SOURCE: Brower Piven, A Professional Corporation

January 20, 2012 16:04 ET

Brower Piven Encourages Investors Who Sold in Excess of 1000 Shares of Sigma Designs, Inc. Between July 13, 2007 and November 28, 2007, Inclusive, to Inquire About the Lead Plaintiff Position in Securities Fraud Class Action Lawsuit Before the March 5, 2012 Lead Plaintiff Deadline

STEVENSON, MD--(Marketwire - Jan 20, 2012) - Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who sold shares of Sigma Designs, Inc. ("Sigma" or the "Company") (NASDAQ: SIGM) during the period between July 13, 2007 and November 28, 2007, inclusive (the "Class Period").

If you would like additional information about this lawsuit and your ability to become a lead plaintiff, you may contact 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 60 years.

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 March 5, 2012, 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.

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 material positive non-public information, including that sales and revenues were significantly greater than expected such that the defendants purchased Sigma stock knowing such non-public information and improperly profiting therefrom while the plaintiff and other members of the proposed class sold their shares at artificially deflated prices. According to the complaint, after the material positive non-public information about higher than expected sales and revenues was disclosed during and at the end of the Class Period, the value of Sigma shares rose significantly.

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