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Case ID: 4107 | Stocks | 12/27/2004
A class action has been filed in the Southern District Court of California against Charlotte Russe Holding, Inc. (NYSE: ) and certain of its officers and directors by stockholders who purchased the company's common stock between January 22, 2004 and December 6, 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.
Specifically, the complaint alleges that the company, a mall-based specialty retailer of apparel and accessories operated 311 stores throughout 38 states and Puerto Rico. The company reported that the Company was doing well and anticipated positive fourth quarter results for 2004. However, on September 9, 2004, the company revised its guidance and predicted diluted earnings for the period due to the economy. More specifically, the complaint alleges that the company failed to disclose: • That the strategic repositioning of the stores was failing to produce tangible results In addition, on December 6, 2004, the company reported that the Executive Vice President and General Marketing Manager had resigned. On this news, the company's stock fell another 7.52%.
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 Motorola says it has settled a securities class action lawsuit related to Turkish wireless company Telsim. On March 31, 2008, several motions to appoint lead plaintiffs, counsels and to consolidate cases were filed by different groups and individuals.
According to a press release dated April 15, 2008, a class action has been commenced on behalf of purchasers of the common stock of The Blackstone Group L.Ppursuant and/or traceable to the Company’s initial public offering on or about June 25, 2007 seeking to pursue remedies under the Securities Act of 1933.
According to a law firm press release, a complaint filed June 11, 2008 alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company's business and financial results. Specifically, defendants downplayed and concealed IndyMac's growing exposure to non-performing assets, particularly loans in its pay-option adjustable-rate mortgage ("Option ARM") and homebuilder construction portfolios, and made numerous positive representations regarding the Company's capital position to alleviate investors' fears concerning the Company's capital erosion. As a result of defendants' false statements, IndyMac stock traded at artificially inflated prices during the Class Period, reaching a Class Period high of $24.55 per share in October 2007.
Kahn Gauthier Swick, LLC ("KGS") announces that it has filed suit against Sourcefire, Inc. ("Sourcefire" or the “Company”) (NasdaqGM:FIRE - News), in the United States District Court for the District of Maryland, on behalf of shareholders who purchased shares of the Company in connection with its Initial Public Offering ("IPO") on or about March 9, 2007, or thereafter in the open market. KGS has expanded the lawsuit’s defendants beyond the Company, Board of Directors and CFO, to include the underwriters involved in the Offering (including, Morgan Stanley, Lehman Bros., UBS Securities and Jeffries & Co.), who are each charged with including or allowing the inclusion of materially false and misleading statements in the Registration Statement and Prospectus issued in connection with the IPO, in direct violation of the Securities Act of 1933. Enterasys Networks Inc. (NYSE: ETS) announced today that it has entered into an agreement in principle to settle shareholder litigation filed in 1997 against its predecessor, Cabletron Systems, Inc., and certain Cabletron directors and officers. The settlement, which is subject to execution of a final settlement agreement and subsequent court approval, is expected to be signed by the parties on or before January 25, 2005. |
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