian J. Robbins, Esq. George C. Aguilar, Esq. Shane P. Sanders, Esq. Julia M. Williams, Esq. ROBBINS UMEDA LLP 600 B Street, Suite 1900 San Diego, CA 92101 Telephone: (619) 525-3990 Goldman Sachs also received a Shareholder Demand Letter, dated April 23, 2010 -- a copy of which is available at http://is.gd/bTzcr-- from: Albert M. Myers, Esq. KAHN SWICK & FOTI, LLC 50 Poydras St., Suite 2150 New Orleans LA 70130 Telephone: (504) 455-1400 threatening to file a new action or a motion with the Court to reopen Louisiana Municipal Police Employees Retirement System v. Blankfein, et al., Case No. 08-cv-07605 (S.D.N.Y., filed Aug. 28, 2009, and subsequently dismissed). PALM INC: Being Sold for Too Little, Calif. Suit Claims ------------------------------------------------------- Courthouse News Service reports that Palm is selling itself too cheaply to Hewlett-Packard, for $1.2 billion or $5.70 a share, half the price it sold at 2 months ago, shareholders say in seven class actions in Santa Clara County Court. A copy of the Complaint in Wong v. Palm, Inc., et al., Case No. 110CV170545 (Calif. Super. Ct., Santa Clara Cty.), is available at: http://www.courthousenews.com/2010/05/03/Palm.pdf The Plaintiff is represented by: Marc M. Umeda, Esq. S. Benjamin Rozwood, Esq. Arshan Amiri, Esq. Jay N. Razzouk, Esq. ROBBINS UMEDA LLP 600 B St., Suite 1900 San Diego, CA 92101 Telephone: 619-525-3990 PFIZER INC: Supreme Court Junks Appeal in Celebrex Fraud Suit ------------------------------------------------------------- Courthouse News Service reports that the United States Supreme Court on Monday refused to take up Pfizer's appeal seeking to derail a class action accusing the drug maker of falsely touting that its drug Celebrex was safer than traditional anti- inflammatory drugs. The justices' refusal to hear the appeal leaves in place a decision by the United States Court of Appeals for the Third Circuit reinstating a securities fraud class action against Pfizer and Pharmacia. The federal appeals court in Philadelphia had ruled that investors' claims were not barred by the two-year statute of limitations, because investors had not been properly notified about the alleged fraud. "We conclude that investors are not put on inquiry notice of fraud when an apparently legitimate scientific dispute arises between the FDA and a pharmaceutical company," Judge Maryanne Barry wrote, referring to FDA staff reports published in 2001. The first class action was filed in April 2003. The Supreme Court rejected Pfizer's appeal without comment. PINNACLE GROUP: S.D.N.Y. Certifies Tenant Class in RICO Lawsuit --------------------------------------------------------------- James Comtois at Crain's New York reports that a federal district court judge has given the go-ahead for a class-action lawsuit to proceed against landlord Pinnacle Group NY and its chief executive, Joel Weiner. Plaintiffs Marjorie and Theodore Charron, Andres Mares-Muro, Raymond Andrew Stahl-David, and Kim Powell allege that Pinnacle and Mr. Weiner have engaged in a wide ranging scheme to harass and intimidate its tenants and evade New York's rent regulation laws with its properties. In addition, the plaintiffs charge that Pinnacle's conduct violates the federal racketeering statute, RICO, and the New York Consumer Protection Act. In her April 27 opinion, which did not address whether or not Pinnacle had violated RICO or the New York Consumer Protection Act, Judge Colleen McMahon of the U.S. District Court for the Southern District of New York certified two overlapping classes to proceed against Pinnacle. She stated that if the plaintiffs' allegations are true, then all of Pinnacle's rent-regulated tenants "either have been subjected to, or are at risk of being subjected to the same general course of allegedly fraudulent and harassing conduct, the same pattern of racketeering." According to Jenner & Block, the law firm appointed to serve as lead counsel for the plaintiffs, the court certified a class compromised of all persons who, as of April 27, 2010, are tenants in rent-regulated apartments in New York City directly or indirectly owned in whole or in part by the Pinnacle Enterprise. The company controls or owns over 400 apartment buildings across the city. The court also certified a liability class so that those tenants seeking damages for Pinnacle's conduct will have the opportunity to prove that Pinnacle and Mr. Weiner violated RICO and state consumer protection laws. The liability class is comprised of anyone who was a tenant in a rent-regulated apartment in the city directly or indirectly owned by Pinnacle at any time between July 11, 2004, and April 27, 2010. Ms. McMahon directed Jenner & Block to submit a proposed method of notifying all members of the liability class of the suit to the court within 14 days. Pinnacle's conduct has previously been the subject of an enforcement action by the New York attorney general's office, which resulted in Pinnacle repaying over $1 million to tenants. RCN CORP: Inks MOU to Settle Delaware Suit Over Yankee Merger ------------------------------------------------------------- RCN Corporation has entered into a memorandum of understanding to settle a class action complaint over its planned merger with Yankee Cable Acquisition, LLC, pending in the Court of Chancery in the State of Delaware, according to the company's April 27, 2010, Form 8-K filing with the U.S. Securities and Exchange Commission. The company entered into an Agreement and Plan of Merger with Yankee Cable Acquisition, LLC, Yankee Metro Parent, Inc., and Yankee Metro Merger Sub, Inc. on March 5, 2010. Cable Buyer, Metro Parent and Merger Sub are controlled by a private equity fund associated with ABRY Partners. The company has scheduled a special meeting of stockholders for May 19, 2010 at 10:00 a.m. (Eastern time) at which company stockholders will be asked to consider and vote on a proposal to adopt the Merger Agreement and to approve the transactions contemplated thereby. On April 21, 2010, the Company filed with the SEC, and mailed to its stockholders of record, a definitive proxy statement on Schedule 14A relating to the solicitation of proxies by the Board of Directors of the company in favor of a proposal to adopt the Merger Agreement and to approve the transactions contemplated thereby at the Special Meeting. On March 8, 2010 and March 11, 2010, class action complaints were filed in the Court of Chancery in the State of Delaware and the U.S. District Court for the Eastern District of Virginia, respectively, on behalf of putative classes of company stockholders and naming the company, all of the members of the Board, Cable Buyer, Metro Parent, Merger Sub and, in the case of the Delaware complaint, ABRY, as defendants. On April 1, 2010, the Delaware plaintiff filed an amended class action complaint in the Delaware Court of Chancery under the caption Murphy v. Levine, et al., Civil Action No. 5320-VCS, and on April 12, 2010, the Virginia plaintiff filed an amended class action complaint in the U.S. District Court for the Eastern District of Virginia under the caption Cohen v. Hillman, et al., Case No. 1:10cv237 (LMB/TCB). The plaintiffs allege that, in connection with their approval of the Merger Agreement and the preparation of the preliminary proxy statement on Schedule 14A filed by the company with the SEC on March 29, 2010, the members of the Board breached their fiduciary duties and, in the case of the Virginia Action, violated certain federal securities laws. The plaintiffs further allege that Cable Buyer, Metro Parent, Merger Sub and, in the case of the Delaware Action, ABRY, aided and abetted the members of the Board in the alleged breaches of their fiduciary duties. The plaintiffs seek a determination that: (a) the respective lawsuits are proper class actions and that the plaintiffs are proper class representatives; (b) the orders preliminarily and permanently enjoining the consummation of the transactions contemplated by the Merger Agreement; (c) the orders rescinding or invalidating such transactions or awarding rescissory damages if consummated; (d) the orders directing the members of the Board to exercise their duties to obtain a transaction that is in the best interests of company stockholders and to make disclosure of all material information to stockholders; (e) the orders imposing a constructive trust, in favor of the plaintiff and the putative classes of company stockholders, upon any benefits improperly received by members of the Board and ABRY, Cable Buyer, Metro Parent and Merger Sub as a result of their allegedly wrongful conduct; (f) an accounting for all damages that the putative classes of company stockholders may sustain as a result of such allegedly wrongful conduct; (g) an accounting for all the profits and special benefits obtained as a result of such allegedly wrongful conduct; (h) an award of the costs of the lawsuit, including reasonable attorneys' and experts' fees and other costs; (i) in the case of the Virginia Action, an order that the proxy statement is materially misleading and contains material omissions in violation of certain federal securities laws; and (j) such other relief as the applicable courts may find just and proper. On April 23, 2010, the company, the members of the Board, Cable Buyer, Metro Parent, Merger Sub and ABRY executed a memorandum of understanding with the plaintiff in the Delaware Action reflecting an agreement in principle to settle the Delaware Action based upon the inclusion in the Definitive Proxy Statement of certain additional disclosures that had been requested by the plaintiff in the Delaware Action. In contemplation of a potential settlement, the company included these additional disclosures in the Definitive Proxy Statement filed with the SEC, and mailed to company stockholders of record, on April 21, 2010. The company, the members of the Board, Cable Buyer, Metro Parent, Merger Sub and ABRY each have denied, and continue to deny, that they have committed or aided and abetted in the commission of any violation of law or engaged in any of the wrongful acts alleged in the Delaware Action, and maintain that they have diligently and scrupulously complied with their fiduciary, disclosure and other legal duties. The company, the members of the Board, Cable Buyer, Metro Parent, Merger Sub and ABRY believe that the Delaware Action is without merit, and they have entered into the MOU solely to avoid the risk of delaying the transactions contemplated by the Merger Agreement and to minimize the expense of litigation. The MOU is subject to customary conditions, including completion of appropriate settlement documentation, completion of confirmatory discovery to confirm the fairness of the settlement and approval by the Delaware Court of Chancery. If the settlement is consummated, the Delaware Action will be dismissed with prejudice and the defendants and other released persons will receive from or on behalf of all persons and entities who held company common stock at any time from March 5, 2010, through the date of consummation of the transactions contemplated by the Merger Agreement a release of all claims relating to the Merger Agreement and the transactions contemplated thereby and the disclosure made in connection therewith (including the claims asserted in the Virginia Action). Members of the purported plaintiff class will be sent notice of the proposed settlement, and a hearing before the Delaware Court of Chancery will be scheduled regarding, among other things, approval of the proposed settlement and any application by plaintiffs' counsel for an award of attorneys' fees and expenses. Neither the MOU nor the proposed settlement would affect the amount of the merger consideration that company stockholders would be entitled to receive if the transactions contemplated by the Merger Agreement are consummated. Notwithstanding the foregoing, there can be no assurance that the parties will ultimately enter into a stipulation of settlement or that the Delaware Court of Chancery will approve a settlement even if the parties enter into such a stipulation. The Company intends to defend the remaining Virginia Action vigorously. RCN Corporation -- http://www.rcn.com/-- is a competitive broadband services provider delivering all-digital and high definition video, high-speed internet and premium voice services to residential and small-medium business customers under the brand names of RCN and RCN Business Services, respectively. In addition, through its RCN Metro Optical Networks business unit, RCN delivers fiber-based high-capacity data transport services to large commercial customers, primarily large enterprises and carriers, targeting the metropolitan central business districts in the company's geographic markets. RCN's primary service areas include Washington, D.C., Philadelphia, Lehigh Valley (PA), New York City, Boston and Chicago. SOLUTIA INC: Continues to Defend Suit Over Contamination -------------------------------------------------------- Solutia, Inc., continues to defend a purported class action lawsuit alleging contamination in St. Clair County, Illinois. In February 2009, a purported class action lawsuit was filed in the Circuit Court of St. Clair County, Illinois against Solutia, Pharmacia, Monsanto and two other unrelated defendants alleging the contamination of their property from PCBs, dioxins, furans, and other alleged hazardous substances emanating from the defendants' facilities in Sauget, Illinois (including our W.G. Krummrich site in Sauget, Illinois). The proposed class is comprised of residents who live within a two-mile radius of the Sauget facilities. The plaintiffs are seeking damages for medical monitoring and the costs associated with remediation and removal of alleged contaminants from their property. In addition to the purported class action lawsuit, twenty additional individual lawsuits have been filed since February 2009 against the same defendants (including Solutia) comprised of claims from over one thousand individual residents of Illinois who claim they suffered illnesses and/or injuries as well as property damages as a result of the same PCB's, dioxins, furans, and other alleged hazardous substances allegedly emanating from the defendants' facilities in Sauget. Moreover, two additional individual lawsuits comprised of claims from eight plaintiffs have been filed in Madison County, Illinois, alleging the plaintiffs suffered illnesses resulting from exposure to benzene, PCBs, dioxins, furans and other hazardous substances. Upon assessment of the terms of the Monsanto Settlement Agreement and other defenses available to the company, it believes the probability of an unfavorable outcome to the company on the Putnam County, West Virginia, Escambia County, Florida, and St. Clair and Madison Counties, Illinois litigation against the company is remote and, accordingly, the company has not recorded a loss contingency. No further developements were reported in the company's April 27, 2010, Form 10-Q filing with the U.S. Securities and Exchange Commission for the quarter ended March 31, 2010. Solutia Inc. http://www.Solutia.com/-- is a market-leading performance materials and specialty chemicals company. The company focuses on providing solutions for a better life through a range of products, including: Saflex(R) interlayer for laminated glass; CPFilms(R) aftermarket window films sold under the LLumar(R) brand and others; and technical specialties including the Flexsys(R) family of chemicals for the rubber industry, Skydrol(R) aviation hydraulic fluid and Therminol(R) heat transfer fluid. Solutia's businesses are world leaders in each of their market segments. With its headquarters in St. Louis, Missouri, USA, the company operates globally with approximately 3,100 employees in more than 50 locations. SOLUTIA INC: Plaintiffs Appeal Summary Judgment in ERISA Suit ------------------------------------------------------------- The appeal of the plaintiffs on the summary judgment in favor of Solutia Inc. on the sole claim against the company's U.S. Employees' Pension Plan, remains pending, according to the company's April 27, 2010, Form 10-Q filing with the U.S. Securities and Exchange Commission for the quarter ended March 31, 2010. Starting in October 2005, separate purported class action lawsuits were filed by current or former participants in the company's U.S. pension plan, which were ultimately consolidated in September 2006 into a single case. The Consolidated Class Action Complaint alleged three separate causes of action against the U.S. Plan: (1) the U.S. Plan violates ERISA by terminating interest credits on prior plan accounts at the age of 55; (2) the U.S. Plan is improperly backloaded in violation of ERISA; and (3) the U.S. Plan is discriminatory on the basis of age. In September 2007, the court dismissed the plaintiffs' second and third claims, and by consent of the parties, certified a class action against the U.S. Plan only with respect to plaintiffs' claim that the U.S. Plan violates ERISA by allegedly terminating interest credits on prior plan accounts at the age of 55. On June 11, 2009, the U.S. District Court for the Southern District of Illinois entered a summary judgment in favor of the U.S. Plan on the sole remaining claim against the U.S. Plan. The district court entered its final appealable judgment in the case on Sept. 29, 2009, and plaintiffs have appealed the decision to the Seventh Circuit Court of Appeals. Solutia Inc. http://www.Solutia.com/-- is a market-leading performance materials and specialty chemicals company. The company focuses on providing solutions for a better life through a range of products, including: Saflex(R) interlayer for laminated glass; CPFilms(R) aftermarket window films sold under the LLumar(R) brand and others; and technical specialties including the Flexsys(R) family of chemicals for the rubber industry, Skydrol(R) aviation hydraulic fluid and Therminol(R) heat transfer fluid. Solutia's businesses are world leaders in each of their market segments. With its headquarters in St. Louis, Missouri, USA, the company operates globally with approximately 3,100 employees in more than 50 locations. TEMPUR-PEDIC: Plaintiffs' Appeal in "Jacobs" Suit Still Pending --------------------------------------------------------------- The appeal of the plaintiffs in the matter Jacobs, et al. v. Tempur-Pedic International, Inc., Case No. 07-cv-00002, remains pending in the U.S. Circuit Court for the Eleventh Circuit on Dec. 11, 2008, according to Tempur-Pedic International Inc.'s April 27, 2010, Form 10-Q filing with the U.S. Securities and Exchange Commission for the quarter ended March 31, 2010. On Jan. 5, 2007 a purported class action was filed against the company in the U.S. District Court for the Northern District of Georgia, Rome Division. The action alleges violations of federal antitrust law arising from the pricing of Tempur-Pedic mattress products by Tempur-Pedic North America and certain distributors. The action further alleges a class of all purchasers of Tempur- Pedic mattresses in the United States since Jan. 5, 2003 and seeks damages and injunctive relief. Count Two of the complaint was dismissed by the court on June 25, 2007 based on a motion filed by the company. Then, following a decision issued by the U.S. Supreme Court in Leegin Creative Leather Prods., Inc. v. PSKS, Inc., on June 28, 2007, the company filed a motion to dismiss the remaining two counts of the complaint on July 10, 2007. On Dec. 11, 2007, that motion was granted and, as a result, judgment was entered in favor of the company and the plaintiffs' complaint was dismissed with prejudice. On Dec. 21, 2007, the plaintiffs filed a "Motion to Alter or Amend Judgment," which has been fully briefed. On May 1, 2008, that motion was denied. The Jacobs appealed the dismissal of their claims, and the parties argued the appeal before the U.S. Circuit Court for the Eleventh Circuit on Dec. 11, 2008. The matter has been taken under advisement by the court. Tempur-Pedic International Inc. -- http://www.tempurpedic.com/-- is a manufacturer, marketer and distributor of mattresses and pillows, which it sells in approximately 80 countries under the TEMPUR and Tempur-Pedic brands. The Company has two operating segments: Domestic and International. The Domestic operating segment consists of United States manufacturing facilities, whose customers include its United States distribution subsidiary and certain third party distributors in the Americas. The International segment consists of its manufacturing facility in Denmark, whose customers include all of the company's distribution subsidiaries and third party distributors outside the Domestic segment. U.S. STEEL: Antitrust Suit Over Products Ongoing in Illinois ------------------------------------------------------------ U.S. Steel Corp. continues to face several purported antitrust class-action lawsuits in Illinois over steel products. In a series of lawsuits filed in U.S. District Court for the Northern District of Illinois beginning Sept. 12, 2008, individual direct or indirect buyers of steel products have asserted that eight steel manufacturers, including U. S. Steel, conspired in violation of antitrust laws to restrict the domestic production of raw steel and thereby to fix, raise, maintain or stabilize the price of steel products in the United States. The cases are filed as class-action lawsuits and claim treble damages for the period 2005 to present, but do not allege any damage amounts. No further details were reported in the company's April 27, 2010, Form 10-Q filing with the U.S. Securities and Exchange Commission for the quarter ended March 31, 2010. U.S. Steel Corp. -- http://www.ussteel.com-- is an integrated steel producer with production operations in North America and Central Europe. The company has an annual raw steel production capability of 24.3 million net tons (tons) in the North America and 7.4 million tons in Central Europe. U. S. Steel is also engaged in several other business activities, most of which are related to steel manufacturing. These include the production of coke in both in North America and Central Europe, and the production of iron ore pellets from taconite, transportation services (railroad and barge operations), real estate operations and engineering and consulting services in North America. ********* S U B S C R I P T I O N I N F O R M A T I O N Class Action Reporter is a daily newsletter, co-published by Bankruptcy Creditors' Service, Inc., Fairless Hills, Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland USA. Gracele D. Canilao, Leah Felisilda, Joy A. Agravante, Ronald Sy and Peter A. Chapman, Editors. Copyright 2010. All rights reserved. ISSN 1525-2272. This material is copyrighted and any commercial use, resale or publication in any form (including e-mail forwarding, electronic re-mailing and photocopying) is strictly prohibited without prior written permission of the publishers. Information contained herein is obtained from sources believed to be reliable, but is not guaranteed. 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