NEW YORK, Feb. 25, 2011 (GLOBE NEWSWIRE) -- The Rosen Law Firm today announced that a class action lawsuit has been filed on behalf of purchasers of the securities of Itron, Inc. ("Itron" or the "Company") (Nasdaq:ITRI) between April 28, 2010 and February 16, 2011, inclusive (the "Class Period"), seeking to recover damages for violations of federal securities laws.
To join the Itron class action, visit the firm's website at , or call Laurence Rosen, Esq. or Phillip Kim, Esq., toll-free, at 866-767-3653; you may also email lrosen@rosenlegal.com or pkim@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
According to the Complaint, the Company and certain of its executive officers issued false and misleading statements and/or failed to disclose that: (1) the Company improperly recognized revenue on a contract due to an extended warranty obligation; (2) the Company's revenue and financial results were overstated during the Class Period; (3) the Company's financial results were not prepared in accordance with Generally Accepted Accounting Principles; (4) the Company lacked adequate internal and financial controls; and (5), as a result of the above, the Company's financial statements were materially false and misleading at all relevant times. The Complaint asserts that when this adverse information entered the market, the price of Itron securities fell, damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than April 25, 2011. A lead plaintiff is a representative party that acts on behalf of absent class members in directing and overseeing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Laurence Rosen, Esq. or Phillip Kim, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at lrosen@rosenlegal.com or pkim@rosenlegal.com. You may also visit the firm's website at .
The Rosen Law Firm concentrates its practice on investor securities litigation, representing investors throughout the world.
Attorney Advertising. Prior results do not guarantee a similar outcome.
CONTACT: Laurence Rosen, Esq. lrosen@rosenlegal.com Phillip Kim, Esq. pkim@rosenlegal.com The Rosen Law Firm P.A. 275 Madison Avenue, 34th Floor New York, New York 10016 Tel: (212) 686-1060 Weekends/After-hours Tel: (917) 797-4425 Toll Free: 1-866-767-3653 Fax: (212) 202-3827 www.rosenlegal.com
