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Technology Stocks : Allen-Vanguard Rescue Board

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From: kidl	10/13/2009 12:33:16 PM
	of 724

First reaction from the press: Class-action suit launched against Allen-Vanguard By Ottawa Business Journal Staff Tue, Oct 13, 2009 11:00 AM EST David Luxton, president and CEO of Allen-Vanguard. (Darren Brown, OBJ)Siskinds LLP has filed an $80-million class-action lawsuit against Ottawa's Allen-Vanguard Corp. The London, Ont.-based law firm said in a release that the class action, which also names certain of its current and former officers and directors, seeks damages relating to "certain representations made by the defendants in regard to Allen-Vanguard's acquisition of Med-Eng Systems Inc." The firm went on to say that the suit has been brought on behalf of all entities who acquired Allen-Vanguard securities from Aug. 3, 2007 to Sept. 12, 2009. The firm is asking those who purchased Allen-Vanguard securities to visit its website and complete an online information form. Allen-Vanguard had earlier reached a privatization deal with a Philadelphia private-equity firm, but shareholders complained that they had not been consulted or allowed to vote on the deal. More to come

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