SOURCE: Kahn Swick & Foti, LLC

February 26, 2011 13:29 ET

56 Days Left -- Kahn Swick & Foti, LLC and Former Louisiana Attorney General Remind Investors With Large Financial Interests (Over $100,000) of Lead Plaintiff Deadline in Lawsuit Against Itron, Inc. - ITRI

NEW ORLEANS, LA--(Marketwire - February 26, 2011) - Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that only 56 days remain to file lead plaintiff applications in a securities fraud class action lawsuit against Itron, Inc. ("Itron" or the "Company") (NASDAQ: ITRI). The lawsuit was filed in the United States District Court for the Eastern District of Washington on behalf of the purchasers of the securities of Itron between April 28, 2010 through and including February 16, 2011, inclusive (the "Class Period"). The lawsuit alleges violations of the Securities Exchange Act of 1934.

What You May Do

If you are an Itron shareholder and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, e-mail or call KSF Managing Partner, Lewis Kahn (lewis.kahn@ksfcounsel.com), toll free, 877-515-1850, or via cell phone any time at 504-301-7900, or KSF Director of Client Relations, Neil Rothstein, Esq. (neil.rothstein@ksfcounsel.com), toll free at 877-694-9510, or via cell phone any time at 330-860-4092. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by April 25, 2011. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. KSF encourages both institutional and individual purchasers of Itron to contact the firm. The ultimate resolution of any securities class action is strengthened through the involvement of aggrieved shareholders and lead plaintiffs who have large financial interests. KSF also encourages anyone with information regarding Itron's conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.

About the Lawsuit

Shares of the Company fell nearly 10% this past week, only one day after Itron said that its profits would be lower for the year. While analysts had been expecting at least $4.41 per share in net income, Itron now expects to earn only between $3.95 and $4.40 for 2011. The complaint alleges that the Company failed to disclose that its financial statements were materially false and misleading despite Itron's knowledge of its true operating condition.

About Kahn Swick & Foti, LLC

KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities class action and shareholder derivative litigation with offices in New York and Louisiana. KSF's lawyers have significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders. Recent cases include In re Virgin Mobile USA IPO Litigation, 2:07-cv-05619-SDW-MCA (D. N.J.), Co-Lead Counsel, $19.5 Million Settlement; In re BigBand Networks, Inc Securities Litigation, 3:07-CV-05101-SBA (C.D. Cal.), Co-Lead Counsel, $11 million settlement; In re U.S. Auto Parts Networks, Inc. Securities Litigation, 2:07-cv-02030-GW-JC (C.D. Cal.),Lead Counsel, $10 million settlement. KSF is also federally court-appointed Co-Lead Counsel in THE shareholder derivative cases against BP plc, AIG and Bank of America (Merrill Lynch merger) emanating from their recent multi-billion dollar economic declines.

To learn more about KSF, you may visit www.ksfcounsel.com.

Contact Information

  • Contact:
    Kahn Swick & Foti, LLC
    Lewis Kahn
    Managing Partner
    877-515-1850
    or after hours via cell phone 504-301-7900
    lewis.kahn@ksfcounsel.com
    206 Covington St.
    Madisonville, LA 70447