Scott+Scott, LLC Files New Complaint in Securities Fraud Class Action Against DHB Industries, Inc.
27 Outubro 2005 - 12:58PM
PR Newswire (US)
COLCHESTER, Conn., Oct. 27 /PRNewswire/ -- Scott+Scott, LLC
(http://www.scott-scott.com/) represents investors in a new
securities class action filed October 26, 2005, in the United
States District Court for the Eastern District of New York against
DHB Industries, Inc. (AMEX:DHB) and individual defendants (Case No.
2:05-cv-05009-JS-ETB). Purchasers of DHB securities between April
21, 2004, and August 29, 2005, inclusive (the "Class Period") are
members of the purported class. If you purchased DHB securities
during the Class Period, you may, no later than November 8, 2005,
move the Court to be appointed lead plaintiff. If you wish to
discuss this action or have questions concerning this notice, you
may contact the firm for more information. Scott+Scott will provide
class members with case materials, answer all questions regarding
your participation and rights and assist you with other services
the firm provides. There is no cost or fee to you. Contact
Scott+Scott partner Neil Rothstein (nrothstein@scott- scott.com,
800/332-2259, ext. 22 or cell 619/251-0887). Institutional
Investors may also contact the firm at . The complaint alleges that
during the Class Period, DHB and certain individual defendants,
including CEO David Brooks, violated the Securities Exchange Act of
1934 by making false and misleading statements causing artificial
inflation in the Company's stock price. Specifically, the complaint
alleges that DHB marketed its Zylon-based body armor while
concealing defect and safety issues from investors. The complaint
also alleges that the Company concealed defective accounting
practices relating to inventory items. Over $200 million in insider
trading is also alleged. The price of DHB's stock closed yesterday
at $2.80, almost 88% less than DHB's Class Period high of $22.70.
The plaintiff is represented by Scott+Scott, LLC, which has
significant experience in prosecuting investor class actions. The
firm dedicates itself to client communication and satisfaction and
currently is litigating major securities, antitrust and employee
retirement plan actions throughout the United States. The firm
represents pension funds, charities, foundations, individuals and
other entities worldwide. Cases currently being litigated and/or
investigated by Scott+Scott, LLC include: Refco, Inc.; Boston
Scientific Corp.; Immucor Inc.; Abercrombie & Fitch Co.; Cott
Corp.; Packeteer Inc.; Mercury Computer Systems Inc.; and TNS Inc.,
among others. DATASOURCE: Scott+Scott, LLC CONTACT: Neil Rothstein
of Scott+Scott, LLC, +1-800-332-2259, ext. 22, Web site:
http://www.scott-scott.com/
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