Navigation Links
Law Offices of Howard G. Smith Announces Class Action Lawsuit on Behalf of Investors of PharmaNet Development Group, Inc.
Date:11/23/2008

BENSALEM, Pa., Nov. 23 /PRNewswire/ -- Law Offices of Howard G. Smith announces that a class action lawsuit has been filed in the United States District Court for the District of New Jersey against PharmaNet Development Group, Inc. ("PharmaNet" or the "Company") (Nasdaq: PDGI), on behalf of all persons who purchased or otherwise acquired the Company's common stock between November 1, 2007 and April 30, 2008. The complaint alleges that the Company and certain of its executive officers violated federal securities laws. Specifically, the complaint alleges that certain public statements made by PharmaNet during that period were materially false and misleading because the statements failed to disclose or indicate, among other things: (1) that a substantial portion of the contracts in the Company's backlog were likely to be cancelled; (2) that the Company had increased its expenses in order to perform these contracts even though the contracts were likely to be cancelled; and (3) that as a result, statements made by the Company and management during that period about the Company's business, operations, and prospects lacked a reasonable basis.

On April 30, 2008 PharmaNet announced that it was revising downward its previously issued revenue guidance for 2008. The Company explained that cancellations over the fourth quarter of 2007 and the first quarter of 2008 of approximately $59 million would negatively impact projected revenues for 2008 by approximately $30 million. On this news, PharmaNet's shares declined $6.76 per share, or 28.33 percent, to close on May 1, 2008 at $17.10 per share, on unusually heavy trading volume.

If you are a member of the class described above, you may move the Court, no later than January 19, 2009 to serve as lead plaintiff, however, you must meet certain legal requirements. If you purchased PharmaNet's common stock between November 1, 2007 and April 30, 2008 or if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to Howardsmith@Howardsmithlaw.com.


'/>"/>
SOURCE Law Offices of Howard G. Smith
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Law Offices of Howard G. Smith Announces Class Action Lawsuit Against LCA-Vision Inc.
2. The Law Offices of John David Hart: Texas Man Sues Medtronic in Body-Snatching Case
3. Law Offices of Howard G. Smith Announces Class Action Lawsuit Against Micrus Endovascular Corporation
4. Demonstration at Carlyle Group Offices Monday as Grassroots Caravan of Caregivers, Senior Advocates Arrives in D.C. to Speak Out for Improved Care, Staffing at Nations Largest Nursing Home Chain
5. Law Offices of Howard G. Smith Announces Class Action Lawsuit Against WellCare Health Plans, Inc.
6. Law Offices of Howard G. Smith Announces 14 Days Remaining to Move to Be a Lead Plaintiff in the Shareholder Lawsuit Against Care Investment Trust Inc.
7. Northern Fertility & Reproductive Associates Adds Two Local Infertility Specialists to Staff, Opens New Offices In Center City And Blue Bell
8. Law Offices of Howard G. Smith Announces 25 Days Remaining to Move to Be a Lead Plaintiff in the Shareholder Lawsuit Against Micrus Endovascular Corporation
9. Law Offices of Howard G. Smith Announces 25 Days Remaining to Move to Be a Lead Plaintiff in the Shareholder Lawsuit Against Threshold Pharmaceuticals, Inc.
10. Law Offices of Howard G. Smith Announces Class Action Lawsuit Against Security Capital Assurance Ltd.
11. OrthoSynetics(TM) Opens Regional Offices in Dallas, Atlanta
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/20/2017)... ... February 20, 2017 , ... Best Doctors® and IBM ... benefit for companies that want to help members of their workforce battling cancer. ... access to Watson’s suite of oncology offerings for insights on cancer treatment options, ...
(Date:2/20/2017)... ... February 20, 2017 , ... ... providers and health plan partners, announced during the 2017 Annual HIMSS Conference ... care coordination for diabetic patients and integrating eye care into mainstream healthcare ...
(Date:2/19/2017)... ... February 19, 2017 , ... "At your ... care, and MEDfx and the Delaware Health Information Network (DHIN) have partnered to ... nation’s first state-wide health information exchange, DHIN stores and shares real-time health data ...
(Date:2/18/2017)... ... February 17, 2017 , ... ... drvallecillos.com , Beverly Hills plastic surgeon Dr. Glenn Vallecillos experiments ... Dr. Vallecillos says, "Traditionally, plastic surgery has been centered around that idea that ...
(Date:2/17/2017)... ... February 17, 2017 , ... ... kept pace. Enovate Medical has introduced an innovative workstation designed to reduce nursing ... nurses, the Encore Mobile EHR Workstation offers a lightweight, highly mobile, multi-functional alternative ...
Breaking Medicine News(10 mins):
(Date:2/19/2017)... British Columbia , February 18, 2017 ... into an agreement to purchase a Medical Delivery Service ... or coordinate cannabis transactions between qualified patients and caregivers. ... Mirage , located in the Coachella Valley, ... Greater Los Angeles area to ...
(Date:2/18/2017)... HILL, N.C. , Feb. 17, 2017  Pharmaceutical companies ... insights about products either in development or already on the ... have forced the pharma industry to alter how it manages ... boards, consulting leader Best Practices, LLC conducted a new study ... ...
(Date:2/17/2017)... , Feb. 17, 2017 Arvinas LLC, ... drugs based on protein degradation, today announced the presentation ... (AR) PROTAC during a poster session at the American ... GU) in Orlando, FL. ... validate our platform and the potential of PROTACs to ...
Breaking Medicine Technology: