SOURCE: Dyer & Berens LLP

Dyer & Berens LLP

December 17, 2010 12:01 ET

Dyer & Berens LLP Announces Class Action on Behalf of SMART Technologies Inc. Investors; Reminds Investors of Important Deadline (SMT)

DENVER, CO--(Marketwire - December 17, 2010) - The law firm of Dyer & Berens LLP (www.DyerBerens.com) announced today that a class action securities lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of purchasers of SMART Technologies Inc. (NASDAQ: SMT) common stock pursuant to the company's July 2010 initial public offering. 

If you wish to serve as a lead plaintiff, you must seek such an appointment with the court no later than February 1, 2011. A "lead plaintiff" directs the litigation and participates in important decisions including whether to accept a settlement offer and how much of a settlement to accept for the class in the action. The lead plaintiff here will be selected from among applicants claiming the largest loss from investment in the company during the relevant time period. 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 wish to discuss the action, the lead plaintiff process, or have any questions concerning your rights or interests in the litigation, please contact Jeffrey A. Berens, Esq. at (888) 300-3362 x302, (303) 861-1764, or via email at jeff@dyerberens.com

The class action complaint contains allegations that SMART Technologies, certain company insiders and the IPO underwriters violated the Securities Act of 1933 by failing to disclose in the IPO registration statement and prospectus that company sales had been adversely impacted by integration and internal control issues, and failed to reveal a slowdown during the second quarter of fiscal year 2011. Company insiders sold over $500 million worth of stock in the IPO.

Dyer & Berens LLP has significant expertise in prosecuting investor class actions. The firm's extensive experience in securities litigation, particularly in cases brought under the Private Securities Litigation Reform Act, has contributed to the recovery of hundreds of millions of dollars for aggrieved investors. For more information about the firm, please go to www.DyerBerens.com.

Contact Information

  • Contact:

    Jeffrey A. Berens
    Dyer & Berens LLP
    303 East 17th Avenue, Suite 300
    Denver, CO 80203
    Tel: (888) 300-3362 x302 or (303) 861-1764
    Email: Email Contact
    Website: www.DyerBerens.com