SOURCE: Brower Piven, A Professional Corporation

January 04, 2010 14:14 ET

Brower Piven Encourages Investors Who Have Losses in Excess of $200,000 From Investment in NightHawk Radiology Holdings, Inc. to Inquire About the Lead Plaintiff Position in Securities Fraud Class Action Lawsuit Before the February 16, 2010 Lead Plaintiff Deadline

STEVENSON, MD--(Marketwire - January 4, 2010) - Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the District of Idaho on behalf of purchasers of the common stock of NightHawk Radiology Holdings, Inc. ("NightHawk" or the "Company") (NASDAQ: NHWK) during the period between April 10, 2007 and February 13, 2008, 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 February 16, 2010 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 410/415-6616) 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 experiencing a delay in transitioning The Radlinx Group ("Radlinx") physician contracts to NightHawk's compensation structure, which would cause the Company to pay more compensation to Radlinx physicians than previously expected, coupled with the facts that demand for the Company's services was weakening and that the Company was experiencing difficulties in obtaining reimbursement for its services, defendants lacked a reasonable basis for their positive statements about the Company and its prospects. According to the complaint, after the Company, on February 13, 2008, announced its financial results for the fourth quarter of 2007 and the period ended December 31, 2007, the value of NightHawk's stock declined significantly.

If you have suffered a net loss for all transactions in NightHawk Radiology Holdings, Inc. common stock during 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 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. 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
    Stevenson, Maryland
    410/415-6616
    Email Contact