SOURCE: Izard Nobel LLP

December 18, 2009 14:58 ET

Izard Nobel LLP Announces Class Action Lawsuit Against NightHawk Radiology Holdings, Inc.

WEST HARTFORD, CT--(Marketwire - December 18, 2009) - 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 District of Idaho on behalf of those who purchased the common stock of NightHawk Radiology Holdings, Inc. ("NightHawk" or the "Company") (NASDAQ: NHWK) between April 10, 2007 and February 13, 2008, (the "Class Period").

The Complaint charges that NightHawk, and certain of its officers violated federal securities laws by making material misrepresentations concerning the Company's true financial condition and prospects. Specifically, the Complaint alleges that defendants failed to disclose the following: (i) that NightHawk was experiencing a delay in transitioning The Radlinx Group ("Radlinx") physician contracts to NightHawk's compensation structure, which would cause the Company to pay more compensation to Radlinx physicians than previously expected; (ii) that demand for the Company's services was weakening; (iii) that NightHawk was experiencing difficulties in obtaining reimbursement for its services; and (iv) as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about NightHawk and its prospects.

On February 13, 2008, NightHawk announced its financial results for the fourth quarter and year end of 2007, the period ended December 31, 2007. In response to the Company's announcement, the price of NightHawk stock fell $1.61 per share, or 11%, to close at $12.54 per share, on February 14, 2008.

If you are a member of the class, you may, no later than February 15, 2010, 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: www.izardnobel.com/nighthawk/, or contact Izard Nobel LLP toll-free: (800) 797-5499, or by e-mail: firm@izardnobel.com. For more information about class action cases in general, please visit our website: www.izardnobel.com.

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