NEW YORK, Feb. 14, 2008 (PRIME NEWSWIRE) -- The Rosen Law Firm today announced its ongoing investigation of civil securities claims against Opnext, Inc. ("Opnext" or the "Company") (Nasdaq:OPXT) concerning allegations that Opnext issued a materially inaccurate Registration Statement and Prospectus in connection with the Company's Initial Public Offering ("IPO") on February 14, 2007.
On February 13, 2008 the Company announced that its previously issued financial statements for the fiscal years ended March 31, 2007 and 2006 and certain interim quarterly periods can no longer be relied upon and have to be restated. This adverse announcement caused the Company's stock to fall $0.89 per share, or 16.6%, that day.
As a result of these allegations, the Rosen Law Firm is preparing a class action lawsuit on behalf of investors who purchased the common stock of Opnext from the date of Opnext's IPO, February 14, 2007 through February 13, 2008.
You may access the website at http://www.rosenlegal.com to participate in the proposed class action.
If you purchased Opnext stock and would like further information concerning your legal rights, please contact Laurence Rosen, Esq. or Phillip Kim, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at lrosen@rosenlegal.com or pkim@rosenlegal.com.