Home Search Contact Us

 
WOLF POPPER CHARGES GEMSTAR

WOLF POPPER LLP FILES SECURITIES FRAUD

CLASS ACTION AGAINST SFBC INTERNATIONAL INC.

 

Wolf Popper LLP has filed a securities fraud lawsuit, on behalf of all persons who purchased the securities of SFBC International Inc. ("SFBC" or the "Company") (NasdaqNM:SFCC) on the open market during the period February17, 2004 through December 15, 2005 (the "Class Period").

The action is pending in the United States District Court, Southern District of Florida, against defendants SFBC, Lisa Krinsky (Chairman, COO), Arnold Hantman (CEO), and E. Cooper Shamblen (V.P. Clinical Operations), and is seeking remedies under the Securities Exchange Act of 1934.

If you bought the securities of SFBC between February 17, 2004 to December 15, 2005, inclusive, and sustained damages, you may, no later than March 6, 2006, request that the Court appoint you as lead plaintiff. Under certain circumstances, one or more class members may together serve as "lead plaintiff." You may retain Wolf Popper LLP, or other counsel of your choice, to serve as your counsel in this action.

The complaint alleges that during the Class Period, the defendants misrepresented SFBC’s business conditions, prospects and financial results to public investors by touting 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 trials. The Company’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 the truth of defendants business practices was revealed to the market beginning on November 2, 2005, through the end of the Class Period on December 15, 2005, SFBC’s stock price fell from $41.49 to $15.78, a staggering 61.9% drop.

 

 

 

 

 

__________________________________________________

Home | Stock Investigation Guide | Portfolio Monitoring
Consumer Fraud | Securities Litigation | Antitrust | Corporate Governance | Our Cases | News
Practice Areas | Attorneys | About Us | Contact Us | Report Fraud | Search | Disclaimer