Alvarion Ltd in Securities Class Action Lawsuit
A class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of purchasers of Alvarion, Ltd. common stock between November 3, 2004 and May 12, 2006.
The complaint alleges that the Company and certain of its officers and directors has violated the Securities Exchange Act of 1934 by representing that its success was dependent, in substantial part, upon a “large operator in Latin America” – which was known to be Telmex, Mexico’s leading telecommunications company.
The complaint further alleges that, unbeknownst to investors, and despite assurances from defendants to the contrary, Alvarion’s sales to Telmex were rapidly decreasing. As this previously undisclosed information became known to the public in disclosures made on July 5, 2005, August 3, 2005 and May 12, 2006, shares of Alvarion stock declined.
If you wish to serve as lead plaintiff, you must move the Court no later than April 9, 2007. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Samuel H. Rudman or David A. Rosenfeld of Lerach Coughlin at 800/449-4900 or 619/231-1058 or via e-mail at wsl@lerachlaw.com. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.lerachlaw.com/cases/alvarion/. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Filed under Class Action, General Law
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