SOURCE: Kahn Gauthier Swick, LLC

November 20, 2008 20:10 ET

INVESTOR ALERT: KGS Notifies TALEO Corporation Purchasers With Losses Greater Than $200,000 of Lead Plaintiff Application Deadline in Securities Class Action Lawsuit -- TLEO

NEW ORLEANS, LA--(Marketwire - November 20, 2008) - Kahn Gauthier Swick, LLC ("KGS") announces that a securities class action lawsuit was filed in the United States District Court for the Northern District of California, on behalf of purchasers of the securities and common stock of Taleo Corporation, ("Taleo") (NASDAQ: TLEO) during the period between October 4, 2005 and November 10, 2008, inclusive (the "Class Period"). No class has yet been certified in this action.

If you would like to discuss your legal rights, you may email or call KGS Managing Partner Lewis Kahn, without obligation or cost to you, toll free 1-866-467-1400, ext. 100, via cell phone after hours at 504-301-7900, or by email at lewis.kahn@kgscounsel.com.

Taleo and certain of its officers are charged with violating the Securities Exchange Act of 1934, for issuing a series of materially false statements that concealed and failed to disclose the true financial and operational condition of the Company and the efficacy of the Company's controls and procedures. Specifically, the complaint charges that defendants misled or failed to inform the investing public regarding the Company's historical and current accounting practices with respect to the timing for recognition of application and consulting revenues under generally accepted accounting principles in the United States ("GAAP") -- the effect of which was to improperly accelerate the recognition of revenues.

Investors only learned the truth about the Company on or about November 10, 2008, when Taleo reported results well below expectations and revealed that it had employed improper revenue recognition procedures. As a result of this belated disclosure, shares of Taleo common stock fell almost 30% -- over $3.00 per share -- in the single trading-day.

If you wish to serve as lead plaintiff in this class action lawsuit, you must move the Court no later than January 16, 2009. 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. If you would like to discuss your legal rights, you may email or call KGS Managing Partner Lewis Kahn, without obligation or cost to you, toll free 1-866-467-1400, ext. 100, after hours via cell phone 504-301-7900, or by email at lewis.kahn@kgscounsel.com. To learn more about KGS, you may visit www.kgscounsel.com. KGS is a law firm focused on securities class action litigation with offices in New Orleans and New York City.

KGS' lawyers have significant experience litigating complex securities class actions. Among other cases, KGS has been appointed Lead or Co-Lead Counsel in the following securities cases: In re U.S. Auto Parts Networks, Inc. Securities Litigation, C.D. Cal.; In re Optionable, Inc. Securities Litigation, S.D.N.Y.; In re Xethanol Corporation Securities Litigation, S.D.N.Y.; Pixelplus Co. Ltd., S.D.N.Y.; In re Witness Systems Inc. Securities Litigation, N.D. Ga.; Whitney Information Network, M.D. Fla.; Pegasus Wireless Corp., S.D. Fla.; In re Xinhua Finance Media, Ltd. Securities Litigation, S.D.N.Y.; Terayon Comm. Systems Inc., N.D. Cal.; and In re BigBand Networks, Inc. Securities Litigation, N.D. Cal.

SPECIAL NOTICE: KGS encourages you to carefully evaluate any firm you may consider to represent your interests in the Taleo class action. The Private Securities Litigation Reform Act ("PSLRA") permits Taleo shareholders to choose counsel of their choice to prosecute this action. Critical components of a law firm's ability to successfully prosecute this action and obtain a strong recovery for you include the resources it will dedicate to prosecution of the case, including the number of lawyers the firm has available for the Taleo action in particular, AND especially the quality of the firm's work. Interested shareholders are encouraged to call for consultation and to request more information about KGS. While KGS has not filed suit yet, the firm is currently conducting its own investigation of Taleo and invites shareholders to evaluate its complaint when choosing counsel.

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