Judge tosses Diebold shareholder lawsuit from 2005

[garybeck]

note, this is NOT the Ohio Brunner lawsuit. hard to keep track of them all

-------------------------------------

Judge dismisses lawsuit against Diebold
Shareholders charged investors were misled

By Jim Mackinnon
Beacon Journal business writer


Published on Wednesday, Sep 03, 2008

A federal judge dismissed a class-action lawsuit filed in 2005 against ATM and voting machine maker Diebold Inc. of Green, saying that shareholders failed to prove the company lied about its financial health and misled investors.

Five shareholder lawsuits were filed in late 2005 against Diebold and some current and former officers and directors, alleging federal securities laws were violated, the company said in a short statement.

The suits contended in part that executives misled shareholders about problems with the company's electronic voting machines, and that the company schemed to recognize revenue prematurely in violation of generally accepted accounting procedures and its own accounting procedures.

Shares fell 50 cents to $39.15. Shares are up 38.2 percent, including reinvested dividends, since Jan. 1 and are down 8.1 percent from a year ago.




Diebold on Sept. 21, 2005, lowered its earnings guidance for the third quarter and fiscal year. The news sent share prices tumbling, with shareholders filing related lawsuits shortly afterward.

The cases were consolidated into a single class-action suit in U.S. District Court in Akron. Judge Peter Economus on Aug. 22 granted the company's motion to dismiss the consolidated cases.

Diebold issued a statement saying a separate class-action suit remains against the company and some of its current and former officers and directors. The remaining suit was filed by participants in the company's 401(k) plan and alleges breaches of duties under the Employee Retirement Income Security Act of 1974, the company said.



--------------------------------------------------------------------------------
Jim Mackinnon can be reached at 330-996-3544 or [e-mail].

A federal judge dismissed a class-action lawsuit filed in 2005 against ATM and voting machine maker Diebold Inc. of Green, saying that shareholders failed to prove the company lied about its financial health and misled investors.

Five shareholder lawsuits were filed in late 2005 against Diebold and some current and former officers and directors, alleging federal securities laws were violated, the company said in a short statement.

The suits contended in part that executives misled shareholders about problems with the company's electronic voting machines, and that the company schemed to recognize revenue prematurely in violation of generally accepted accounting procedures and its own accounting procedures.

Shares fell 50 cents to $39.15. Shares are up 38.2 percent, including reinvested dividends, since Jan. 1 and are down 8.1 percent from a year ago.

Diebold on Sept. 21, 2005, lowered its earnings guidance for the third quarter and fiscal year. The news sent share prices tumbling, with shareholders filing related lawsuits shortly afterward.

The cases were consolidated into a single class-action suit in U.S. District Court in Akron. Judge Peter Economus on Aug. 22 granted the company's motion to dismiss the consolidated cases.

Diebold issued a statement saying a separate class-action suit remains against the company and some of its current and former officers and directors. The remaining suit was filed by participants in the company's 401(k) plan and alleges breaches of duties under the Employee Retirement Income Security Act of 1974, the company said.

http://www.ohio.com/news/top_stories/27799564.html

[kster]

1. Barack Obama and Joe Biden REMAIN SILENT

about how our votes/ballots will be counted, UNFUCKINGBELEIVABLE....

An all American way to put an end to all the bullshit....



Easy to use, sturdy and stackable. Lockable with two individual locks. Deposit trap is operated using a lever which is coupled with the counter. Can be safely stored in the reusable protective box.



http://www.kaiserkraft.co.uk/equipment/transparent_ballot_box.html


K&R

[garybeck]

2. yeah, the vote caging is already underway and they're doing nothing

my hopes are diminishing.

[tbyg52]

3. I am completely bamboozled by the silence.

Have they no clue?

[garybeck]

4. To be honest I expected the silence

it's par for the course.

Kerry did nothing

DNC does nothing

Dems in congress do nothing.


Why would Obama do any different.

[tbyg52]

5. Because if he doesn't wake up and smell the coffee, he might *lose*....? :-( nt

[garybeck]

6. well it's the 11th hour and there is no sign of waking up.

I wouldn't hold your breath

[tbyg52]

7. I don't get it. They're either blind or playing *very* close to the vest. nt

[garybeck]

8. they have their heads buried in the sand.

they are afraid to look at the reality of the situation because it's too scary. it's easier to assume everything is OK. and they don't want to look like crazy conspiracy theorists.

[diva77]

9. my theory is that they know the results are in the hands of those

controlling the software/ hardware, so they don't want to rock the boat of those who rig the vote

I've approached politicians running for office and requested they speak out for election integrity and they avoid the issue like the plague

[tbyg52]

10. Yep. We were royally railroaded on this electronic voting stuff. nt

[garybeck]

11. that doesn't make much sense.

you're saying they know the election is rigged and they are not trying to do anything about it?

or are you saying they know it's rigged andthey're just trying not to piss off the people who rig it, in hopes that they choose them?

neither of these scenarios make much sense to me. if they know it's rigged, then either they are confident the riggers are going to choos them (very unlikely) or they would address it somehow, either by proposing legislation or taking it to the public,

their lack of initiative on this shows a lack of understanding, and a lack of caring about the issue. I have heard many prominent democratic politicians make statements of complete denial, including Barak Obama.

Denial is the only logical explanation.

[diva77]

12. just remember what happened to Don Siegelman

[garybeck]

13. I don't see how that corresponds here.

Are you saying Obama is doing nothing about it because he's afraid he might go to jail if he does?

[diva77]

14. I cannot say for sure why anybody does or doesn't do anything unless I have

firsthand knowledge. I am just trying to connect the dots. A lot of people who have spoken out seem to have suffered retribution. A lot of people who we were counting on to speak out did not speak out. That is what I am saying.