NEW YORK, Sept. 4, 2009 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. announces that a class action lawsuit has been filed on behalf of all purchasers of Immersion Corporation's ("Immersion") (Nasdaq:IMMR) publicly traded securities during the period between May 3, 2007 and June 30, 2009 (the "Class Period").
To join the Immersion 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. YOU MAY ALSO RETAIN COUNSEL OF YOUR CHOICE.
The complaint asserts violations of the federal securities laws against Immersion and certain of its officers and directors. The complaint alleges that defendants made misleading statements concerning the Company's transactions in its Medical line of business. In particular, the complaint asserts that defendants failed to disclose that Immersion's revenue recognition policies in its Medical line of business were improper and violated GAAP and the Company's own internal accounting policies.
When the truth about Immersion's alleged improper accounting practices began to enter the market, the price of the Immersion's stock drastically fell. On July 1, 2009, Immersion announced that it was conducting an internal investigation into previous revenue transactions in its Medical line of business. This announcement caused the Company's stock to fall over 23%.
A class action lawsuit has already been filed on behalf of Immersion shareholders. If you wish to serve as lead plaintiff, you must move the Court no later than November 2, 2009. 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.
The Rosen Law Firm represents investors throughout the world, focusing its practice in securities class actions and shareholder derivative litigation. Attorney Advertising. Prior results do not guarantee a similar outcome.