SOURCE: Izard Nobel LLP

November 12, 2008 18:18 ET

Izard Nobel LLP Announces Class Action Lawsuit Against Waters Corporation

HARTFORD, CT--(Marketwire - November 12, 2008) - 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 Massachusetts on behalf of those who purchased the common stock of Waters Corporation ("Waters" or the "Company") (NYSE: WAT) between January 24, 2007 and January 22, 2008, inclusive (the "Class Period").

The Complaint charges that Waters and certain of its officers and directors violated federal securities laws. Specifically, defendants failed to disclose the following: (i) Waters was experiencing a slowdown in sales in the Japanese market as a result of decreased government regulation, which reduced the need for the Company's products and services; (ii) the Company's earnings were being materially impacted by an increased tax rate; and (iii) as a result of the foregoing, Waters had no reasonable basis for its 2007 earnings guidance.

On January 22, 2008, Waters announced its financial results for the fourth quarter and year-end 2007. In a conference call, defendants revealed that an unexpected increase in the Company's annual tax rate had adversely affected the Company's performance. Moreover, Japanese sales were "weaker than anticipated due to [ ] a change in the testing protocols for drinking water analysis in Japan." On this news, shares of the Company's stock fell $14.65 per share to close at $58.58 per share.

If you are a member of the class, you may, no later than January 12, 2009, 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, class action cases in general, and your rights, please contact Izard Nobel LLP toll-free at (800) 797-5499, or by e-mail at, or visit our website:

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