MINNEAPOLIS, Aug. 7, 2009 (GLOBE NEWSWIRE) -- Charles H. Johnson & Associates announces that a class action has been commenced in the United States District Court for the District of Nevada on behalf of purchasers of International Game Technology ("IGT" or the "Company") (NYSE:IGT) publicly traded securities during the period November 1, 2007 through October 30, 2008 (the "Class Period").
If you are a member of the proposed Class, you may move the Court to serve as a lead plaintiff for the Class on or before September 28, 2009. You do not need to be a lead plaintiff in order to share in any recovery that may be obtained.
The Complaint alleges that Defendants failed to disclose that they had problems associated with gaming platforms, thereby undermining their optimistic statements made during the Class Period. It also alleges that Defendants failed to disclose that IGT was unable to develop and market its server-based ("SB") and advanced video ("AVP") gaming platforms within the time frame they had represented to investors due to increasingly challenging market conditions and mounting costs. The Complaint further alleges that the Company failed to adequately and timely record losses for its impaired loans, causing its financial results to be false. Defendants also issued misleading positive statements concerning the Company's shift to non-machine based operations. As a result, it was unlikely that IGT would achieve or exceed its earnings guidance.
If you purchased International Game Technology stock during the Class Period, or have any questions concerning this notice or your rights with respect to this matter, please contact:
Neal Eisenbraun, Esq. (cjohnsonlaw@gmail.com)
Charles H. Johnson & Associates
2599 Mississippi Street
New Brighton, MN 55112
(651) 633-5685