SOURCE: Holzer Holzer & Fistel, LLC

July 11, 2008 10:54 ET

Holzer Holzer & Fistel, LLC Announces That It Has Filed a Shareholder Class Action Against MRV Communications, Inc. (NASDAQ: MRVC)

ATLANTA, GA--(Marketwire - July 11, 2008) - A shareholder class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of purchasers of MRV Communications, Inc. ("MRV" or the "Company") (NASDAQ: MRVC) common stock during the period between March 31, 2003 and June 5, 2008 (the "Class Period"). The complaint charges MRV and certain of its current and former officers with violations of the Securities Exchange Act of 1934.

If you are a purchaser of MRV common stock during the Class Period, you have the legal right to petition the Court to be appointed a "lead plaintiff." A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any such request must satisfy certain criteria and be made on or before September 8, 2008. Any member of the purported 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 are a MRV investor and would like to discuss a potential lead plaintiff appointment, or your rights and interests with respect to the lawsuit, you may contact Michael I. Fistel Jr., Esq., or Marshall P. Dees, Esq. via email at mfistel@holzerlaw.com, or mdees@holzerlaw.com, or via toll-free telephone at (888) 508-6832.

The complaint alleges that, during the Class Period, MRV made false and misleading statements concerning the Company's employee stock option grant practices and financial results. Defendants allegedly caused or allowed MRV to issue statements that failed to disclose or misstated the following: (i) that the Company had problems with its internal controls that prevented it from issuing accurate financial reports and projections; (ii) that because of improperly recorded stock-based compensation expenses the Company's financial results violated GAAP; and (iii) that the Company's public disclosures covering a seven-year period presented an inflated view of MRV's earnings and earnings per share, which would later have to be restated. Upon this news, the Company's share price plummeted approximately 24%.

Holzer Holzer & Fistel, LLC is an Atlanta, Georgia law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, www.holzerlaw.com and upon request from the firm.