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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.
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