NEW YORK, Dec. 19, 2008 (GLOBE NEWSWIRE) -- The Brualdi Law Firm, P.C. announces that a lawsuit has been commenced in the United States District Court for the District of Maryland on behalf of purchasers of Integral Systems, Inc. ("Integral Systems" or the "Company") (Nasdaq:ISYS) securities during the period between April 28, 2008 and December 10, 2008 (the "Class Period") for violations of the federal securities laws.
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. If you purchased Integral Systems common stock during the Class Period, and wish to move the court for appointment of lead plaintiff, you must do so by February 16, 2009. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You do not need to seek appointment as a lead plaintiff in order to share in any recovery.
To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Sue Lee at The Brualdi Law Firm, P.C. 29 Broadway, Suite 2400, New York, New York 10006, by telephone toll free at (877) 495-1187 or (212) 952-0602, by email to slee@brualdilawfirm.com or visit our website at http://www.brualdilawfirm.com.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the Company's failure to disclose during the Class Period that its financial results were materially overstated and that financial statements were not prepared in accordance with Generally Accepted Accounting Principles. According to the complaint, on December 11, 2008, after the Company revealed accounting errors for the first three quarters of 2008, the value of Integral Systems' stock declined significantly.