Law Offices of Howard G. Smith announces that a securities class action lawsuit has been filed on behalf of all persons or entities who purchased the securities of Immersion Corporation (“Immersion” or the “Company”)(Nasdaq:IMMR) between May 3, 2007 and June 30, 2009, inclusive (the “Class Period”). The class action lawsuit was filed in the United States District Court for the Northern District of California.
The Complaint alleges that the defendants violated federal securities laws by issuing material misrepresentations to the market concerning Immersion’s financial performance, thereby artificially inflating the price of the Company’s securities. Specifically, the Complaint alleges that defendants failed to disclose or indicate that: (1) the Company overstated its income tax expense; (2) the Company improperly recognized revenue; (3) as a result, the Company’s revenue, accounts receivable and financial results were overstated during the Class Period; (4) the Company’s financial results were not prepared in accordance with Generally Accepted Accounting Principles; (5) the Company lacked adequate internal and financial controls; and (6) as a result of the foregoing, the Company''s financial statements were materially false and misleading at all relevant times.
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 Immersion Corporation securities between May 3, 2007 and June 30, 2009, you have certain rights, and have until November 2, 2009, to move for Lead Plaintiff status. 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215)638-4847, Toll-Free at (888)638-4847, by email to howardsmith@howardsmithlaw.com or visit our website at www.howardsmithlaw.com.
Contacts:
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
(215)
638-4847
(888) 638-4847
howardsmith@howardsmithlaw.com
