NEW YORK, March 1, 2008 (PRIME NEWSWIRE) -- The Rosen Law Firm reminds investors of the April 21, 2008 lead plaintiff deadline in the class action lawsuit on behalf of purchasers of Opnext, Inc. ("Opnext") (Nasdaq:OPXT) stock. If you purchased Opnext stock at anytime from the date of the Company's Initial Public Offering (the "IPO") on February 14, 2007 through February 13, 2008 you can participate in this securities class action to recover losses for Opnext investors.
To join the Opnext class action, go to the website at http://www.rosenlegal.com or call Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653 or email lrosen@rosenlegal.com or pkim@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER.
While numerous other law firms have issued notices of the class action, the Rosen Law Firm is the only law firm to file a class action on behalf of Opnext investors to date.
The complaint charges that Opnext and certain of its present and former officers, directors, and control persons violated Sections 11 and 15 of the Securities Act of 1933 by issuing a materially inaccurate Registration Statement and Prospectus (collectively the "Registration Statement") in connection with the Company's IPO.
According to the Complaint, on or about February 14, 2007 Opnext commenced its IPO priced at $15.00 per share for over 16 million shares of stock. The Complaint asserts that Opnext's Registration Statement was materially false because: (i) the Company's reported net income for the quarter and six months ended December 31, 2007 was overstated; and (ii) the Company's reported net loss for the fiscal year ended March 31, 2006 was understated. When this adverse information was disclosed, the Complaint alleges that Opnext's stock price declined, damaging investors.
A class action lawsuit has already been filed on behalf of Opnext shareholders. If you wish to serve as lead plaintiff, you must move the Court no later than April 21, 2008. If you wish to join the litigation or to discuss your rights or interests regarding this class action, please contact plaintiff's counsel, 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.
More information on this and other class actions can be found on the Class Action Newsline at www.primenewswire.com/ca.