SOURCE: Kendall Law Group LLP

Kendall Law Group LLP

August 06, 2009 19:43 ET

Five Class Action Lawsuits Filed Against Huron Consulting on Behalf of All Investors, Announces Kendall Law Group LLP

DALLAS, TX--(Marketwire - August 6, 2009) - A total of five stockholder class actions have been filed on behalf of all shareholders of Huron Consulting Group, Inc. (NASDAQ: HURN) who purchased or acquired Huron stock from April 27, 2006 to July 31, 2009. These are not individual lawsuits by shareholders against the company. Instead, they are lawsuits on behalf of all shareholders of Huron. Shareholders filed these lawsuits to recoup the 70% drop in stock suffered on Monday. It is expected that many more lawsuits will be filed by shareholders against the company.

No lead plaintiff has been chosen in this action. If you wish to serve as lead plaintiff, you must move the court by October 5, 2009. Lead plaintiffs make important decisions about the litigation for absent class members.

The five complaints, filed in the Northern District of Illinois, allege that defendants issued materially false and misleading statements regarding the Company's financial results and compliance with Generally Accepted Accounting Principles. Specifically, the Company misaccounted for payments made as part of acquisitions. As a result of defendants' false and misleading statements, Huron stock traded at artificially inflated prices during the Class Period, reaching a high of $83.25 per share on December 26, 2007.

Then on July 31, 2009, Huron announced that it would be restating its financial results from 2006 through 2008 and the first three months of 2009 due to its failure to properly account for earn-out payments made in connection with four of its acquisitions. On this news, Huron's stock collapsed $30.66 per share to close at $13.69 per share on August 3, 2009, a 1-day decline of almost 70%.

The shareholders who have filed suit have done so on behalf of all shareholders in order to recover damages caused by the company's restatement. However, you are not represented by counsel until you contact a lawyer. If you have any questions about these lawsuits or becoming a plaintiff, please contact attorney Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com. Kendall Law Group is led by a former federal judge and former U.S. Attorney. It has extensive experience in securities class actions nationwide.

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