BLUDE Immucor (MM)

RADNOR, Pa., Sept. 8 /PRNewswire/ -- The law firm of Schiffrin & Barroway, LLP announces that it has filed a class action lawsuit in the United States District Court for the Northern District of Georgia on behalf of all securities purchasers of Immucor, Inc. ("Immucor" or the "Company") (NASDAQ:BLUDE) between January 7, 2005 and August 29, 2005, inclusive (the "Class Period") against Immucor, Inc., Edward L. Gallup, Gioacchino De Chirico, and Steven C. Ramsey. The complaint charges defendants with violations of the Securities Exchange Act of 1934. More specifically, the Complaint alleges that the Company failed to disclose and misrepresented the following material adverse facts which were known to defendants or recklessly disregarded by them: (1) that the Company lacked adequate internal controls; (2) that the issues related to payments made by the Company's Italian subsidiary to individuals associated with government medical facilities were not resolved, were not merely limited to $730,000 in payments for services rendered to one doctor, and were not isolated to this one event; (3) that the Company failed to properly account for accrued employee bonuses; (4) that the Company's financial results were materially inflated at all relevant times; and (5) that the Company's financial results were in violation of Generally Accepted Accounting Principles ("GAAP"). On August 26, 2005, Immucor announced that the SEC issued a Formal Order in the previously reported investigation into issues related to payments made by the Company's Italian subsidiary to individuals associated with government medical facilities. On this news, shares of Immucor fell $1.00 per share, or 3.5 percent, to close at $27.61 per share. Thereafter on August 29, 2005, Immucor announced that it would revise its Fiscal 2005 earnings to account for employee bonus accrual. The Company also reported that it had accepted the resignation of defendant Steven C. Ramsey as Chief Financial Officer of the Company. On this news, shares of Immucor fell $3.54 per share, or 12.85 percent, to close, on August 30, 2005, at $24.00 per share. If you are a member of the class described above, you may, not later than October 31, 2005, move the Court to serve as lead plaintiff of the class, if you so choose. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Schiffrin & Barroway, or other counsel of your choice, to serve as your counsel in this action. If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Schiffrin & Barroway, LLP (Darren J. Check, Esq. or Richard A. Maniskas, Esq.) toll-free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at . CONTACT: Schiffrin & Barroway, LLP Darren J. Check, Esq. Richard A. Maniskas, Esq. 280 King of Prussia Road Radnor, PA 19087 1-888-299-7706 (toll-free) or 1-610-667-7706 Or by e-mail at DATASOURCE: Schiffrin & Barroway, LLP CONTACT: Schiffrin & Barroway, LLP: Darren J. Check, Esq. or Richard A. Maniskas, Esq., +1-888-299-7706, +1-610-667-7706 or Web site: http://www.sbclasslaw.com/

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