SOURCE: Gilman and Pastor, LLP

January 13, 2011 10:49 ET

Gilman and Pastor, LLP Announces a Securities Fraud Class Action Lawsuit Has Been Filed Against Tekelec (TKLC) on Behalf of Stock Owners/Investors and Urges Investors to Inquire as to the Class Action Lawsuit Prior to the March 7, 2011 Lead Plaintiff Deadline

BOSTON, MA--(Marketwire - January 13, 2011) - Gilman and Pastor, LLP announces that a lawsuit seeking class action status has been filed in the United States District Court for the Eastern District of North Carolina on behalf of the purchasers of the common stock of Tekelec ("Tekelec" or the "Company") (NASDAQ: TKLC), a provider of network communications software, who purchased or acquired shares of Tekelec from February 11, 2010 through August 5, 2010, inclusive (the "Class Period").

The Complaint alleges that Tekelec violated federal securities laws by failing to disclose the following facts: (i) that it had been experiencing known difficulties in fulfilling orders in the emerging markets, particularly in India due to security and regulatory issues; and (ii) that its customers in the emerging markets were experiencing credit issues causing them to delay purchases. 

Tekelec materially misled the investing public, thereby inflating the price of Tekelec common stock, by publically issuing false and misleading statements about its business, prospects and operations and failing to disclose material facts. Due to this misleading information, Tekelec shares increased from $14.55 per share in February 2010 to $19.08 in April 2010, before falling to a low of $10.81 in August. 

If you purchased or otherwise acquired TKLC shares during the Class Period, between February 11, 2010 through August 5, 2010, and either lost money on the transaction or still hold the shares, you may contact Gilman and Pastor by no later than March 7, 2011 to discuss your rights, including as to the recovery of your losses, or to obtain additional information, at www.investment-losses.com, by email at kgilman@gilmanpastor.com or by calling toll-free (888)252-0048.

Gilman and Pastor, LLP is one of the country's premier national law firms that represents institutional and individual investors in class actions, complex securities and corporate governance litigation. The firm has been a champion of investor rights for over 30 years and has been recognized for its reputation for excellence by the courts. You may retain Gilman and Pastor without financial obligation or cost to you, or you may retain other counsel of your choice. 

Contact Information

  • CONTACTS:
    Kenneth G. Gilman, Esquire
    Gilman and Pastor, LLP
    16 Fourteenth Avenue
    Wareham, MA 02571
    kgilman@gilmanpastor.com
    (888)252-0048
    (508) 291-3258 FAX