CAR_Public/080124.mbx             C L A S S   A C T I O N   R E P O R T E R

           Thursday, January 24, 2008, Vol. 10, No. 17

                            Headlines

APPLIED SIGNAL: Court Mulls Appeal in Dismissed Securities Suit
BATTAT INC: Recalls Construction Sets with Detachable Magnets
CALPINE: Automatic Stay Lifted; Hawaii Fund May Pursue Lawsuit
COMPUTER SCIENCES: Continues to Face Ark. Suit Over Colossus
CROCUS INVESTMENT: Class Certification to be Decided Next Month

FEDEX GROUND: Appeals Court Rejects Certification Review Request
HELEN OF TROY: Reaches $4.5M Settlement in Tex. Securities Suit  
INTER-AMERICAN PRODUCTS: Recalls Deli Chef Tri-Bean Salad
INTERVOICE-BRITE: 5th Circuit Vacates Class Certification Order
ISRAEL ELECTRIC: Residents Sue Over Undelivered Services

MOSAIC CO: Fla. Court Considers Appeal in Pollution Litigation
NEW ERA CANNING: Recalls Contaminated Canned Vegetables
NEW YORK MORTGAGE: Settles Employees Unpaid Overtime Lawsuit
NORDSTROM: Recalls Taper and Votive Candles Posing Fire Hazard
NORTHFIELD LABORATORIES: Seeks Dismissal of Securities Complaint

NORTHWEST AIRLINES: Objects to Karpiuk, et al.'s Claim No. 12285
OKK TRADING: Recalls Toy Racing Cars on Paint's High Lead Level
PALM INC: Settles Lawsuit Over Treo 600, 650 Smartphones
PHILIPPINES: Reporters' Suit Against First Gentleman Continues
RC2 CORP: $30M Thomas & Friends Suit Settlement Gets Initial OK

RENAISSANCERE HOLDINGS: $13M Securities Suit Deal Gets Approval
SCHOLASTIC CORP: Faces Consolidated N.Y. Securities Fraud Suit
SCHOLASTIC CORP: Faces FACTA Violations Lawsuit in Florida
SHAW GROUP: Plaintiffs Amend Complaint in N.Y. Securities Suit
SHAW GROUP: Fifth Circuit Mulls Appeal in La. Securities Lawsuit

SHUFFLE MASTER: Still Faces Consolidated Securities Suit in Nev.


                  New Securities Fraud Cases

HOMEBANC CORP: Chitwood Harley Files Securities Suit in Ga.
LEAP WIRELESS: Lockridge Grindal Files Securities Fraud Suit
                            

                            *********  


APPLIED SIGNAL: Court Mulls Appeal in Dismissed Securities Suit
---------------------------------------------------------------
The U.S. District Court for the Northern District of California
has heard plaintiffs' appeal against a dismissal of a
consolidated securities class action against Applied Signal
Technology, Inc.

On March 11 and July 19, 2005, purported securities class
actions were filed against the company.  Later, these suits were
consolidated as, "In re Applied Signal Technology Inc.
Securities Litigation, Master File No. 4:05-cv-1027 (SBA)."

The amended consolidated complaint is brought on behalf of a
putative class of persons who purchased the company's company's
securities from Aug. 24, 2004 to Feb. 22, 2005.

The complaints name the company, its chief executive officer,
and its chief financial officer as defendants, and allege that
false and misleading statements regarding the company were
issued during the class period.

On Feb. 8, 2006, the court dismissed the case with prejudice and
entered judgment in defendants' favor.

Plaintiffs appealed the judgment of dismissal on March 23, 2006,
and the appeal was heard on Dec. 6, 2007.

The suit is "In Re: Applied Signal Technology, Inc. Securities
Litigation, Case No. 05-CV-01027," filed in the U.S. District
Court for the Northern District of California under Judge
Saundra Brown Armstrong.

Representing the plaintiffs are:

         Robert S. Green, Esq.
         Green Welling, LLP
         595 Market Street, Suite 2750
         San Francisco, CA 94105
         Phone: 415/477-6700
         Fax: 415-477-6710
         E-mail: RSG@CLASSCOUNSEL.COM

Representing the defendants is:

         David A. Priebe, Esq.
         DLA Piper US, LLP
         2000 University Avenue
         East Palo Alto, CA 94303-2248
         Phone: 650-833-2000
         Fax: 650-833-2001
         E-mail: david.priebe@dlapiper.com


BATTAT INC: Recalls Construction Sets with Detachable Magnets
-------------------------------------------------------------
Battat Magnabild of Plattsburgh, N.Y., in cooperation with the
U.S. Consumer Product Safety Commission, is recalling about
125,000 Magnetic Building Systems.

The company said the small magnets inside the building pieces
can fall out. Magnets found by young children can be swallowed
or aspirated. If more than one magnet is swallowed, the magnets
can attract each other and cause intestinal perforations or
blockages, which can be fatal.

CPSC and Battat have received 16 reports of magnets
coming out of the long flexible rods, 1-inch rods, and of the
corners of square building pieces. No injuries have been
reported.

This recall involves the 293-piece (item number BB1502H)
and the 180-piece (item number BB1431H) Magnabild Magnetic
Building System sets. Both sets come in rotating display cases
that contain 1-inch and 4-inch rods with magnets, curved 1-inch
rods, triangle and square pieces with magnets, square-shaped
plastic building pieces, triangles and 5-sided pieces, and metal
balls. The pieces come in different colors. All of the plastic
building pieces, except the 4-inch flexible rods, have the word
"Magnabild" in raised lettering on them.

The item number is found on a hang tag attached to the set. The
product is designed for children older than three years.

The construction sets were made in China and sold at various
retailers nationwide and online sellers from 2005 through 2007
for between $30 and $40.

Consumers should immediately take the recalled Magnabild
Magnetic Building System away from children and contact Battat
to receive a pre-paid mailer to return the toy and to receive a
free replacement product.

For additional information, contact Battat at (800)
247-6144 between 8 a.m. and 4:30 p.m. ET Monday through Friday
or visit http://www.battatco.com.

To see this recall on CPSC's web site, including pictures of the
recalled products, please go to:
http://www.cpsc.gov/cpscpub/prerel/prhtml08/08173.html


CALPINE: Automatic Stay Lifted; Hawaii Fund May Pursue Lawsuit
--------------------------------------------------------------
In a Court-approved stipulation, the Hawaii Structural
Ironworkers Pension Trust Fund and the Debtors agree to lift the
automatic stay to allow the Fund to prosecute its securities
class action currently pending against Calpine (together with
affiliates in bankruptcy, the Debtors) in the Superior Court of
the state of California, County of Santa Clara, until the entry
of a judgment provided that the judgment may only be enforced
against the insurance policies applicable to the Fund's claims.

The Fund also agrees to release and discharge its right to
collect from the Debtors any claims and causes of action
relating in any way to the Santa Clara Litigation except to the
extent necessary to access applicable insurance proceeds.
         
The Fund's Claim No. 5166 and any other claims filed by the Fund
are disallowed and expunged with prejudice.  The Fund will not
be entitled to receive any distributions from the Debtors on
behalf of those Claims.

(Calpine Bankruptcy News, Issue No. 78; Bankruptcy Creditors'
Service Inc., http://bankrupt.com/newsstand/or 215/945-7000).


COMPUTER SCIENCES: Continues to Face Ark. Suit Over Colossus
------------------------------------------------------------
Computer Sciences Corp. continues to face a class action in
Miller County Circuit Court (Arkansas) that is claiming that
defendants conspired to wrongfully use the Colossus software
products licensed by the company and the other software vendors
to reduce the amount paid to the licensees' insureds for bodily
injury claims.

The suit, entitled, "Hensley, et al. v. Computer Sciences Corp.,
et al.," was filed as a putative nationwide class action on Feb.
7, 2005.  It was originally filed by plaintiff Georgia Hensley,
individually and as a class representative (Class Action
Reporter, Oct. 11, 2007).

The suit faults the defendants for civil conspiracy, breach of
contract, breach of the covenant of good faith and fair dealing,
unjust enrichment, and fraud.

Plaintiffs sought injunctive and monetary relief of less than
$75,000 for each class member, as well as attorney’s fees and
costs.

The company reported no development in the matter in its Jan.
11, 2008 Form 10-Q Filing with the U.S. Securities and Exchange
Commission for the quarter ended Sept. 28, 2007.

The suit is "Hensley, et al. v. Computer Sciences Corp., et al.,
Case No.: CV-2005-0059-3," filed in Miller County Circuit Court
(Arkansas), under Judge Kirk Johnson.

Representing the plaintiff is:

         John Goodson, Esq.
         Keil & Goodson, P.A.
         611 Pecan Street
         Texarkana, AR  
         71854
         Phone: (870)772-4113

Representing defendant State Automobile Insurance Company are:

         Mark Burgess, Esq.
         2301 Moores Lane
         P.O. Box 6297
         Texarkana, Texas 75505-6297 (Bowie Co.)
         Web site: http://www.cbplaw.com

              - and -

         Jason Horton, Esq.
         Crisp, Boyd, Poff & Burgess, L.L.P.
         Moores Lane, P.O. Box 6297
         Texarkana, Texas 75505-6297
         Phone: 903-838-6123
         Fax: 903-832-8489 2301
         Web site: http://www.cbplaw.com


CROCUS INVESTMENT: Class Certification to be Decided Next Month
---------------------------------------------------------------
Justice Kenneth Hanssen of the Court of Queen's Bench of
Manitoba will decide next month whether a purported $200 million
class action by investors against the Crocus Investment Fund
will go ahead, CBC News reports.

At a recent hearing, Justice Hanssen told both parties that he
will decide on Feb. 25, 2008, whether the lawsuit can be
certified as a class action.

                       Case Background

About 34,000 shareholders invested more than $150 million in the
labor-sponsored venture capital fund that collapsed in December
2004.  It stopped trading amid allegations its shares weren't
properly valued.

The fund's securities were frozen in late 2004.  It went into
receivership in June 2005.  A 2005 report by the province's
Auditor-General alleged improper accounting and abuses of travel
and expense policies.

Soon there after, the Crocus Investors Association filed the
suit after fund that was created by the Manitoba government
failed.  

The case named as defendants the government of Manitoba, the
Manitoba Securities Commission, former auditors
PricewaterhouseCoopers LLP, and former investment bankers BMO
Nesbitt Burns Inc., Wellington West Capital, Inc, Chubb
Insurance Company of Canada.

                Settlement With Chubb Insurance

The judge's announcement puts pressure on attorneys working
towards a settlement between the fund's insurance company, and
former Crocus officers and directors.

It was announced last week that Chubb Insurance has agreed to
put $3 million into a fund for shareholders in exchange for
dropping officers and directors from the lawsuit.

According to a report by Aldo Santin of Winnipeg Free Press,
attorney Patrick Riley, who represents former Crocus chief
executive Sherman Kreiner and chief financial officer Jane
Hawkins, confirmed that a settlement of $3.15 million to be paid
by Chubb Insurance has been reached in the case.  Mr. Riley
pointed out though that the settlement was made with no
admission of fault or liability on the part of the directors and
officers (Class Action Reporter, Jan. 8, 2008).

If the settlement is finalized, that would leave the class
action to continue against the other defendants.

Bernie Bellan, who heads the Crocus Investors Association, told
CBC News that shareholders agreed to have the settlement from
Chubb be given to the court-appointed receiver, Russ Holmes of
Deloitte & Touche LLP, who is liquidating the Crocus assets.

Mr. Bellan explains that the settlement should allow the
receiver to begin distributing money it raised through
liquidating the fund's investments.  

In its latest report, Deloitte said it has $58.1 million in cash
being held for investors, and is still working to sell more
assets.

Lead attorney for the investors is:

         David Klein, Esq.
         David Klein, Klein Lyons
         Suite 1100 - 1333 West Broadway    
         Vancouver, B.C. V6H 4C1
         Phone: (604) 874-7171


FEDEX GROUND: Appeals Court Rejects Certification Review Request
----------------------------------------------------------------
The U.S. Court of Appeals for the 7th Circuit upheld a ruling by
the U.S. District Court in Indiana to grant class certification
to a lawsuit that asserted delivery drivers in FedEx Corp.'s
FedEx Ground/Home Delivery subsidiary are direct employees and
not independent contractors.

The three-judge panel rejected FedEx's request to review the
nationwide class certification of the drivers' claim for
employee benefits under the Employee Retirement Income Security
Act (ERISA) and other state claims, said Lynn Rossman Faris,
lead counsel for the drivers in their nationwide class action.

"This is the latest in a string of major legal setbacks for
FedEx," commented Ms. Faris. "We now look forward to the
District Court issuing the class certification decisions in the
remaining lawsuits. The 7th Circuit decision also means the
cases can move forward without the delay an appeal would have
created. We are one step closer to justice for the tens of
thousands of misclassified FedEx drivers."

She noted that the Internal Revenue Service recently ordered
FedEx to pay back taxes and penalties of $319 million for a
single year, after finding that FedEx misclassified drivers as
contractors instead of employers. The total financial liability
FedEx faces in the IRS case has been estimated by stock analysts
at between $1 billion and $2.5 billion. That does not include
what FedEx owes its drivers for expenses, improper deductions
from wages and overtime.

Lynn Rossman Faris, Esq. is the lead trial lawyer in the
original lawsuit against FedEx alleging misclassification of the
drivers as a way to shift the burden for paying millions in
overhead expenses -- including fuel, insurance and uniforms --
from the company to the drivers, enabling FedEx Ground to
compete illegally.  

FedEx Corp. -- http://www.fedex.com/-- provides a portfolio of
transportation, e-commerce and business services through
companies that compete collectively, operate independently and
manage collaboratively, under the respected FedEx brand.


HELEN OF TROY: Reaches $4.5M Settlement in Tex. Securities Suit  
---------------------------------------------------------------
Helen of Troy, Ltd. reached a tentative $4.5 million settlement
of a securities fraud class action filed against in in the U.S.
District Court for the Western District of Texas, according to
the company's Jan 9, 2008 Form 10-Q Filing with the U.S.
Securities and Exchange Commission for the quarter ended Nov.
30, 2007.

Class actions were consolidated into one action against the
company, Gerald J. Rubin, the company's chairman of the board,
president, and chief executive officer, and Thomas J. Benson,
the company's chief financial officer, on behalf of purchasers
of publicly traded securities of the company.

The plaintiffs alleged violations of Sections 10 (b) and 20(a)
of the U.S. Securities Exchange Act of 1934, as amended, and
Rule 10b-5 thereunder, on the grounds that the company and the
two officers engaged in a scheme to defraud the company's
shareholders through the issuance of positive earnings guidance
intended to artificially inflate the company's share price so
that Mr. Rubin could sell almost 400,000 of the company's common
shares at an inflated price.

The plaintiffs sought unspecified damages, interest, fees,
costs, an accounting of the insider trading proceeds, and
injunctive relief, including an accounting of and the imposition
of a constructive trust and/or asset freeze on the defendants'
insider trading proceeds.  The class period stated in the
complaint was Oct. 12, 2004 through Oct. 10, 2005.

An agreement in principle has been reached to settle the
consolidated class action.  The proposed settlement remains
subject to a number of conditions, including the negotiation of
final settlement documents and court approval following notice
to class members.  

Under the proposed settlement, the lawsuit would be dismissed
with prejudice in exchange for a cash payment of $4.5 million.  

The suit is "In Re: Helen of Troy, Ltd., Securities Litigation,
Case No. 3:05-cv-00431-DB," filed in the U.S. District Court for
the Western District of Texas under Judge David Briones.

Representing the plaintiffs are:

         Ariel Acevedo, Esq.
         Tower One, 5200 Town Center Circle, #600
         Boca Raton, FL 33486
         Phone: (561) 361-5000

              - and -

         Daniel R. Malone, Esq.
         The Malone Law Firm
         300 East Main, #1100
         El Paso, TX 79901
         Phone: (915) 533-5000
         Fax: 915/533-5009

Representing the defendants are:

         Nicholas Even, Esq.
         Noel M. Hensley, Esq.
         Haynes Boone, LLP
         901 Main St., Ste. 3100
         Dallas, TX 75202-3789
         Phone: (214) 651-5000
         Fax: 214/651-5940 and 214/200-0470
         E-mail: nick.even@haynesboone.com

              - and -

         H. Christopher Mott, Esq.
         Krafsur Gordon Mott, PC
         4695 North Mesa Street
         El Paso, TX 79912-6103
         Phone: (915) 545-1133
         Fax: 915/545-4433
         E-mail: cmott@gordonmottpc.com


INTER-AMERICAN PRODUCTS: Recalls Deli Chef Tri-Bean Salad
---------------------------------------------------------
Inter-American Products, a division of The Kroger Co. (NYSE:
KR), announced a voluntary recall on all codes of Deli Chef Tri-
Bean Salad sold from store deli counters in some states because
the product has the potential to be contaminated with
Clostridium botulinum, a bacterium which can cause a potentially
life threatening condition called botulism. Consumers should not
consume this product even if it does not look or smell spoiled.

The Tri-Bean Salad was sold at deli counters in stores in
Colorado, Illinois, Indiana, Kansas, Kentucky, Michigan,
Missouri, Nebraska, Ohio, New Mexico, Utah, Washington, West
Virginia, and Wyoming.

The green beans in the Tri-Bean Salad were processed by the New
Era Canning Company, which has announced a recall of the beans.

No illnesses have been reported. No other salad products are
affected by this recall.

Customers are encouraged to dispose of the product and should
contact the store where the product was purchased to receive a
refund.

Consumers with questions or concerns may call Inter-American
Products at 1-800-697-2448.


INTERVOICE-BRITE: 5th Circuit Vacates Class Certification Order
---------------------------------------------------------------
The U.S. Court of Appeals for the 5th Circuit vacated a class
certification order by the U.S. District Court for the Northern
District of Texas in the suit, "David Barrie, et al. v.
InterVoice-Brite, Inc., et al., Case No. 3-01CV1071-D."

Initially, several related class actions were filed on behalf of
purchasers of common stock of InterVoice, Inc. during the period
from Oct. 12, 1999 through June 6, 2000.

Plaintiffs have filed claims, which were consolidated into one
proceeding, under Sections 10(b) and 20(a) of the U.S.
Securities Exchange Act of 1934 and Securities and Exchange
Commission Rule 10b-5 against the company as well as certain
named current and former officers and directors of Intervoice on
behalf of the alleged class members.

In the complaint, Plaintiffs claim that the company and the
named current and former officers and directors issued false and
misleading statements during the Class Period concerning the
financial condition of Intervoice, the results of the merger
with Brite Voice Systems, Inc. and the alleged future business
projections of Intervoice.

Plaintiffs have asserted that these alleged statements resulted
in artificially inflated stock prices.

The District Court dismissed the Plaintiffs’ complaint because
it lacked the degree of specificity and factual support to meet
the pleading standards applicable to federal securities
litigation.

The Plaintiffs’ appealed the dismissal to the U.S. Court of
Appeals for the 5th Circuit, which affirmed the dismissal in
part and reversed in part.  The 5th Circuit remanded a limited
number of issues for further proceedings in the District Court.

On Sept. 26, 2006, the District Court granted the Plaintiffs’
motion to certify a class of people who purchased Intervoice
stock during the Class Period between Oct. 12, 1999 and June 6,
2000.

On Nov. 14, 2006, the Fifth Circuit granted the company’s
petition to appeal the District Court’s decision to grant
Plaintiffs’ motion to certify a class.

The briefing on the merits of company’s appeal is now complete,
and oral argument occurred on Oct. 1, 2007.

The company filed a motion to stay further discovery pending the
Fifth Circuit’s decision on the merits of the company's appeal,
but the District Court denied the motion.

The District Court granted Plaintiffs’ motion for leave to file
a second amended compliant.  

The company has moved to dismiss portions of that amended
complaint.

On Jan. 8, 2008, the Fifth Circuit vacated the District Court’s
class-certification order and remanded the case to the District
Court for further consideration in light of the Fifth Circuit’s
decision in the case, “Oscar Private Equity Investments v.
Allegiance Telecom, Inc.”

The suit is "Barrie, et al. v. Intervoice Brite Inc., et al.,
Case No. 3:01-cv-01071," filed in the U.S. District Court for
the Northern District of Texas under Judge Ed Kinkeade.

Representing the plaintiffs are:

         Marc R. Stanley, Esq.
         Stanley Mandel & Iola
         3100 Monticello Ave., Suite 750
         Dallas, TX 75205
         Phone: 214/443-4301
         Fax: 214/443-0358
         E-mail: mstanley@smi-law.com

              - and -

         Lauren M. Winston, Esq.
         Lerach Coughlin Stoia Geller Rudman & Robbins
         100 Pine St., Suite 2600
         San Francisco, CA 94111
         Phone: 415/288-4545.

Representing the defendants is:

          Timothy R. McCormick, Esq.
          Thompson & Knight
          1700 Pacific Ave, Suite 3300,
          Dallas, TX 75201-4693
          Phone: 214/969-1103
          Fax: 214/880-3253
          E-mail: timothy.mccormick@tklaw.com


ISRAEL ELECTRIC: Residents Sue Over Undelivered Services
--------------------------------------------------------
The Israel National News reported that residents of Gush Etzion
are filing a class action against the Israel Electric Company
for refusing to upgrade and provide proper maintenance for the
electricity infrastructure in the region.

Residents claim they have suffered from blackouts and damage to
their appliances. They have already hired a lawyer and a meeting
is set for next Wednesday in Efrat's Community Center to discuss
the matter, the report said.

Israel Electric Company is a Government fully-owned company.

For more information on the suit call 052 480 0188.


MOSAIC CO: Fla. Court Considers Appeal in Pollution Litigation
--------------------------------------------------------------
The Florida Second District Court of Appeal has yet to rule on
plaintiffs' appeal regarding a dismissal of a class action
against The Mosaic Co. over the release of phosphoric acid
process water from the Riverview, Florida phosphogypsum
management system.

In September 2004, prior to the completion of the combination of
IMC Global Inc. and the fertilizer businesses of Cargill, Inc.,
a class action complaint and demand for jury trial was filed
against Cargill, Inc. in the Circuit Court of the Thirteenth
Judicial Circuit for Hillsborough County, Florida.

The complaint, which arises out of the sudden release of
phosphoric acid process water from the company's Riverview
facility, contains four counts, including statutory strict
liability, common law strict liability, common law public
nuisance and negligence.  The strict liability counts relate to
the discharge of pollutants or hazardous substances.

Plaintiffs seek class certification and an award of damages,
attorneys' fees and costs on behalf of a class of unknown size
comprising "all fishermen and those persons engaged in the
commercial catch and sale of fish, bait, and related products in
the Tampa Bay area who lost income and suffered damages because
of the pollution, contamination and discharge of hazardous
substances by the defendant."  

The motion to dismiss the statutory strict liability counts was
granted in November 2005; the company's other motions to dismiss
the action were denied.

Plaintiffs have amended their complaint and the company has
filed an additional motion to dismiss which was heard by the
Circuit Court in August 2006.

The court granted the company's second motion to dismiss the
case with prejudice on Jan. 9, 2007.  Plaintiffs have appealed
the dismissal to the Florida Second District Court of Appeal,
according to the company's Jan 9, 2008 Form 10-Q Filing with the
U.S. Securities and Exchange Commission for the quarter ended
Nov. 30, 2007.

The Mosaic Co. -- http://www.mosaicco.com/-- is a producer of  
phosphate and potash combined, as well as nitrogen and animal
feed ingredients.  The Company operates its business through
four business segments: phosphates, potash, offshore and
nitrogen.


NEW ERA CANNING: Recalls Contaminated Canned Vegetables
-------------------------------------------------------
New Era Canning Company of New Era, Michigan is recalling all
cans of green beans and garbanzo beans in #10 cans (large cans
containing between 6 and 7 pounds) because they may have been
processed under conditions which could have led to contamination
by Clostridium botulinum bacterium spores, which can cause life-
threatening illness or death.

The codes on the affected product begin with the numbers
“00249,” or the letters “GREEN” or “GARB”. This recall does not
include Italian Green Beans because that is a different product.   

Clostridium botulinum bacterium spores have the potential for
growth that produces a toxin that causes a potentially fatal
form of food poisoning - botulism.  Symptoms of botulism
poisoning in humans can begin from 6 hours to 2 weeks after
eating food that contains the toxin. Symptoms may include double
vision, blurred vision, drooping eyelids, slurred speech,
difficulty swallowing, and muscle weakness that moves
progressively down the body, affecting the shoulders first, then
descending to the upper arms, lower arms, thighs, and calves.
Botulism poisoning also can cause paralysis of the breathing
muscles, which can result in death unless assistance with
breathing (mechanical ventilation) is provided. Individuals who
have these symptoms and who may have recently eaten the green
beans or garbanzo beans currently under recall or other food
products made with these items should seek immediate medical
attention.  

The issues were uncovered in a FDA inspection of products that
were in the company’s possession.  NO product has tested
positive for the toxin and there have been NO cases of botulism
reported from these products.

This recall only affects the products in the large #10 cans, the
majority of which were potentially sold nationwide to various
food service customers.  However these products may also have
been purchased by consumers at retail stores. The code on the
cans may be embossed (stamped into the metal of the can) or
printed in ink on one of the metal can ends.  

Examples of how a code may appear on a can of green beans are:
"00249 2BH7FL", "00249 1515 2BH7FL", "GREEN 2BH7FL" or "GREEN
1515 2BH7FL".  (These are not necessarily actual can codes).

Examples of how a code may appear on a can of garbanzo beans
are:  "00249 34F7LG", "00249 1515 34F7LG", "GARB 34F7LG" or
"GARB 1515 34F7LG".  (These are not necessarily actual can
codes).

New Era Canning, in conjunction with the US Food and Drug
Administration and the Michigan Department of Agriculture, is
thoroughly evaluating all processes and procedures to determine
the cause of the problem.

Any food that may be contaminated should be disposed of
carefully. Even tiny amounts of toxins ingested, inhaled, or
absorbed through the eye or a break in the skin can cause
serious illness. Skin contact should be avoided as much as
possible, and the hands should be washed immediately after
handling the food. Customers who have the product or any foods
made with these products should throw them away immediately.
Double bag the cans in plastic bags that are tightly closed,
then place in a trash receptacle for non-recyclable trash
outside of the home. Restaurants and institutions are encouraged
to assure that such products are only placed in locked
receptacles which are not accessible to the public. Additional
instructions for safe disposal can be found at
www.cdc.gov/botulism/botulism_faq.htm. Anyone with questions can
call FDA at 1-888-SAFEFOOD.

The following product labels are affected:

     -- Bunny brand, Distributed by Bunn Capitol Company,  
        Springfield, IL
     -- Blue Lake mixed and shortcut green beans (green beans,
        water, salt) in 6 lb. 5 oz. cans (UPC 6444500193).
     -- Classic Sysco brand, Distributed by Sysco Corporation,
        Houston, TX.
     -- Blue Lake cut green beans, 3 sieve (green beans, water,
        salt) in 101 oz. (6 lb. 5 oz.) cans (UPC 7486510779).
     -- Blue Lake cut green beans, 4 sieve, (green beans, water,
        salt) in 101 oz. (6 lb. 5 oz.) cans (UPC 7486510487).
     -- Garbanzo beans (garbanzo beans, water, salt, calcium
        chloride, EDTA) in 108.0 oz (6 lb. 12 oz.) cans (UPC  
        7486510484).
     -- Mixed & short cut green beans (green beans, water, salt)
        in 6 lb. 5 oz. cans (UPC 1207310120).
     -- Fancy garbanzo beans without sulfites (garbanzo beans,  
        water, salt, disodium EDTA) in 6 lb. 14 oz. cans (UPC
        1207316120).
     -- ComSource brand, Distributed by ComSource, Atlanta, GA.
     -- Blue Lake cut green beans (green beans, water, salt) in
        6 lb. 5 oz. cans (UPC 5254952333).
     -- Blue Lake cut green beans, 3 sieve, (green beans, water,
        salt) in 6 lb. 5 oz. cans (UPC 5254952321).
     -- ComSource Medallion Premium Quality brand, distributed
        by ComSource, Atlanta, GA.
     -- Fancy Blue Lake cut green beans, 4 sieve, (green beans,
        water, salt) in 6 lb. 5 oz. cans (UPC 5254952325).
     -- ComSource Merit Excellence Food Service brand,  
        Distributed by ComSource, Inc, Atlanta, GA.
     -- Cut Blue Lake green beans, 5 sieve (green beans, water,
        salt) in 6 lb. 5 oz. cans (UPC 5254952327).
     -- Fancy Blue Lake cut green beans, 4 sieve, (green beans,
        water, salt) in 6 lb. 5 oz. cans (UPC 5254952325).
     -- ComSource Traditional brand, Distributed by ComSource,
        Atlanta, GA.
     -- Blue Lake cut green beans, mixed and short cut, (green
        beans, water, salt) in 101 oz (6 lb. 5 oz.) cans (UPC
        5254952359).
     -- Cut Blue Lake green beans, 4 sieve, (green beans, water,
        salt) in 6 lb. 5 oz. cans (UPC 5254952427).
     -- Cut Blue Lake green beans, 5 sieve, (green beans, water,
        salt) in 6 lb. 5 oz. cans (UPC 5254952429).
     -- Frosty Acres Restaurant's Pride Preferred brand, Packed
        for F.A.B., Inc., Alpharetta, GA.
     -- Fancy Blue Lake cut green beans, 3 sieve (green beans,
        water, salt), in 101 oz. (6 lb. 5 oz.) cans (UPC
        4820067373).
     -- Cut Blue Lake green beans, 4 sieve (green beans, water,    
        salt) in 101 oz. (6 lb. 5 oz.) cans (UPC 4820067445).
     -- Blue Lake cut green beans, 5 sieve (green beans, water,
        salt) in 101 oz. (6 lb. 5 oz.) cans (UPC 4820067451).
     -- Fancy cut Blue Lake green beans (green beans, water,
        salt), in 101 oz. (6 lb. 5 oz.) cans (UPC 4820067339).
     -- Fancy cut Blue Lake green beans, 4 sieve (green beans,  
        water, salt), in 101 oz. (6 lb. 5 oz.) cans (UPC
        4820067446).
     -- Mixture of Blue Lake short cut, cut green beans (green
        beans, water, salt), in 101 oz. (6 lb. 5 oz.) cans (UPC
        4820068464).
     -- Fancy garbanzos "chick pea" (garbanzo beans, water,
        salt, calcium chloride, disodium EDTA) in 111 oz. (6 lb.
        15 oz.) cans (UPC 4820068264).
     -- GFS brand, Distributed by Gordon Food Service, Grand
        Rapids, MI
     -- Fancy Blue Lake cut green beans, 4 sieve (green beans,
        water, salt) in 6 lb. 5 oz. cans, reorder no. 118737
        (UPC 9390111873).
     -- Cut Blue Lake green beans, mixed sieve, (green beans,
        water, salt) in 6 lb. 5 oz. cans, reorder no. 273856            
        (UPC 9390127385).
     -- goodtaste brand, Distributed by New Era Canning in New
        Era, MI.
     -- Cut green beans (green beans, water, salt) in 6 lb. 5
        oz. cans (UPC 3683512340).
     -- Harvest Value brand, distributed by U.S. Food Service,
        Columbia, MD
     -- Cut green beans, mixed and short cut, (green beans,
        water, salt) in 101 oz. (6 lb. 5 oz.) cans, 173619 (UPC
        5810803534).
     -- Cut green beans (green beans, water, salt) in 101 (6 lb.
        5 oz.) cans, 170524 (UPC 5810801047).
     -- Cut green beans, short cut (green beans, water, salt) in
        101 oz. (6 lb. 5 oz.) cans, 173349 (UPC 5810803538).
     -- Kitchen brand, Distributed by Potato Products, Detroit,
        MI.
     -- 5 sieve- EX.-STD. cut Blue Lake green beans (green
        beans, water, salt) in 6 lb. 6 oz. cans
     -- Kitchen Essentials brand, Distributed by Gordon Food
        Service, Grand Rapids, MI.
     -- Cut green beans, mixed sieve, (green beans, water, salt)
        in 6 lb. 6 oz. cans, reorder no. 156337  (UPC
        9390115633).
     -- Monarch brand, Distributed by Reid, Murdoch & Co.,
        Columbia, MD
     -- Extra Fancy Blue Lake cut green beans, 4 sieve, (green
        beans, water, salt) in 101 oz. (6 lb. 5 oz.) cans,
        177039 (UPC 5810811196).
     -- Fancy Blue Lake cut green beans, 3 sieve, (green beans,
        water, salt) in 101 oz (6 lb 5 oz) cans, 170672 (UPC
        5810801040).
     -- Monarch Premium brand, packed for PYA/Monarch, Inc,
        Greenville, SC.
     -- Fancy Blue Lake cut green beans, 3 sieve, (green beans,
        water, salt) in 6 lb. 5 oz. cans, 173205  (No UPC code).
     -- Mount Stirling brand, Distributed by Pocahontas Foods
        USA,  Richmond, VA.
     -- Blue Lake cut green beans, 5 sieve, (green beans, water,
        salt) in 6 lb. 5 oz. cans (UPC 4156033379).
     -- Necco brand, Packed by New Era Canning Company, New Era,
        MI.
     -- Cut green beans (green beans, water, salt) in 6 lb. 6
        oz. cans (UPC 3683513340).
     -- New Era brand, Distributed by New Era Canning Co, New
        Era, MI.
     -- Veri-Green cut green beans (green beans, water, salt,
        zinc chloride) in 102 oz. (6 lb. 6 oz.) cans (No UPC
        code).
     -- Cut green beans (green beans, water, salt) in 108 oz. (6
        lb. 12 oz.) cans (UPC 3683511340).
     -- Cut Blue Lake green beans, no salt added, (green beans,
        water) in 102 oz. (6 lb. 6 oz.) cans (No UPC code).
     -- Garbanzo beans (garbanzo beans, water, salt, calcium
        chloride, EDTA) in 108 oz. (6 lb. 12 oz.) cans (UPC
        3683511684).
     -- Nugget brand, Distributed by Nugget, Atlanta, GA.
     -- Green beans, 4 sieve, (green beans, water, salt) in 101
        oz. (6lb. 5oz.) (UPC 4410540023).
     -- Cut green beans, 5 sieve (green beans, water, salt) in 6
        lb. 5 oz. cans (UPC 4410501930).
     -- Veri-green cut green beans (green beans, water, salt,
        zinc chloride) in 6 lb. 12 oz. cans (UPC 4410502101).
     -- Mixed short cut green beans (green beans, water, salt)
        in 6 lb. 5 oz. cans (UPC 4410518838).
     -- Blue Lake cut green beans, 4 sieve, (green beans, water,
        salt) in 101 oz. (6 lb. 5 oz.) cans (UPC 4410501989).
     -- Pocahontas brand, Distributed by Pocahontas Foods USA,
        Richmond, VA.
     -- Fancy Blue Lake cut green beans, 4 sieve, (Blue Lake
        green beans, water, salt), 10282, in 6 lb. 5 oz. cans
        (UPC 4156010282).
     -- Fancy long cut green beans (green beans, water, salt) in
        6 lb. 5 oz. cans (UPC 4156010325).
     -- Fancy Blue Lake green beans, 3 sieve, (Blue Lake green
        beans, water, salt),  10280, in 6 lb. 5 oz.  cans (UPC
        4156010280).
     -- Reliance Sysco, Distributed by Sysco Corporation,
        Houston, TX.
     -- Mixed cut green beans (green beans, water, salt) in 101
        oz. (6 lb. 5 oz.) cans (UPC 7486512175).
     -- Blue Lake cut green beans, 4 sieve, (green beans, water,
        salt) in 101 oz. (6 lb. 5 oz.) cans. (UPC 7486512172).
     -- Blue Lake cut green beans, 5 sieve, (green beans, water,
        salt) in 101 oz. (6 lb. 5 oz.) cans (UPC 7486512174).
     -- Sysco brand, Distributed by Sysco Corporation, Houston,
        TX.
     -- 5096342 Imperial Blue Lake cut green beans, 3 sieve
        (green beans, water, salt) in 6 lb. 5 oz. cans (UPC
        7486512136).
     -- 5096359 Imperial Blue Lake cut green beans, 4 sieve
        (green beans, water, salt) in 6 lb. 5 oz. cans (UPC
        7486512137).
     -- US brand Distributed by U.S. FoodService, Columbia, MD.
     -- Cut green beans, mixed sieve, (green beans, water, salt)
        in 101 oz. (6 lb. 5 oz.) cans, 171132  (UPC 5810801048).
     -- Fancy Blue Lake cut green beans (green beans, water,
        salt) in 101 oz. (6 lb. 5 oz.) cans, 173416  (UPC
        5810811195).
     -- Fancy Blue Lake cut green beans, 3 sieve, (green beans,     
        water, salt) in 101 oz. (6 lb. 5 oz.) cans, 170672 (UPC
        5810801040).
     -- Fancy Blue Lake cut green beans, 4 sieve, (green beans,
        water, salt) 170232 in 101 oz. (6 lb. 5 oz.) cans,
        170672 (UPC 5810801041).
     -- Cut green beans, 5 Sieve, (green beans, water, salt) in
        101 oz (6 lb 5 oz) cans, 170675 (UPC 5810801042).
     -- USDA, Food and Nutrition Service, Special Nutrition
        Programs, Alexandria, VA label.
     -- Cut green beans (green beans, water, salt) in 6 lb. 6
        oz. cans (UPC 1500101061).
     -- Garbanzo beans (garbanzo beans, water, salt, calcium
        chloride, EDTA) in 6 lb. 12 oz. cans (UPC code
        1500101089).

Customers with questions may contact New Era Canning at 1-800-
282-9007 Ext. 111.


NEW YORK MORTGAGE: Settles Employees Unpaid Overtime Lawsuit
------------------------------------------------------------
New York Mortgage Trust, Inc. (OTC BB: NMTR) announced that an
agreement in principle has been reached to settle the previously
disclosed overtime class action litigation between the Company
and certain employees of the Company's discontinued mortgage
lending operation.

The terms of the settlement remain subject to court approval.
The proposed settlement terms will result in a charge of
approximately $1 million to the Company's fourth quarter 2007
results.

Steven Mumma, Co-Chief Executive Officer, President and Chief
Financial Officer of NYMT commented, "We are very pleased to
have reached settlement terms on our discontinued operations
litigation. We are now focused on the investment of new capital
into Agency MBS and look forward to returning the Company to
profitability and restoring the dividend in the near future."

New York Mortgage Trust, Inc. is a self-advised real estate
investment trust (REIT) engaged in the investment management of
mortgage-backed securities (MBS) and high credit quality
residential adjustable rate mortgage (ARM) loans. As of March
31, 2007, the Company exited the mortgage lending business. As a
REIT, the Company is not subject to federal income tax, provided
that it distributes at least 90% of its REIT income to
stockholders.


NORDSTROM: Recalls Taper and Votive Candles Posing Fire Hazard
--------------------------------------------------------------
Nordstrom Inc., of Seattle, Wash., in cooperation with the U.S.
Consumer Product Safety Commission, is recalling about 2,500
Nordstrom “At Home” Taper and Votive Candles.

The company said the candle's exterior coating can ignite,
posing a fire hazard.

Nordstrom has received four reports of flames or smoke coming
from the candle or the exterior coating. One instance of
property damage was reported but no injuries have been reported.

This recall involves Nordstrom “At Home” 10-inch taper candles
and Nordstrom “At Home” votive candles. The taper candles were
sold under style numbers NR-07059G and NR-07059S. The votive
candles were sold under style numbers NR-07001G and NR-07001S.
The candles came in silver and gold and were sold in a box of
six. The style number can be found on a sticker at the bottom of
the packaging.

These recalled candles were manufactured in Taiwan and were
being sold at Nordstrom stores nationwide from September 2007
through December 2007 for about $18 for the taper candles and
about $12 for the votive candles.

Picture of recalled candles:
http://www.cpsc.gov/cpscpub/prerel/prhtml08/08170.jpg

Consumers are advised to stop using these candles immediately
and return them to any Nordstrom store for a full refund.

For additional information, contact Nordstrom at (800) 804-0806,
24 hours per day, visit the company's Web site:
http://www.nordstrom.com,or email: contact@nordstrom.com


NORTHFIELD LABORATORIES: Seeks Dismissal of Securities Complaint
----------------------------------------------------------------
Northfield Laboratories, Inc. plans to file a motion to dismiss
an amended complaint in a consolidated securities fraud class
action filed against it in the U.S. District Court for the
Northern District of Illinois.

Between March 17, 2006 and May 15, 2006, ten separate complaints
were filed, each purporting to be on behalf of a class of
company's stockholders, against Northfield and Dr. Steven A.
Gould, its chief executive officer, and Richard DeWoskin, its
former chief executive officer.

Those putative class actions have been consolidated in a case
pending in the U.S. District Court for the Northern District of
Illinois.

The consolidated amended class action complaint was filed on
Sept. 8, 2006, and alleges, among other things, that during the
period March 19, 2001 through March 20, 2006, the named
defendants made or caused to be made a series of materially
false or misleading statements and omissions about Northfield's
elective surgery clinical trial and business prospects in
violation of Section 10(b) of the U.S. Securities Exchange Act
of 1934, as amended, and Rule 10b-5 promulgated thereunder and
Section 20(a) of the Exchange Act.

Plaintiffs allege that those allegedly false and misleading
statements and omissions caused the purported class to purchase
shares of the company's common stock at artificially inflated
prices.

As relief, the complaint seeks, among other things, a
declaration that the action be certified as a proper class
action, unspecified compensatory damages (including interest)
and payment of costs and expenses (including fees for legal
counsel and experts).

The putative class action is at an early stage and it is not
possible at this time to predict the outcome of any of the
matters or their potential effect, if any, on Northfield or the
clinical development or future commercialization of PolyHeme.

The Company and the individual defendants filed a motion to
dismiss the complaint, and on Sept. 25, 2007, the court granted
that motion, finding that the plaintiffs failed to state a
claim.

The court dismissed the complaint without prejudice and the
plaintiffs have until Nov. 20, 2007 to file an amended
complaint.

The Company intends to file a motion to dismiss the new
complaint, according to the company's Jan 9, 2008 Form 10-Q
Filing with the U.S. Securities and Exchange Commission for the
quarter ended Nov. 30, 2007.

The suit is "Topaz Realty Corp., et al. v. Northfield
Laboratories, Inc., et al., Case No. 06-CV-1493," filed in the
U.S. District Court for the Northern District of Illinois under
Judge George M. Marovich.

Representing the plaintiffs are:

         Patrick Vincent Dahlstrom, Esq.
         Pomerantz Haudek Block Grossman & Gross LLP
         One North LaSalle Street, Suite 2225
         Chicago, IL 60602-3908
         Phone: (312) 377-1181
         E-mail: pdahlstrom@pomlaw.com

              - and -

         Anthony F. Fata, Esq.
         Cafferty Faucher LLP
         30 North LaSalle Street, Suite 3200
         Chicago, IL 60602
         E-mail: afata@caffertyfaucher.com

Representing the defendants is:

         Ronald L. Marmer, Esq.
         Jenner & Block LLP
         330 North Wabash
         Chicago, IL 60611
         Phone: (312) 222-9350
         E-mail: rmarmer@jenner.com


NORTHWEST AIRLINES: Objects to Karpiuk, et al.'s Claim No. 12285
----------------------------------------------------------------
Northwest Airlines (together with affiliates in bankruptcy, the
Debtors) asked the U.S. Bankruptcy Court for the Southern
District of New York to expunge Claim No. 12285 filed by
Jennifer Karpiuk, Neil Hastings and Thomas Bahle on behalf of
themselves and a purported class of participants in certain
pension plans sponsored by the Debtors.

The Debtors explain that:

  -- Ms. Karpiuk, et al., never obtained class certification
     pursuant to Rule 7023 of the Federal Rules of Bankruptcy
     Procedure and any attempt to do so now would be untimely;

  -- the individual allegations of Ms. Karpiuk, et al., fail
     because, with respect to Mr. Hastings and Ms. Karpiuk, the
     claim is redundant of a judgment obtained on their behalf
     in State Court for which a general unsecured claim has
     already been allowed in the Debtors' bankruptcy cases; and

  -- the Debtors are not a fiduciary with respect to a certain        
     employees' pension plan, and the sole discretion to invest
     the stock holdings of Ms. Karpiuk, et al., was vested in an
     independent trustee and the Claimants themselves.

Gregory M. Petrick, Esq., at Cadwalader, Wickersham & Taft LLP
in New York, relates that Ms. Karpiuk filed a complaint in the
United States District Court for the District of Minnesota, on
behalf of a purported class of participants in Northwest-
sponsored pension plans alleging violations of the Employment
Retirement Income Security Act of 1974, by certain members of
the Debtors' Board of Directors and certain senior officers.

Mr. Hastings filed a substantially similar complaint in the same
District Court on November 3, 2005.  The Hastings Complaint was
consolidated with the Karpiuk Complaint on April 28, 2006.

In general, the Consolidated Complaint alleges that the NWA
Corp. stock in the Debtors' pension plans should have been
"sold" or otherwise disposed of prior to the Debtors' filing for
bankruptcy.  The Court dismissed the Consolidated Complaint on
the basis that the claims were preempted by the Railway Labor
Act.

The Claimants appealed the matter to the United States Court of
Appeals for the Eighth Circuit.  The case is currently pending.

Mr. Petrick tells Judge Gropper that without class
certification, Ms. Karpiuk, et al., can only pursue the Claim on
their own behalf.  Moreover, Mr. Hastings and Ms. Karpiuk have
participated in the distributions on account of the General
Unsecured Claim, and can not recover twice for damages for the
same claim.

(Northwest Airlines Bankruptcy News, Issue Number 84; Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or  
215/945-7000).


OKK TRADING: Recalls Toy Racing Cars on Paint's High Lead Level
---------------------------------------------------------------
OKK Trading Inc., of Commerce, Calif., in cooperation with the
U.S. Consumer Product Safety Commission, is recalling 2,000 toy
racing cars.

The company said surface paint on the toy cars contains
excessive levels of lead, violating the federal lead paint
standard.

No incidents/injuries have been reported so far.

This recall involves toy racing cars that are operated with
a remote control. The toy racing car comes with four additional
tires and one remote control. "Formula 1" is printed on the
packaging.

The toy racing cars were made in China and sold at tetail dollar
and discount stores nationwide from October 2007 through
November 2007 for about $1.

Consumers are advised to immediately take this car away from
children and return it to the store where purchased for a
refund.

For additional information, contact the company
toll-free at (877) 655-8697 between 8:30 a.m. and 5:30 p.m. PT
Monday through Friday, or visit http://www.okktrading.com.

To see this recall on CPSC's web site, including a picture of
the recalled products, please go to:
http://www.cpsc.gov/cpscpub/prerel/prhtml08/08172.html


PALM INC: Settles Lawsuit Over Treo 600, 650 Smartphones
--------------------------------------------------------
Palm, Inc. has agreed to provide a cash rebate to Class
Members who experienced two or more repairs or replacements in
lieu of repair, who purchase a new Palm smartphone within a
defined time period, and who send in a valid claim form.

The lawsuit claimed that the Treo 600 and Treo 650 smartphones
had certain defects, failed at unacceptable rates, and that Palm
made misrepresentations concerning the Treo 600 and Treo 650
smartphones.  Palm, Inc. denies all allegations and has asserted
many defenses. Palm is entering into this settlement to avoid
burdensome and costly litigation. The settlement is not an
admission of wrong-doing or an indication that any law was
violated.

The settlement will provide either:

     (a) a cash rebate to any United States resident who  
         purchased a Treo 600 or Treo 650 smartphone,
         experienced two or more repairs or replacements (in  
         lieu of repair) on that device, and purchases a new  
         Palm smartphone within a defined time period; or

     (b) a right of repair for hardware defects, beyond the
         expiration of the warranty on your Treo 600 or Treo
         650, even if buyers did not experience two or more
         repairs or replacements.

The claim form for a cash rebate must be postmarked on or before
July 28, 2008 and received by Palm no more than 21 days
thereafter.  

If the warranty on the buyers' device has already expired by the
Effective Date, the right of repair is valid for 120 days from
the Effective Date.

If the warranty on the device is still in effect on the
Effective Date, the right of repair will extend for 120 days
beyond the expiration of that warranty.

The Court will hold a hearing in this case, “In re Palm Treo 600
and 650 Litigation, Master Case No. C-05-03774-RMW,” on May 2,
2008, at 9:00 a.m. to consider whether to approve the settlement
and attorneys’ fees and expenses totaling no more than
$1,554,000 and incentive payments to the named Plaintiffs in the
aggregate amount of $21,000.

Deadline for exclusion in the settlement is April 7, 2008.  
Objections must be received by April 7, 2008.

The Settlement on the Net: http://www.palzasettlement.com

For more information, send an e-mail message to
Palza.Settlement@palm.com, or write to:

          Ralph M. Stone, Esq.
          Co-Lead Counsel
          Shalov Stone Bonner and Rocco
          485 Seventh Avenue, Suite 1000
          New York, NY 10018


PHILIPPINES: Reporters' Suit Against First Gentleman Continues
--------------------------------------------------------------
Makati Regional Trial Court Branch 143 Judge Zenaida Laguilles  
denied a second motion to dismiss a class action filed against
Jose Miguel “Mike” Arroyo -- husband of Philippine President
Gloria Macapagal Arroyo -- by 40 journalists and three media
organizations in response to his numerous libel suits, the Pinoy
Press reports.

On Dec. 28, 2006, dozens of Filipino journalists who are facing
libel suits filed by Mr. Arroyo filed a counter civil class
action against the presidential spouse at the Makati Regional
Trial Court (Class Action Reporter, Dec. 29, 2006).

Plaintiffs most of whom are charged by Mr. Arroyo with libel are
backed by other journalists, media, and journalists'
organizations.  Such groups include the Philippine Center for
Investigative Journalism and Center for Media Freedom and
Responsibility.

They are contesting the First Gentleman's claim that he has been
maligned as a private citizen, for which he is seeking at least
$2,872,275.41 (PHP141 million) in damages.  The libel cases were
in connection with reports of alleged election fraud and
corruption involving Mr. Arroyo.  The journalists are accusing
Mr. Arroyo of trying to stifle freedom of the press (Class
Action Reporter, Nov. 21, 2006).

Retaliating against the charges filed against them, the
journalists are in turn suing Mr. Arroyo for abuse of power and
for seeking to undermine civil liberties.  The suit is asking
for about $305,561.21 (PHP15 million) in damages for the
anxiety, loss of income, and other inconveniences Mr. Arroyo's
libel suits have allegedly caused.

In January 2007, Mr. Arroyo filed a counterclaim against dozens
of Filipino journalists who filed the suit (Class Action
Reporter, Jan. 10, 2007).   

Mr. Arroyo’s first motion to dismiss the case, which was earlier
denied by Judge Laguilles, argued that the journalists have no
cause of action, since not all of them had been sued by Mr.
Arroyo, and that they had paid insufficient docket fees, the
report said.

Mr. Arroyo filed the second motion to dismiss the class suit on
the ground that the journalists were not cooperating with the
case as they have filed a motion against his motion to make them
answer a questionnaire and to bring to court the articles they
wrote about Mr. Arroyo. Judge Laguilles however dismissed the
motion by the journalists so they will now have to comply.

In a decision signed on 19 December 2007 but released only in
January 2008, Judge Laguilles, junked Mr. Arroyo’s motion to
dismiss the case on “ground(s) of liberality.”

“This is a victory for our side. Now the case is moving,” Harry
Roque, lawyer of the journalists in the case, said.

Mr. Arroyo's lead counsel is:

          Ruy Alberto Rondain, Esq.
          Rondain Mendiola & Pio De Roda Law Office
          405 OMM-CITRA Bldg., 39 San Miguel Ave., Pasig City
          Phone: 633-2421 to 22

Plaintiffs' lawyer is:

          Harry Roque, Esq.
          1904 Antel Corporate Center
          121 Valero Street Salcedo Village
          Makati City Philippines 1227
          Phone:  +632 8873894
          Fax: +632 8873893


RC2 CORP: $30M Thomas & Friends Suit Settlement Gets Initial OK
---------------------------------------------------------------
An Illinois court granted preliminary approval to a nationwide
class action settlement, resolving the claims of hundreds of
thousands of people who bought Thomas & Friends toys allegedly
contaminated with lead paint.

The settlement, which is valued at over $30 million, also
guarantees that RC2 Corporation –- the manufacturer of the
popular children’s toys –- will implement a battery of
safeguards to ensure that its toys are suitable for children to
play with in the future.

“In recent months, moms and dads from around the country have
learned that they cannot assume that their children’ s toys are
safe simply because they came from the shelves of large
retailers. This settlement is an important step towards ensuring
that this is a problem of the past,” explained Jay Edelson of
KamberEdelson, LLC, who, along with his partner Scott A. Kamber,
and William Audet of Audet & Partners, LLP, were appointed to
represent the class as lead counsel.

The settlement was joined by lawyers who filed similar class
actions in Florida, California, New Jersey and Tennessee.

The Court also appointed Gino L. DiVito of Tabet, DiVito, and
Rothstein, LLC as part of the leadership group representing the
class. Mr. DiVito formerly served as both a circuit court and
appellate judge in Illinois and, prior to that, was a Cook
County assistant state's attorney.

Under the settlement agreement, eligible class members can
receive full cash refunds or replacement toys with an additional
“bonus” toy. The settlement also provides for $100,000 to go to
an appropriate not-for-profit organization.

The parties have established a website at
http://www.thomastrainsettlement.comto provide additional  
details about the settlement. That site will be operational by
no later than January 25, 2008.

For more information, contact:

          Jay Edelson
          KamberEdelson, LLC
          Phone: 312-589-6370
          E-mail: jedelson@kamberedelson.com


RENAISSANCERE HOLDINGS: $13M Securities Suit Deal Gets Approval
---------------------------------------------------------------
Judge William Pauley III of the U.S. District Court for the
Southern District of New York granted final approval to a $13.5
million settlement of a securities fraud class action, "In re
RenaissanceRe Holdings Ltd. Securities Litigation, No. 05-Civ.-
6764 (WHP)," BestWire Services reports.

The settlement got preliminary approval in September.  Final
approval was granted at a Jan. 11 fairness hearing.  The judge,
however, denied a request by class counsel, for $3.37 million in
fees, or what amounts to 25% of the settlement.  He determined
that a $3.37 million fee translates to an hourly rate of
approximately $1,640. Also, a 25% attorney’s fee will leave less
than $10 million, after reimbursement of expenses, to be divvied
up by 52,000 plaintiffs.

Judge Pauley ruled that the class counsel should instead take
home $1.33 million, a recovery of about 10%.

“This award should more than adequately compensate class counsel
for its time and effort, for the modest risk it faced in this
case, and for the high quality of its representation, the judge
opined.

                        Case Background

Beginning in July 2005, seven putative class actions were filed
against the defendants.  In December 2005, these actions were
consolidated and in February 2006, the plaintiffs filed a
consolidated amended complaint, purportedly on behalf of all
persons who purchased and/or acquired the publicly traded
securities of the company between April 22, 2003 and July 25,
2005.

The consolidated amended complaint names as defendants in
addition to the company, current and former officers of the
company as defendants.

It alleges that the company and the other named defendants
violated the U.S. federal securities laws by making material
misstatements and failing to state material facts about the
company's business and financial condition in, among other
things, U.S. Securities and Exchange filings and public
statements.

In March 2006, defendants notified the court of their intention
to move to dismiss the consolidated amended complaint.  Thus on
June 2006, they filed motions to dismiss the consolidated
amended complaint.

On Oct. 24, 2006, before those motions were ruled upon, counsel
for the lead plaintiffs requested permission from the court to
move for leave to file a second amended complaint (Class Action
Reporter, Nov. 20, 2006).

On October 30, 2006, the defendants consented to that request.  
Once the new complaint is filed, it is expected that the
defendants will file motions to dismiss the new complaint.

On Feb. 14, 2007, the company executed a memorandum of
understanding with plaintiffs’ representatives setting forth an
agreement in principle to settle the claims alleged in the
Consolidated Amended Complaint, as amended.  

Last September, U.S. District Judge William Pauley III granted a
preliminary approval of the settlement but decided to render a
final judgment on whether the deal was “fair, adequate and
reasonable” in January (BestWire, Oct. 5, 2007).

The suit is "In re RenaissanceRe Holdings Ltd. Securities
Litigation, No. 05-Civ.-6764 (WHP)," filed in the U.S. District
Court for the Southern District of New York under Judge William
H. Pauley, III.   

Representing the plaintiffs are:

         Samuel Howard Rudman, Esq.
         Lerach, Coughlin, Stoia, Geller, Rudman & Robbins, LLP
         58 South Service Road, Suite 200
         Melville, NY 11747
         Phone: 631-367-7100,  
         Fax: 631-367-1173
         E-mail: srudman@lerachlaw.com

         Christopher J. Keller, Esq.
         Labaton Rudoff & Sucharow, LLP, 100 Park Avenue
         New York, NY 10017
         Phone: (212) 907-0853
         Fax: (212) 883-7053
         E-mail: ckeller@labaton.com

Representing the defendants is:

         Steven Robert Paradise, Esq.
         Vinson  & Elkins, L.L.P.
         666 Fifth Avenue, 26th Floor
         New York, New York 10103
         Phone: (917) 206-8000
         Fax: (917) 849-5338
         E-mail: sparadise@velaw.com


SCHOLASTIC CORP: Faces Consolidated N.Y. Securities Fraud Suit
--------------------------------------------------------------
Scholastic Corp. faces a consolidated securities fraud class
action in the U.S. District Court for the Southern District of
New York.

On Aug. 20, 2007, the Alaska Laborers Employers Retirement Fund
filed a lawsuit seeking class action status in the U.S. District
Court for the Southern District of New York against the
Corporation, Richard Robinson, the Corporation’s Chairman,
President and Chief Executive Officer, and Mary Winston, the
former Chief Financial Officer of the Corporation.

A second complaint was filed on Sept. 21, 2007 by Paul Baicu
against the same parties.

Each complaint claims in substance that the Corporation made
false and misleading statements concerning its operations and
financial results during the period from March 18, 2005 through
March 23, 2006.

Both are styled as class actions on behalf of a class of persons
who purchased the Corporation’s securities during such time and
asserts claims pursuant to Sections 10(b) and 20(a) of the
Exchange Act.  

They seek unspecified compensatory damages, costs and attorneys
fees.

On Nov. 8, 2007, the suits were consolidated and entitled, “In
re Scholastic Corporation Securities Litigation.”

The suit is “In re Scholastic Corporation Securities
Litigation,” filed in the U.S. District Court for the Southern
District of New York.

Representing the plaintiffs is:

         Lerach Coughlin Stoia Geller Rudman & Robbins LLP
         58 South Service Road, Suite 200
         Melville, NY 11747
         Phone: 631.367.7100
         Fax: 631.367.1173



SCHOLASTIC CORP: Faces FACTA Violations Lawsuit in Florida
----------------------------------------------------------
Scholastic Corp. faces a purported class action in the U.S.
District Court for the Southern District of Florida, alleging
violations of the Fair and Accurate Credit Transactions Act
(FACTA).

On Nov. 13, 2007, Marlene Root filed a lawsuit seeking class
action status in the U.S. District Court for the Southern
District of Florida against the Corporation.

The complaint claims that, in connection with credit card
transactions in certain operations, the Company violated the
provisions of the Fair and Accurate Credit Transactions Act.

The complaint seeks unspecified compensatory, statutory, and
punitive damages, as well as injunctive relief, costs and
attorney fees.

The suit is “Root v. Scholastic Corp., Case No. 0:07-cv-61632-
UU,” filed in the U.S. District Court for the Southern District
of Florida under Judge Ursula Ungaro.

Representing the plaintiffs is;

         Stephen Richard Astley, Esq.
         Coughlin Stoia Geller Rudman & Robbins LLP
         120 East Palmetto Park Road, Suite 500
         Boca Raton, FL 33432
         Phone: 561-750-3000
         Fax: 561-750-3364
         E-mail: sastley@csgrr.com

Representing the defendant are:

         Nicolas Swerdloff, Esq.
         Hughes Hubbard & Reed
         201 S. Biscayne Boulevard, Suite 2500
         Miami, FL 33131-4332
         Phone: 305-891-1155
         Fax: (305) 371-8759
         E-mail: swerdlof@hugheshubbard.com

              - and -

         Stephanie Reed Traband, Esq.
         Proskauer Rose
         2255 Glades Road, Suite 340 West
         Boca Raton, FL 33431-7360
         Phone: 561-241-7400
         Fax: 561-241-7145
         E-mail: straband@proskauer.com


SHAW GROUP: Plaintiffs Amend Complaint in N.Y. Securities Suit
--------------------------------------------------------------
An amended complaint was filed in the class action, "City of
Brockton Retirement System v. The Shaw Group Inc, et al., Case
No. 06CV8245," which is pending in the U.S. District Court for
the Southern District of New York.

The purported class action was filed against The Shaw Group,
Inc. and certain of its officers on Oct. 10, 2006, alleging
violations of federal securities laws.  

It alleges claims under Sections 10(b) and Rule 10b-5
promulgated thereunder, and 20(a) of the U.S. Securities and
Exchange Act of 1934 on behalf of purchasers of the company's
common stock during the period from Jan. 6, 2006 to July 9,
2006.  

It also alleges, among other things, that:  

      -- the company falsely represented that internal controls  
         were adequate and effective in the second quarter of  
         fiscal 2006, and  

      -- in the second quarter of 2006, materially overstated  
         revenues and understated losses.  

The complaint does not specify the amount of damages sought.  To
date, the action has not been certified as a class action by the
Court.

On Sept. 25, 2007, the judge in the matter signed an order
appointing as lead plaintiffs The City of Brockton Retirement
System and The Norfolk County Retirement System, and appointing
as lead counsel for plaintiffs the firm of Labaton Sucharow &
Rudoff LLP.

On Dec. 3, 2007, plaintiffs served an amended class action
complaint, which includes the same substantive allegations and
the same two claims as the initial complaint.

The suit is "City of Brockton Retirement System v. The Shaw
Group, Inc., et al., Case No. 1:06-cv-08245-RCC," filed in the
U.S. District Court for the Southern District of New York under
Judge Richard C. Casey.

Representing the plaintiffs are:

         Alan Ian Ellman, Esq.
         Christopher J. Keller, Esq.
         Andrei V. Rado, Esq.
         Labaton Sucharow & Rudoff, LLP
         100 Park Avenue
         New York, NY 10017
         Phone: 212-907-0877, 212-907-0853 and 212-907-0700
         Fax: (212) 883-7077 and (212) 883-7053
         E-mail: aellman@labaton.com
                 ckeller@labaton.com



SHAW GROUP: Fifth Circuit Mulls Appeal in La. Securities Lawsuit
----------------------------------------------------------------
The U.S. Court of Appeals for the Fifth Circuit has yet to issue
a ruling on an appeal in the consolidated securities fraud
lawsuit, "Thompson et al. v. Shaw Group, Inc."

On July 23, 2004 an investor filed a complaint against The Shaw
Group, Inc. claiming the company and three top officers misled
the investing public about its finances (Class Action Reporter,
Jan. 19, 2007).

The class action was filed in the U.S. District Court for the
Eastern District of Louisiana and seeks damages for violations
of federal securities laws on behalf of all investors who bought
Shaw Group common stock from Oct. 19, 2000, through and
including June 10, 2004.

The lawsuit claims that the defendants violated Sections 10(b)
and 20(a) of the Securities Exchange Act of 1934 and the rules
and regulations promulgated thereunder, including U.S.
Securities and Exchange Commission.

The complaint names as defendants:

     -- Shaw Group;
     -- J.M. Bernhard Jr., chairman and chief executive officer;
     -- Tim Barfield, Jr., president, chief operating officer,
        and director since 2003; and
     -- Robert L. Belk, chief financial officer and executive
        vice president.

The complaint alleges that, during the class period, Shaw Group
issued materially false and misleading information about its
financial performance to the investing public.  

Specifically, the lawsuit alleges that Shaw Group established
excessive or "general" contract reserves in conjunction with two
acquisitions and then tapped those "cookie jar" reserves to
artificially boost its earnings when needed.  

Defendants also prematurely recognized revenue in connection
with its long-term construction contracts, violating its own
reported revenue recognition policy.

These actions violated Generally Accepted Accounting Practices
and resulted in significantly overstated revenues and net income
throughout the class period, which in turn inflated Shaw Group's
stock price.

The company took advantage of the artificially inflated stock
price by offering $479 million in shares of Shaw Group common
stock to the public, as well as millions of dollars of debt
securities.  

Company insiders also took advantage of the inflated price by
selling approximately 1.94 million shares of Shaw Group common
stock during the class period, for proceeds of roughly $80
million.

After the close of trading on June 10, 2004, the company shocked
the investing public by announcing that Shaw Group was the
subject of an informal investigation by the SEC into the
company's method of accounting for acquisitions.

In response to these revelations, the price of Shaw Group's
common stock plummeted, falling 18% to $10.05 when trading
resumed on June 14, 2004 (following a long weekend).

On Aug. 16, 2004, competing motions for the consolidation of all
related cases and for the appointment of lead plaintiff and lead
counsel were filed with the court.  On Aug. 31, 2004, all
related cases were consolidated into one class action, "Thompson
v. The Shaw Group Inc., No. 04-1685."

On Oct. 20, 2004, a hearing on the motions for the appointment
of lead plaintiff and lead counsel was held and, after argument,
Judge Helen G. Berrigan took the motions under submission and
ordered any supplemental briefing be filed by Nov. 3, 2004.  

Further briefing was filed and on Dec. 13, 2004, Judge Berrigan
signed an Order appointing lead plaintiffs and lead counsel.

Lead plaintiffs filed their consolidated class action complaint
on Feb. 11, 2005 and names as an additional defendant, Richard
F. Gill, who was until 2003, the company's executive vice
president and chief operating officer.  

On June 16, 2005, defendants filed their motion to dismiss the
consolidated complaint.  On Nov. 3, 2005, lead plaintiffs filed
an amended class action complaint.  

On Jan. 13, 2006, defendants filed their motion to dismiss the
amended complaint.  Oral arguments on the motion to dismiss were
held on May 24, 2006 and the motion was denied.

On July 18, 2006, the judge granted defendant's motion for an
immediate appeal of the motion to dismiss to the fifth circuit
court of appeals and that the case be stayed pending the outcome
of the appeal.  

On Sept. 7, 2006, the U.S. Court of Appeals for the Fifth
Circuit agreed to hear the appeal of the motion to dismiss.

The company's and individual defendants' appeal is fully briefed
and was argued on Oct. 2, 2007.  The Fifth Circuit Court has
taken the appeal under advisement and has not yet rendered a
decision.

The company reported no development in the matter in its Jan. 9,
2008 Form 10-Q Filing with the U.S. Securities and Exchange
Commission for the quarter ended Nov. 30, 2007.

The suit is "Thompson et al. v. Shaw Group, Inc., et al., Case  
No. 04-CV-1685," filed in the U.S. District Court for the
Eastern District of Louisiana under Judge Helen G. Berrigan.   

Representing the plaintiffs are:

         Peter E. Seidman, Esq.
         Milberg Weiss Bershad Hynes & Lerach LLP
         One Pennsylvania Plaza
         New York, NY 10119-0165  
         Phone: (212) 594-5300

              - and -

         Lewis Stephen Kahn, Esq.
         Kahn Gauthier Law Group, LLC
         650 Poydras St., Suite 2150
         New Orleans, LA 70130
         Phone: 504-455-1400

Representing the defendants are:
      
         Steven W. Copley, Esq.
         Gordon, Arata, McCollam, Duplantis & Eagan LLP
         201 St. Charles Ave., Suite 4000
         New Orleans, LA 70170-4000
         Phone: (504) 582-1111

              - and -

         J. J. (Jerry) McKernan, Esq.
         McKernan Law Firm
         8710 Jefferson Hwy.
         Baton Rouge, LA 70809
         Phone: 225-926-1234


SHUFFLE MASTER: Still Faces Consolidated Securities Suit in Nev.
----------------------------------------------------------------
Shuffle Master, Inc. continues to face a consolidated securities
fraud class action in the U.S. District Court for the District
of Nevada.

Initially, several complaints were filed against the company.  
They are as follows:

                        Stocke Litigation

On June 1, 2007, a putative class action complaint for violation
of the federal securities laws against the Company and the
company's Chief Executive Officer, Mark L. Yoseloff, and Chief
Financial Officer, Richard L. Baldwin, was filed in the U.S.
District Court for the District of Nevada on behalf of persons
who purportedly purchased the company's stock between Dec. 22,
2006, and March 12, 2007.

The case is entitled, “Joseph Stocke vs. Shuffle Master, Inc.,
Mark L. Yoseloff and Richard L. Baldwin.”  The company, as well
as, Dr. Yoseloff, and Mr. Baldwin, were served with the
complaint on June 6, 2007.

The complaint asserts claims pursuant to Sections 10(b) and
20(a) of the U.S. Securities Exchange Act of 1934, and Rule 10b
5 promulgated thereunder.

These claims allegedly relate to the company's March 12, 2007,
announcement that it would restate its Fiscal Fourth Quarter and
full year financial results.  

The complaint seeks compensatory damages in an unstated amount.

On or about Aug. 4, 2007, four plaintiffs moved the Court for
appointment as lead plaintiff.  No decision has yet been made.

On or about Sept. 6, 2007, one of those plaintiffs withdrew its
application for appointment.  

                      Armistead Litigation

On June 12, 2007, a second putative class action complaint for
violation of the federal securities laws against the Company and
Dr. Yoseloff and Mr. Baldwin was filed in the U.S. District
Court for the District of Nevada.

The case is entitled, “Robert Armistead, Jr. vs. Shuffle Master,
Inc., Mark L. Yoseloff and Richard L. Baldwin.”  The Company,
Dr. Yoseloff and Mr. Baldwin were served with the complaint on
June 12, 2007.

This lawsuit effectively mirrors the allegations in the Stocke
lawsuit filed against these same defendants on June 1, 2007,
except that the Armistead complaint was filed on behalf of
persons who purchased our stock between March 20, 2006, and
March 12, 2007.

                        Tempel Litigation

On June 25, 2007, a third putative class action complaint for
violation of the federal securities laws against the Company,
Dr. Yoseloff and Mr. Baldwin was filed in the U.S. District
Court for the District of Nevada.

The case is entitled, “Andrew J. Tempel vs. Shuffle Master,
Inc., Mark L. Yoseloff and Richard L. Baldwin.”  This lawsuit is
a “copycat” lawsuit of the Stocke lawsuit filed against these
same defendants on June 1, 2007.

                          Consolidation

On June 22, 2007, a Joint Stipulation was filed in the U.S.
District Court for the District of Nevada providing that all
presently filed and any subsequently filed related class actions
shall be consolidated and captioned, “In Re Shuffle Master, Inc.
Securities Litigation.”

The company reported no development in the matter in its Jan.
18, 2008 Form 10-K Filing with the U.S. Securities and Exchange
Commission for the fiscal year ended Oct. 31, 2007.

The suit is “In Re Shuffle Master, Inc. Securities Litigation,
Case No. 07-CV-00715,” filed in the U.S. District Court for the
District of Nevada under Judge Kent J. Dawson.

Representing the plaintiffs are:

          Albright, Stoddard, Warnick & Albright
          801 South Rancho Drive, Quail Park Suite D-4
          Las Vegas, NV, 89106
          Phone: 702.384.7111

          Berger & Montague PC
          1622 Locust Street, Philadelphia, PA, 19103
          Phone: 800.424.6690
          Fax: 215.875.4604
          E-mail: investorprotect@bm.net

          Glancy Binkow & Goldberg LLP
          1801 Ave. of the Stars, Suite 311
          Los Angeles, CA, 90067
          Phone: (310) 201-915
          Fax: (310) 201-916
          E-mail: info@glancylaw.com

               - and -

          Pomerantz Haudek Block Grossman & Gross LLP
          100 Park Avenue, 26th Floor
          New York, NY 10017-5516
          Phone: 212.661.1100
          Fax: 212.661.8665
          E-mail: info@pomerantzlaw.com


                  New Securities Fraud Cases


HOMEBANC CORP: Chitwood Harley Files Securities Suit in Ga.
-----------------------------------------------------------
Chitwood Harley Harnes LLP announced it has filed a class action
lawsuit on behalf of all persons who purchased the common stock
of HomeBanc Corp. (OTC US: HMBN.PK) during the period from
September 26, 2005 through August 3, 2007, inclusive.

The defendants are Patrick S. Flood, who served as the Company's
Chief Executive Officer and Chairman of the Board at all
relevant times until his resignation from the Company on January
12, 2007, and Kevin D. Race, who served as the Company's Chief
Executive Officer, President, Chief Operating Officer and Chief
Financial Officer at all relevant times, and served as a
director of the Company at all relevant times. The case is
pending in the U.S. District Court for the Northern District of
Georgia.

A copy of the Complaint will be available at
http://www.chitwoodlaw.com.

The Complaint alleges that the officers of HomeBanc - Kevin D.
Race and Patrick S. Flood - violated the Securities Exchange Act
of 1934. Beginning on September 26, 2005, HomeBanc sought to
register 2 million shares of 10% Series A Cumulative Redeemable
Preferred Stock.  On February 2, 2006, HomeBanc sold these
preferred shares through its underwriters, raising approximately
$50 million. However, HomeBanc failed to disclose in its
registration statement that it was planning to sell its  
adjustable rate loans for cash, and was buying lower-quality,
higher-risk, residential mortgage-backed securities.

Throughout the Class Period, HomeBanc misrepresented its risk of
loss due to interest rate fluctuations. HomeBanc was earning
less in interest on its assets than the amount it had to pay in
interest on its debts. As a result, HomeBanc had less cash
available to meet its business and operating needs.

HomeBanc, however, continued to tell the public throughout the
Class Period that it had sufficient current cash balances and
cash flows from its operations to support its liquidity needs
for at least a year or more. Even as late as May 9, 2007,
HomeBanc told the public that it had enough cash "to support our
liquidity requirements for the foreseeable future." Just three
months later, HomeBanc's common and Series A Preferred shares
were delisted from the New York Stock Exchange. On August 7,
2007, HomeBanc filed for bankruptcy.

Lead plaintiff filing deadline is January 29, 2008.

For more information, contact:

          Chitwood Harley Harnes LLP
          Meryl W. Edelstein, Esq.
          E-mail: medelstein@chitwoodlaw.com

          or
          
          Mary Kathryn King, Esq.
          kking@chitwoodlaw.com
          Web site: www.chitwoodlaw.com
          Phone: 1-888-873-3999 or 404-873-3900


LEAP WIRELESS: Lockridge Grindal Files Securities Fraud Suit
------------------------------------------------------------
Lockridge Grindal Nauen P.L.L.P. filed a class action against
Leap Wireless International, Inc. and certain of its officers
and directors in the United States District Court for the
Southern District of California, on behalf of investors who
purchased or otherwise acquired Leap common stock from November
10, 2005 through November 8, 2007.

The Complaint alleges that during the Class Period, Defendants
issued materially false and misleading statements regarding the
Company's business and prospects. As a result of Defendants'
false statements, Leap stock traded at artificially inflated
prices during the Class Period, reaching its all-time high of
$99.04 per share on July 25, 2007.

In November of 2007 the Company shocked the investment world
when it announced that it was restating its financial statements
for fiscal years 2004, 2005 and 2006 and for the first and
second quarters of 2007 to correct errors in previously reported
service revenues, equipment revenues, and operating expenses.
When the truth about the Company's financials was finally
revealed on November 9, 2007, the price of the Company's
publicly traded stock plummeted to close at $36.72, damaging the
Plaintiff and the other members of the Class.

The Complaint alleges that Defendants orchestrated a fraudulent
scheme and course of business that operated as a deceit on
purchasers of Leap common stock. According to the Complaint, the
scheme:

     (i) deceived the investing public regarding Leap's
         prospects and business;

    (ii) artificially inflated the price of Leap's common stock;

   (iii) allowed Company insiders to sell their own Leap stock
         at artificially inflated prices; and

    (iv) caused Plaintiff and other members of the Class to
         purchase Leap common stock at artificially inflated
         prices.

Interested parties may move the court no later than January 28,
2008 for lead plaintiff appointment.

For more information, contact:

          Karen H. Riebel, Esq.
          Lockridge Grindal Nauen P.L.L.P.
          100 Washington Avenue South, Suite 2200
          Minneapolis, MN  55401
          Phone: (612) 339-6900
          E-mail: khriebel@locklaw.com


                           *********


S U B S C R I P T I O N   I N F O R M A T I O N

Class Action Reporter is a daily newsletter, co-published by
Bankruptcy Creditors' Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland
USA.   Glenn Ruel Senorin, Ma. Cristina Canson, and Janice
Mendoza, Editors.

Copyright 2008.  All rights reserved.  ISSN 1525-2272.

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Information contained herein is obtained from sources believed
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