WASHINGTON, Aug. 3, 2009 (GLOBE NEWSWIRE) -- Finkelstein Thompson LLP announces that it is investigating potential claims on behalf of shareholders of Huron Consulting Group ("Huron" or the "Company") (Nasdaq:HURN) arising from recent disclosures requiring the restatement of the Company's historic financial results.
On July 31, 2009, Huron Consulting Group announced that it would restate its financial reports for the fiscal years 2006, 2007 and 2008 and the first quarter of 2009, slashing its profits by almost half, after the Company's audit committee discovered that shareholders of four businesses that Huron acquired between 2005-2007 had diverted portions of their acquisition-related payments to themselves and to certain Huron employees. According to the Company, these payments are required to be classified as non-cash compensation expenses under U.S. accounting rules. The Company also announced that, as a result, its executive management team, including its CEO and CFO, would resign.
When this news was revealed, Huron shares plummeted more than 57 percent in after-hours trading on July 31, 2009, dropping from the closing price of $44.35 to less than $19 per share.
If you are interested in discussing your rights as a Huron shareholder, or have information relating to this investigation, please contact Finkelstein Thompson's Washington, DC offices at (877) 337-1050 or by email at contact@finkelsteinthompson.com
Finkelstein Thompson LLP has spent over three decades delivering outstanding representation to institutional and individual clients in connection with securities and other finance-related litigation, and has been appointed as lead or co-lead counsel in dozens of shareholder class actions. Indeed, the firm has served in leadership roles in cases that have recovered over $1 billion for investors and consumers. To learn more about Finkelstein Thompson LLP, please visit our web site at www.finkelsteinthompson.com.