Hanzman & Criden, P.A. Announces Class Action against SFBC International, Inc.
18 Janvier 2006 - 11:11PM
Business Wire
Notice is hereby given that a class action has been commenced in
the United States District Court for the Southern District of
Florida on behalf of all persons who purchased the publicly traded
securities of SFBC International, Inc. (NASDAQ:SFCC) ("SFBC" or the
"Company") between February 17, 2004 and December 15, 2005,
inclusive (the "Class Period"). A copy of the complaint is
available from the Court, or call (305) 357-9010. Hanzman &
Criden has substantial experience representing employees who
suffered losses from purchases of their employer's stock in their
401 k plan. If you bought SFBC's stock through your SFBC retirement
account and have information or would like to learn more about
these claims, please contact us. The complaint alleges that
defendants violated federal securities laws by issuing a series of
materially false statements concerning SFBC's business condition.
Specifically, defendants touted the Company's strong revenue,
earnings, and its ability to outperform competitors and obtain
large contracts from drug companies, because of the large numbers
of participants its facilities could handle, and its ability to
quickly recruit participants for drug trails. SFBC's financial
success, however, was the result of business practices that were
improper and reckless, and if discovered, would cause the Company
to lose its credibility for accurate drug testing, and thus lose
customers, expose the Company to fines and possible lawsuits from
victims of faulty drugs, and face heavy regulation such that its
ability to outperform competitors and quickly recruit large groups
of participants could no longer be sustained. When news of SFBC's
improper business practices was revealed to the market beginning on
November 2, 2005, through the end of the Class Period on December
15, 2005, the Company's stock price fell more than 60% from $41.49
to $15.78. If you are a member of the class, you may, no later than
March 6, 2006, request that the Court appoint you as lead
plaintiff. A lead plaintiff is a representative party that acts on
behalf of other class members in directing the litigation. In order
to be appointed lead plaintiff, the Court must determine that the
class member's claim is typical of the claims of other class
members, and that the class member will adequately represent the
class. Under certain circumstances, one or more class members may
together serve as "lead plaintiff." Your ability to share in any
recovery is not, however, affected by the decision whether or not
to serve as a lead plaintiff. You may retain Hanzman & Criden,
or other counsel of your choice, to serve as your counsel in this
action. Hanzman & Criden has litigated many class actions for
violations of securities laws in federal courts over the past 20
years and has obtained court approval of substantial settlements on
numerous occasions. Hanzman & Criden maintains its offices in
Miami, Florida. 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 Kevin Love at Hanzman
& Criden by e-mail at klove@hanzmancriden.com or by calling
(305) 357-9000.
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