Tag Archives: shareholders

EXIDE BANKRUPTCY BREAKING NEWS: Shareholders of bankrupt Exide ask judge to certify $2.7 million investor class action because Exide and a group of 10 Exide executives and board members knew that Vernon lead smelter was violating environmental regulations because it was leaking toxins and they concealed that in public statements and financial filings

Exide lawsuits

The plaintiffs, which includes both shareholders and senior note holders, allege that Exide and a group of 10 Exide executives and board members knew that the company’s Vernon, California, facility was leaking toxins and concealed this fact in public statements and financial filings, leading investors to buy shares at inflated prices. LAW 360 Exide Investors […]

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EXIDE BANKRUPTCY UPDATE – Exide shareholders lose bid for bigger role in bankruptcy

Dear-Shareholders

Bloomberg News Exide Shareholders Lose Bid for Bigger Role in Bankruptcy By Steven Church December 11, 2014 Shareholders of Exide Technologies, the 125-year-old battery maker, are close to being wiped out and don’t need a court-approved committee to help them fight a reorganization plan that would pay them nothing, a judge said. U.S. Bankruptcy Judge Kevin […]

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EXIDE BANKRUPTCY BREAKING NEWS: Federal judge rules that Exide executives can’t escape investor lawsuit over environmental issues

Exide

“These allegations support that the [company’s Vernon, California-based] facility was critical to Exide’s operations, and that the environmental contamination issues at Vernon were severe,” Judge Wilson said. “In conjunction with Exide’s environmental reporting system, these allegations support a cogent inference that defendants were aware of Vernon’s environmental issues… Further, given the plaintiffs had provided statements […]

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