IMergent Agrees to Settle Class Action
Class Action News
[##_1L|1301042472.jpg|width="90" height="119" alt=""|_##]E-commerce software provider iMergent Inc. said Friday it has entered into a memorandum of understanding to settle a class action lawsuit against the company for $2.8 million. IMergent expects to pay the $2.8 million settlement to the class plaintiffs through the directors and officers insurance policy maintained by the company. As a result, iMergent said the settlement is not expected to affect the company's operating results.
According to Securities and Exchange Commission filings, the complaint alleges that the defendants violated federal securities laws by making material misleading statements and omissions, providing inaccurate financial information, and failing to make proper disclosures.
The initial class action suit was filed in 2005. The company denies liability.
The memorandum of understanding is subject to certain contingencies that require court approval, including a provision that prevents its former independent auditors Grant Thornton LLP from prosecuting any claims against the company related to the litigation.
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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.