Coast Financial Slapped With Class Action Lawsuit
Class Action News
A class action lawsuit has been filed against Coast Financial Holdings Inc.[ticker: CFHI], the parent company of Coast Bank of Florida, on behalf of purchasers of the bank’s publicly traded securities.
The complaint alleges that defendants violated the federal securities laws by issuing materially false and misleading statements in press releases and filings with the Securities and Exchange Commission.
According to the complaint, Bradenton, Fla.-based Coast Financial partnered with Construction Compliance Inc. (CCI) to lend money to borrowers who would use the money to construct homes in Southwest Florida.
The lawsuit accuses the banking company of hiding the facts about its relationship with CCI and the true risks associated with the real estate market.
Related listings
-
Enron investors ask Supreme court to review ruling
Class Action News 04/05/2007[##_1L|1364069313.jpg|width="130" height="128" alt=""|_##]Plaintiffs in a $40 billion Enron shareholder lawsuit today asked the U.S. Supreme Court to reverse an appeals ruling that sapped the litigation's strength. In a court filing, lawyers for the ...
-
Second pet fool lawsuit filed in LA
Class Action News 04/03/2007[##_1L|1169164439.jpg|width="130" height="67" alt=""|_##]The second lawsuit to be filed in L-A Superior Court in a week over contaminated pet food comes from a Los Angeles-area woman whose eight-year-old purebred Samoyed named Sammy died of kidney fa...
-
Class Action Filed as to Tainted Pet Foods
Class Action News 03/30/2007[##_1L|1023688465.jpg|width="120" height="112" alt=""|_##]With a continuing rise in the number of pets harmed or killed by tainted pet food, the next inevitable phase of the calamity is unfolding: Lawsuits. At least six class action suits already hav...
Grounds for Divorce in Ohio - Sylkatis Law, LLC
A divorce in Ohio is filed when there is typically “fault” by one of the parties and party not at “fault” seeks to end the marriage. A court in Ohio may grant a divorce for the following reasons:
• Willful absence of the adverse party for one year
• Adultery
• Extreme cruelty
• Fraudulent contract
• Any gross neglect of duty
• Habitual drunkenness
• Imprisonment in a correctional institution at the time of filing the complaint
• Procurement of a divorce outside this state by the other party
Additionally, there are two “no-fault” basis for which a court may grant a divorce:
• When the parties have, without interruption for one year, lived separate and apart without cohabitation
• Incompatibility, unless denied by either party
However, whether or not the the court grants the divorce for “fault” or not, in Ohio the party not at “fault” will not get a bigger slice of the marital property.