SOURCE: Rosen Law Firm P.A.

February 20, 2008 20:00 ET

INVESTOR NOTICE: The Rosen Law Firm Files Securities Class Action Charging Opnext, Inc. With Violations of the Federal Securities Laws -- OPXT

NEW YORK, NY--(Marketwire - February 20, 2008) - The Rosen Law Firm today announced that it has filed a class action lawsuit on behalf of all purchasers of Opnext, Inc. ("Opnext" or the "Company") (NASDAQ: OPXT) stock from the date of the Company's Initial Public Offering (the "IPO") on February 14, 2007 through February 13, 2008 (the "Class Period").

To join the Opnext class action, go to the website at http://www.rosenlegal.com or call Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653 or email lrosen@rosenlegal.com or pkim@rosenlegal.com for information on the class action.

The case is pending in the United States District Court for the District of New Jersey. You can obtain a copy of the complaint from the clerk of court or you may contact counsel for plaintiffs Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653 or email lrosen@rosenlegal.com or pkim@rosenlegal.com.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER.

The complaint charges that Opnext and certain of its present and former officers, directors, and control persons violated Sections 11 and 15 of the Securities Act of 1933 by issuing a materially inaccurate Registration Statement and Prospectus (collectively the "Registration Statement") in connection with the Company's IPO.

According to the Complaint, on or about February 14, 2007 the Opnext commenced its IPO priced at $15.00 per share for over 16 million shares of stock. The Complaint asserts that Opnext's Registration Statement was materially false because: (i) the Company's reported net income for the quarter and six months ended December 31, 2007 was overstated; and (ii) the Company's reported net loss for the fiscal year ended March 31, 2006 was understated.

The Complaint further alleges that on February 13, 2008 the Company announced, among other things, the Company's previously issued financial statements could no longer be relied upon and that it had to restate them. As a result of these adverse disclosures, Opnext's stock price dropped, damaging investors.

A class action lawsuit has already been filed on behalf of Opnext shareholders. If you wish to serve as lead plaintiff, you must move the Court no later than April 21, 2008. If you wish to join the litigation or to discuss your rights or interests regarding this class action, please contact plaintiff's counsel, Laurence Rosen, Esq. or Phillip Kim, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at lrosen@rosenlegal.com or pkim@rosenlegal.com.

The Rosen Law Firm has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud. The Rosen Law Firm represents investors throughout the nation, concentrating its practice in securities class actions.

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