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InSecurities: Securities Fraud Roundup 6.7.11

June 7th, 2011. By LucyC

Top Securities Fraud Stories

So here we go…another roundup of all the securities fraud lawsuits that’ve recently cropped up and have hit our Madoff meter. So without further ado, let’s get straight to them…

New Securities Lawsuits Filed 

What was that Eurythmics Song?—Here Comes That Sinking Feeling Again…ok, so maybe Annie was singing about rain and whatever it represents and not about quicksand. But you can bet your bottom dollar that the folks who invested in WMS Industries during the class period here were probably feeling a bit under the weather with this one: WMS Industries Inc. Securities Fraud…

Company:	WMS Industries Inc
Ticker:	WMS
Class Period:	Nov-1-10 to Apr-11-11
Date Filed:	May-25-11
Lead Plaintiff Deadline:	Jul-24-11
Court:	Northern District of Illinois
Madoff Meter:

The Allegations:

WMS Industries, which designs, manufactures and distributes both video and mechanical slot machines and video lottery terminals, got hit with a securities class action in the latter half of May alleging materially false and misleading statements. Yes, that old chestnut.

The allegations state that WMS has not been successful in living up to claims that it would continue to post sales revenue and margin gains “without the benefit or need for the recovery of overall demand or the casino gaming replacement cycle.”

For those of us not following the ups and downs of the electronic gaming industry—it’s in a down Read the rest of this entry »

Tags: Duke Energy, Insecurities, Logitech International, Madoff Meter, Oclaro Inc, Securities lawsuit, securities settlement, Tellabs, Urban Outfitters, WMS Industries
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