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Universal Food and Beverage Company Summary: According to a news article published June 10, 2008, Universal Food & Beverage Co. is facing a class-action complaint alleging its directors sold $20 million of their preferred stock while artificially propping up the share price.
Plaintiffs contend that the sale of this preferred stock was improperly and fraudulently made by defendants who are officers and directors of the company.
Plaintiffs want the court to rule on: (a) whether defendants' actions as alleged violated the federal securities laws; (b) whether statements made by defendants to the investing public during the class period misrepresented material facts about the business, prospects, operations and management of Universal; and (c) the extent to which the members of the class have sustained damages and the proper measure of damages.
On September 15, 2008, the plaintiffs filed an Amended Complaint adding claims. On September 24, 2008, a motion hearing was held before Honorable Charles P. Kocoras. At the hearing, the plaintiffs’ motion to voluntarily dismiss defendant John Levy without prejudice is granted. On March 10, 2009, the plaintiffs filed a Second Amended Complaint. On April 7, 2009, the defendant filed a motion to dismiss for improper venue and motion to dismiss the Second Amended Complaint for failure to state a claim.
On May 29, 2009, the Honorable Charles P. Kocoras ruled that the venue is not proper in this district and the motion to dismiss under Rule 12(b)(3) is granted, without prejudice to refiling in a proper venue. Since the complaint is no longer extant, the concurrent motion to dismiss for failure to state a claim is denied as moot. On June 3, 2009, the plaintiffs filed a motion for an order altering or amending the judgment entered on May 29, 2009 and transferring this case to the United States District for the Southern District of New York. According to the minute entry dated June 10, 2009, the Clerk of Court is directed to transfer this case to the United States District Court for the Southern District of New York.
INDUSTRY CLASSIFICATION:
SIC Code: 2870
Sector: Consumer Non-Cyclical
Industry: Beverages (Non-Alcoholic)
| COMPANY/ISSUER NAME: | Universal Food and Beverage Company |
| COMPANY/ISSUER TICKER: | UFBV |
| COMPANY WEBSITE: |
| FIRST IDENTIFIED COMPLAINT IN THE DATABASE | |||||||||||||||||
| Crestview Capital Masters LLP, et al. v. Universal Food And Beverage Corporation, et al. | |||||||||||||||||
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| DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT | |||
| Complaint | |||
| Type: Complaint | Date on the document: 6/5/2008 | ||
| Amended Complaint | |||
| Type: Complaint | Date on the document: 09/15/2008 | ||
| Minutes | |||
| Type: Other | Date on the document: 09/24/2008 | ||
| Second Amended Complaint | |||
| Type: Complaint | Date on the document: 03/10/2009 | ||
| Defendant Marc Fry's Fed. R. Civ. P. Rule 12(b)(3) Motion To Dismiss For Improper Venue Pursuant To A Mandatory Forum Selection Clause | |||
| Type: Motion | Date on the document: 04/07/2009 | ||
| Defendant Marc Fry's Motion To Dismiss Plaintiffs' Second Amended Complaint Pursuant To Fed. R. Civ. P. 12(b)(6) | |||
| Type: Motion | Date on the document: 04/07/2009 | ||
| Judgment In A Civil Case | |||
| Type: Other | Date on the document: 05/29/2009 | ||
| Memorandum Opinion | |||
| Type: Memorandum | Date on the document: 05/29/2009 | ||
| Plaintiffs’ Rule 59(e) Motion To Alter Or Amend Judgment And To Transfer Case To The United States District Court For The Southern District Of New York | |||
| Type: Motion | Date on the document: 06/03/2009 | ||
| Minute Order | |||
| Type: Court Transfer Order | Date on the document: 06/10/2009 | ||
| U.S. District Civil Court Docket | |||
| Type: Docket | Date on the document: 06/10/2009 | ||
| REFERENCE COMPLAINT | |||||||||||||||||
| Crestview Capital Master, LLP, et al. v. Martin, et al. | |||||||||||||||||
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| DOCUMENTS FOR THE REFERENCE COMPLAINT | |||
| U.S. District Court Civil Docket | |||
| Type: Docket | Date on the document: 07/02/2009 | ||
| OTHER DOCUMENTS | |||
| Case Name and/or Number: | |||
| Type: | Date on the document: | ||
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