SOURCE: Rosen Law Firm, P.A.

October 08, 2010 17:28 ET

Investor Notice: The Rosen Law Firm Files Securities Fraud Class Action Against FalconStor Software, Inc. -- FALC

NEW YORK, NY--(Marketwire - October 8, 2010) - The Rosen Law Firm today announced that it has filed a class action on behalf of purchasers of FalconStor Software, Inc. ("FalconStor" or the "Company") (NASDAQ: FALC) common stock during the period beginning February 5, 2009 through September 29, 2010 (the "Class Period") seeking remedies under the federal securities laws.

To join the class action against FalconStor, go to the website at http://www.rosenlegal.com or call Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653. You may also email lrosen@rosenlegal.com or pkim@rosenlegal.com for information on the class action. The class action is pending in the U.S. District Court for the Eastern District of New York.

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 CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.

The Complaint alleges that FalconStor and certain of its officers and directors are liable under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 in connection with the issuance of materially false and misleading statements about the Company's financial condition and prospects. The Complaint asserts that defendants failed to disclose that the FalconStor was making improper payments to secure a contract with at least one of its customers; the Company was experiencing weak demand for its products and services; and consequently defendants lacked a reasonable basis for their statements about the Company's prospects. The Complaint asserts that when the truth of these statements began to enter into the market on September 29, 2010 the price of FalconStor stock fell, damaging investors.

If you wish to serve as lead plaintiff, you must move the Court no later than November 30, 2010. A lead plaintiff is a representative party that acts on behalf of other class members in directing and overseeing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact 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. You may also visit the firm's website at http://www.rosenlegal.com.

The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.

Contact Information

  • Contact:
    Laurence Rosen, Esq.
    Email Contact
    Phillip Kim, Esq.
    Email Contact
    The Rosen Law Firm P.A.
    350 5th Avenue, Suite 5508
    New York, New York 10118
    Tel: (212) 686-1060
    Weekends/After-hours Tel: (917) 797-4425
    Toll Free: 1-866-767-3653
    Fax: (212) 202-3827
    www.rosenlegal.com