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
"We build IoT infrastructure products - when you have to integrate different devices, different systems and cloud you have to build an application to do that but we eliminate the need to build an application. Our products can integrate any device, any system, any cloud regardless of protocol," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
"We analyze the video streaming experience. We are gathering the user behavior in real time from the user devices and we analyze how users experience the video streaming," explained Eric Kim, Founder and CEO at Streamlyzer, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
"This is specifically designed to accommodate some of the needs for high availability and failover in a network managed system for the major Korean corporations," stated Thomas Masters, Managing Director at InfranicsUSA, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Enterprise IT has been in the era of Hybrid Cloud for some time now. But it seems most conversations about Hybrid are focused on integrating AWS, Microsoft Azure, or Google ECM into existing on-premises systems. Where is all the Private Cloud? What do technology providers need to do to make their offerings more compelling? How should enterprise IT executives and buyers define their focus, needs, and roadmap, and communicate that clearly to the providers?
"We are an all-flash array storage provider but our focus has been on VM-aware storage specifically for virtualized applications," stated Dhiraj Sehgal of Tintri in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
"We are a leader in the market space called network visibility solutions - it enables monitoring tools and Big Data analysis to access the data and be able to see the performance," explained Shay Morag, VP of Sales and Marketing at Niagara Networks, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
According to Forrester Research, every business will become either a digital predator or digital prey by 2020. To avoid demise, organizations must rapidly create new sources of value in their end-to-end customer experiences. True digital predators also must break down information and process silos and extend digital transformation initiatives to empower employees with the digital resources needed to win, serve, and retain customers.
Amazon has gradually rolled out parts of its IoT offerings in the last year, but these are just the tip of the iceberg. In addition to optimizing their back-end AWS offerings, Amazon is laying the ground work to be a major force in IoT – especially in the connected home and office. Amazon is extending its reach by building on its dominant Cloud IoT platform, its Dash Button strategy, recently announced Replenishment Services, the Echo/Alexa voice recognition control platform, the 6-7 strategic...
We're entering the post-smartphone era, where wearable gadgets from watches and fitness bands to glasses and health aids will power the next technological revolution. With mass adoption of wearable devices comes a new data ecosystem that must be protected. Wearables open new pathways that facilitate the tracking, sharing and storing of consumers’ personal health, location and daily activity data. Consumers have some idea of the data these devices capture, but most don’t realize how revealing and...
Organizations planning enterprise data center consolidation and modernization projects are faced with a challenging, costly reality. Requirements to deploy modern, cloud-native applications simultaneously with traditional client/server applications are almost impossible to achieve with hardware-centric enterprise infrastructure. Compute and network infrastructure are fast moving down a software-defined path, but storage has been a laggard. Until now.
IoT solutions exploit operational data generated by Internet-connected smart “things” for the purpose of gaining operational insight and producing “better outcomes” (for example, create new business models, eliminate unscheduled maintenance, etc.). The explosive proliferation of IoT solutions will result in an exponential growth in the volume of IoT data, precipitating significant Information Governance issues: who owns the IoT data, what are the rights/duties of IoT solutions adopters towards t...
Get deep visibility into the performance of your databases and expert advice for performance optimization and tuning. You can't get application performance without database performance. Give everyone on the team a comprehensive view of how every aspect of the system affects performance across SQL database operations, host server and OS, virtualization resources and storage I/O. Quickly find bottlenecks and troubleshoot complex problems.
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
Complete Internet of Things (IoT) embedded device security is not just about the device but involves the entire product’s identity, data and control integrity, and services traversing the cloud. A device can no longer be looked at as an island; it is a part of a system. In fact, given the cross-domain interactions enabled by IoT it could be a part of many systems. Also, depending on where the device is deployed, for example, in the office building versus a factory floor or oil field, security ha...
Between 2005 and 2020, data volumes will grow by a factor of 300 – enough data to stack CDs from the earth to the moon 162 times. This has come to be known as the ‘big data’ phenomenon. Unfortunately, traditional approaches to handling, storing and analyzing data aren’t adequate at this scale: they’re too costly, slow and physically cumbersome to keep up. Fortunately, in response a new breed of technology has emerged that is cheaper, faster and more scalable. Yet, in meeting these new needs they...