Levi & Korsinsky, LLP Announces Class Action Lawsuit Against Fleetwood Enterprises, Inc. - FLE
16 Settembre 2009 - 11:52PM
Marketwired
Levi & Korsinsky announces that a class action lawsuit has been
filed in the United States District Court for the Central District
of California on behalf of purchasers of the common stock of
Fleetwood Enterprises, Inc. ("Fleetwood" or the "Company") (NYSE:
FLE) between December 6, 2007 and March 10, 2009, inclusive (the
"Class Period").
The complaint alleges that Fleetwood and certain of its officers
and directors violated the Securities Exchange Act of 1934 by
failing to disclose during the Class Period that demand for
Fleetwood's manufactured houses and the big homes-on-wheels was
rapidly declining, which was adversely affecting the Company's
liquidity, and that the Company's financial condition was declining
precipitously such that the Company was nearing insolvency and
would have to file for bankruptcy protection. On March 10, 2009,
Fleetwood issued a press release announcing that it had filed
voluntary Chapter 11 petition in the U.S. Bankruptcy Court for the
Central District of California. As a result, Fleetwood common stock
fell to $0.0103 per share on March 10, 2009.
If you purchased Fleetwood common stock during the Class Period
and wish to serve as lead plaintiff, you must move the court by
November 2, 2009. A lead plaintiff is a representative party acting
on behalf of other class members in directing the litigation. You
do not need to seek appointment as a lead plaintiff in order to
share in any recovery.
If you wish to obtain additional information, please contact us
at the number listed below or visit
http://www.zlk.com/fle1.html.
Levi & Korsinsky has expertise in prosecuting investor
securities litigation and extensive experience in actions involving
financial fraud and represents investors throughout the nation,
concentrating its practice in securities and shareholder
litigation.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard
Korsinsky, Esq. 30 Broad Street - 15th Floor New York, NY 10004
Tel: (212) 363-7500 Fax: (212) 363-7171 www.zlk.com
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