Levi & Korsinsky Notifies Investors With Losses on Their Investment in The Princeton Review, Inc. of Class Action Lawsuit and the September 27, 2011 Lead Plaintiff Deadline
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 08/01/11 -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the District of Massachusetts on behalf of purchasers of The Princeton Review, Inc. (NASDAQ: REVU) who purchased shares between March 12, 2009 and March 11, 2011.
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The Complaint alleges that certain Princeton Review officers and directors violated federal securities laws by misrepresenting and/or failing to disclose that: (a) the Company's revenues and earnings were negatively impacted by operational problems and increased competition; (b) the Company shifted its focus and resources away from core higher education readiness to unproven projects to the detriment of the business; (c) contrary to the Company's public statements, the Company was not executing well on its turn-around plan; d) the Company encountered significant problems in the higher education readiness business due to a product mix shift and increased competition; and (e) defendants' positive statements about the Company were materially false and misleading.
On March 9, 2011, the Company reported a loss of $50.4 million for 2010, compared to a loss of $13.9 million in 2009, and announced the resignation of President and CEO Michael Perik. Following these announcements, shares of Princeton Review stock declined more than 37 percent on March 10, 2011.
If you are a member of the class and suffered a loss in Princeton Review stock, you have until September 27, 2011 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery is not affected by the decision whether or not to serve as a lead plaintiff. To obtain additional information about your rights, contact Joseph E. Levi, Esq. either via email at or by telephone at (877) 363-5972, or visit .
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 Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 15th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
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Datum: 01.08.2011 - 20:17 Uhr
Sprache: Deutsch
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