DENVER, Oct. 13, 2006 (PRIMEZONE) -- The law firm of Shuman & Berens LLP (www.shumanberens.com) today announced that a shareholder derivative lawsuit has been filed in the United States District Court for the Northern District of Texas, Dallas Division against certain board of directors and officers of Flowserve Corporation (NYSE:FLS). The lawsuit alleges, among other things, that the defendants breached their fiduciary duties by knowingly disseminating to shareholders false and misleading information regarding the company's financial performance. As a result of the alleged improprieties, the company has announced that it has restated its financial results for certain prior years.
Flowserve Corporation current common stock shareholders may contact Kip B. Shuman of Shuman & Berens LLP at 1-800-711-6483 or via email at Kip@shumanberens.com, concerning their rights and interests the shareholder derivative lawsuit.
Shuman & Berens LLP attorneys have extensive experience in prosecuting shareholder litigation and have played significant roles in securities actions throughout the nation, resulting in substantial recoveries to investors. For more information about Shuman & Berens LLP go to www.shumanberens.com.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca.