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") (
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