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Galena Biopharma, Inc. investigation

STOLL BERNE, an Oregon class action and securities fraud law firm, is investigating potential claims concerning whether Galena Biopharma, Inc. (“Galena”) (NASDAQ: GALE),  its board of directors or officers violated state or federal securities laws, or breached fiduciary duties owed to shareholders.

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American Airlines and US Airways announce $11 billion merger

AMR Corp.’s American Airlines and U.S. Airways are joining forces in an $11 billion merger to create the world’s largest airline company.   According to the terms of the deal, AMR bankruptcy creditors will own 72% of the new company while U.S. Airways shareholders will own 28%. Doug Parker, CEO of U.S. Airways, will continue to serve as chief of the new airline, while AMR CEO Tom Horton will become the non-executive chairman.  Horton will get a performance

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Dell going private for $13.64 per share

Dell has announced a private buyout deal valued at approximately $24.4 billion, which will be the biggest leverage buyout since the financial meltdown.  Michael Dell, along with Silver Lake Management LLC, will offer $13.65 per share — a 25% premium to Dell’s trading price before rumors of the deal surfaced on January 11, but below the 52 week high of $18.32 per share.  Microsoft Corporation will contribute $2 billion to the deal in an effort to

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US Supreme Court accepts certiorari in CAFA case

The United States Supreme Court granted certiorari in a case in which the plaintiff stipulated to less than $5 million in damages to deprive the federal courts of jurisdiction to hear the case under the Class Action Fairness Act of 2005 (“CAFA”).  The case is entitled Standard Fire Insurance Company v. Knowles.  The U.S. Supreme Court framed the issue to be decided as follows: Last term, this Court held that in a putative class action

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CFPB to investigate consumer impact of arbitration

The Consumer Financial Protection Bureau (CFPB), a government agency looking “to make markets for consumer financial products and services work for Americans,” recently announced the launch of a public inquiry into how consumers and financial services companies are affected by arbitration and arbitration clauses. Through the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, Congress requires the CFPB to study this topic and gives the CFPB the power to issue regulations for the

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Consumer Financial Protection Bureau proposes rule to supervise larger participants in consumer debt collection and consumer reporting markets

The Consumer Financial Protection Bureau (CFPB) today announced a proposed rule to include debt collectors and consumer reporting agencies under its nonbank supervision program.  This would mark the first time these important and far-reaching consumer financial market participants are subject to federal supervision. “Consumer financial products and services have become more complex over the years and they have expanded well beyond traditional banks,” said Richard Cordray, CFPB Director.  “Our proposed rule would mean that those

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Two senators introduce bill to allow suits v. cell companies

Two senators introduced a bill on October 4, to prohibit wireless companies from having clauses in contracts that prohibit consumers from suing the companies because of hidden fees or other contract disputes. Senators Richard Blumenthal of Connecticut and Al Franken of Minnesota introduced the measure, which would ban the common practice of putting clauses in wireless phone and data contracts that require consumers to use binding arbitration in the case of a dispute.

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Chambers rates Stoll Berne as a top litigation firm

Once again, Chambers USA rates Stoll Berne as a top litigation firm in Oregon for 2011.  Stoll Berne is listed in Band 1 (the highest level recognized by Chambers.) Chambers notes that its sources say “the team is responsive, intelligent and innovative.”  Gary Berne is considered “among the top business litigators in Portland” and Rob Shlachter is described by peers as “an outstanding litigator who gets tremendous results.”  Keith Ketterling, Steve Larson and Robert Stoll

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Stoll Berne attorneys honored by 2011 Oregon Super Lawyers

STOLL BERNE proudly announces that twelve of the firm’s attorneys have been selected as either 2011 Oregon Super Lawyers or Rising Stars. Lawyers recognized in the Oregon Super Lawyers list include: Gary Berne, Tim DeJong, Keith Ketterling, Steve Larson, David Lokting, Rob Shlachter, Scott Shorr and Robert Stoll. Elizabeth Tedesco Milesnick, Yoona Park, Josh Ross and Jennifer Wagner have all been recognized in the Rising Stars list; and both Rob Shlachter and Tim DeJong as

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U.S. Supreme Court reverses Wal-Mart, Inc. v. Dukes

On June 20, 2011, the U.S. Supreme Court in Wal-Mart, Inc. v. Dukes reversed a class certification order in a class action lawsuit against Wal-Mart filed on behalf of current and former female employees of Wal-Mart.  As reported earlier on this blog, the trial court had  certified a class representing approximately 1.5 million female employees at Wal-Mart stores throughout the country. The workers sued the nation’s largest private employer for sex discrimination in Wal-Mart’s pay,

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