Scott+Scott, LLC to File Lead Plaintiff Motion in Class Against Diebold This Monday
Saturday, February 11, 2006, Finanzen.net
Excerpt from the article:
COLCHESTER, Conn., Feb. 11 /PRNewswire/ — Scott+Scott, LLC (
http://www.scott-scott.com/), which initiated on December 13, 2005 the first securities fraud class action against Diebold, Inc. ("Diebold" or the "Company") and certain of its officers and directors, will file a Motion for Lead Plaintiff and Lead Counsel this Monday, February 13, 2006.
According to the complaint, Diebold "remained unable to assure the quality and working order of its voting machine products."
"It is further alleged that the Company's false and misleading statements served to conceal the dimensions and scope of internal problems at the Company . . culminating in false representations of astonishingly low and incredibly inaccurate restructuring charges for the 2005 fiscal year . . ."
"The complaint also alleges over $2.7 million of insider trading proceeds obtained by individual defendants during the Class Period."
The action is pending in the United States District Court for the Northern District of Ohio (No. 05CV2873). The Class is defined in the complaint drafted by Scott+Scott as those who purchased Diebold securities between October 22, 2003, and September 21, 2005, inclusive (the "Class Period").
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