NEW YORK, Dec. 12, 2008 (GLOBE NEWSWIRE) -- The Rosen Law Firm today announced its investigation into allegations that GSI Group, Inc. ("GSI" or the "Company") (Nasdaq:GSIG) violated the federal securities laws by issuing materially false and misleading financial results.
On December 4, 2008, the Company announced that it would restate its quarterly financial results for the first and second fiscal quarters of 2008. GSI disclosed that it had overstated its revenues by $8.9 million for the first quarter and $7.2 million for the second quarter of 2008. As a result of these disclosures, the Company's stock price has declined over 45%.
If you purchased GSI stock and would like further information concerning your legal rights and ability to recover your investment losses in GSI stock, or if you have any information concerning GSI's revenue reporting practices, 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.
The Rosen Law Firm has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud. The Rosen Law Firm represents investors throughout the nation, concentrating its practice in securities class actions.