SOURCE: Stull, Stull & Brody

November 20, 2008 19:06 ET

Stull, Stull & Brody Announces Class Action on Behalf of Shareholders of Waters Corporation

NEW YORK, NY--(Marketwire - November 20, 2008) - Attorney Advertising. Notice is hereby given that a class action has been commenced in the United States District Court for the District of Massachusetts on behalf of purchasers of Waters Corporation ("Waters Corp." or the "Company") (NYSE: WAT) common stock during the period between January 24, 2007 and January 22, 2008 (the "Class Period").

Stull, Stull & Brody has substantial experience representing employees who suffered losses from purchases of their employer's stock in their 401(k) plans. If you bought Waters Corp.'s stock through your Waters Corp.'s retirement account and have information or would like to learn more about these claims, please contact us.

The complaint charges Waters Corp. and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Waters Corp. provides high-performance liquid chromatography products and services. The Company distributes its products worldwide to a wide range of industries, such as pharmaceuticals, chemicals, and environmental testing.

The complaint alleges that the representations contained in Water Corp.'s press releases, SEC filings, conference calls, and presentations during the Class Period were materially false and misleading when made because they failed to disclose: (i) that the Company was experiencing a slowdown in sales in the Japanese market as a result of decreased government regulation, which reduced the need for the Company's products and services; (ii) that the Company's earnings were being materially impacted by an increased tax rate; and (iii) as a result of the foregoing, the Company had no reasonable basis for its 2007 earnings guidance.

According to the complaint, on January 22, 2008, Waters Corp. announced its financial results for the fourth quarter and year-end 2007, the period ended December 31, 2007. Following this press release, the defendants held a conference call with analysts and investors and revealed that "an unexpected increase in [its] annual tax rate, among other factors, adversely affected [its] bottom-line performance." Moreover, the Company stated that its Japanese sales were "weaker than anticipated due to [] a change in the testing protocols for drinking water analysis in Japan" which the Company knew about since "last year." Upon this news, shares of the Company's stock fell $14.65 per share, or approximately 20%, to close at $58.58 per share, on heavy trading volume.

Plaintiff seeks to recover damages on behalf of all those who purchased or otherwise acquired Waters Corp.'s common stock during the Class Period, which is between January 24, 2007 and January 22, 2008. If you purchased or otherwise acquired Waters Corp.'s common stock during the Class Period, and either lost money on the transaction or still hold the securities, you may wish to join in the action to serve as lead plaintiff. If you purchased Waters Corp.'s common stock during the Class Period, you may request that the Court appoint you as lead plaintiff no later than January 12, 2009.

A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Stull, Stull & Brody, or other counsel of your choice, to serve as your counsel in this action. Stull, Stull & Brody has litigated many class actions for violations of securities laws in federal courts over the past 40 years and has obtained court approval of substantial settlements on numerous occasions. Stull, Stull & Brody maintains offices in New York and Los Angeles.

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Tzivia Brody, Esq. at Stull, Stull & Brody by e-mail at SSBNY@aol.com, by calling toll-free 1-800-337-4983, or by fax at 212/490-2022, or by writing to Stull, Stull & Brody, 6 East 45th Street, New York, NY 10017. You can also visit our website at www.ssbny.com.

Attorney Advertising. Prior Results Do Not Guarantee A Similar Outcome.

Contact Information

  • Contact:
    Tzivia Brody, Esq.
    Stull, Stull & Brody
    SSBNY@aol.com
    1-800-337-4983
    fax: 212/490-2022
    6 East 45th Street
    New York, NY 10017
    www.ssbny.com