Thursday, August 6, 2009

Huron Consulting Group, Inc. HURN Securities Stock Fraud

Company: Huron Consulting Group, Inc.
Ticker Symbol: HURN
Class Period: Apr-27-06 to Jul-31-09
Date Filed: Aug-5-09
Lead Plaintiff Deadline: Oct-4-09
Court: Northern District of Illinois
A lawsuit seeking class action status has been filed in the United States District Court for the Northern District of Illinois on behalf of those who purchased the common stock of Huron Consulting Group, Inc. ("Huron" or the "Company") between April 27, 2006 and July 31, 2009 (the "Class Period").

The Complaint charges that Huron and certain of its officers and directors violated federal securities laws by issuing materially false statements regarding Huron's financial results. Specifically, the Complaint alleges that the Company misaccounted for payments made as part of acquisitions.

On July 31, 2009, Huron announced that it would restate its financial results from 2006 through 2008 and the first three months of 2009 due to its failure to properly account for earn-out payments made in connection with four of its acquisitions. As a result, Huron expected to dramatically reduce its revenue reported for the period by 48% from $120 million on an aggregate basis to $63 million. Huron further announced that the SEC had commenced an inquiry into the Company's allocation of chargeable hours related to its recognition of revenue. On this news, Huron's stock fell $30.66 per share to close at $13.69 per share on August 3, 2009, a decline of approximately 69%.

If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.

Huron Consulting Group, Inc. HURN Securities Fraud Legal Help
If you have suffered from financial losses, you may qualify for damages or remedies that may be awarded in a possible Huron Consulting Group, Inc. securities class action lawsuit. Please click the link below to submit your complaint for a free evaluation.

Click on title above for legal help and a free evaluation of your possible case


No comments:

Post a Comment