SOURCE: Brower Piven, A Professional Corporation

December 11, 2009 16:04 ET

Brower Piven Encourages Investors Who Have Losses in Excess of $500,000 From Investment in Siemens AG to Inquire About the Lead Plaintiff Position in Securities Fraud Class Action Lawsuit Before the February 5, 2010 Lead Plaintiff Deadline

BALTIMORE, MD--(Marketwire - December 11, 2009) - Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Eastern District of New York on behalf of purchasers of the American Depository Receipt Shares ("ADRs" or shares) of Siemens AG ("Siemens" or the "Company") (NYSE: SI) during the period between November 8, 2007 and April 30, 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 5, 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 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 it continually engaged in extensive fraud, bribery and other illegal and corrupt activities in order to obtain contracts and retain business so it could attempt to generate revenues and achieve earnings expectations. According to the complaint, after the Company revealed the previously undisclosed information, the value of Siemens's stock declined significantly.

If you have suffered a net loss for all transactions in Siemens AG ADRs 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, by email at, 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

    Charles J. Piven
    Brower Piven, A Professional Corporation
    Baltimore, Maryland
    Email Contact