NEW YORK, March 1, 2007 (PRIME NEWSWIRE) -- The Brualdi Law Firm announces that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York, on behalf of persons who purchased or otherwise acquired publicly traded securities of Quanta Capital Holdings, Ltd. ("Quanta" or the "Company") (Nasdaq:QNTA) between May 14, 2004 and March 2, 2006, inclusive, (the "Class Period"). The lawsuit was filed against Quanta and certain officers and directors ("Defendants").
The class period in previously filed class action lawsuits filed by Quanta shareholders, or announced by other law firms, commences on December 15, 2005. The Complaint filed by our law firm contains a class period commencing seven months earlier, on May 14, 2004. The class period ends on March 2, 2006, the same end date of the other filed actions.
If you are a member of this class and wish to view a copy of a complaint and join this class action, please e-mail us at tleger@brualdilawfirm.com and request a copy of the complaint and a plaintiff certification. If you are a member of the Class, you may move the Court no later than April 6, 2007 to serve as a lead plaintiff for the Class. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. However, if you choose to remain an absent class member, unless and until a class is certified, you are not represented by counsel.
The complaint alleges that Defendants violated Section 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. Specifically, the complaint alleges that the Company failed to disclose and misrepresented that it had failed to properly account for losses and to set aside adequate reserves to account for specific, weather related claims in order to maintain a favorable rating from A.M. Best, Company.
If you bought Quanta securities between May 14, 2004 and March 2, 2006, inclusive, and would like to obtain information about the lawsuit, then you are invited to call (877) 495-1877 or email tleger@brualdilawfirm.com to speak with an advisor.
More information on this and other class actions can be found on the Class Action Newsline at www.primenewswire.com/ca