SOURCE: Dyer & Berens LLP

Dyer & Berens LLP

February 10, 2011 16:27 ET

Dyer & Berens LLP Announces That a Class Action Lawsuit Has Been Filed on Behalf of Certain Investors Who Purchased Tekelec Common Stock (TKLC)

DENVER, CO--(Marketwire - February 10, 2011) - Dyer & Berens LLP (www.DyerBerens.com) today announced that a class action lawsuit has been filed in the United States District Court for the Eastern District of North Carolina on behalf of investors who purchased Tekelec (NASDAQ: TKLC) common stock between February 11, 2010 and August 5, 2010, inclusive (the "Class Period").

What actions may I take at this time? If you purchased during the Class Period and wish to serve as a lead plaintiff, you must request appointment by court no later than March 7, 2011. If you would like to discuss this action, the lead plaintiff process, or have any questions concerning this notice, please contact Jeffrey A. Berens, Esq. at (888) 300-3362 x302 or via email at jeff@dyerberens.com. Any member of the putative class may request a lead plaintiff appointment through counsel of its choice or may choose to do nothing and remain an absent class member. 

What are the allegations in the complaint? The complaint alleges that, throughout the Class Period, defendants failed to disclose material adverse facts about the company's true financial condition, business and prospects. Specifically, the complaint alleges that defendants failed to disclose: (i) that the company was experiencing known but undisclosed difficulties in fulfilling orders in the emerging markets in general and in India in particular due to security and regulatory issues; (ii) that the company's customers in the emerging markets were experiencing known but undisclosed credit issues causing them to delay purchases; (iii) that the company was experiencing a sharp decline in new orders that was reasonably likely to have a material adverse effect on the company's backlog and operating results; and (iv) that, as a result of the foregoing, defendants' representations concerning their "visibility" into the company's earnings were materially false and misleading. Based upon the foregoing, the complaint charges Tekelec and certain of its officers with violations of the Securities Exchange Act of 1934. 

About Dyer & Berens LLP. Dyer & Berens LLP has expertise in prosecuting investor class actions involving financial fraud. 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. 

Contact Information

  • Contact:

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