CAR_Public/090728.mbx             C L A S S   A C T I O N   R E P O R T E R

             Tuesday, July 28, 2009, Vol. 11, No. 147

                           Headlines

AVX CORP: S.C. Court Upholds Ruling in Property Damage Lawsuit
CAPITAL INVESTMENT: Tentative Settlement Reached in S.C. Lawsuit
CARACO PHARMACEUTICAL: Faces Securities Fraud Lawsuits in Mich.
CERBERUS CAPITAL: Settles Pa. Suit by Ex-Anchor Glass Employees
CSX CORP: Lawyers Set to Seeks Class Certification for Ohio Suit

DAVID HERNANDEZ: Faces Ill. Litigation Over $12M Ponzi Scheme
DELAWARE: Officials Face Litigation Over "Sports Betting Scheme"
DELL INC: Texas Court Approves $9.1M Gender Discrimination Deal
DEPARTMENT OF THE INTERIOR: Head Faces Suit by BIA, BIE Workers
EPSON CANADA: Settles Consumer Lawsuits Over Inkjet Cartridges

LANSBRIDGE UNIVERSITY: B.C. Court Certifies Students' Lawsuit
LEXISNEXIS RISK: Faces FCRA Violations Lawsuit in Illinois
LOCKHEED MARTIN: Bid to Remove Firm in Pension Plans Suit Denied
MEDAREX INC: Faces Investor's Suit Over Bristol-Myers Agreement
MINNESOTA: Political Activist Sues Governor Over "Unallotments"

REED ELSEVIER: Faces Subscribers' Litigation in California
THINKORSWIM GROUP: Sept. 30 Hearing Set for Ill. Suit Settlement
TIMBERCORP: Investors Launch AUD$240M Litigation Over Collapse
WACHOVIA BANK: Still Faces Fla. Litigation Over Overdraft Fees

* Filings Remain High, Median Settlements Under $10M, NERA Says


                   New Securities Fraud Cases

SKILLED HEALTHCARE: Rosen Law Firm Files Securities Fraud Suit


                           *********

AVX CORP: S.C. Court Upholds Ruling in Property Damage Lawsuit
--------------------------------------------------------------
The U.S. District Court for the District of South Carolina
upheld a magistrate judge's ruling in a class-action lawsuit
that accuses AVX Corp. of contaminating groundwater in a roughly
10-block Myrtle Beach neighborhood with a toxic chemical called
trichloroethylene, or TCE, David Wren of The Myrtle Beach Sun
News reports.

About 200 property owners filed the class-action lawsuit against
AVX in 2007, claiming the contamination has ruined their
property values, according to The Myrtle Beach Sun News.

AVX wanted the lawsuit to be heard in federal court, however, a
magistrate judge ruled in March 2009 that the property owners'
lawsuits don't belong in federal court because they focus solely
on state laws governing financial compensation for negligence,
reports The Myrtle Beach Sun News.

That ruling was upheld recently by Judge Terry L. Wooten of the
U.S. District Court for the District of South Carolina, The
Myrtle Beach Sun News reported.

A purported class-action lawsuit over the alleged migration of
certain pollutants from AVX Corp.'s South Carolina factory to
neighboring properties remains pending

Originally, the lawsuit was filed in the South Carolina State
Court on Nov. 27, 2007, by certain individuals seeking
certification as a class-action suit, which has not yet been
determined (Class Action Reporter, June 11, 2009).

In essence, the suit claims that property value had been
negatively impacted by alleged migration of certain pollutants
from the company's property (Class Action Reporter, Jan. 9,
2009).

The suit was removed to the U.S. District Court for the District
of South Carolina, according to the company's May 20, 2009 Form
10-K filing with the U.S. Securities and Exchange Commission for
the fiscal year ended March 31, 2009.

AVX Corp. -- http://www.avx.com/-- is a worldwide manufacturer
and supplier of a line of passive electronic components and
related products.  Virtually all types of electronic devices use
the Company's passive component products to store, filter or
regulate electric energy.  AVX's passive electronic component
products include ceramic and tantalum capacitors, film
capacitors, varistors and non-linear resistors manufactured in
its facilities throughout the world and passive components
manufactured by Kyocera Corp. of Japan (Kyocera), its majority
stockholder, which owns approximately 71% of AVX's outstanding
common stock.  The Company also manufactures and sells
electronic connectors and inter-connect systems, and distributes
and sells certain electronic connectors manufactured by Kyocera.
The Company has three segments: Passive Components, Kyocera
Electronic Devices Resale and Connectors.


CAPITAL INVESTMENT: Tentative Settlement Reached in S.C. Lawsuit
----------------------------------------------------------------
A tentative global settlement is being worked out to resolve a
class-action lawsuit against Capital Investment Funding LLC, an
Upstate investment firm, and its manager, Arthur Field, David
Dykes of GreenvilleOnline.com reports.

Judge Edward W. Miller and a mediator in the case told about 100
noteholders and others during a recent court hearing in
Greenville that while a so-called global settlement had been
reached, efforts stalled because of objections by the state
Attorney General's Office.

Under key provisions of the proposed settlement, Easley-based
Capital Investment acknowledged a judgment of nearly $39.5
million to noteholders, a certified public accountant from
Greenville would be appointed receiver to wind up the company's
affairs, and Arthur Field would resign as the firm's manager.

GreenvilleOnline.com previously reported that Circuit Judge
Edward W. Miller ruled that a lawsuit against Capital Investment
Funding LLC and its manager, Arthur Field, may proceed as a
class-action case on behalf of 650 noteholders who are owed an
estimated $39.8 million as the company winds down its business
(Class Action Reporter, Sept. 5, 2008).

According to the report, Judge Miller issued an order certifying
the class action and appointing Surfside Beach attorney Gene M.
Connell Jr., Esq., as its temporary counsel.

Mr. Connell is representing a Horry County couple -- William F.
Tomz and his wife, Frances -- who sued Capital Investment and
its manager in an attempt to recover more than $337,000 for the
purchase of senior notes from the company, according to court
records.  The Tomzs alleged a breach of contract, demanded an
accounting of the company's assets and requested a court-ordered
receiver to take over those assets.  The suit also sought to
become a class-action case.

Court records indicate that the Tomzs alleged Capital Investment
bundled noteholders' funds to underwrite large-scale real estate
market loans to companies that were related to or controlled by
Mr. Field and his company.

However, the report relates, Mr. Field and his company reasoned
that an economic downtown limited their ability to collect on
Capital Investment's loans, and in January, Capital Investment
notified noteholders it was winding up its business and closing
the corporation.  In an interview in January 2008, Mr. Field
said Capital Investment was being dissolved and it could not
guarantee about 650 noteholders who were owed about $39.8
million that they would get all of their money back.

Judge Miller's order said that both parties agreed to mediation
within 60 days in an attempt for noteholders to gain "an
acceptable level of input" and information regarding the
company's operations and to reach a settlement on behalf of all
noteholders in the suit, according to GreenvilleOnline.com.

All noteholders will be notified of the class-action lawsuit,
and they have 30 days "to opt out" if they do not wish to
participate, according to Judge Miller.

"Although every noteholder has the legal right to pursue its own
action, Capital Investment Funding LLC hopes all noteholders
will elect to remain in the class in order to achieve a uniform,
simple resolution of the legal matters, expedite the winding up,
and minimize the total legal costs to the company and its
noteholders," Mr. Field said in a statement.

Judge Miller also ordered Capital Investment and Mr. Field to
produce documents related to the company's assets and
liabilities as of July 25, 2008, to the court and to Mr.
Connell.  Those documents will be sealed from public review to
protect the company's business and financial information, the
judge wrote.

GreenvilleOnline.com further cites Judge Miller as directing
that a temporary restraining order prohibiting the company from
selling assets and closing the business remains in effect until
the mediation takes place.  He also withheld a ruling on a
court-appointed receiver to take charge of Capital Investment's
property during the company's winding down of its operations.

The report points out that other noteholders from Greenville and
Pickens counties have sued Capital Investment, Mr. Field, the
company's directors and others.  Attorneys for those noteholders
sought to intervene in the Tomz case and had requested a hearing
for their law firms to be appointed the class-action
representatives.  They also wanted the court to prevent release
of any financial information until the matter was resolved.

One of the attorneys, John A. Hagins Jr., Esq., of Greenville,
said he was disappointed with Judge Miller's ruling.  "We
assumed that the motion to intervene would be heard prior to a
decision being made," he said.  "We are frankly astounded and
bewildered."


CARACO PHARMACEUTICAL: Faces Securities Fraud Lawsuits in Mich.
---------------------------------------------------------------
     Caraco Pharmaceutical Laboratories, Ltd. (NYSE Amex: CPD)
announced that on July 17, 2009 and July 23, 2009, two purported
federal securities class action lawsuits were filed in the
United States District Court for the Eastern District of
Michigan against the Company and certain of its executive
officers.  The defendants have not yet been served with either
suit.

     Plaintiffs purport to represent the class of persons who
purchased or otherwise acquired the common stock of the Company
generally between May 29, 2008 and June 25, 2009.  Plaintiffs
generally allege that during this time period defendants
violated federal securities laws, primarily related to public
statements on FDA compliance.

     The Company believes the plaintiffs' allegations are
without merit and intends to vigorously contest the actions.

Caraco Pharmaceutical Laboratories, Ltd. --
http://www.caraco.com/-- develops, manufactures, markets and
distributes generic and private-label pharmaceuticals to the
nation's largest wholesalers, distributors, drugstore chains and
managed care providers.


CERBERUS CAPITAL: Settles Pa. Suit by Ex-Anchor Glass Employees
---------------------------------------------------------------
Cerberus Capital Management, L.P., the largest shareholder of
the bankrupt Anchor Glass Container Corp. settled a class-action
lawsuit filed by 248 former employees for $480,000, Bobby Kerlik
of The Pittsburgh Tribune-Review

The suit was filed on Aug. 3, 2006 in the U.S. District Court
for the Western District of Pennsylvania by former Anchor Glass
employees Douglas Wissler and Gregory Vinoski, under the
caption, "Wissler et al v. Cerberus Capital Management, L.P. et
al, Case No. 2:06-cv-01042-DSC."

The employees sued after they claimed the Connellsville, Fayette
County, plant did not give the required 60 days notice when the
plant closed Nov. 4, 2004, and laid off more than 300 employees.

Attorneys for the plaintiffs said they could seek up to 40
percent of the settlement for attorneys' fees, leaving $288,000
to be split among the 248 workers, or $1,161 each.

The workers had sued New York-based Cerberus Capital, since a
prior lawsuit against Anchor Glass was wiped out after the
company filed for bankruptcy in August 2005.

The lawsuit claimed the company violated the Worker Adjustment
Training and Notification (WARN) Act, which requires 60 days of
advance notice of a plant closure, according to the lawsuit.

For more details, contact:

          Gregory T. Kunkel, Esq. (greg.kunkel@verizon.net)
          Kunkel & Fink, LLP
          Brentwood Professional Bldg.
          4411 Stilley Road, Suite 206
          Pittsburgh, PA 15227
          Phone: (412) 885-3880
          Fax: (412) 885-3883


CSX CORP: Lawyers Set to Seeks Class Certification for Ohio Suit
----------------------------------------------------------------
Attorneys for plaintiffs in a lawsuit against CSX Corp. over an
October train accident in Painesville, Ohio are scheduled to
formally appeal to turn the case into a class-action lawsuit
involving as many as 1,300 people, Patrick O'Donnell of The
Plain Dealer reports.

The attorneys are set to make their request this August.  If
successful, the lawsuit against the railroad company over the
October 2007 train derailment and chemical explosion might grow
a lot larger in the next few months, according to The Plain
Dealer.

John Arthur Hutchison of News-Herald.com previously reported
that the incident remains under investigation by the National
Transportation Safety Board (Class Action Reporter, Jan 15,
2008).

Thirty-two train cars were involved in the Painesville
derailment, including five that caught fire, and about 1,300
residents were evacuated from the area, officials said.


DAVID HERNANDEZ: Faces Ill. Litigation Over $12M Ponzi Scheme
-------------------------------------------------------------
A suburban Chicago couple has filed a class-action suit against
a businessman and Web site promoter accused in a $12 million
Ponzi scheme, Chicago Sun-Times reports.

Fred and Linda Samp of Deer Park are suing David Hernandez on
behalf of investors who lost money in the scheme.  The couple's
suit also names all of Mr. Hernadez's companies and several
business associates, according to Chicago Sun-Times.

According to couple's attorney, Mark Belongia, Esq., investors
could recover millions of dollars for their initial investments,
damages and fees, reports Chicago Sun-Times.

Chicago Sun-Times reported that Mr. Hernandez has pleaded not
guilty to charges that he promised victims returns of up to 16
percent on investments that he never made.  He paid some victims
with money from new investors.  Mr., Hernandez is currently
jailed in Chicago without bond.


DELAWARE: Officials Face Litigation Over "Sports Betting Scheme"
----------------------------------------------------------------
Delaware Governor Jack A. Markell and Wayne Lemons, the Director
of the Lottery Office, are facing a purported class-action suit
over the state's sports betting, which falls under the umbrella
of the state lottery, USA Online Gambling News reports.

The suit was filed on July 24, 2009 in the U.S. District Court
for the District of Delaware by the Office of the Commissioner
of Baseball, the National Basketball Association, the National
Collegiate Athletic Association, the National Football League
and the National Hockey League, under the caption, "Office of
the Commissioner of Baseball et al v. Markell et al., Case No.
1:2009-cv-00538."

It seeks to challenge the constitutionality of Delaware's
"Sports betting scheme" as it pertains to not only the federal
scale, but also Delaware's own constitution, according to USA
Online Gambling News.

The plaintiffs claim that the sports betting "scheme" is an
affront to professional sports.  They claim that sports betting
undermines the morality of professional sports, leading to the
risk of corruption.

Rhe plaintiffs continue with the fact that, while Delaware
was/is allowed to have sports betting in its previous form
(parlay type bets) before Congress enacted a law barring sports
betting within the states, Delaware is violating that same law
by now introducing single game betting.  They argue that this is
against the law and the whole affair should be stopped before it
is to start, reports USA Online Gambling News.

Delaware once had sports betting, but only on parlay type bets.
The law that congress signed into effect in 1992 stated that
they would only be able to resume that form of betting, and this
is the main grounds on which the plaintiffs have built their
case.

Sports betting was to be enacted before the opening of the NFL
regular season in early September, and the NFL wants this to not
happen, USA Online Gambling News reports.

USA Online Gambling News reported that the burden of proof lies
on the plaintiff, so their lawyers will have to prove, beyond a
reasonable doubt, that the gambling that will take place is, in
fact, against the law.  Ultimately, the judge or judges within
the District of Delaware will have to make a decision.

For more details, contact:

          Kenneth J. Nachbar, Esq. (knachbar@mnat.com)
          Morris, Nichols, Arsht & Tunnell
          1201 North Market Street
          P.O. Box 1347
          Wilmington, DE 19899
          Phone: (302) 575-7294
          Fax: (302) 425-3013


DELL INC: Texas Court Approves $9.1M Gender Discrimination Deal
---------------------------------------------------------------
The U.S. District Court for the Western District of Texas gave
preliminary approval to the $9.1 million settlement in the
gender bias class-action lawsuit entitled, "Hubley v. Dell Inc.,
Case No. 1:08-cv-00804-JRN," Joel Rosenblatt of Bloomberg
reports.

The Associated Press previously reported that Dell, Inc. agreed
to settle a federal gender-discrimination class action lawsuit
for $9.1 million (Class Action Reporter, July 27, 2009).

The class is defined as all women employed by Dell for at least
one day at C1 through D3 level positions between Feb. 14, 2007,
and Dec. 31, 2008.  They will receive $5.6 million, and the
remaining $3.5 million will be used to raise the salaries of
females working in those positions to match those of their male
counterparts after Dell conducts a review of salaries, The
Associated Press reported.

According to court documents obtained by Bloomberg, Judge James
R. Nowlin of U.S. District Court for the Western District of
Texas issued a preliminary approval of the settlement on July
24, 2009.  A final hearing to approve the settlement is
scheduled for Oct. 23, 2009.

Under the settlement, Dell also agreed to hire an expert
psychologist to review its employment practices and a labor
economist who may recommend pay adjustments for female employees
in some positions, according Bloomberg.

Dell agreed that any pay adjustments will be implemented
retroactively to May 31, 2009, "so that any delays in completing
the study will not bear on" members of the class action,
according to a filing obtained by Bloomberg.

The suit was filed by two female former employees, Jill Hubley
and Laura Guenther on Oct. 29, 2008.  Ms. Hubley was a senior
strategist at a Dell division in Round Rock, Texas, where the
company is based.  Ms. Guenther, a former Dell senior manager at
the same location later joined Ms. Hubley in the case, reports
Bloomberg.

Bloomberg reported that the litigation claimed that Dell
"systematically denied equal employment opportunities to its
female employees" in compensation and promotions.  The company
discriminated against women in training, in assignments of
positions outside the U.S. and in programs designed to
accelerate advancement, according the complaint.

For more details, contact:

          Jennifer Knauth, Esq. (jknauth@scottdoug.com)
          Scott, Douglass & McConnico, L.L.P.
          600 Congress Avenue, 15th Floor
          Austin, TX 78701-2589
          Phone: (512) 495-6300
          Fax: (512) 474-0731

               - and -

          Tonia Lea Lucio, Esq. (tlucio@hslawmail.com)
          Hance Scarborough LLP
          111 Congress Avenue
          Suite 500
          Austin, TX 78701
          Phone: (512) 479-8888
          Fax: (512) 482-6891


DEPARTMENT OF THE INTERIOR: Head Faces Suit by BIA, BIE Workers
---------------------------------------------------------------
Kenneth L. Salazar, Secretary of the U.S. Department of the
Interior (DOI) is facing a purported class-action filed by
Navajo citizens currently or formerly employed by the Bureau of
Indian Affairs (BIA) or Bureau of Indian Education (BIE), Alysa
Landry of The Daily Times.

The suit was filed in the U.S. District Court for the District
of New Mexico by two former employees, Beatrice Woodward and
Calandra McCabe, under the caption, "Woodward et al v. Salazar,
Case No. 1:09-cv-00719-LFG-RHS."

The complaint seeks relief from racial discrimination, a charge
based on numerous accounts of Navajo employees targeted for
removal to make room for non-Navajo employees.  It also includes
allegations that BIE management preselected people for positions
and even wrote job descriptions for non-Navajo employees,
excluding qualified Navajo applicants from consideration,
according to The Daily Times.

Most BIA or BIE agencies, including grant schools, are subject
to Navajo preference laws, which instructs employers to hire a
qualified Navajo applicant over a qualified non-Navajo.

One of the plaintiffs, Beatrice Woodward claims she was forced
to retire as an education line officer for the BIE when she was
reassigned suddenly to supervise a school in Portland, Oregon,
reports The Daily Times.

According to the complaint, a copy of which was obtained by The
Daily Times, Ms. Woodward was given five days to either move
from the Navajo Nation to Oregon, or retire.  Ms. Woodward
worked for the BIE for 36 years.

The other plaintiff, Calandra McCabe, alleges she was denied
employment advancement opportunities within the BIA's Office of
Facilities, Management and Construction, where she worked as an
architect.  She claims applications for management opportunities
were rejected, including attempts to obtain training and
education, reports The Daily Times.

The suit covers all current and past Navajo citizens of all pay
grades employed by the BIA or BIE between Jan. 1, 2000, and the
present who were subjects of alleged discrimination, The Daily
Times reported.

According to the complaint, "The members of the class, as Navajo
tribal members whose employment has been adversely affected as a
result of decisions of the BIA, is so numerous that joinder of
all members is impracticable."  It further states, "Because the
damages suffered by each individual class member vary, the
expense and burden of individual litigation make it virtually
impossible for all class members to seek redress for the
wrongful conduct alleged herein."

For more details, contact:

          Jeffrey A. Dahl, Esq. (jad@keleher-law.com)
          Keleher & McLeod, P.A.
          P.O. Box AA
          Albuquerque, NM 87103
          Phone: 505-346-4646
          Fax: 505-346-1370


EPSON CANADA: Settles Consumer Lawsuits Over Inkjet Cartridges
--------------------------------------------------------------
     On June 26, 2009, the law firms, Sugden, McFee & Roos LLP
and Pollock & Company finalized the settlement of 2 Class
Actions against Seiko Epson Corporation, Epson America Inc. and
Epson Canada Ltd.

     These law suits were filed on behalf of petitioners Douglas
Ernest Smith (court file No. L051418) in the Supreme Court of
British Columbia, Vancouver Registry, and Michael Herda (court
file CI 07-01-51269) in the Manitoba Court of Queen's Bench,
Winnipeg Center.

     This settlement, which has been reached without any
admission of liability by Epson, is made on behalf of all
British Columbia and Manitoba consumers of Epson Inkjet
cartridges for Qualifying Printers.

     This settlement was approved by the Supreme Court of
British Columbia (Honourable Madame Justice Griffin) and by the
Manitoba Court of Queen's Bench (Honourable Mr. Justice Kaufman)
in a joint hearing that took place on June 26, 2009.

     The settlement provides that all individual members of the
class may receive one of the following benefits for each Epson
Inkjet printer specifically identified in the settlement, and
purchased between November 1, 2002 and September 1, 2006:

       -- a $45 credit in the form of an E-Store code, which
          would be valid for twelve months,

       -- the sum of $20, payable by cheque, and a $20 credit in
          the form of an E-Store code, or

       -- a one-time 25% E-Store discount to a maximum value of
          $100.

For more details, contact:

          Administrator: Epson Class Action
          Rust Consulting, Inc.
          625 Marquette Avenue
          Suite 880
          Minneapolis, MN 55402 USA
          Fax: 1-866-458-3183
          e-mail: epsonclassaction@rustconsulting.com
          Web site: http://www.epsonsettlementcanada.com

          Sugden, McFee & Roos LLP, Barristers & Solicitors
          No. 700 375 Water Street
          Vancouver, BC, V6B 5N3
          Phone: (604) 687-7700
          Fax: (604) 687-5596

               - and -

          Pollock & Company, Barristers & Solicitors
          1120-363 Broadway
          Winnipeg, MB, R3C 3N9
          Phone: (204) 956-0450
          Fax: (204) 947-0109


LANSBRIDGE UNIVERSITY: B.C. Court Certifies Students' Lawsuit
-------------------------------------------------------------
Former students of the now-defunct Lansbridge University in
Vancouver have been given a green light to proceed with a class-
action lawsuit against the school and its owner Michael Lo,
writes Janet Steffenhagen of Report Card.

The B.C. Supreme Court certified the lawsuit in a ruling in
response to an application from former student Joseph Brahmana,
who attended the university from September 2006 until May 2007,
when it was ordered closed for violating provincial laws,
according to Report Card.

Mr. Brahmana is accusing the school of breach of contract and
misrepresentation and Lo of negligence.  The court's recent
ruling means the case may go to trial, Report Card reported.

The class-action suit is open to "all persons enrolled at
Lansbridge who suffered damages or loss upon Lansbridge closing
down on or about May 1, 2007."  The action currently involves
Mr. Brahmana and three other students, Report Card reports.


LEXISNEXIS RISK: Faces FCRA Violations Lawsuit in Illinois
----------------------------------------------------------
LexisNexis Risk & Information Analytics Group, Inc. faces a
purported class-action lawsuit that accuses it of mismatching
information about people in consumer reports and publishing the
mistakes to third parties, A.E. Young of The Courthouse News
Service reports.

The suit was filed on July 10, 2009 in the U.S. District Court
for the District of Illinois by James M. Williams, under the
caption, "Williams v. LexisNexis Risk & Information Analytics
Group, Inc., Case No. 1:2009-cv-04149."

It claims LexisNexis' reports included details about people who
were not the intended subjects, due to its failure to correctly
identify consumer data.  The company's publication of the
inaccurate data was intentional and reckless, the complaint
states, and is in violations of the Fair Credit Reporting Act,
The Courthouse News Service reported.

The plaintiff demands statutory and punitive damages and costs,
according to The Courthouse News Service.


LOCKHEED MARTIN: Bid to Remove Firm in Pension Plans Suit Denied
----------------------------------------------------------------
The judge presiding over a class-action lawsuit accusing
Lockheed Martin Corp. of mishandling two employment pension
plans has denied a bid by the defense contractor to disqualify
plaintiffs firm Schlichter Bogard & Denton LLP from acting as
lead counsel in the case, Law360 reports.

Lockheed sought to remove the law firm as class counsel on the
grounds that the firm was fighting to unseal confidential
documents in the case for use in other litigation, according to
Law360.


MEDAREX INC: Faces Investor's Suit Over Bristol-Myers Agreement
---------------------------------------------------------------
     An angry investor has filed a proposed class action lawsuit
in the United States District Court of New Jersey on behalf of
current investors of Medarex, Inc. (NASDAQ: MEDX), who purchased
the shares before July 22, 2009, alleging breaches of fiduciary
duty in connection with an alleged unfair takeover price.

     On July 22, 2009, Bristol-Myers Squibb Co. (NYSE: BMY) and
Medarex, Inc. announced that "the companies have signed a
definitive merger agreement providing for the acquisition of
Medarex by Bristol-Myers Squibb, for $16.00 per share in cash."
Furthermore the companies said, that "the transaction has been
unanimously approved by the boards of directors of both
companies."

     The plaintiff alleges that Medarex, certain members of the
board of directors of MEDX breached their fiduciary duty by
attempting to sell Medarex to Bristol-Myers Squibb Co. without
properly engaging in a competitive bidding process for the sale
and during a period of unusual market instability that has
driven down the price of Medarex stock for macroeconomic reasons
unrelated to the fundamental value of the Company.

     The plaintiff also alleges that the proposed acquisition is
a "unfair process and at a inadequate and unfair price" and
therefore the defendants breached their fiduciary duty of
loyalty, independence and fair dealing owed to the investors of
Medarex and rather acted "to put their person interests ahead"
and "have take steps to avoid a competitive bidding process" by
including in the merger agreements provisions a "no shop -
provision" with a termination fee of $70.80 million.  The
plaintiff accuses that the current investors of Medarex will
suffer irreparable injury "as a result of an unfair process,"
that "they will not receive fair portion of the value of
Medarex's assets and businesses," and that they will not receive
"a fair price for their common stock" as the defendants have
failed to "properly value the company."


MINNESOTA: Political Activist Sues Governor Over "Unallotments"
---------------------------------------------------------------
A Republican political activist filed suit Friday in an attempt
to block Minnesota Gov. Tim Pawlenty's "unallotment" of refunds
for small donations to political campaigns, Bob Von Sternberg of
The Minneapolis Star Tribune reports.

Bob Carney Jr., of Minneapolis, filed the suit in Ramsey County
District Court, according to The Minneapolis Star Tribune

Gov. Pawlenty eliminated the refund program as part of his wide-
ranging, unilateral spending cuts designed to close Minnesota's
$2.7 billion budget gap.

The Political Contribution Refund program was expected to cost
$10 million during the two-year budget cycle that began July 1,
2009.  Under the program, candidates who agree to abide by state
campaign spending limits were allowed to seek contributions of
up to $50 from individuals and $100 from married couples with
the state reimbursing the full amount to the contributor,
reports The Minneapolis Star Tribune.

In his suit, Mr. Carney says he contributed $50 to the Fifth
Congressional District Green Party on or after July 1, 2009, the
day the budget unallotments kicked in, The Minneapolis Star
Tribune reported.

His suit argues that the state revenue commissioner, acting on
Gov. Pawlenty's behalf, violated state law by failing to give
him his refund.

Mr. Carney argues that the governor has no statutory authority
to eliminate the refund.  He also argues that his lawsuit should
be considered a class-action case, because of the potentially
large number of political contributors who could be affected by
the elimination of the refund, The Minneapolis Star Tribune
reports.


REED ELSEVIER: Faces Subscribers' Litigation in California
----------------------------------------------------------
Reed Elsevier, Inc., which owns and operates the LesixNexis
legal research site, is facing a purported class-action lawsuit
accusing it of charging subscribers extra fees for searches
without warning them, Maria Dinzeo of The Courthouse News
Service reports.

The suit was filed on July 20, 2009 in the U.S. District Court
for the Northern District of California by Andrew Dieden, under
the caption, "Dieden v. Reed Elsevier, Inc., Case No. 3:2009-cv-
03319."

It claims subscribers are not informed they must click the "My
Lexis" tab before conducting a search, to avoid the extra
charges, according to The Courthouse News Service.

The plaintiff seeks actual, statutory and general damages for
breach of contract, fraud, negligent misrepresentation and
unjust enrichment, The Courthouse News Service reported.


THINKORSWIM GROUP: Sept. 30 Hearing Set for Ill. Suit Settlement
----------------------------------------------------------------
The Circuit Court of Cook County, Illinois County Department,
Chancery Division will hold a fairness hearing on Sept. 30,
2009, at 11:00 a.m. for the proposed settlement of a purported
class-action lawsuit against thinkorswim Group Inc. and TD
AMERITRADE Holding Corp.'s over a merger agreement.

The hearing will be held before the Honorable Mary Anne Mason,
at the Richard J. Daley Center, 50 West Washington Street,
Chicago, IL 60602, Courtroom 2510.

thinkorswim Group Inc. and TD AMERITRADE Holding Corp.'s
settlement agreement of a consolidated amended class action
complaint in Illinois filed following the announcement of a
planned merger is pending court approval (Class Action Reporter,
June 11, 2009).

On May 28, 2009, TD AMERITRADE and thinkorswim entered into a
memorandum of understanding with the plaintiffs in certain class
action lawsuits filed on behalf of thinkorswim's stockholders
regarding the settlement of those class action lawsuits that
were filed following the announcement of the Agreement and Plan
of Merger, dated as of Jan. 8, 2009, between thinkorswim, TD
AMERITRADE, Tango Acquisition Corporation One, a wholly-owned
subsidiary of TD AMERITRADE ("Merger Sub One"), and Tango
Acquisition Corporation Two, a wholly-owned subsidiary of TD
AMERITRADE ("Merger Sub Two").

Two purported class-action lawsuits were filed on behalf of
thinkorswim's stockholders in the Circuit Court of Cook County,
Illinois docketed as "Jonathan Simons v. Tom Sosnoff, et al.,
Case No. 09CH02970," and "Jim Burns v. thinkorswim Group Inc.,
et al., Case No. 09CH03435."

The complaints name each of the members of thinkorswim's board
of directors, thinkorswim, TD AMERITRADE and Merger Sub One as
defendants.

The lawsuits allege, among other things, that the members of
thinkorswim's board of directors breached their fiduciary duties
to thinkorswim's stockholders by entering into a merger
agreement with TD AMERITRADE for an unfair price and pursuant to
an unfair sale process.  They also allege that thinkorswim's
directors are attempting to obtain personal financial benefits
at the expense of thinkorswim's stockholders.  The complaints
further allege that TD AMERITRADE and Merger Sub One aided and
abetted the directors of thinkorswim in the alleged breaches of
their fiduciary duties.

The complaints were consolidated by court order dated Feb. 25,
2009.

On March 5, 2009, plaintiffs filed a consolidated amended
complaint.  The amended complaints include additional
allegations that the Proxy Statement/Prospectus does not
disclose certain material information.  The consolidated amended
complaint also alleges, among other things, that the disclosures
regarding the proposed stock option exchange program were
insufficient and/or unclear and that the company should have
provided separate votes on the two components of the stock
option exchange program.

The amended complaint seeks, among other relief, certification
of a class of all common stockholders of thinkorswim who
allegedly were harmed by the defendants' actions challenged in
the complaint, preliminary and permanent injunctions prohibiting
consummation of the merger, rescission or damages if the merger
is consummated prior to entry of the court's final judgment and
payment of the plaintiff's costs and expenses.

On May 7, 2009, plaintiff Jonathan Simons voluntarily dismissed
his action without prejudice.

According to its May 29, 2009 Form 8-K filing with the U.S.
Securities and Exchange Commission, thinkorswim and TD
AMERITRADE continue to believe the lawsuits to be without merit.
Nevertheless, without admitting any liability or wrongdoing,
thinkorswim and TD AMERITRADE have agreed in principle to settle
the lawsuits in order to avoid the potential cost and
distraction of continued litigation and to eliminate any risk of
any delay to the closing of the merger posed by these lawsuits.
Such settlement is subject to execution and delivery of
definitive documentation, the closing of the merger and court
approval.  If the settlement becomes effective, the lawsuits
will be dismissed with prejudice.

For more details, contact:

          Theresa L. Davis, Esq. (theresa.davis@kattenlaw.com)
          Katten Muchin Rosenman LLP
          525 West Monroe Street
          Chicago, IL 60661-3693
          Phone: 312.902.5206 or 312-902-5200
          Fax: 312.577.4725

               - and -

          Claims Administrator
          c/o Gilardi & Co. LLC
          P.O. Box 8040
          San Rafael, CA 94912-8040
          Web site: http://www.gilardi.com/


TIMBERCORP: Investors Launch AUD$240M Litigation Over Collapse
--------------------------------------------------------------
Timbercorp investors who lost more than AUD$240 million when the
agribusiness collapsed launched a class-action lawsuit against
the company, ABC Online reports.

Macpherson and Kelley Solicitors is representing 1600 people
across Australia who lost money when the company went under,
according to ABC Online.

Lawyer Ron Willemsen told ABC Online his clients want the court
to declare their investment loans invalid, because Timbercorp
finance failed to disclose to investors that the company was on
the verge of collapse.

"Like we have done with Timbercorp, we will seek a declaration
from the court that the particular loans are to be set aside as
invalid, therefore people being excused from having to make any
further payment on the basis of non-disclosure that the Great
Southern companies were on the verge of collapse," he tells ABC
Online.


WACHOVIA BANK: Still Faces Fla. Litigation Over Overdraft Fees
--------------------------------------------------------------
Wachovia Bank NA continues to face a class-action complaint in
the U.S. District Court for the Southern District of Florida,
alleging it cheated at least 200,000 customers of millions of
dollars in overdraft fees by failing to post transactions in
chronological order, John Pacenti of The Daily Business Review
reports.

The Courthouse News Service previously reported the plaintiff
claims Wachovia delays processing small transactions and
processes larger, later ones first, so it can wrongfully charge
repeated "overdraft" fees (Class Action Reporter, Sept. 10,
2008).

The Case was filed by Melanie Garcia in 2008.  It specifically
claims, "Wachovia routinely enforces a policy whereby charges
incurred are posted to consumers' accounts in nonchronological
order designed to maximize the number of overdraft fees," The
Daily Business Review reports.

Ms. Garcia contends Wachovia's "scheme" abused contract rights
and amounted to bad faith.  She is seeking class action status
for her suit, according to The Daily Business Review.

Pursuant to Fed. R. Civ. P. 23, the plaintiffs bring this action
on behalf of all persons who suffered injuries as a result of
Wachovia's fraudulent, deceptive, unfair, and abusive business
practices.

The plaintiffs ask the court:

     -- for certification of this matter as a class action
        lawsuit to proceed on behalf of the class of all
        currently unnamed plaintiffs after suitable discovery
        has been completed;

     -- for injunctive relief;

     -- for restitution;

     -- for an award of such damages as are authorized by law;

     -- for an award of all reasonable costs and attorneys' fees
        incurred by plaintiff;

     -- for trial by jury of all matters; and

     -- for such other and further relief as the court may deem
        just and equitable.

The suit is "Melanie L. Garcia, et al. v. Wachovia Bank NA, Case
1:08-cv-22463-MGC," filed in the U.S. District Court for the
Southern District of Florida.

Representing the plaintiffs are:

          Jeremy W. Alters, Esq.
          Kimberly L. Boldt, Esq.
          Alters Boldt Brown Rash & Culmo PA
          4141 N.E. 2nd Avenue
          Phone: 305-571-8550
          Fax: 305-571-8558


* Filings Remain High, Median Settlements Under $10M, NERA Says
---------------------------------------------------------------
     Shareholder class action filings reached 127 for the first
half of 2009, driven by the continued surge of Ponzi scheme and
credit crisis allegations, according to a report released today
by NERA Economic Consulting.

     NERA's report, Recent Trends in Securities Class Actions
Litigation: 2009 Mid-Year Update, shows that cases related to
the credit crisis represent over 40% of these filings, and 20%
were related to the Ponzi scheme allegations of Bernard Madoff,
R. Allen Stanford, Howard K Waxenberg, and others.

     Although filings peaked in March 2009 with 31 cases, and
gradually declined each month in the second quarter of this
year, filings currently remain on track to match the 2008 level.
The aggregate investor losses associated with the cases filed in
the first six months of 2009 are over $158 billion.

Settlement Values Remain Steady

     Historically, median settlement values for shareholder
class action lawsuits have been under $10 million, and this
trend has continued in 2009.  In the first half of 2009, the
median settlement was $8 million, the same as in 2008.  Almost
10% of the settlements in 2009 have been for more than $100
million, making the average 2009 settlement $43 million.

Credit Crisis Cases Outlook

     "As a large amount of the recent litigation activity is
related to the credit crisis, most credit crisis cases remain
pending," according to report co-author and NERA Senior
Consultant Dr. Stephanie Plancich.  "Only a small fraction of
cases have been dismissed, and just three credit crisis cases
have settled to date.  Given this pattern, it is too early to
say for sure how these cases may ultimately resolve."

Other Notable Key Trends

       -- Fillings have continued to mass in the Second Circuit,
          due to the heavy concentration of credit crisis-
          related cases clustered there.

       -- For the first six months in 2009, 58 shareholder class
          actions have settled.

       -- Looking at cases by age at the time of resolution, a
          higher fraction of cases have been dismissed since the
          Supreme Court's ruling in Dura in April 2005.

       -- 67% of cases filed in 2009 name at least one financial
          company as primary or co-defendant, compared to 50% in
          2008.

       -- In the first half of 2009, 19 filings, or 15% of all
          cases filed, named a foreign company as a primary
          defendant-this is the highest percentage of foreign
          defendants ever observed post-PSLRA.

A copy of the full report is available free of charge at:
              http://www.nera.com/recenttrends


                   New Securities Fraud Cases

SKILLED HEALTHCARE: Rosen Law Firm Files Securities Fraud Suit
--------------------------------------------------------------
     The Rosen Law Firm, P.A. filed a class action lawsuit on
behalf of all purchasers of Skilled Healthcare Group, Inc.
(NYSE: SKH) common stock during the period from May 14, 2007
through June 9, 2009, inclusive (the "Class Period").  The
lawsuit alleges violations of the federal securities laws and
seeks to recover losses for Skilled Healthcare shareholders.

The case is pending in the United States District Court for the
Central District of California as case no. CV-09-5416.

     The complaint charges Skilled Healthcare and certain of its
officers and directors violated the federal securities laws by
misrepresenting the true amount of its income in its IPO
prospectus and in other SEC filings and public communications.
In an announcement dated June 9, 2009, Skilled Healthcare
announced that the Company's prior financial statements for the
annual and quarterly periods between January 1, 2006 and March
31, 2009 should no longer be relied upon and that the Company
expected to restate those financial statements.  According to
the announcement, Skilled Healthcare discovered errors relating
to its accounting for reserves on its accounts receivable.  The
Company estimated that the cumulative charges against after-tax
earnings in the aggregate would be between $8 million and $9
million.  The Complaint alleges that this adverse disclosure
caused the value of Skilled Healthcare's stock to fall, damaging
investors.

     Plaintiff seeks to recover damages on behalf of all
purchasers of Skilled Healthcare common stock during the Class
Period, including purchasers of Skilled Healthcare's common
stock in the IPO on or about May 14, 2007.

     A request for lead plaintiff status must satisfy certain
criteria and be made on or before Sept. 22, 2009.

For more information, contact:

         Laurence Rosen, Esq.
         Phillip Kim, Esq.
         The Rosen Law Firm P.A.
         350 5th Avenue, Suite 5508
         New York, NY 10118
         Phone: 212-686-1060
         Weekends Tel: 917-797-4425
         Toll Free: 1-866-767-3653
         Fax: 212-202-3827
         Web site: http://www.rosenlegal.com/


                            *********

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the Class Action Reporter.  Submissions
via e-mail to carconf@beard.com are encouraged.

Each Friday's edition of the CAR includes a section featuring
news on asbestos-related litigation and profiles of target
asbestos defendants that, according to independent research,
collectively face billions of dollars in asbestos-related
liabilities.

                            *********

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 S. Senorin, Gracele D. Canilao, and Peter A.
Chapman, Editors.

Copyright 2009.  All rights reserved.  ISSN 1525-2272.

This material is copyrighted and any commercial use, resale or
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Information contained herein is obtained from sources believed
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                * * *  End of Transmission  * * *