Company: Idearc
Ticker Symbol: IDARQ)
Class Period: Aug-10-07 to Mar-31-09
Date Filed: May-12-09
Lead Plaintiff Deadline: Jul-11-09
Court: Southern District of Texas
Allegations:
A securities class action lawsuit has been filed on behalf of all purchasers of the common stock of Idearc, Inc. (“Idearc” or the “Company”) (Pink Sheets:IDARQ) between August 10, 2007 and March 31, 2009, inclusive (the “Class Period”). The class action lawsuit was filed in the United States District Court for the Southern District of Texas.
The Complaint alleges that the defendants violated federal securities laws by issuing material misrepresentations to the market concerning Idearc’s operations, prospects and financial performance, thereby artificially inflating the price of Idearc securities.
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Any updates on this?
ReplyDeleteWill the top execs of the "reorganized " company be rewarded with millions of "new " shares ???? Why were the "old"shares trashed ??? Thet were not and liability to the company. It just makes the holders of the "new" stock own most of the company which was built with the money invested bo the "" old " stockholders. . This is a very transparent theft. How can the courts approve that ??? Is the court being paid off also ???
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