WorldSpace 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 shareholders who purchased or otherwise acquired the common stock of WorldSpace, Inc. pursuant to the initial public offering of WorldSpace commencing on or about August 4, 2005.
The complaint alleges that defendants violated federal securities laws by issuing a series of materially false and misleading statements to the market throughout the Class Period, which statements had the effect of artificially inflating the market price of the Company’s securities.
No class has yet been certified in the above action. If you are a member of the proposed class, you may retain counsel of your choice, and you may move the court no later than May 15, 2007 to serve as a lead plaintiff for the proposed class. In order to serve as a lead plaintiff, you must meet certain legal requirements.
Filed under Class Action, General Law
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