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Case ID: 5111 | Stocks | 07/21/2008
According to a law firm press release, a class action has been on behalf of all persons who purchased the common stock of TRM Corporation on May 22, 2008.
The Complaint charges that TRM and certain of its officers and directors violated federal securities laws by issuing materially false and misleading statements regarding the Company's financial health and performance. As alleged in the Complaint, these statements were materially false and misleading because defendants misrepresented and failed to disclose: (i) that the Company's financial results were artificially inflated due to the failure to timely write down certain assets, which were materially overvalued in the Company's financial statements; (ii) that TRM lacked adequate internal controls and procedures necessary to ascertain its true financial condition and worth; and (iii) as a result of the foregoing, the Company's ability to continue its operations and remain a going-concern was in serious doubt. At the end of the Class Period, TRM provided investors with details about the progress of its restructuring plan and announced new management positions. Following this disclosure, shares of the Company's stock declined dramatically. If you bought TRM Corporation securities and would like to obtain information about the TRM Corporation lawsuit, then you are invited to call Kahn Gauthier Swick, LLC toll free at (866) 467-1400 to speak with an attorney or visit www.kgscounsel.com. 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 the press release dated May 8, 2008, the class action lawsuit filed in the United States District Court, Eastern District of Pennsylvania, 08cv1603, has been withdrawn without prejudice since defendants had not appeared, answered or moved for summary judgment. The action will be refiled in the United States District Court for the District of New Jersey, Civil Action No. 08-02177. Kahn Gauthier Swick, LLC ("KGS") announces that shareholders of Telik, Inc. ("Telik" or the “Company”) (Nasdaq:TELK - News) who purchased shares of the Company between March 27, 2003 and June 4, 2007 (the "Class Period"), including purchasers of shares pursuant to Telik’s November 5, 2003 and January 28, 2005 stock offerings, have 60 days, or until August 6, 2007 to move for appointment as Lead Plaintiff in a securities class action lawsuit currently pending in the United States District Court for the Southern District of New York. No class has yet been certified in this action.
A class action has been filed against GMH Communities Trust (GCT), certain of its officers and directors by stockholders who purchased the company's common stock between October 28, 2004 and March 10, 2006. 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 Fidelity Management & Research Company and FMR Company, Inc., on behalf of all shareholders in the Fidelity Contrafund, the Fidelity Growth & Income Fund, the Fidelity Magellan Fund, the Fidelity Blue Chip Growth Fund, and the Fidelity Low-Priced Stock Fund, who allege that the companies have charged them excessive fees for the management of the funds, in violation of federal securities laws. A class action has been filed against Navarre Corp. (NasdaqNM:NAVR), certain of its officers and directors by stockholders who purchased the company's common stock between July 23, 2003 and May 31, 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. Kahn Gauthier Swick, LLC ("KGS") announces that shareholders of TNS, Inc. (NYSE:TNS) who purchased, exchanged or otherwise acquired the common stock of TNS on or about September 16, 2005 pursuant to the company's secondary offering have until June 5, 2006 in which to move for appointment as lead plaintiff in a securities fraud class action lawsuit currently pending in the United States District Court for the Eastern District of Virginia. |
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