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Case ID: 4707 | Stocks | 03/20/2006
A class action has been filed against Bausch & Lomb, Inc. (BOL), certain of its officers and directors by stockholders who purchased the company's common stock between January 27, 2005 and December 22, 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.
According to a press release dated March 13, 2006, the complaint charges Bausch & Lomb and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Bausch & Lomb engages in the development, manufacture, and marketing of eye health products. Specifically, the complaint alleges that during the Class Period, defendants made positive but false statements about Bausch & Lomb's results and business, while concealing material adverse information about the true nature of the Company's revenues, the lack of adequate internal controls and the underpayment of taxes resulting in tens of millions of dollars in penalties, which ultimately resulted in the restatement of the Company's financials over a period of five years. The complaint further alleges that on or around December 22, 2005, after the markets closed, the Company provided an update on an internal investigation related to its Brazil subsidiary and announced that it would restate its financial results for 2000 through the first half of 2005. On this disclosure, Bausch & Lomb's stock price dropped to as low as $71.54 per share, a 9% decline from its close on December 22, 2005 – the equivalent of a $374 million market capitalization loss. However, according to the complaint, prior to these revelations of accounting fraud the Company's top officers and directors illegally reaped over $29 million in insider trading proceeds. If you bought Bausch & Lomb, Inc. securities between January 27, 2005 and December 22, 2005, inclusive, and would like to obtain information about the Bausch & Lomb, Inc. lawsuit, then you are invited to call (866) 467-1400 to speak with an attorney. 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 According to a press release dated April 30, 2008, the complaint charges Arbitron and certain of its officers and directors with violations of the Securities Exchange Act of 1934. The Company, through its subsidiaries, provides media and marketing information services in the United States and internationally. The Company's Portable People Meter ratings service is purportedly capable of measuring radio, broadcast television, cable television, Internet broadcasts, satellite radio and television audiences, and retail store video and audio broadcasts.
A class action has been filed against BearingPoint, Inc. (NYSE:BE), certain of its officers and directors by stockholders who purchased the company's common stock between August 14, 2003 and April 20, 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. The class has been certified in several consolidated actions filed against Ahsanti Goldfields, Ltd., on behalf of all persons who purchased or otherwise acquired the company’s Global Depository Receipts in transactions on stock exchanges in the US between April 21, 1997, and October 5, 1999. 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.
Aerosonic helps pilots get where they are headed. Several class actions have been filed against aviation instrument maker Aerosonic Corporation (Amex: AIM) and certain of its officers and directors by stockholders who purchased the company's common stock between May 3, 1999, and March 17, 2003. 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 FindWhat.com (NasdaqNM:FWHT), certain of its officers and directors by stockholders who purchased the company's common stock between January 05, 2004 and May 04, 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. Several class actions have been filed against technology company Micromuse, Inc. (Nasdaq: MUSEE) and certain of its officers and directors by stockholders who purchased the company's common stock between January 20, 2000, and December 29, 2003. 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. |
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