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Case ID: 5001 | Stocks | 05/30/2007
Kahn Gauthier Swick, LLC ("KGS"), the law firm that filed the first class action lawsuit against Optionable, Inc. ("Optionable" or the "Company") (OTC BB:OPBL.OB), notifies investors that a subsequent class action lawsuit filed by a Connecticut and New York law firm has been voluntarily dismissed. Following this untimely withdrawal, KGS remains the sole law firm actively prosecuting a securities class action lawsuit seeking to recover for losses suffered by shareholders who purchased shares of the Company in connection with its Initial Public Offering ("IPO") in or about May 9, 2005, or who purchased shares thereafter in the open market (the "Class Period"). KGS’ lawsuit is pending in the United States District Court for the Southern District of New York, Civil Action No. 07cv3753.
If you wish to serve as lead plaintiff in this case, you must move the Court no later than July 10, 2007. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. If you would like to discuss your legal rights, you may e-mail or call KGS, without obligation or cost to you. You may contact Managing Partner Lewis Kahn of KGS direct, toll free 1-866-467-1400, ext. 100, or by email at the link above. 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 A class action has been filed against Smith Barney and its parent, Citigroup Inc., by investors who invested $100,000 or more in class B shares in one or more Smith Barney mutual funds between June 12, 1998, and June 12, 2003, where the investment could have otherwise qualified for the $100,000 "breakpoint" load reduction associated with investments in class A shares of the same fund. Several class actions have been filed against tool manufacturer Spear & Jackson, Inc. (OTC:SJCK.OB) and certain of its officers and directors by stockholders who purchased the company's common stock between July 14, 2003, and April 15, 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 parties have reached a $110 million settlement in several administrative proceedings filed against Putnam Investment Management, LLC, on behalf of shareholders and the investing public. The proceedings alleged that Putnam violated state and federal securities law by failing to disclose improper market timing trading by Putnam portfolio managers and certain clients from 2000 until September 2003. Persons eligible to take part in the settlement should contact the attorneys who prosecuted the action for more information. A class action has been filed against General Motors Corporation (GM), certain of its officers and directors by stockholders who purchased the company's common stock between February 25, 2002 and March 16, 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 electrical and technology contracting company Integrated Electrical Services, Inc. (NYSE:IES), and certain of its officers and directors by stockholders who purchased the company's common stock between November 10, 2003, and August 13, 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 Molex Incorporated (NasdaqNM:MOLXE), certain of its officers and directors by stockholders who purchased the company's common stock between July 27, 2004 and February 14, 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. |
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