He said an example needed to be made of Sunrise
, to prevent other major corporations "from trying to crush the little guy simply because they can.
Saturday's showers gave way to a crisp, clear Easter Sunday, but some sunrise
services reported a lower than usual turnout due to the earlier rains.
King Kullen has leased 50,000 square feet at Sunrise
Promenade for its largest store in Nassau County, which will feature a host of specialty departments, including a pharmacy, a bakery, a seafood department, an in-store florist and a full service deli.
In 2003, Sunrise
acquired Marriott Senior Living Services from Marriott International, Inc.
first announced plans to change its name in December 2002 while it was acquiring Marriott Senior Living Services Inc.
services symbolically represent the idea of light, or hope, coming into the world with the return to life of Jesus.
As a result of these false statements, the price of Sunrise
's common stock was artificially inflated during the Class Period, during which time the individual defendants took advantage by selling shares of their Sunrise
stock for illegal insider trading proceeds of over $34 million, while Sunrise
's top officers pocketed millions more in unjustified bonus payments enhanced in part by Sunrise
's falsified profits.
To meet this competitor head-on, many long term care providers, including Sunrise
, have begun offering a variety of home-and communitybased programs.
The complaint further alleges that the statements were materially false and misleading because, among other reasons, the defendants failed to disclose that: (i) Sunrise
was understating losses from its minority interests in joint ventures in which Sunrise
's partners received preferential distributions; (ii) the Company was improperly accounting for gains on real estate sales in which it provided guarantees and commitments to venture partners and third parties; and (iii) its financial results were overstated due to options back-dating.
Although Fairfax, Virginia-based Sunrise
gave no explanation for its decision, Raymond James analyst James Kumpel said that due diligence revealed that Sunrise
wouldn't be getting all it bad bargained for.
On May 9, 2006, Sunrise
disclosed that it would delay reporting its first quarter 2006 results to conduct a review of its financial results.
Chairman and Chief Executive Officer Paul Klaassen said in a prepared statement: "Because Constellation was a joint venture partner with Sunrise
for a number of years, our companies share similar architectural design, location, and operating philosophies.
Until the 293,000 square-foot IKEA Sunrise
opens early Fall 2007 in Broward County, customers can shop at the closest IKEA store, which opened June 2005 in Atlanta, or online at www.
com/cases/sunrisesenior/) today announced that a class action has been commenced on behalf of two institutional investors in the United States District Court for the District of Columbia on behalf of purchasers of Sunrise
Senior Living, Inc.
New Joint Venture Builds on Existing Sunrise