NEW YORK, Nov. 23, 2005 (PRIMEZONE) -- Labaton Sucharow & Rudoff LLP ("Labaton Sucharow") updates investors with respect to class action lawsuit against iMergent, Inc. ("iMergent" or the "Company") (AMEX:IIG).
By Order issued by United States District Judge Dee Benson for the District of Utah, Central Division, on August 22, 2005, Labaton Sucharow was appointed Lead Counsel for the class of investors who purchased or otherwise acquired the publicly traded securities of iMergent between November 30, 2004 and February 25, 2005 (2:05cv000204, In re iMergent Securities Litigation), pursuant to the Private Securities Litigation Reform Act of 1995 ("PSLRA"). As is common in securities fraud class actions, Labaton Sucharow has received court approval to file a consolidated amended class action complaint containing all new developments with respect to iMergent, on or before Monday November 28, 2005 (the "Consolidated Complaint"). The amended complaint will allege a class period of November 20, 2001 through October 24, 2005, inclusive, (the "Class Period") and contain all allegations against iMergent, its officers and directors, and its auditors under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The Consolidated Complaint will be available on Labaton Sucharow"s website, www.labaton.com.
Labaton Sucharow also intends to file a motion to consolidate with the iMergent securities litigation the case referred to in the press release of November 21, 2005, issued by the law firm of Kirby McInerney & Squire, LLP ("Kirby McInerney"). Labaton Sucharow's motion will request that the Court preclude any further lead plaintiff litigation in this matter, contrary to the press releases issued by Kirby McInerney. Accordingly, Labaton Sucharow intends to represent all persons or entities that purchased iMergent securities between November 20, 2001 and October 24, 2005, inclusive.
On behalf of Lead Plaintiffs and class, Labaton Sucharow has been actively engaged in an investigation of iMergent's accounting and business practices, and has discovered new facts in relevant to the claims of the class. If you have information that might be relevant to this investigation, or if you are an investor that purchased iMergent securities during the Class Period, please contact Labaton Sucharow at the number listed below.
Labaton Sucharow is one of the country's premier national law firms that represent individual and institutional investors in class action, complex securities and corporate governance litigation. The firm has been a champion of investor rights for over 40 years and has been recognized for its reputation for excellence by the courts.
If you have questions regarding this litigation, please contact one of our representatives or Christopher Keller, Esq. at 800-321-0476.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca.