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Case ID: 3673 | Stocks | 03/17/2006
Several class actions have been filed against technology company Lattice Semiconductor Corporation (Nasdaq:LSCC), and certain of its officers and directors by stockholders who purchased the company's common stock between April 22, 2003, and April 19, 2004. The actions claim that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. The stockholders seek to recover compensatory damages for the loss of value of their stock.
The action alleges that Lattice Semiconductor issued materially false and misleading financial information to the investing public, understating its accounts payable balance and overstating earnings. On March 18, 2004, the company disclosed that it anticipated restating its first, second, and third quarter 2003 financial statements because it had overstated its Deferred Income Account. On March 24, 2004, it released its financial results for the fourth quarter and year end December 31, 2003, restating previously reported 2003 revenue by approximately 7% and increasing its net loss by $9 million. On April 19, 2004, Lattice Semiconductor filed amended form 10-Qs for the first three quarters of 2003. Following the filing, the price of lattice stock fell from $8.95 on April 19, 2004, to close at $8.50 on April 30, 2004. The company's shares continued to fall after the news, trading in the range of $4.50 at the time this lawsuit was filed. If you purchased securities issued by Lattice Semiconductor during the applicable period, you may request appointment by the court as a lead plaintiff if you do so by November 8, 2004. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the court must determine that your claim is typical of the claims of other class members, and that you will adequately represent the class. Under certain circumstances, one or more class members may together serve as lead plaintiffs. Your ability to share in any recovery is not affected by the decision whether or not to serve as a lead plaintiff. You may retain any counsel of your choice to serve you in this action, or you may choose to do nothing, and remain in the class as a silent member. At Lawcash.com, it is our goal to keep you informed about important legal cases, class actions and settlements. Our lawyers offer free legal evaluations in tort cases, class actions, personal injury, and other lawsuits because we are dedicated to helping you resolve your legal complaints. Other Stocks Cases of Interest This securities class action was filed in the Southern District of New York on October, 2008.
The Complaint alleges that during the Class Period, the Company and the individual defendants falsely portrayed the Company as relatively immune from the effects of the global credit crisis and stated that the Company’s capital position remained strong and loan portfolio was solid. In actuality, the Company was practically insolvent at all relevant times and needed to sell assets at fire-sale prices and raise capital at extraordinarily high rates to remain viable. Moreover, the Company’s balance sheet was impaired by billions of dollars of poorly performing assets the Company acquired when it purchased ABN AMRO in October 2007.
A class action has been filed against LaBranche & Company, Inc. (NYSE: LAB) and certain of its officers and directors by stockholders who purchased the company's common stock between January 25, 2000, and October 15, 2003. The action claims that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. A class action has been filed in the Southern District Court of New York against Axis Capital Holdings, Ltd. (NYSE: AXS) and certain of its officers and directors by stockholders who purchased the company's common stock between August 6, 2003 and October 14, 2004. The action claims that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. The stockholders seek to recover compensatory damages for the loss of value of their stock. Several class actions have been filed against prosthetics company Hanger Orthopedic Group, Inc., (NYSE: HGR) and certain of its officers and directors by stockholders who purchased the company's common stock between July 29, 2003, and June 14, 2004. The actions claim that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities.
A class action has been filed against Silicon Image, Inc. (NasdaqNM:SIMG), and certain of its officers and directors by stockholders who purchased the company's common stock between October 19, 2004 and January 24, 2005. The action claims that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. The stockholders seek to recover compensatory damages for the loss of value of their stock. A class action has been filed against Pfizer, Inc. (NYSE: PFE), a New York based pharmaceutical company, and certain of its officers and directors by stockholders who purchased the company’s common stock between November 1, 2004 and December 16, 2004. The action claims that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company’s securities. The stockholders seek to recover compensatory damages for the loss of value of their stock. |
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