CORAL SPRINGS, Fla., Jan. 19, 2005 (PRIMEZONE) -- The law firm of Mager White & Goldstein, LLP announces that a class action lawsuit has been filed in the United States District Court for the District of Arizona on behalf of all persons who purchased securities of Taser International, Inc.("TASER" or the "Company") (Nasdaq:TASR) between November 4, 2004 and January 6, 2005 (the "Class Period").
The Complaint charges that TASER and certain of its officers and directors issued false and misleading statements regarding the safety of the Company's Taser guns and the increasing demand for the products. The Complaint further alleges that defendants failed to disclose that: 1) the research conducted on the safety of the Tasers was inconclusive and that if this information was revealed, the Company's earnings would be negatively affected; and 2) a last-minute order for Tasers that was received from one of its distributors was done to help the Company meet its quarterly sales goals and therefore did not reflect the true demand for the Tasers.
On January 6, 2005, at market close, TASER announced that they had received an informal inquiry letter from the Securities and Exchange Commission concerning the safety of its products and a recent $1.5 million order received from one of its distributors. The market reacted quickly to the announcement, and on January 7, 2005, shares of TASER common stock fell $4.90 per share, to close at $22.72, down 18% from the previous day's close.
If you bought TASER securities between November 4, 2004 and January 6, 2005, and sustained damages, you may, no later than March 11, 2005, request that the Court appoint you as lead plaintiff. A lead plaintiff is a representative who acts on behalf of other class members in directing the litigation. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by whether or not you serve as a lead plaintiff. You may retain Mager White & Goldstein, LLP, or other counsel, to represent you in this action.
Mager White & Goldstein has offices in Pennsylvania and Florida. The firm's attorneys have been litigating complex commercial matters for over twenty years. The firm concentrates its practice in the areas of complex commercial litigation with emphasis on securities, antitrust, consumer protection, employment, civil rights and ERISA individual and class actions, as well as labor and employment advice, Lanham Act, trade disparagement, and other types of business tort litigation. Please visit the Mager White & Goldstein website (http://www.mwglawfirm.com) for more information about the firm.
If you wish to discuss the lawsuit against TASER with us, or if you have any questions about this notice or your rights and interests with regard to this case, please contact the following attorney:
Jayne Arnold Goldstein 2825 University Drive, Suite 350 Coral Springs, FL 33065 954-341-0844 866-274-8258 Toll Free Email: jgoldstein@mwg-law.com
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca