Dyer & Berens LLP Files Class Action on Behalf of Camelot Information Systems Inc. Investors; Encourages Large Investors to Inquire About the Upcoming Lead Plaintiff Deadline (CIS)
(firmenpresse) - DENVER, CO -- (Marketwire) -- 01/11/12 -- Dyer & Berens LLP () today announced that it has filed a class action lawsuit in the United States District Court for the Southern District of New York on behalf of purchasers of Camelot Information Systems Inc. (NYSE: CIS) American Depositary Shares between July 21, 2010 and August 17, 2011 (the "Class Period").
If you purchased shares during the Class Period and wish to serve as a lead plaintiff, you must request appointment by the court no later than . A "lead plaintiff" works with counsel to direct the litigation and participates in important decisions, including the amount of compensation to accept in settlement of the class action. Members of the putative class may move the court to serve as lead plaintiffs through counsel of their choice, or may choose to do nothing and remain absent class members.
If you would like to discuss this action, the lead plaintiff process, or have any questions concerning this notice, please contact plaintiff's counsel, Jeffrey A. Berens, Esq., at (888) 300-3362 x302 or via email at .
The complaint contains allegations that, during the Class Period, defendants issued materially false and misleading statements regarding the company's business. Specifically, the true facts, which were known by the defendants but concealed from the investing public during the Class Period, were as follows: (a) the company's IT professionals were not a competitive advantage to the company and many were dissatisfied with Camelot, which would adversely affect Camelot's ability to retain its customers; (b) the company was suffering from undisclosed attrition of employees, which was having a negative impact on the company's ability to attract new customers; (c) Camelot did not have the large numbers of highly trained professionals at its disposal that it had represented; and (d) Camelot's contract with its most important customer, IBM, was not as solid as represented, and would not be renewed on the same terms. Based upon the foregoing, the complaint charges the company, certain of its officers and directors, and its underwriters with violations of the Securities Act of 1933 and the Securities Exchange Act of 1934.
The plaintiff is represented by Dyer & Berens LLP. The firm's extensive experience in securities litigation, particularly in cases brought under the Private Securities Litigation Reform Act, has contributed to the recovery of hundreds of millions of dollars for aggrieved investors.
Contact:
Jeffrey A. Berens
Dyer & Berens LLP
303 East 17th Avenue, Suite 300
Denver, CO 80203
Tel: (888) 300-3362 x302
Email:
Website:
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Datum: 11.01.2012 - 12:17 Uhr
Sprache: Deutsch
News-ID 1072112
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