Feb 28, 2020 | Consumer Protection, Employment & Technology Archive
Kehoe Law Firm, P.C. is making consumers aware of the following Telephone Consumer Protection Act (“TCPA”) class action lawsuit filing:
JPMorgan Chase & Co.
Class action lawsuit filed on February 27, 2020 against JPMorgan Chase & Co. in United States District Court, Southern District of Florida, for, allegedly, “solicit[ing] consumers for its AARP Credit Card” with “unsolicited prerecorded message marketing with no regard for privacy rights of the recipients of those messages.”
According to the complaint, JPMorgan Chase & Co. “placed a prerecorded message call to Plaintiff’s cellular telephone number” from (800) 283-1211 “to promote [JPMorgan Chase & Co.’s] AARP Credit Card.” The complaint alleges that “[a]t no point in time did Plaintiff provide Defendant with [Plaintiff’s] express written consent to be contacted with marketing or promotional prerecorded messages on [Plaintiff’s] cellular telephone.”
Do You Believe You Are a Victim of Illegal Robocalls, Text Messages, “Junk” Faxes or Telemarketing Sales Calls?
If you have received illegal robocalls, text messages, “junk” faxes or telemarketing sales calls, you may be able to recover at least $500 for each illegal call, text or fax you received and, possibly, as much as $1,500 for each illegal call, text message or facsimile that was made either willfully or knowingly in violation of the Telephone Consumer Protection Act.
To help evaluate your potential legal claims under the Telephone Consumer Protection Act, please complete KLF’s confidential Robocall Questionnaire or, if you prefer to speak with an attorney, please complete the form above on the right, e-mail [email protected] or contact Michael Yarnoff, Esq., [email protected], (215) 792-6676, Ext. 804, for a free, no-obligation evaluation of your potential legal rights.
Feb 28, 2020 | Whistleblower
SEC Awards More Than $7 Million to a Whistleblower – Whistleblower’s Information and Assistance Deemed Critical to The Success of an Enforcement Action
On February 28, 2020, the Securities and Exchange Commission announced an award of more than $7 million to a whistleblower whose information and assistance were critically important to the success of an enforcement action. The whistleblower, according to the SEC, provided extensive and sustained assistance, such as identifying witnesses.
The SEC has awarded approximately $394 million to 73 individuals since issuing its first award in 2012. All payments are made out of an investor protection fund established by Congress that is financed entirely through monetary sanctions paid to the SEC by securities law violators. No money has been taken or withheld from harmed investors to pay whistleblower awards. Whistleblowers may be eligible for an award when they voluntarily provide the SEC with original, timely, and credible information that leads to a successful enforcement action. Whistleblower awards can range from 10 percent to 30 percent of the money collected when the monetary sanctions exceed $1 million.
As set forth in the Dodd-Frank Act, the SEC protects the confidentiality of whistleblowers and does not disclose information that could reveal a whistleblower’s identity.
Source: SEC.gov
Do You Have Questions or Concerns About Providing Information to the SEC About Securities Fraud?
If so, please know that Kehoe Law Firm’s legal team understands the issues associated with making the difficult decision to voluntarily come forward with information about securities fraud or other wrongdoing. Moreover, the Firm’s legal staff has extensive experience investigating and prosecuting fraud, as well as interacting with sources of information, especially brave, honest individuals who are willing to expose fraud committed against the United States government.
If you have questions or concerns about voluntarily providing information as a whistleblower to the SEC about violations of the federal securities laws, including questions about whistleblower award eligibility or the form and manner in which the information is required to be provided to the SEC, please contact Kehoe Law Firm, P.C. by completing the form above on the right or sending an e-mail to [email protected]. If you prefer to speak privately with an attorney, please contact either Michael Yarnoff, Esq., [email protected], (215) 792-6676, Ext. 804, or John Kehoe, Esq., [email protected], (215) 792-6676, Ext. 801.
Feb 28, 2020 | Consumer Protection, Employment & Technology Archive
Kehoe Law Firm, P.C. is making consumers aware of the following Telephone Consumer Protection Act (“TCPA”) class action lawsuit filing:
ICF Consulting Group, Inc.
Class action lawsuit filed on February 27, 2020 against ICF Consulting Group, Inc. in United States District Court for the Eastern District of Virginia to, according to the complaint, “stop ICF from violating the Telephone Consumer Protection Act by sending unsolicited, autodialed text messages to consumers, and to otherwise obtain injunctive and monetary relief for all persons injured by ICF’s conduct.”
According to the class action complaint, “[t]he problem with [ICF Consulting Group’s] surveys is that [ICF Consulting Group] do[es] not obtain prior consent from the consumer[] before sending out unsolicited autodialed text messages.” The Plaintiff, allegedly, “received an autodialed text message on her cell phone from [ICF Consulting Group]” from telephone number (984) 214-4572.
An example in the class action complaint of the text message the Plaintiff received is as follows:
Do You Believe You Are a Victim of Illegal Robocalls, Text Messages, “Junk” Faxes or Telemarketing Sales Calls?
If you have received illegal robocalls, text messages, “junk” faxes or telemarketing sales calls, you may be able to recover at least $500 for each illegal call, text or fax you received and, possibly, as much as $1,500 for each illegal call, text message or facsimile that was made either willfully or knowingly in violation of the Telephone Consumer Protection Act.
To help evaluate your potential legal claims under the Telephone Consumer Protection Act, please complete KLF’s confidential Robocall Questionnaire or, if you prefer to speak with an attorney, please complete the form above on the right, e-mail [email protected] or contact Michael Yarnoff, Esq., [email protected], (215) 792-6676, Ext. 804, for a free, no-obligation evaluation of your potential legal rights.
Feb 28, 2020 | Securities Class Action Archive
Kehoe Law Firm, P.C. Investigating Securities Claims Against Gulfport Energy Corporation on Behalf of GPOR Shareholders
Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of investors that purchased the securities of Gulfport Energy Corporation (“Gulfport Energy” or the “Company”) (NASDAQ: GPOR).
If you purchased Gulfport Energy stock and suffered losses, you are encouraged to contact either Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected], [email protected], or John Kehoe, Esq, (215) 792-6676, Ext. 801, [email protected], to learn more about the Gulfport Energy securities investigation or your potential legal claims.
In a February 27, 2020 Form 8-K filed with the SEC, Gulfport Energy disclosed that “. . . management of Gulfport Energy Corporation . . . concluded, and the Audit Committee . . . of the Company’s Board of Directors . . . concurred, that [Gulfport Energy’s] previously issued unaudited consolidated financial statements for the three and nine months ended September 30, 2019, which were included in [Gulfport Energy’s] Quarterly Report on Form 10-Q for the quarter ended September 30, 2019, which was originally filed with the Securities and Exchange Commission . . . on November 1, 2019 . . . should no longer be relied upon due to material misstatements.” [Emphasis added.]
Gulfport Energy stated that
[i]n the course of preparing the consolidated financial statements for the year ended December 31, 2019, the Company identified a misstatement of its depreciation, depletion and amortization and impairment of oil and gas properties as of September 30, 2019 of approximately $554 million ($436 million net of the tax benefit) related to unrecorded transfers of its unevaluated oil and natural gas properties into the amortization base. This error impacted the related calculations of [Gulfport Energy’s] depreciation, depletion and amortization and impairment of oil and natural gas properties for the three and nine month periods ended September 2019. Net (loss) income and income tax (benefit) expense have also been impacted.
Additionally, Gulfport Energy stated that it
. . . has determined that a material weakness in internal control over financial reporting existed as of September 30, 2019, and therefore the Company has concluded that its disclosure controls and procedures as of September 30, 2019 were not effective. Therefore, the Company’s previous evaluation of its disclosure controls and procedures as of September 30, 2019 should no longer be relied upon.
Shares of Gulfport Energy declined sharply on this news, thereby injuring Gulfport Energy investors.
Feb 28, 2020 | Securities Class Action Archive
Kehoe Law Firm, P.C. Investigating Securities Claims on Behalf of Sterling Bancorp Investors and Shareholders
Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of investors that purchased Sterling Bancorp, Inc. (“Sterling Bancorp” or the “Company”) (NasdaqCM: SBT) common stock: (a) pursuant and/or traceable to the Company’s initial public offering that commenced on or about November 17, 2017 (the “IPO”); and/or (b) between November 17, 2017 and December 8, 2019, inclusive (the “Class Period”).
On February 26, 2020, a class action lawsuit was filed against Sterling Bancorp, Inc. in United States District Court, Eastern District of Michigan, seeking to recover damages pursuant to §10(b) and §20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder, as well as alleging claims under §§11,12(a)(2) and 15 of the Securities Act of 1933.
According to the lawsuit, during the Class Period, and in connection with the Company’s IPO, the Sterling Bancorp Defendants made untrue statements of material fact and failed to disclose material facts concerning, among other things, Sterling Bancorp’s loan underwriting, risk management and internal controls, including repeatedly touting its strict underwriting, asset quality and the Advantage Loan Program.
On December 9, 2019, Sterling Bancorp disclosed the following information:
Sterling Bank and Trust, FSB, Southfield, Michigan (the “Bank”), a wholly-owned subsidiary of Sterling Bancorp, Inc. (the “Company”) voluntarily and temporarily suspended its Advantage Loan program in connection with an ongoing internal review of the program’s documentation procedures. Management believes it is prudent to temporarily halt the program as it continues to audit documentation on past loans and puts in place additional systems and controls to ensure the Bank’s policies and procedures are followed on loans originated under the program. It is the Company’s intention to resume the Advantage Loan program as soon as management is confident its stated policies and procedures are being followed. However, it is presently difficult to estimate how long this suspension might last.
The Advantage Loan program is a material component of the Bank’s total loan originations. While it is difficult to quantify the financial impact of the program’s temporary suspension, management anticipates a reduced level of near-term loan originations, slower overall loan portfolio growth, and less loan sales. However, management does not anticipate any credit related issues from previous loans made under the program due to the substantial amount of equity required for each borrower and the resulting strong collateral package for each loan. In order to mitigate the operational and financial impact of the Advantage Loan program’s temporary suspension, the Company will continue to work on initiatives to diversify its overall loan production. Such initiatives include expanding the Bank’s commercial lending efforts, including multifamily, tenant-in-common, construction, and commercial and industrial loans. In addition, management will continue to review new residential loan products that meet the needs of its customers in its served markets.
It is too early to assess the level of success that the Company will have in replacing the lost loan production volume from the Advantage Loan program’s temporary suspension. If the Company is unable to replace the lost production in a timely matter, or if a decision is made to alter the program, the Company’s results of operations could be materially and adversely affected. [Emphasis added.]
On this news, the Company’s stock price fell $2.16, or nearly 23%, closing at $7.29 per share on December 9, 2019, thereby injuring investors.
If you purchased Sterling Bancorp common stock, pursuant and/or traceable to Sterling Bancorp’s IPO and/or during the Class Period, and suffered losses, you are encouraged to contact either Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected], [email protected], or John Kehoe, Esq, (215) 792-6676, Ext. 801, [email protected], to learn more about the Sterling Bancorp securities investigation or your potential legal claims.
