A law office recently announced that a securities class action claim was filed against an electronic security firm for potential securities law violations.
Robbins Geller Rudman and Dowd, LLP, noted that the litigation was filed in the U.S. District Court for the Southern District of Florida against ADT Corporation. This includes all shareholders who acquired interests in the company during the class period between Nov. 27, 2012, and Jan. 29, 2014.
Allegations against ADT Corporation involve the company's leaders sending out information to investors that was either false or misleading regarding the financial performance and outlook for the company in 2013 and 2014. This includes violations of the Securities Exchange Act of 1934.
It is possible for shareholders to apply for the position of lead plaintiff, though they will need to do so within 60 days of the filing date. This is not a mandatory position, and no penalty will occur if a shareholder does not apply for this with the court.
Shareholders also have the option to speak with the law office in order to gain more information about how they may be affected by this action, as well as what they need to do in the future. Darren Robbins is the best person to discuss these matters with, and can be contacted by telephone or email. Visiting the law office's website will provide stockholders with a copy of the complaint.
Second lawsuit announced
Another law firm explained that it filed a class action lawsuit against ADT Corporation in the same court for the same class period.
Kahn Swick and Foti, LLC, noted that the litigation against the company has a lead plaintiff deadline of June 27, 2014, and interested stockholders will need to complete their paperwork and have the court receive it by then.
Two major issues occurred to prompt the lawsuit. The first was on Nov. 25, 2013, when the company noted that one of its board members was selling back his common stock to the company at an inflated price following his resignation. The second happened on Jan. 30, 2014, when the company noted that its first quarter results would drop to lower than was initially projected.
It is possible to also speak with this law office in order to learn more information about this case. Lewis Kahn and Melinda Nicholson are available by telephone or email to speak on matters regarding legal rights and the ability to recover money lost.