Tekelec (TKLC) Shareholder Securities Fraud Class Action Lawsuit
A securities fraud class action lawsuit has been filed on behalf of investors of Tekelec (TKLC). The lawsuit alleges that Tekelec (TKLC) misled investors about its business prospects in emerging markets.
Specifically, the complaint alleges that defendants failed to disclose:
- (i) that the Company was experiencing known but undisclosed difficulties in fulfilling orders in the emerging markets in general and in India in particular due to security and regulatory issues;
- (ii) that the Company’s customers in the emerging markets were experiencing known but undisclosed credit issues causing them to delay purchases;
- (iii) that the Company was experiencing a sharp decline in new orders that was reasonably likely to have a material adverse effect on the Company’s backlog and operating results; and
- (iv) that, as a result of the foregoing, defendants’ representations concerning their “visibility” into the Company’s earnings were materially false and misleading.
Due to these alleged misleading statments by Tekelec (TKLC), Tekelec (TKLC) shares increased in value from $14.55 per share in 2/2010 to $19.08 in 4/2010 - only to fall to as low as $10.81 in 8/2010.
The class action lawsuit against Tekelec (TKLC) covers anyone that has purchased or acquired shares of Tekelec (TKLC) between 2/11/10 and 8/05/10 and has either lost money on the transaction or currently still holds their shares.
To find out if you can join this class action lawsuit and receive financial compensation, complete the form on this page or call 1-800-934-2921.