Securities Class Action Lawsuit Filed Against U.S. Auto Parts Network, Inc.
A class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of all persons who acquired common stock of U.S. Auto Parts Network, Inc. pursuant to the company’s Registration Statement and Prospectus issued in connection with its February 8, 2007 Initial Public Offering.
The class action alleged that the company violated federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 by issuing a series of material misrepresentations to the market which had the effect of artificially inflating the market price.
Plaintiff seeks to recover damages on behalf of the Class. If you are a member of the Class as described above, you may move the Court no later than Monday, May 28, 2007, to serve as a lead plaintiff for the Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.
Filed under Class Action, General Law
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