- Legal Expert News
- Law Firm News
- Career News
- Headline News
- Blog News
- Local Court News
- Court Watch
- Legal Interview
- Topics in Legal News
- Press Release
- Politics & Legal
- Market News
- Court asked to dismiss cases tied to ex-drug lab chemist
- Kenya Supreme Court says why it annulled presidential poll
- California hits Gatorade in court for "anti-water" videogame
- Court: Utility, not gov't responsible for Fukushima disaster
- Ohio court sets 2022 execution date for Cleveland killer
- Otter appoints new justice to Idaho Supreme Court
- Dispute over rights to Tom Clancy's Jack Ryan goes to court
- S. Korean court says worker's rare disease linked to Samsung
- Court: Cherokee Freedmen have right to tribal citizenship
- Indiana high court hearing appeal in children's fire deaths
The Complaint charges that OmniVision and certain of its officers and directors violated federal securities laws by concealing the loss of its exclusive contract with Apple. On August 25, 2011 OmniVision disclosed delays in the production of its new 8-megapixel product line. As a result, OmniVision would not be the exclusive producer of camera components for Apple's new iPhone 4S, released on October 14, 2011. In response to this news, OmniVision stock declined $7.55 per share, over 30%, to close at $17.27 on August 26, 2011. On October 14, 2011, when the iPhone 4S was released, experts examined the phone's camera and determined that Sony, not Omnivision, had supplied a key component. On this confirmation of the reduced role of the Company's components in the iPhone 4S, OmniVision stock fell $1.65 per share, or 9.3%, to close at $15.95 per share.
If you are a member of the class, you may, no later than December 27, 2011, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.
While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, and your rights, visit: www.izardnobel.com/omnivision/, or contact Izard Nobel LLP toll-free: (800)797-5499, or by e-mail: email@example.com. For more information about class action cases in general, please visit our website: www.izardnobel.com.
Legal News Media
Legal News is the top headline legal news provider for lawyers and legalprofessionals. Read law articles and breaking news from law firm's across the United States to get the latest updates. We reserve the right, at our discretion, to change, modify, add, or remove portions of the site at any time. Your This site is solely for your personal use. You are, of course, welcome to print or otherwise copy material from this site for your personal use. However, you may not distribute, exchange, modify, sell or transmit anything you copy from this Site, including but not limited to any text, images, audio and video, for any business, commercial or public purpose. Any unauthorized use of the text, images, audio and video may violate copyright laws, trademark laws, the laws of privacy and publicity and civil and criminal statutes.