NEW YORK, May 30, 2008 (Lawfuel)– The Brualdi Law Firm P.C.
announced today that a class action lawsuit has been commenced in the
United States District Court of Oregon on behalf of purchasers of TRM
Corporation (Nasdaq:TRMM) common stock during the period between Mar
16, 2006, through May 22, 2007 (the “Class Period”).
No class has yet been certified in the above action. If you purchased
TRM Corporation (TRMM) stock during the Class Period, you may be a
member of the proposed Class. You must move the Court on or before July
22, 2008 if you wish to serve as a lead plaintiff. In making your
decision, you should take into account that those with large financial
losses resulting from the alleged federal securities law violations are
given preference in being appointed lead plaintiff.
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 Tali Leger,
Director of Shareholder Relations at The Brualdi Law Firm P.C., 29
Broadway, Suite 2400, New York, New York 10006, by telephone toll free
at (877) 495-1877 or (212) 952-0602, by email to
tleger@brualdilawfirm.com or visit our website at
The complaint alleges that, throughout the Class Period, defendants
issued positive statements about the Company’s financial health and
performance. As alleged in the complaint, these statements were
materially false and misleading because defendants misrepresented and
failed to disclose: (a) that the Company’s financial results were
artificially inflated due to the failure to timely write down certain
assets, which were materially overvalued in the Company’s financial
statements; (b) that the Company lacked adequate internal controls and
procedures necessary to ascertain its true financial condition and
worth; and (c) as a result of the foregoing, the Company’s ability to
continue its operations and remain a going-concern was in serious
doubt. At the end of the Class Period, the Company provided investors
with details about the progress of its restructuring plan and announced
new management positions. Following this disclosure, shares of the
Company’s stock declined dramatically.
