For Scott + Scott, LLC I attached a press release to go very soonto NYC and LATImes
Please call at 619-251-0887
Scott+Scott, LLC to File Lead Plaintiff Motion in Class Against Diebold Inc. Today
Scott Firm Filed Initial Complaint on December 13, 2005; Clients Allege a Vote
of No Confidence in Diebold Voting Machines.
COLCHESTER, Conn., Feb. 13 — Scott+Scott, LLC
(http://www.scott-scott.com
), which initiated on December 13, 2005 the first
securities fraud class action against Diebold, Inc. (“Diebold” or the
“Company”) (NYSE: DBD) and certain of its officers and directors, will file a
Motion for Lead Plaintiff and Lead Counsel this Monday, February 13, 2006. The
action is pending in the United States District Court for the Northern
District of Ohio (No. 05CV2873). The Class is defined in the complaint drafted
by Scott+Scott as those who purchased Diebold securities between October 22,
2003, and September 21, 2005, inclusive (the “Class Period”). However, any
purchaser of Diebold securities can contact the firm as the Class Period may
change as information is revealed. Diebold engages in the development,
manufacture, sale, and service of systems, software, and various products used
to equip bank facilities such as automatic teller machines.
On February 7, 2006, M.R. Kropko, an Associated Press business writer
quoted Diebold CEO Thomas Swidarski as stating, “there’s pieces and aspects of
each of our businesses that I’m going to be looking at with a very critical
eye in terms of what the future holds for us.” Kropko also wrote in his
article that “Diebold’s former chairman and CEO, Walden O’Dell, resigned Dec
12 after several years of controversy surrounding Diebold’s touch-screen
voting machines and O’Dell’s financial contributions to President Bush’s
campaign.”
If you wish to discuss this action or have questions concerning this
notice or your rights, please contact Scott+Scott for more information.
Scott+Scott will provide class members with case materials, answer all
questions regarding participation and rights and assist with other services
the firm provides. There is no cost or fee to you. Contact Scott+Scott partner
David R. Scott (drscott@scott-scott.com) at 800/404-7770 or 800/332-2259.
Diebold investors may also contact the firm at
DieboldSecuritiesLitigation@scott-scott.com. The Firm has offices in Ohio,
Connecticut, and California.
The complaint alleges that defendants violated provisions of the United
States securities laws, causing artificial inflation of the Company’s stock
price. According to the complaint, during the Class Period, the Company lacked
a credible state of internal controls and corporate compliance and remained
unable to assure the quality and working order of its voting machine products.
It is further alleged that the Company’s false and misleading statements
served to conceal the dimensions and scope of internal problems at the
Company, impacting product quality, strategic planning, forecasting and
guidance and culminating in false representations of astonishingly low and
incredibly inaccurate restructuring charges for the 2005 fiscal year, which
grossly understated the true costs and problems defendants faced to
restructure the Company. The complaint also alleges over $2.7 million of
insider trading proceeds obtained by individual defendants during the Class
Period.
Finally, investors learned the truth about the adverse impact of the
Company’s alleged defective and deficient inventory-related controls and
systems on Diebold’s financial performance. As a result of defendants’
shocking news and disclosures of September 21, 2005, the price of Diebold
shares plunged 15.5% on unusually high volume, falling from $44.37 per share
on September 20, 2005, to $37.47 per share on September 21, 2005, for a
one-day drop of $6.90 per share on volume of 6.1 million shares — nearly
eight times the average daily trading volume. The stock is currently trading
at about $39.04.
The plaintiff is represented by Scott+Scott, LLC, a firm with significant
experience in prosecuting investor class actions. The firm dedicates itself to
client communication and satisfaction and currently is litigating major
securities, antitrust and employee retirement plan actions throughout the
United States. The firm represents pension funds, charities, foundations,
individuals and other entities worldwide. Cases currently being litigated
and/or investigated by Scott+Scott, LLC include: Proquest Company; GrafTech
International Ltd.; Estee Lauder; Halliburton; and pension retirement cases
for General Motors and Ford Motor Company Inc. employees, among others. Its
success has brought shareholders hundreds of millions of dollars in cases
against Mattel, Royal Dutch/Shell, Sprint, ImClone and others.
For more information, contact:
David R. Scott
1-800-404-7770
1-800-332-2259
e-mail: drscott@scott-scott.com
–or–
Neil Rothstein
619-251-0887 (cell)
e-mail: nrothstein@scott-scott.com
SOURCE Scott+Scott, LLC
Web Site: http://www.scott-scott.com
Issuers of news releases and not PR Newswire are solely responsible for the accuracy of the content.
Terms and conditions, including restrictions on redistribution, apply.
Copyright © 1996-2006 PR Newswire Association LLC. All Rights Reserved.
A United Business Media company.
Scott Firm Filed Initial Complaint on December 13, 2005; Clients Allege a Vote
of No Confidence in Diebold Voting Machines.
COLCHESTER, Conn., Feb. 11 /PRNewswire/ — Scott+Scott, LLC
(http://www.scott-scott.com), which initiated on December 13, 2005 the first
securities fraud class action against Diebold, Inc. (“Diebold” or the
“Company”) (NYSE: DBD) and certain of its officers and directors, will file a
Motion for Lead Plaintiff and Lead Counsel this Monday, February 13, 2006. The
action is pending in the United States District Court for the Northern
District of Ohio (No. 05CV2873). The Class is defined in the complaint drafted
by Scott+Scott as those who purchased Diebold securities between October 22,
2003, and September 21, 2005, inclusive (the “Class Period”). However, any
purchaser of Diebold securities can contact the firm as the Class Period may
change as information is revealed. Diebold engages in the development,
manufacture, sale, and service of systems, software, and various products used
to equip bank facilities such as automatic teller machines.
On February 7, 2006, M.R. Kropko, an Associated Press business writer
quoted Diebold CEO Thomas Swidarski as stating, “there’s pieces and aspects of
each of our businesses that I’m going to be looking at with a very critical
eye in terms of what the future holds for us.” Kropko also wrote in his
article that “Diebold’s former chairman and CEO, Walden O’Dell, resigned Dec
12 after several years of controversy surrounding Diebold’s touch-screen
voting machines and O’Dell’s financial contributions to President Bush’s
campaign.”
If you wish to discuss this action or have questions concerning this
notice or your rights, please contact Scott+Scott for more information.
Scott+Scott will provide class members with case materials, answer all
questions regarding participation and rights and assist with other services
the firm provides. There is no cost or fee to you. Contact Scott+Scott partner
David R. Scott (drscott@scott-scott.com) at 800/404-7770 or 800/332-2259.
Diebold investors may also contact the firm at
DieboldSecuritiesLitigation@scott-scott.com. The Firm has offices in Ohio,
Connecticut, and California.
The complaint alleges that defendants violated provisions of the United
States securities laws, causing artificial inflation of the Company’s stock
price. According to the complaint, during the Class Period, the Company lacked
a credible state of internal controls and corporate compliance and remained
unable to assure the quality and working order of its voting machine products.
It is further alleged that the Company’s false and misleading statements
served to conceal the dimensions and scope of internal problems at the
Company, impacting product quality, strategic planning, forecasting and
guidance and culminating in false representations of astonishingly low and
incredibly inaccurate restructuring charges for the 2005 fiscal year, which
grossly understated the true costs and problems defendants faced to
restructure the Company. The complaint also alleges over $2.7 million of
insider trading proceeds obtained by individual defendants during the Class
Period.
Finally, investors learned the truth about the adverse impact of the
Company’s alleged defective and deficient inventory-related controls and
systems on Diebold’s financial performance. As a result of defendants’
shocking news and disclosures of September 21, 2005, the price of Diebold
shares plunged 15.5% on unusually high volume, falling from $44.37 per share
on September 20, 2005, to $37.47 per share on September 21, 2005, for a
one-day drop of $6.90 per share on volume of 6.1 million shares — nearly
eight times the average daily trading volume. The stock is currently trading
at about $39.04.
The plaintiff is represented by Scott+Scott, LLC, a firm with significant
experience in prosecuting investor class actions. The firm dedicates itself to
client communication and satisfaction and currently is litigating major
securities, antitrust and employee retirement plan actions throughout the
United States. The firm represents pension funds, charities, foundations,
individuals and other entities worldwide. Cases currently being litigated
and/or investigated by Scott+Scott, LLC include: Proquest Company; GrafTech
International Ltd.; Estee Lauder; Halliburton; and pension retirement cases
for General Motors and Ford Motor Company Inc. employees, among others. Its
success has brought shareholders hundreds of millions of dollars in cases
against Mattel, Royal Dutch/Shell, Sprint, ImClone and others.
For more information, contact:
David R. Scott
1-800-404-7770
1-800-332-2259
e-mail: drscott@scott-scott.com
–or–
Neil Rothstein
619-251-0887 (cell)
e-mail: nrothstein@scott-scott.com
SOURCE Scott+Scott, LLC
Web Site: http://www.scott-scott.com
Issuers of news releases and not PR Newswire are solely responsible for the accuracy of the content.
Terms and conditions, including restrictions on redistribution, apply.
Copyright © 1996-2006 PR Newswire Association LLC. All Rights Reserved.
A United Business Media company.
