Kohn, Swift & Graf, P.C. Announces Commencement of Lawsuit Against Pall Corpo...( PHILADELPHIA Oct. 11 /- The law f...),Health

PHILADELPHIA, Oct. 11 /PRNewswire/ -- The law firm of Kohn, Swift & Graf, P.C. announces that a class action shareholder lawsuit has been commenced against Pall Corporation ("Pall" or the "Company") (NYSE: PLL). The lawsuit, filed in the United States District Court for the Eastern District of New York, seeks damages for violations of federal securities laws on behalf of all investors who purchased Pall securities between April 20, 2007 and August 8, 2007 (the "Class Period").

The Complaint alleges that Pall and certain of its officers and directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, 15 U.S.C. Sections 78j(b) and 78t(a) and Rule 10b-5 promulgated thereunder, 17 C.F.R. Section 240.10b-5. The Company, together with its subsidiaries, manufactures and markets filtration, purification, and separation products and integrated systems solutions worldwide.

According to the Complaint, during the Class Period, defendants issued materially false and misleading statements that misrepresented and failed to disclose: (1) that Pall was materially overstating its financial results by understating its income tax liability; (2) that the Company misstated its effective tax rate, and the factors affecting the Company's effective tax rate; (3) that the Company's financial statements were not prepared in accordance with Generally Accepted Accounting Principles ("GAAP"); (4) that the Company lacked adequate internal and financial controls; and (5) that, as a result of the foregoing, the Company's financial statements were materially false and misleading at all relevant times.

On July 19, 2007, after the markets closed, Pall announced that the Audit Committee of its Board of Directors ha
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