Tag Archives: securities fraud

GMX Resources IPO Class Action Securities Fraud Lawsuit

Gilman Law Announces Lead Plaintiff Deadline for GMX Resources Class Action Securities Fraud Lawsuit

The Naples Florida office of Gilman Law LLP, a leading national securities law firm, is actively investigating securities fraud allegations in a class action securities fraud lawsuit against GMX Resources (“GMX” or the “Company”) and certain of its officers and directors alleging violations of the Securities Exchange Act of 1940, for issuing materially false or misleading information to investors regarding the Company’s stock offerings on or about July 17, 2008, May 13, 2009, and October 22, 2009. GMX Resources, Inc. (NYSE:GMXR) is a “pure play” independent oil and natural gas exploration and production company, which is focused on the development of unconventional Haynesville/Bossier Shale and Cotton Valley Sands in the Sabine Uplift of the carthage, North Field of Harrison and Panola counties of East Texas. In this context, “pure play” refers to the Company allegedly devoting all of its business to drilling for and producing oil and natural gas in one core area.

The Court has not appointed a lead plaintiff yet and the class has yet been certified in this action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you in this matter, you must apply to be appointed lead plaintiff no later than February 3, 2012 and be selected by the Court. The lead plaintiff will have the ability to participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You are not required to have sold your shares to seek damages or to serve as a Lead Plaintiff.

The complaint accuses the defendants of violations of the Securities Act of 1933 by virtue of the Company’s failure to disclose in connection with the Company’s stock offerings on or about July 17, 2008, May 13, 2009 and/or October 22, 2009 that the Company had incorrectly accounted for certain impairment charges and deferred income taxes and that the Company lacked adequate internal and financial controls such that the Company’s financial statements were not prepared in accordance with Generally Accepted Accounting Principles and contained untrue statements and material omissions at all relevant times. According to the complaint, after, on March 11, 2010, the Company disclosed that its full year 2008 and quarterly 2009 financial statements should no longer be relied upon and would need to be restated, the value of GMX shares declined significantly.

How To Join The GMX Resources Class Action Securities Fraud Lawsuit

If you purchased or otherwise acquired GMX Resources stock (NYSE:GMXR) pursuant or traceable to the IPO, and either lost money on the transaction or still hold the shares, please contact the securities law firm of Gilman Law LLP by February 3, 2012, to discuss your rights to recovery of your losses or to obtain additional information. If you wish to join the GMX Resources class action lawsuit, please CALL TOLL FREE at (888) 252-0048.

About The Leading National Securities Law Firm Gilman Law LLP

The leading national securities law attorneys at Gilman Law have over 35 years of combined experience litigating securities and other class action cases, and have been involved in all major aspects of securities litigation. The leading national securities law firm of Gilman Law focus on cases involving stock manipulation, securities fraud, investment fraud, and shareholder rights violations. The securities lawyers at Gilman Law also have extensive experience representing both individual and institutional investors in securities class action suits.  The national securities law firm of Gilman Law has recovered over a billion dollars for its clients and can help you recover any losses that you have incurred as a result of GMX Resources’ fraudulent practices.


Gilman Law LLP, a leading shareholder rights and securities fraud law firm, is investigating alleged violations of federal securities laws on behalf of investors in Inland American Real Estate Trust, Inc. (Inland American REIT). Inland American focuses on acquiring and developing a diversified portfolio of commercial real estate including retail, multi-family, industrial, lodging, office and student housing properties, located in the United States and Canada.

Join the Inland American REIT Lawsuit | Contact a Securities Fraud Attorney

Inland American REIT Lawsuit

Inland American REIT Lawsuit

The Inland American REIT investigation focuses on the company’s recent announcement that it is being investigated by the Securities and Exchange Commission. The Inland American SEC Investigation involves potential violations of federal securities laws relating to Inland American’s fees and administration. Inland American REIT Investors and individuals with information related to this investigation are encouraged to contact Gilman Law LLP toll free at (888) 252-0048.

About Inland American REIT

Inland American is the largest non-traded REIT, with $11.2 billion in assets. Recently, Inland American disclosed in its quarterly report that the Securities & Exchange Commission (SEC) had initiated an investigation into the Inland American REIT. The investigation seeks “to determine whether there have been violations of certain provisions of the federal securities laws.” The potential violations at issue were described by the company as “regarding the business manager fees, property management fees, transactions with affiliates, timing and amount of distributions paid to investors, determination of property impairments, and any decision regarding whether the company might become a self-administered REIT.”

Problems with Non-Traded REITs

Inland American REIT, like many non-traded REITs, recently announced a reduction in its per share value, which has dropped down to $7.22 per share, a significantly reduction from the REIT’s initial offering price of $10 per share.

About Gilman Law LLP and Our Investment Fraud Attorneys

Gilman Law LLP is an investment fraud law firm with over 35 years of experience in securities litigation, complex securities matters, shareholder disputes, securities fraud, and other types of business and financial fraud. Our Investment Fraud Attorneys are offering Free Consultations to Inland American REIT Investors by calling toll free at (888) 252-0048.


Class Action Lawsuit Against Credit Suisse on Behalf of TVIX Investors in VelocityShares Daily 2x VIX Short ETN

About the TVIX Lawsuit

VelocityShares TVIX Lawsuit

VelocityShares TVIX Lawsuit

The Investment Fraud Attorneys of Gilman Law LLP announce that a class action lawsuit has been filed against Credit Suisse on Behalf of Investors in TVIX exchange traded notes (TVIX ETN) (NYSE:ARCA: TVIX). Investors who purchased or otherwise acquired shares in TVIX pursuant and/or traceable to a November 29, 2010 pricing supplement (together with a March 25, 2009 Registration Statement and Prospectus) and held TVIX ETNs through and including March 22, 2012 (Class Period), may have a claim to recover their losses in TVIX. TVIX ETNs were sold to investors during the Class Period by Credit Suisse AG and its affiliate Credit Suisse Securities (USA) LLC.

Legal Help for Investors with Losses in TVIX

  • Deadline: July 24, 2012
  • Class Period: November 29, 2010 – March 22, 2012
  • E-mail: kgilman@gilmanlawllp.com
  • Telephone: (888) 252-0048
  • Mail: 4001 Bonita Beach Rd., Suite 407, Bonita Springs, FL 40140

TVIX Lawsuit Details

Specifically, the complaint alleges that on February 21, 2012, Credit Suisse announced that it temporarily suspended further issuances of the TVIX ETNs due to “internal limits” reached on the size of the ETNs. As a result of the suspension, shares of TVIX subsequently traded at prices uncorrelated to the S&P VIX Short-term Futures index (the index that the ETN was purportedly designed to track through the use of VIX futures). This “disconnect” lasted for approximately one month.

On March 22, 2012, shares of TVIX declined in price by over 29% as rumors leaked into the market that Credit Suisse was considering whether to recommence issuance of the ETNs. On March 23, 2012, after Credit Suisse announced that it would reopen issuance of TVIX shares on a limited basis, shares of TVIX declined further by almost 40%.

The complaint alleges that these losses are a result of risks that were materially understated or omitted in the TVIX Offering Documents. Credit Suisse also misleadingly omitted to disclose necessary information and material risks of certain scenarios transpiring that might lead to large losses from investments in TVIX ETNs.

About our Investment Fraud Attorneys

The Securities Fraud Attorneys at Gilman Law LLP have over 35 years of experience in securities litigation. Our Investment Fraud Attorneys focus on cases involving securities litigation, securities fraud, mergers and acquisitions, breaches of fiduciary duty, and other shareholder disputes.

ZELTIQ Aesthetics Securities Fraud Lawsuit (NASDAQ: ZLTQ)

National securities law firm Gilman Law LLP announces that a ZELTIQ Aesthetics class action securities fraud lawsuit has been commenced against ZELTIQ Aesthetics, Inc. (“ZELTIQ”) (NASDAQ: ZLTQ) and certain of its officers and directors in Superior Court of the State of California for the County of Alameda.

The ZELTIQ Aesthetics securities fraud lawsuit alleges that ZELTIQ violated Federal securities laws by issuing false and misleading information or omissions in the Company’s Registration Statement and Prospectus, issued in connection with the Offering that was completed on October 24, 2011.

If you purchased or otherwise acquired shares of ZELTIQ pursuant to and/or traceable to the Company’s initial public offer (the “IPO” or “Offering”) in October 2011, you should contact Gilman Law LLP to discuss your rights as to recovery of your losses or for additional information.  For a free evaluation of your case, please complete the online form or CALL TOLL FREE (888) 252-0048.

Based in Pleasanton, California, ZELTIQ is a medical technology company that engages in developing and commercializing non-invasive products for the selective reduction of fat.  ZELTIQ went public in October 2011, which raised $89.3 million, at $13.00 per share.  The complaint alleges that ZELTIQ’s Registration Statement failed to disclose, among other things, that the Company was going to initiate a transition to a direct sales force in certain key international markets in the 2011 fiscal fourth quarter, which would negatively impact the Company’s near term financial performance.  The suit further alleges that the Company’s business during the fiscal fourth quarter was subject to seasonal trends that negatively impacted its financial performance.

Once ZELTIQ issued a press release on March 6, 2012 announcing fourth quarter 2011 sales and profits well below analyst estimates, shares of ZELTIQ declined $3.75 per share, or 33.75%, to close at $7.36 per share, on unusually heavy trading volume.  The closing price represented a cumulative loss of $5.64, or 43.38%, of the value of Company’s shares at the IPO price of $13.00 per share.