NEW YORK, Nov. 17, 2006 (PRIMEZONE) -- Labaton Sucharow & Rudoff LLP filed a class action lawsuit on November 17, 2006, in the United States District Court for the Southern District of New York, on behalf of persons who purchased or otherwise acquired publicly traded securities of Jabil Circuit, Inc. ("Jabil" or the "Company") (NYSE:JBL) between September 19, 2001 and June 21, 2006, inclusive, (the "Class Period"). The lawsuit was filed against Jabil and certain officers and directors ("Defendants").
If you are a member of this class you can view a copy of the complaint and join this class action online at http://www.labaton.com.
The complaint alleges that Defendants violated Sections 10(b) and 20(a) of the Securities Act of 1934, 15 U.S.C. Sections 78j(b), 78n(a), and 78t(a) and Rule 10b-5 promulgated thereunder as well as 17 C.F.R. Sections 240.10b-5. Specifically, the complaint alleges that Jabil and certain officers and directors manipulated the prices of stock option grants and made materially false and misleading statements and or omitted material facts necessary to make those statements not misleading. The practice of backdating its stock options caused the Company to understate its compensation expense and thereby overstated its reported earnings. When the truth about the Company's stock options backdating emerged publicly, Jabil's stock declined as a result.
Plaintiff is represented by the law firm of Labaton Sucharow & Rudoff LLP. Labaton Sucharow is one of the country's premier national law firms that represent individual and institutional investors in class action, complex securities and corporate governance litigation. The firm has been a champion of investor rights for over 40 years and has been recognized for its reputation for excellence by the courts.
If you bought Jabil securities between September 19, 2001 and June 21, 2006, inclusive, you may qualify to serve as Lead Plaintiff. Lead Plaintiff papers must be filed with the court no later than November 20, 2006. If you would like to consider serving as lead plaintiff or have any questions about the lawsuit, please contact one of our representatives or Christopher Keller, Esq. at 800-321-0476.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca.