Reminder Of The Deadline: 12/08/08 For The Class Action Lawsuit On Behalf Of Certain AuthenTec Inc.(Nasdaq:AUTH) Investors
Last Update In The Shareholder Class Action Lawsuit Against AuthenTec Inc.(Nasdaq:AUTH) Over Alleged Violations Of Federal Securities Laws +++ Go To -> www.ShareholdersFoundation.com & Never Miss A Deadline +++
(A deadline is coming up in the shareholder lawsuit against AuthenTec Inc.(Nasdaq:AUTH) over alleged violations of Federal Securities Laws. The deadline will expire on December 08, 2008.
If you currently hold or purchased or otherwise acquired the securities of AuthenTec, Inc. (Nasdaq:AUTH) between April 28, 2008 and September 5, 2008 you should contact the Shareholders Foundation, Inc. There is a deadline running until December 08, 2008. Contact the Shareholders Foundation today!
On Thursday, October 09, 2008, a shareholder has filed a proposed class action lawsuit in the United States District Court for the Middle District of Florida on behalf of all persons or entities who purchased or otherwise acquired the securities of AuthenTec, Inc. (Nasdaq:AUTH) between April 28, 2008 and September 5, 2008 for alleged violations of federal securities laws by materially false and misleading statements concerning AuthenTec, Inc.’s business, operations and prospects. According to the Complaint charges AuthenTec and certain of the Company’s executive officers with violations of federal securities laws. Among other things, plaintiff claims that defendants’ material omissions and dissemination of materially false and misleading statements concerning the Company’s business, operations and prospects, caused AuthenTec’s stock price to become artificially inflated, inflicting damages on investors.
The plaintiff alleges that between April 28, 2008 and September 5, 2008 defendants knew or recklessly disregarded that their public statements concerning AuthenTec’s business and operations were materially false and misleading. The stockholder argues that defendants issued favorable revenue guidance and touted the Company’s financial performance, as well as AuthenTec’s prospects for sales and revenue growth. For example, on July 28, 2008 the Company provided revenue guidance of $19 million to $20 million for the third quarter of 2008 and $72 million to $78 million for the full year of 2008. But then on September 7, 2008, AuthenTec shocked investors when it issued a press release in which it revised downward its previously issued financial guidance and on this news, AuthenTec’s shares declined $3.84 per share, or 60.1 percent, to close on September 8, 2008 at $2.55 per share, so the lawsuit.
If you currently hold or purchased or otherwise acquired the securities of AuthenTec, Inc. (Nasdaq:AUTH) between April 28, 2008 and September 5, 2008 you should contact the Shareholders Foundation, Inc. There is a deadline running until December 08, 2008. Contact the Shareholders Foundation today!
Shareholders Foundation, Inc.
Allen Trevor
3111 Camino Del Rio North - Suite 423 -
92108 San Diego
Tel:+1-(858)-779-1554
Fax:+1-(858)-605-5739 Mail@ShareholdersFoundation.com www.ShareholdersFoundation.com
____________________________________________________________________________
Advertising. At Shareholders Foundation, Inc. we are in contact with a large number of shareholders. We are able to use our size to negotiate with significantly greater efficacy than the single investor with investigators, attorneys, and defendants. At Shareholders Foundation, Inc. we believe that together we can combine the interests of many investors, and use the size of our interest as leverage against the giant corporations. We offer help, support, and assistance for every shareholder by matching shareholder problems with the right legal experts, and finding equitable solutions. Shareholders Foundation, Inc. is comprised of a network of legal experts who both contribute to our vision for the Shareholders Foundation, Inc. and also represent the shareholders in real cases. The Shareholders Foundation, Inc. is not a law firm. Any statements made in press releases, emails or over the phone by any member or personnel employed by Shareholders Foundation, Inc. or by third parties related to the Shareholders Foundation, Inc. is provided for research and guidance purposes only and are not legal advices, as we can not give you legal advice. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
