Finkelstein, Thompson, and Loughran Announces Investigation of Immucor, Inc.
02 Settembre 2005 - 7:17PM
PR Newswire (US)
WASHINGTON, Sept. 2 /PRNewswire/ -- The law firm of Finkelstein,
Thompson & Loughran announces that a lawsuit seeking class
action status has been filed in the United States District Court
for the Northern District of Georgia against Immucor, Inc.
(NASDAQ:BLUDE) ("Immucor" or the "Company") on behalf of persons
who purchased Immucor common stock between January 7, 2005 through
and including August 29, 2005 ("Class Period"). Finkelstein,
Thompson & Loughran is investigating similar claims at this
time and welcomes inquiries from potential class members concerning
their rights and interests in this matter. The lawsuit alleges that
Immucor violated federal securities laws by issuing false or
misleading public statements. Specifically, the complaint alleges
Immucor and various officers of Immucor, throughout the class
period, misrepresented that Immucor's financial statements and
disclosures fairly and accurately represented Immucor's results of
operations as required by Generally Accepted Accounting Principles
("GAAP") and the Exchange Act. On August 26, 2005 Immucor announced
that the Securities and Exchange Commission (the "SEC") had
launched a formal investigation into payments made by its Italian
unit and its president, Defendant De Chirico, in October 2003 to a
physician connected with a hospital with which the Company was
doing business. After the market closed on August 29, 2005, the
Company revealed further that it would be revising its previously
issued results for at least two quarters in order to account for a
previously unrecorded accrued bonus, that its Form 10-K for fiscal
year 2005 would be further delayed, and that its Chief Financial
Officer had resigned. In response to this information, the price of
Immucor common stock dropped from a closing price of $28.61 on
August 25, 2005 to close at $24.00 per share on August 30, 2005 --
a dramatic drop of 16%. If you are a member of the class, you may,
no later than October 17, 2005, request that the Court appoint you
as a lead plaintiff. A lead plaintiff is a class member appointed
by the Court to direct the litigation on behalf of the class.
Although a class member need not be appointed as a lead plaintiff
to receive a proportionate share of any proceeds of the litigation,
lead plaintiffs make important decisions that could affect the
prosecution of the class claims, including decisions concerning
settlement. The securities laws create a rebuttable presumption
that the plaintiff with the largest financial interest in the
litigation is the most adequate to serve as a lead plaintiff. With
offices in Washington, DC and San Francisco, CA, Finkelstein,
Thompson & Loughran has spent almost three decades delivering
outstanding representation to institutional and individual clients
in connection with securities and other finance-related litigation,
and has been appointed as lead or co-lead counsel in dozens of
shareholder class actions. Indeed, in the past ten years, the firm
has served in leadership roles in cases that have recovered over $1
billion for investors and consumers. If you have any questions
concerning this press release or your rights or interests, please
contact Finkelstein, Thompson & Loughran's Washington, DC
office at (877) 337-1050, or by email at . DATASOURCE: Finkelstein,
Thompson & Loughran CONTACT: Donald J. Enright, Esq. of
Finkelstein, Thompson & Loughran, +1-202-337-8000 Web site:
http://www.ftllaw.com/
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