|
|
|
Barnhill & Vayernov Investigating Insight Enterprises, Inc.
Headline Legal News |
2009/02/12 09:38
|
Barnhill & Vaynerov LLP today announced that it is investigating potential claims against Insight Enterprises, Inc. ("Insight Enterprises" or the "Company") (Nasdaq:NSIT), on behalf of investors. The investigation pertains to possible securities violations related to public statements made by the Company between March 11, 2004 and February 6, 2009, in light of the Company's disclosure that it will have to restate its previously reported earnings.
On February 9, 2009, Insight Enterprises's stock declined nearly 50% after the Company shocked the market by revealing that it expects to restate financial statements included in the Company's most recently filed Annual Report on Form 10-K, for the year ended December 31, 2007, and in the Quarterly Reports on Form 10-Q for the first three quarters of fiscal year 2008. According to the Company, the restatement will also include a material reduction of retained earnings as of December 31, 2004, related to the accumulation of such errors in prior periods. Insight Enterprises has disclosed that the cumulative effect of the restatement is expected to be $50 million to $70 million. On this news, Insight Enterprises shares declined by $2.85 per share, more than 48%, to close on February 9, 2009 at $3.05 per share, on unusually heavy volume.
If you purchased or acquired Insight Enterprises common stock between March 11, 2004 and February 6, 2009, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Maxim Vaynerov, Esquire, of Barnhill & Vaynerov LLP, 8200 Wilshire Boulevard, Suite 400, Beverly Hills, California 90211, by telephone at (310) 943-8989, or by email to Vaynerov@aol.com. |
|
|
|
|
|
|
 |
Investment Fraud Litigation |
|
|
|
|
Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
|
|
|
| |
| |
| |
|
The content contained on the web site has been prepared by Securities Law News as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case. | Affordable Law Firm Website Design by Law Promo |
|
Legal News RSS Feed
