Welcome!

News Feed Item

Hagens Berman Files Securities Class Action on Behalf of Purchasers of Mantria-Related Securities

SEATTLE, Dec. 31, 2012 /PRNewswire/ -- Hagens Berman Sobol Shapiro, LLP ("Hagens Berman") today announced the filing of a class-action securities lawsuit on behalf of a proposed class of investors who purchased securities issued by Mantria Corporation ("Mantria") and related entities during the period from September 1, 2007 through November 16, 2009 (the "Class Period"), inclusive.

Investors who purchased or otherwise acquired these securities during the Class Period are encouraged to contact Hagens Berman attorney Anthony Shapiro at 206-623-7292 or to contact the Hagens Berman legal team through e-mail at [email protected] to discuss their legal rights.

Investors who wish to serve as lead plaintiff in the case must move the court no later than sixty days from the date of this notice. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Class members need not seek to become a lead plaintiff in order to share in any possible recovery.

Hagens Berman's lawsuit, filed November 15, 2011 in the United States District Court for the District of Colorado, alleges that certain of Mantria's former officers violated the Securities Exchange Act of 1934, the Pennsylvania Securities Act and the Colorado Securities Act, and also includes various common law claims.

The Complaint alleges that Mantria, through 11 operating divisions and 32 wholly owned or affiliated companies, purported to be primarily engaged in the development of several planned residential communities in rural Tennessee, and the production and sale of "biochar" – a charcoal substitute made from organic waste.  In addition to these primary ventures, Mantria also claimed, in various investment offerings, to have diverse operations ranging from mortgage banking to hip-hop record production.

The Complaint alleges that Mantria raised more than $54 million from more than 300 investors in securities issued by Mantria Corporation or Mantria-related entities, including the following:

  • Infinite Cash Entertainment, LLC;
  • Mantria Renewable Energy Fund, L.P.;
  • Mantria Financial, LLC ;
  • Mantria Place Renewable Energy Site Development, L.P.;
  • Mantria Industries, LLC;
  • Carbon Diversion Carlsbad New Mexico Manufacturing Plant, LLC; and
  • Mantria Place Eco Village Carbon Fields

The Complaint further alleges that despite Mantria's supposed business empire, its operations generated no revenue with which to pay the touted extraordinary investment returns.  Instead, Mantria only paid investor returns using offering proceeds from new investors in a classic Ponzi scheme fashion, in violation of federal and state laws. The plaintiff in the case seeks to recover damages on behalf of the class and is represented by Hagens Berman Sobol Shapiro, LLP and Saltz, Mongeluzzi, Barrett & Bendesky, P.C.   

Seattle-based Hagens Berman Sobol Shapiro, LLP, is one of the top class-action law firms in the nation, with offices in ten cities across the country. Founded in 1993, we represent plaintiffs in class actions and multi-state, large-scale litigation that seek to protect the rights of investors, consumers, workers and whistleblowers. More information about the firm is available at www.hbsslaw.com.  Hagens Berman has many years of experience prosecuting investor class actions and actions involving financial fraud.  The firm's securities practice is located at www.hb-securities.com.

Saltz Mongeluzzi Barrett & Bendesky, PC, is one of the nation's leading trial law firms. Its attorneys have secured more than 200 verdicts and settlements over $1 million for its clients.

Contacts

Firmani + Associates Inc.
Mark Firmani, 206-443-9357
[email protected]
or

If you have any questions about this notice, the action, your rights or your interests, please contact:

Hagens Berman Sobol Shapiro, LLP
Anthony D. Shapiro
1918 Eighth Ave.
Suite 3300
Seattle, WA 98101
206-623-7292
[email protected]

SOURCE Hagens Berman Sobol Shapiro, LLP

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
With more than 30 Kubernetes solutions in the marketplace, it's tempting to think Kubernetes and the vendor ecosystem has solved the problem of operationalizing containers at scale or of automatically managing the elasticity of the underlying infrastructure that these solutions need to be truly scalable. Far from it. There are at least six major pain points that companies experience when they try to deploy and run Kubernetes in their complex environments. In this presentation, the speaker will d...
While DevOps most critically and famously fosters collaboration, communication, and integration through cultural change, culture is more of an output than an input. In order to actively drive cultural evolution, organizations must make substantial organizational and process changes, and adopt new technologies, to encourage a DevOps culture. Moderated by Andi Mann, panelists discussed how to balance these three pillars of DevOps, where to focus attention (and resources), where organizations might...
The deluge of IoT sensor data collected from connected devices and the powerful AI required to make that data actionable are giving rise to a hybrid ecosystem in which cloud, on-prem and edge processes become interweaved. Attendees will learn how emerging composable infrastructure solutions deliver the adaptive architecture needed to manage this new data reality. Machine learning algorithms can better anticipate data storms and automate resources to support surges, including fully scalable GPU-c...
When building large, cloud-based applications that operate at a high scale, it's important to maintain a high availability and resilience to failures. In order to do that, you must be tolerant of failures, even in light of failures in other areas of your application. "Fly two mistakes high" is an old adage in the radio control airplane hobby. It means, fly high enough so that if you make a mistake, you can continue flying with room to still make mistakes. In his session at 18th Cloud Expo, Le...
Machine learning has taken residence at our cities' cores and now we can finally have "smart cities." Cities are a collection of buildings made to provide the structure and safety necessary for people to function, create and survive. Buildings are a pool of ever-changing performance data from large automated systems such as heating and cooling to the people that live and work within them. Through machine learning, buildings can optimize performance, reduce costs, and improve occupant comfort by ...
As Cybric's Chief Technology Officer, Mike D. Kail is responsible for the strategic vision and technical direction of the platform. Prior to founding Cybric, Mike was Yahoo's CIO and SVP of Infrastructure, where he led the IT and Data Center functions for the company. He has more than 24 years of IT Operations experience with a focus on highly-scalable architectures.
CI/CD is conceptually straightforward, yet often technically intricate to implement since it requires time and opportunities to develop intimate understanding on not only DevOps processes and operations, but likely product integrations with multiple platforms. This session intends to bridge the gap by offering an intense learning experience while witnessing the processes and operations to build from zero to a simple, yet functional CI/CD pipeline integrated with Jenkins, Github, Docker and Azure...
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. René is a member of the Society of Women Engineers (SWE) and a m...
Dhiraj Sehgal works in Delphix's product and solution organization. His focus has been DevOps, DataOps, private cloud and datacenters customers, technologies and products. He has wealth of experience in cloud focused and virtualized technologies ranging from compute, networking to storage. He has spoken at Cloud Expo for last 3 years now in New York and Santa Clara.
Enterprises are striving to become digital businesses for differentiated innovation and customer-centricity. Traditionally, they focused on digitizing processes and paper workflow. To be a disruptor and compete against new players, they need to gain insight into business data and innovate at scale. Cloud and cognitive technologies can help them leverage hidden data in SAP/ERP systems to fuel their businesses to accelerate digital transformation success.
Containers and Kubernetes allow for code portability across on-premise VMs, bare metal, or multiple cloud provider environments. Yet, despite this portability promise, developers may include configuration and application definitions that constrain or even eliminate application portability. In this session we'll describe best practices for "configuration as code" in a Kubernetes environment. We will demonstrate how a properly constructed containerized app can be deployed to both Amazon and Azure ...
Poor data quality and analytics drive down business value. In fact, Gartner estimated that the average financial impact of poor data quality on organizations is $9.7 million per year. But bad data is much more than a cost center. By eroding trust in information, analytics and the business decisions based on these, it is a serious impediment to digital transformation.
Digital Transformation: Preparing Cloud & IoT Security for the Age of Artificial Intelligence. As automation and artificial intelligence (AI) power solution development and delivery, many businesses need to build backend cloud capabilities. Well-poised organizations, marketing smart devices with AI and BlockChain capabilities prepare to refine compliance and regulatory capabilities in 2018. Volumes of health, financial, technical and privacy data, along with tightening compliance requirements by...
Predicting the future has never been more challenging - not because of the lack of data but because of the flood of ungoverned and risk laden information. Microsoft states that 2.5 exabytes of data are created every day. Expectations and reliance on data are being pushed to the limits, as demands around hybrid options continue to grow.