Founded in 2000 and headquartered in San Jose, California, Vocera provides mobile communication products and services to primarily healthcare markets.  The Company’s products are deployed in hospitals and healthcare facilities, including large hospital systems, small and medium-sized local hospitals, and a small number of clinics, surgery centers, and aged-care facilities.  In 2011, Vocera generated revenue of $79.5 million and a net loss of $2.5 million.

On March 28, 2012 Vocera conducted its IPO.  The Company completed the IPO on April 2, 2012, having sold 5,000,000 shares and certain of its stockholders having sold 1,727,000 shares, including 877,500 shares for the underwriters’ over-allotment option.  The shares were sold at $16.00 per share for aggregate gross offering proceeds of $80.0 million to Vocera and $27.6 million to the selling stockholders.

Following the IPO, and during the Class Period, Vocera share prices increased significantly, climbing to over $32 per share in September 2012.

Then, on May 2, 2013, after the close of the market, Vocera shocked investors when it announced first quarter earnings and revenue that were significantly worse than expected. Full-year revenue and earnings forecasts were also sharply reduced. On a subsequent earnings call, management attributed the shortfall and weaker outlook to, among other factors, cost-cutting initiatives at hospitals due to healthcare reform.

On this news, on May 3, 2013, Vocera shares declined 37% to $12.15 per share from $19.38 per share, on unusually heavy volume of 6.7 million shares traded.

Zeldes Haeggquist & Eck’s investigation concerns whether Vocera issued materially false and misleading statements regarding the Company’s business and financial prospects during the Class Period and in connection with the Company’s March 28, 2012 initial public offering (“IPO”.) If you purchased Vocera common stock during the Class Period and/or in the Company’s IPO and want additional information regarding this investigation, or if you have information regarding the allegations involved, please contact attorney  Amber L. Eck at (619) 342-8000 or by email at ambere@zhlaw.com, or click on the following “Join this Action” button. Join This Action

The post Zeldes Haeggquist & Eck, LLP Announces Investigation of Vocera Communications, Inc. Concerning Possible Violations of Securities Laws appeared first on ZHLaw.

CenturyLink is the third largest telecommunications services provider in the United States.  On February 13, 2013, the Company announced weaker than expected financial results. The Company also announced a new capital allocation initiative, under which the Company authorized the repurchase of up to $2.0 billion of the Company’s outstanding common stock.  At the same time the Company announced a plan to reduce the Company’s quarterly cash dividend rate from $0.725 to $0.54 per share.

On this news, the price of CenturyLink stock dropped from $41.69 on February 13, 2013 to close at $32.27 on February 14, 2013.  We are investigating whether statements made by CenturyLink to the investing public in connection with the above were materially false and misleading at the time they were made. 

If you are a CenturyLink shareholder who purchased CenturyLink common stock between August 8, 2012 and February 14, 2013, you may have claims under the securities laws. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Amber L. Eck at (619) 342-8000, or by email at ambere@zhlaw.com. There is no cost to you.

The post Zeldes Haeggquist & Eck, LLP Files Securities Class Action Lawsuit Against CenturyLink, Inc. appeared first on ZHLaw.

The Court in Sanchez explains the interplay between the PDLL and FEHA.  The PDLL’s four months of leave are required regardless of undue hardship on the employer.  After the four months are used the FEHA still requires reasonable accommodations for the disability, unless the extended leave would cause an undue hardship on the employer.  Thus, an employee disabled by pregnancy may still be entitled to more than the PDLL’s four months of leave.

The post Employer’s Obligation to Pregnancy-Disabled Employees appeared first on ZHLaw.

In late 2010, Zeldes Haeggquist & Eck, LLP filed a class action lawsuit on behalf of consumers against telecommunications provider TelePacific, alleging that TelePacific’s Early Termination Fees are illegal and improper. The lawsuit alleges that TelePacific provides new customers with a contract that does not include an Early Termination Fees provision. Then, when customers attempt to cancel their service, TelePacific charges customers exorbitant Early Termination Fees.

In response to the class action lawsuit, TelePacific filed a motion to compel arbitration, arguing that the plaintiff was bound by an arbitration provision that allegedly appeared in the terms and conditions of the contract. The Superior Court denied the motion because TelePacfic did not provide the plaintiff with the arbitration agreement at the time he signed the contract, and because the arbitration agreement was unconscionable. Judge Bauer stated: “So that’s even one step less than take-it-or-leave it. That’s take it without even knowing about it.” See Transcript of Hearing on Motion to Compel at 965.

See blog posted dated January 31, 2013 for more information.

The post California Supreme Court Denies TelePacific’s Petition for Review appeared first on ZHLaw.

In Gonzalez v. Downtown LA Motors, LP, 215 Cal.App.4th 36 (2013), the defendant-employer, Downtown LA Motors, LP, paid its auto mechanics either a piece rate of $17 to $32 for repairs performed or the minimum wage for all hours worked, whichever was higher at the end of each pay period. This compensation plan resulted in the mechanics earning nothing for the hours they spent waiting for a repair to come in, so long as their total pay for the pay period was higher than the minimum wage.

The Court held that the defendant-employer’s compensation plan violated California’s minimum wage laws, stating “we conclude that [employees] were entitled to separate hourly compensation for time spent waiting for repair work or performing other non-repair tasks directed by the employer during their work shifts…” Id. at *1.

In reaching this decision, the Court extended California’s ban on averaging, which requires employers to pay minimum wage for each hour worked rather than averaging hours worked, to piecework compensation plans. This decision may have far-reaching effects on other cases wage-and-hour cases against employers, including a case currently pending in federal court against Wal-Mart.

The post Court Hands Down Victory for Employees Who Do Piecework appeared first on ZHLaw.

Archon owns and operates a casino, the Pioneer Hotel & Gambling Hall, in Laughlin, Nevada. Esplande is Archon’s second-largest outside shareholder. Zeldes & Haeggquist’s investigation concerns whether Archon’s Board of Directors is adequately shopping the company to obtain the best possible value for its shareholders before entering into an agreement with Esplanade. Under the terms of the proposal, shareholders of Archon’s common stock will receive $17.50 per share in cash.

If you own stock of Archon, and would like additional information regarding this investigation, or if you have information regarding the matters under investigation, please contact attorney Aaron M. Olsen or Amber L. Eck at 619-342-8000, or by email at aarono@zhlaw.com or ambere@zhlaw.com.

The post Zeldes & Haeggquist, LLP Announces Investigation into Sale of Archon Corp. to Esplanade Capital appeared first on ZHLaw.

Zeldes & Haeggquist, LLP has commenced an investigation into possible legal claims against the Board of Directors of Anaren, Inc. (“Anaren” or “the Company”) (NASDAQ GS: ANEN). The investigation concerns possible breaches of fiduciary duties and other violations of law related to the Board’s receipt of an acquisition proposal from Vintage Capital Management, LLC (“Vintage”).

Anaren is a provider of microelectronics, and microwave components and assemblies for the wireless and space and defense electronics markets. Vintage and its affiliates are the largest shareholders of Anaren.

Zeldes & Haeggquist’s investigation concerns whether Anaren’s Board of Directors is adequately shopping the Company to obtain the best possible value for its shareholders before entering into an agreement with Vintage. Under the terms of the proposal, shareholders of Anaren will receive $23 per share in cash.

If you own stock of Anaren, and would like additional information regarding this investigation, or if you have information regarding the matters under investigation, please contact attorney Aaron M. Olsen or Amber L. Eck at 619-342-8000, or by email at aarono@zhlaw.com or ambere@zhlaw.com.

The post Zeldes & Haeggquist, LLP Announces Investigation of Potential Sale of Anaren, Inc. appeared first on ZHLaw.

Zeldes & Haeggquist, LLP has commenced an investigation into possible legal claims against the Board of Directors National Financial Partners Corp. (“NFP” or “the Company”) (NYSE: NFP). The investigation concerns possible breaches of fiduciary duties and other violations of law related to NFP entering into an agreement to be acquired by Madison Dearborn Partners, LLC (“Madison Dearborn”), a private equity investment firm.

New York-based NFP is a provider of benefits, insurance, and wealth management services to companies and high-wealth individuals. On April 15, 2013, NFP announced its agreement to be acquired by Madison Dearborn in a deal worth about $1.3 billion.

Zeldes & Haeggquist’s investigation concerns whether NFP’s Board of Directors failed to adequately shop the Company to obtain the best possible value for its shareholders before entering into an agreement with Madison Dearborn. Under the terms of the proposal, NFP shareholders will receive $25.35 in cash per share.

If you own the common stock of NFP and purchased your shares before April 15, 2013, and would like additional information regarding this investigation, or if you have information regarding the matters under investigation, please contact attorney Aaron M. Olsen or Amber L. Eck at 619-342-8000, or by email at aarono@zhlaw.com or ambere@zhlaw.com.

The post Zeldes & Haeggquist, LLP Announces Investigation of National Financial Partners Corp.’s Acquisition by Madison Dearborn Partners, LLC appeared first on ZHLaw.

Zeldes & Haeggquist, LLP has commenced an investigation into possible legal claims against the Board of Directors of Life Technologies Corp. (“Life” or “the Company”) (NASDAQ: LIFE). The investigation concerns possible breaches of fiduciary duties and other violations of law related to a sale of the Company to Thermo Fisher Scientific, Inc.  (“Thermo Fisher”) (NYSE: TMO).

Carlsbad-based Life, a global biotechnology company, holds more than 5,000 patents and licenses in scientific exploration, molecular diagnosis, 21st century forensics, regenerative medicine, and agricultural research. On April 15, 2013, Life and Thermo Fisher announced the acquisition–a deal valued at $13.6 billion.

Zeldes & Haeggquist’s investigation concerns whether Life’s Board of Directors failed to adequately shop the Company to obtain the best possible value for its shareholders before entering into an agreement with Thermo Fisher. Under the terms of the proposal, Life shareholders will receive $76 in cash per share.

If you own the common stock of Life and purchased your shares before April 15, 2013, and would like additional information regarding this investigation, or if you have information regarding the matters under investigation, please contact attorney Aaron M. Olsen or Amber L. Eck at 619-342-8000, or by email at aarono@zhlaw.com or ambere@zhlaw.com.

The post Zeldes & Haeggquist, LLP Announces Investigation of Life Technologies Corp. appeared first on ZHLaw.

Zeldes & Haeggquist, LLP has commenced an investigation into possible legal claims against the Board of Directors of Fisher Communications, Inc. (“Fisher”) (NASDAQ: FSCI). The investigation concerns possible breaches of fiduciary duties and other violations of law related to Fisher’s entry into an agreement to be acquired by Sinclair Broadcast Group, Inc. (“Sinclair”) (NASDAQ: SBGI).

Seattle-based Fisher is a media company which owns 20 Pacific Northwest-area television stations and three Seattle-area radio stations. On April 11, 2013, Sinclair announced its acquisition of Fisher. The deal is valued at approximately $373 million.

Zeldes & Haeggquist’s investigation concerns whether Fisher’s Board of Directors failed to adequately shop Fisher to obtain the best possible value for its shareholders before entering into an agreement with Sinclair. Under the terms of the proposal, public shareholders of Fisher will receive $41 per share in cash. Analysts note that although Sinclair has generated positive cash flow over the years, it has a weak balance sheet with negative equity. To acquire Fisher, Sinclair will have to incur more debt, resulting in an even weaker balance sheet.

If you own stock of Fisher and purchased your shares before April 11, 2013, and would like additional information regarding this investigation, or if you have information regarding the matters under investigation, please contact attorney Aaron M. Olsen or Amber L. Eck at 619-342-8000, or by email at aarono@zhlaw.com or ambere@zhlaw.com.

The post Zeldes & Haeggquist, LLP Announces Investigation of Fisher Communications, Inc.’s Acquisition by Sinclair Broadcast Group, Inc. appeared first on ZHLaw.