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
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
Using new techniques of information modeling, indexing, and processing, new cloud-based systems can support cloud-based workloads previously not possible for high-throughput insurance, banking, and case-based applications. In his session at 18th Cloud Expo, John Newton, CTO, Founder and Chairman of Alfresco, described how to scale cloud-based content management repositories to store, manage, and retrieve billions of documents and related information with fast and linear scalability. He addres...
SYS-CON Events announced today that Venafi, the Immune System for the Internet™ and the leading provider of Next Generation Trust Protection, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Venafi is the Immune System for the Internet™ that protects the foundation of all cybersecurity – cryptographic keys and digital certificates – so they can’t be misused by bad guys in attacks...
Aspose.Total for .NET is the most complete package of all file format APIs for .NET as offered by Aspose. It empowers developers to create, edit, render, print and convert between a wide range of popular document formats within any .NET, C#, ASP.NET and VB.NET applications. Aspose compiles all .NET APIs on a daily basis to ensure that it contains the most up to date versions of each of Aspose .NET APIs. If a new .NET API or a new version of existing APIs is released during the subscription peri...
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
To leverage Continuous Delivery, enterprises must consider impacts that span functional silos, as well as applications that touch older, slower moving components. Managing the many dependencies can cause slowdowns. See how to achieve continuous delivery in the enterprise.
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
SYS-CON Events announced today that eCube Systems, a leading provider of middleware modernization, integration, and management solutions, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. eCube Systems offers a family of middleware evolution products and services that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
SYS-CON Events announced today Telecom Reseller has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
Ixia (Nasdaq: XXIA) has announced that NoviFlow Inc.has deployed IxNetwork® to validate the company’s designs and accelerate the delivery of its proven, reliable products. Based in Montréal, NoviFlow Inc. supports network carriers, hyperscale data center operators, and enterprises seeking greater network control and flexibility, network scalability, and the capacity to handle extremely large numbers of flows, while maintaining maximum network performance. To meet these requirements, NoviFlow in...
Enterprises have forever faced challenges surrounding the sharing of their intellectual property. Emerging cloud adoption has made it more compelling for enterprises to digitize their content, making them available over a wide variety of devices across the Internet. In his session at 19th Cloud Expo, Santosh Ahuja, Director of Architecture at Impiger Technologies, will introduce various mechanisms provided by cloud service providers today to manage and share digital content in a secure manner....
StarNet Communications Corp has announced the addition of three Secure Remote Desktop modules to its flagship X-Win32 PC X server. The new modules enable X-Win32 to safely tunnel the remote desktops from Linux and Unix servers to the user’s PC over encrypted SSH. Traditionally, users of PC X servers deploy the XDMCP protocol to display remote desktop environments such as the Gnome and KDE desktops on Linux servers and the CDE environment on Solaris Unix machines. XDMCP is used primarily on comp...
As the world moves toward more DevOps and Microservices, application deployment to the cloud ought to become a lot simpler. The Microservices architecture, which is the basis of many new age distributed systems such as OpenStack, NetFlix and so on, is at the heart of Cloud Foundry - a complete developer-oriented Platform as a Service (PaaS) that is IaaS agnostic and supports vCloud, OpenStack and AWS. Serverless computing is revolutionizing computing. In his session at 19th Cloud Expo, Raghav...