SOURCE: Izard Nobel LLP

May 24, 2011 16:48 ET

Izard Nobel LLP Announces Class Action Lawsuit Against Logitech International SA

WEST HARTFORD, CT--(Marketwire - May 24, 2011) - The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Southern District of New York on behalf of purchasers of the common stock of Logitech International SA ("Logitech" or the "Company") (NASDAQ: LOGI) between October 28, 2010 and April 1, 2011, inclusive (the "Class Period").

The Complaint charges Logitech and certain of its officers and directors violated federal securities laws. Specifically, the Complaint alleges that defendants failed to disclose the following: (i) that Logitech's distributors were overstocked with inventory of certain product lines; (ii) that the Company's pricing and promotional activity was not operating according to plan; (iii) that demand for Logitech's products in the Europe, Middle East and Africa markets was significantly declining far below internal expectations; and (iv) as a result of the foregoing, defendants' positive statements about Logitech were materially false and misleading when made.

On March 31, 2011, Logitech announced that it had lowered its full-year outlook for Fiscal Year 2011 and now expects sales in the range of $2.35-$2.37 billion, down from the previous range of $2.4-$2.42 billion, and operating income in the range of $140-$150 million, down from the previous range of $170-$180 million. On this news, Logitech stock fell from $18.13 to $14.71 per share on April 1, 2011.

If you are a member of the class, you may, no later than July 22, 2011, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.

While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, and your rights, visit:, or contact Izard Nobel LLP toll-free: (800)797-5499, or by e-mail: For more information about class action cases in general, please visit our website:

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