LOS ANGELES, May 10, 2007 (PRIME NEWSWIRE) -- On April 18, 2007, Kreindler & Kreindler LLP filed a class action lawsuit in the United States District Court for the Northern District of California on behalf of all purchasers of the common stock and other securities of Cutera, Inc. ("Cutera" or the "Company") (Nasdaq:CUTR) from January 31, 2007 through April 4, 2007 (the "Class Period"). Defendants included Cutera and certain of its top officers and directors. Plaintiff will be amending this Complaint to assert a new, longer Class Period: from January 31, 2007 through May 7, 2007.
On May 7, 2007, after the close of trading, Cutera announced: "The unsuccessful implementation of our junior sales program, unusually high sales employee turnover, and disappointing results from PSS and other national accounts," and it forecasted fiscal second quarter and 2007 sales below expectations.
None of these adverse developments were adequately disclosed on April 4, 2007 when, in announcing disappointing results, CEO Connors stated: "This quarter's shortfall was due primarily to lower than expected productivity levels of our recent sales expansion. We are implementing specific initiatives to address this matter and remain confident in our ability to increase our revenue growth." On May 8, 2007, Cutera shares closed at $23.40, down $5.84, on heavy volume.
If you purchased Cutera stock during the Class Period, you may qualify to serve as Lead Plaintiff on behalf of the Class, which consists of all persons and entities who purchased Cutera stock and other securities from January 31, 2007 through May 7, 2007. You are not required to have sold your Cutera stock in order to claim damages, or to serve in this role. All motions for appointment as Lead Plaintiff must be filed with the Court by June 18, 2007.
For further information on the lawsuit or to obtain a copy of the Complaint, please contact Mark Labaton, Esq. or Gabriel Barenfeld, Esq. at 213 622-6469 or Hilary Taylor, Esq., toll free at 1-800-331-2782, or contact counsel by e-mail to mlabaton@kreindler.com or gbarenfeld@kreindler.com. These lawyers will personally speak with you at no cost or obligation.
Kreindler & Kreindler's class action and complex litigation lawyers represent groups and individuals throughout the country in securities class and direct actions; antitrust and consumer class actions; takeover, merger and derivative actions; patent litigation; whistle-blower litigation; and other complex commercial lawsuits. Our partners who head this practice have litigated dozens of complex lawsuits that have resulted in multi-million dollar settlements and judgments on behalf of their clients. Over their careers, they have played key front-line roles in cases resulting in favorable settlements or judgments of close to two billion dollars.
More information on this and other class actions can be found on the Class Action Newsline at www.primenewswire.com/ca.