SOURCE: Brower Piven, A Professional Corporation

October 28, 2009 15:48 ET

Brower Piven Encourages Investors Who Have Losses in Excess of $150,000 From Investment in R.H. Donnelley Corporation to Inquire About the Lead Plaintiff Position in Securities Fraud Class Action Lawsuit Before the December 22, 2009 Lead Plaintiff Deadline

BALTIMORE, MD--(Marketwire - October 28, 2009) - Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the District of Delaware on behalf of purchasers of the publicly traded securities of RH. Donnelley Corporation ("RH Donnelley" or the "Company") (PINKSHEETS: RHDCQ) during the period between, July 26, 2007 and May 28, 2009, inclusive (the "Class Period").

No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than December 22, 2009 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You are not required to have sold your shares to seek damages or to serve as a Lead Plaintiff. You may contact Brower Piven (through hoffman@browerpiven.com or 410/986-0036) to answer any questions you may have in that regard.

The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the Company's failure to disclose during the Class Period that the Company was not adequately reserving for its bad debts in violation of GAAP, causing its financial results to be materially misstated; that the Company was experiencing lower advertising revenue not only due to cyclical challenges, as represented, but was also due to a permanent shift in customers moving away from print yellow pages advertising; and the true extent of the Company's exposure to liquidity concerns and ratings downgrades such that the Company had no reasonable basis to make projections about its 2008 results. According to the complaint, as the truth began to evolve until the Company filed for bankruptcy on May 29, 2009, the value of RH Donnelley's stock declined significantly.

If you have suffered a net loss for all transactions in RH Donnelley publicly traded securities during the Class Period (including shares or possibly calls purchased during, but not sold until after the end of the Class Period or possibly put options sold but not covered until after the end of the Class Period), you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at hoffman@browerpiven.com, by calling 410-986-0036, or at Brower Piven, A Professional Corporation, The World Trade Center-Baltimore, 401 East Pratt Street, Suite 2525, Baltimore, Maryland 21202. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 40 years. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.

Contact Information

  • CONTACT:
    Charles J. Piven
    Brower Piven, A Professional Corporation
    Baltimore, Maryland
    410/986-0036
    Email Contact