Hello Lovemylimey,
Here are the results of my research for information about lawsuits and
complaints against IKON Office Solutions.
The United States District Court for the Eastern District of
Pennsylvania www.paed.uscourts.gov/ provides a number of detailed
documents addressing the IKON cases. Just follow the links to read
each one in its entirety.
March 1, 2000
2000-0087: Whetman v. Ikon (14 pages)
In Re IKON OFFICE SOLUTIONS, INC. SECURITIES LITIGATION
(WHETMAN v. IKON)
MDL DOCKET NO. 1318
(Docket No. 00-87)
http://www.paed.uscourts.gov/documents/opinions/00D0158P.HTM
March 14, 2000
2000-0087: Whetman v. Ikon Office (13 pages)
In Re IKON OFFICE SOLUTIONS, INC. SECURITIES LITIGATION
(WHETMAN v. IKON)
MDL DOCKET NO. 1318
(Docket No. 00-87)
http://www.paed.uscourts.gov/documents/opinions/00D0201P.HTM
August 9, 2002
2000-0087: In Re: Ikon Office Solutions, Inc. (20 pages)
Re IKON OFFICE SOLUTIONS, INC. SECURITIES LITIGATION
Whetman v. IKON, et al.)
MDL DOCKET NO. 1318
(Docket No. 00-87)
http://www.paed.uscourts.gov/documents/opinions/02D0608P.HTM
February 6, 2001 (49 pages)
Memorandum & Order
In Re IKON OFFICE SOLUTIONS, INC. SECURITIES LITIGATION
MDL DOCKET NO. 1318 NO. 98-CV-4286
http://www.paed.uscourts.gov/documents/opinions/01D0110P.pdf
June 12, 1998
ICON SOLUTIONS, INC.: CIVIL ACTION
v. :
IKON OFFICE SOLUTIONS, INC.: NO. 97-4178 (11 pages)
“Plaintiff ICON Solutions, Inc. charges Defendant IKON Office
Solutions, Inc. with trademark infringement and unfair competition
under the Lanham Act, 15 U.S.C. 1114 & 1125(a) (1994), and
corresponding Pennsylvania law.”
http://www.paed.uscourts.gov/documents/opinions/98D0599P.HTM
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Filed 01/11/02 No. 01-1553 (27 pages)
In Re. Ikon v. City of Philadelphia
Eastern District of Pennsylvania
Filed January 11, 2002
UNITED STATES COURT OF APPEALS
FOR THE THIRD CIRCUIT
No. 01-1553
IN RE: IKON OFFICE SOLUTIONS, INC.,
SECURITIES LITIGATION
Source: Villanova University School of Law
http://vls.law.villanova.edu/locator/3d/Jan2002/011553.txt
--------------------------------------------------
This article dated July 2003 describes the 1998 class-action suit
filed against Ikon Office Solutions.
“Kilgard represented workers in a successful 1998 class-action suit
filed in federal court in Philadelphia against Ikon Office Solutions
Inc., of Malvern.”
“Ikon settled the case last year by allowing employees with two years
or more of service to direct the company's match to any of the plan's
investment choices. Before, Ikon contributed stock until participants
reached age 55.”
“Ikon paid $6.4 million in plaintiffs' legal fees to settle the case,
according to court documents.”
“Ikon workers did not receive cash. The order noted that a "truly
large cash settlement" was not in the best interest of employees who
held jobs at Ikon and had 52 percent of their 401(k) plans tied up in
Ikon stock.”
Philly.com
http://www.philly.com/mld/inquirer/business/personal_finance/6253607.htm
--------------------------------------------------
In a 1999 report to shareholders, James J. Forese, President and Chief
Executive Officer of IKON Office Solutions explained the
situation like this:
“On November 24, 1999, we announced that the Company agreed to settle
the securities class-action and derivative lawsuits brought by
shareholders back in 1998. The litigation had contended that the
Company failed to make appropriate financial disclosures from
January 1996 through August 1998. This settlement does not
reflect any admission of liability by IKON, and there has been
no finding of any violation of federal securities laws. The
Board of Directors and management decided to settle the litigation
only after carefully
weighing several factors, including the always uncertain outcome of a
jury trial, the escalating costs of protracted litigation, and the
constant and significant diversion of the management team from
its focus on sustaining progress and continuing to move this Company
ahead. Rather than submit to these risks, we agreed to pay $111
million (which resulted in a net charge of $66.7 million, after taxes,
insurance, and legal expenses) to settle the case and put the issue
firmly behind us.”
IKON
http://www.ikon.com/corporate/pdf/99ARLetter.pdf
--------------------------------------------------
Here is a short excerpt from an IKON 1999 press release:
IKON SETTLES SHAREHOLDER LITIGATION
“IKON Office Solutions announced that it has reached an agreement
today to settle, subject to court approval, the securities
class-action and derivative lawsuits brought by its shareholders. The
litigation had contended that the Company had failed to make
appropriate financial disclosures.”
IKON
http://www.ikon.com/reading/press-releases/archives/archive_content.asp?prTXT=112499
--------------------------------------------------
From a USA Today article dated August 20, 2001:
“A class-action lawsuit is pending against Ikon Office Solutions, a
Valley Forge, Pa., provider of copier and printing systems. It charges
Ikon violated its fiduciary duty by putting its stock into the 401(k)
plan.”
Read the complete article here:
http://www.usatoday.com/tech/techinvestor/2001-08-20-workers-sue-401k.htm
--------------------------------------------------
In re IKON v. Ernst & Young LLP.
“The Eastern District of Pennsylvania granted our motion for summary
judgment in favor of our client, Ernst & Young, LLP, in a major
shareholder class action, In re IKON Securities Litigation.
Plaintiffs, represented by Milberg Weiss and a host of others, alleged
that E&Y, IKON’s auditor, violated Rule 10b-5 by providing a clean
opinion on IKON’s 1997 financial statements. In particular, they
alleged that $55 million of a $110 million charge taken by IKON in
August of 1998 should have been recorded in the company’s 1997
financial statements. After more than a year of discovery, during
which IKON settled out of the case for $111 million, we moved for
summary judgment on the grounds that plaintiffs had failed to submit
sufficient evidence of loss causation and scienter.” (February 2001)
Mayer, Brown, Rowe & Maw LLP
http://www.mayerbrown.com/litigation/practice/securities_rep3.asp
Contact Information
http://www.mayerbrown.com/litigation/contact/index.asp
--------------------------------------------------
The law firm Berger & Montague ( www.bergermontague.com/ ) has
represented investors in actions against IKON Office Solutions, Inc.
In re IKON Office Solutions Inc. Securities Litigation:
“The firm, serving as both co-lead and liaison counsel, obtained a
cash settlement of $111 million in an action on behalf of investors
against IKON and certain of its officers in 2000.”
(MDL Docket No. 1318 (E.D. Pa. 2000)).
Source: Berger & Montague
http://www.bergermontague.com/prominent-cases.cfm
“Commenting on the work of Berger & Montague attorneys Merrill G.
Davidoff, Todd S. Collins, Jacob A. Goldberg, and Douglas M. Risen, on
the partial settlement for $111 million approved May, 2000,
IKON Offices Solutions Securities Litigation, Civil Action No. 98-4286
(E.D. Pa. 2000).”
http://www.bergermontague.com/judicial-praise.cfm
Berger & Montague, P.C.
1622 Locust Street
Philadelphia, PA 19103
Phone: 800-424-6690
Fax 215-875-4604
E-mail: info@bm.net
--------------------------------------------------
The Better Business Bureau Reliability Report
Issued September 9, 2003
“This company has been a member of this Better Business Bureau since
12/30/83. This means the company supports the Bureau's services to the
public and meets our membership standards.”
“Based on BBB files, this company has a satisfactory record with the
Bureau. The Bureau has processed no customer complaints on this
company in its three-year reporting period.”
Better Business Bureau
http://www.bosbbb.org/reports/reliability_report.asp?firmid=980
--------------------------------------------------
October 27, 1997
“Complaints of late, lost or wrongly-delivered mail are coming six
months after SPU contracted its mailing and printing services to IKON
Office Solutions, an international office supply company with 50 sites
in western Washington”
Seattle Pacific News
http://www.spu.edu/depts/falcon/archive/oct29-97/stories/mailing.html
--------------------------------------------------
===================
For further reading
===================
Class-Action Lawsuits Likely to Change How 401(k) Plans Work
Source: The Philadelphia Inquirer
Publication date: 7/8/2003 8:07:00 PM
http://fnicresearch.namehub.com/fnicresearch/story.asp?storyid=1468555
-------------------------------------------------
Notice of Class Action
http://www.hilsoft.com/home/images/pdf/whetman%20v.%20ikon%20individual%20notice.pdf
-------------------------------------------------
NOTICE OF PENDENCY OF CLASS ACTION (8 pages)
Terms and background of the proposed Settlement
Source: Gilardi & Company
http://www.gilardi.com/pdf/iko2not.pdf
-------------------------------------------------
Dated: November 20, 2000 (32 pages)
DEFENDANT ERNST & YOUNG LLP’S REPLY MEMORANDUM IN SUPPORT OF ITS
MOTION FOR SUMMARY JUDGMENT (32 pages)
IN RE IKON OFFICE SOLUTIONS, INC. SECURITIES LITIGATION:
MDL DOCKET NO. 1318: NO. 98-CV-4286 (MK)
Robbins, Russell, Englert, Orseck & Untereiner LLP
http://www.robbinsrussell.com/pdf/79.pdf
-------------------------------------------------
Dated: October 16, 2000 (60 pages)
DEFENDANT ERNST & YOUNG LLP’S MEMORANDUM
IN SUPPORT OF ITS MOTION FOR SUMMARY JUDGMENT
Robbins, Russell, Englert, Orseck & Untereiner LLP
http://www.robbinsrussell.com/pdf/78.pdf
-------------------------------------------------
TESTIMONY OF DON H. LIU, ESQ.SENIOR VICE PRESIDENT AND GENERAL
COUNSEL,IKON OFFICE SOLUTIONS BEFORE THE HOUSE INSURANCE COMMITTEE
AUGUST 29, 2000
Source: The Pennsylvania Business Roundtable
http://www.paroundtable.org/notable_commentary.html
-------------------------------------------------
Law.com article
http://www.law.com/jsp/article.jsp?id=1029171612739
Stanford Law School article
http://securities.stanford.edu/news-archive/1999/112999Settlement110200.html
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Fee-based information
---------------------
ClassActionAmerica.com
ClassActionAmerica.com, a service of the Kahn Gauthier Law Group,
published the following on September 16, 2003.
Commissioned Salespeople Charge IKON Office Solutions with Wrongfully
Taking Back Their Commissions
“California's labor laws are more protective of its workers than most
states'. The class has been certified in a California class action
filed against business products service company IKON Office Solutions,
Inc., on behalf of commissioned salespersons who allege that the
company compels them to return commissions on failed accounts in
violation of California unfair business practices and labor laws.”
You can purchase the full description and Case Report for the IKON
Office Solutions, Inc. case for $9.99. Scroll down to the bottom of
the page to purchase.
ClassActionAmerica.com
https://www.classactionamerica.com/cases/case.asp?cid=2702
“IKON Agrees to Make Changes in its Employees' 401(k) Plan
On August 9, 2002, the court approved a settlement of a class action
against IKON Office Solutions, Inc. by participants in its Retirement
Savings Plan or the Alco Standard Retirement Savings Plan.”
ClassActionAmerica.com
https://www.classactionamerica.com/cases/case.asp?cid=1698
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LegalCasesDocs.com
LegalCasesDoc a fee based service provides a number of documents
concerning IKON OFFICE SOLUTIONS INC SECURITIES LITIGATION.
They allow you to view the first page for free.
These are the case documents they have available:
1 1999-02-18 DOCKET
2 1998-12-18 CONSOLIDATED COMPLAINT
3 1998-10-16 COMPLAINT B
4 1998-08-14 COMPLAINT A
LegalCasesDocs.com
http://www.legalcasedocs.com/120/249/776.html
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Search Criteria:
IKON Office Solutions
IKON class-action Philadelphia
IKON litigation
IKON lawsuits
IKON complaints
IKON cases
Complaints against IKON
I hope the above information helps you in your research.
Best Regards,
Bobbie7-ga |
