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The Law Firm of Goldman Scarlato & Karon, P.C. Announces Class Action Lawsuit Against Maxim Integrated Products, Inc.
Publish Date : 2/7/2008 4:21:00 AM Source : Legal News Onlypunjab.com
Goldman Scarlato & Karon, P.C., a law firm with offices in Pennsylvania and Ohio, announces that a class action lawsuit has been filed in the United States District Court for the Northern District of California, on behalf of purchasers of the common stock of Maxim Integrated Products, Inc., (OTC: MXIM.PK) between April 29, 2003 through January 17, 2008 (the “Class Period”). The lawsuit was filed against Maxim and certain of its former officers (“Defendants”).
If you purchased the common stock of Maxim during the Class Period and wish to view a copy of a complaint and join the class action, please e-mail us at info@gsk-law.com, or call us at (888) 668-4130 for more information. If you purchased your shares during the Class Period, you may move the Court no later than April 7, 2008 to serve as a lead plaintiff for the Class. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
The complaint charges Defendants with engaging in an illegal stock option backdating scheme. As a result of that scheme, Maxim’s Class Period financial statements understated compensation expense, and thus overstated Maxim’s income and earnings per share by a material amount. The complaint charges Defendants with making false and misleading statements regarding Maxim’s stock option grants in violation of the Securities Exchange Act of 1934 and SEC Rule 10b-5.
On January 18, 2008, Maxim announced that it had expanded its investigation into its stock option granting practices, and it expects to restate its prior period financial statements to record $550 to $650 million of additional compensation expense. Maxim also announced that its financial statements during the Class Period should no longer be relied upon. In reaction to the news, Maxim shares dropped sharply from a close of $23.63 on January 16, 2008, to $18.07 on January 22, 2008. |
Court asked to lift Taslima book ban
Publish Date : 2/25/2005 10:10:00 AM
A rights activist here has moved court to get a ban on exiled Bangladeshi writer Taslima Nasreen's book 'Dwikhandito', or Split Into Two, lifted.
Action-packed parliament session from Friday
Publish Date : 2/25/2005 10:06:00 AM
Parliament begins Friday a three-month session featuring the Congress-led coalition's first full budget, a slew of reforms and expected political clashes under the shadow ....
Christian magician jailed for blasphemy
Publish Date : 2/25/2005 10:02:00 AM
A Pakistan court has sentenced a Christian magician to seven years' rigorous imprisonment for tearing up a copy of Quran as part of a magic act.
Manmohan Singh's maiden bilateral visit March-end
Publish Date : 2/25/2005 9:45:00 AM
Prime Minister Manmohan Singh is expected to undertake his first overseas bilateral visits in the last week of March, with a trip to Sri Lanka and Mauritius.
Home Minister Patil gets breathing space
Publish Date : 2/25/2005 9:36:00 AM
A few months ago his future in one of India's most powerful offices was in serious doubt. But now, Home Minister Shivraj Patil appears to have planted his feet firmly in his ministry.
Elections are in the air in Tamil Nadu
Publish Date : 2/24/2005 9:21:00 AM
With Tamil Nadu Chief Minister Jayaram Jayalalitha threatening fresh elections, the walls in the state capital are being painted white.
Nepal Army objects to UN envoy slur
Publish Date : 1/29/2005 2:01:00 PM
The Royal Nepalese Army Friday denied a top UN official's accusation that it was violating human rights of Maoist suspects with impunity.
NGOs at work in Rajasthan local body polls
Publish Date : 1/29/2005 1:52:00 PM
Posters, pamphlets, puppet shows, group discussions... all these methods and more are being used by civil rights groups in Rajasthan to increase awareness of the electorate ....
Gandhi urges voters to throw out 'corrupt' Chautalas
Publish Date : 1/29/2005 1:52:00 PM
Kicking off her campaign for the assembly polls, Congress president Sonia Gandhi told Harayana's voters Friday to elect a party that can work in harmony with the central government.
Illegitimate child? Caste will be father's!
Publish Date : 1/29/2005 1:48:00 PM
The Supreme Court Friday held that even an illegitimate child would inherit only his/her father's caste irrespective of the caste to which the mother belonged.
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