Contact Information: CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 15th Floor New York, NY 10004 Tel: (212) 363-7500 Fax: (212) 363-7171 www.zlk.com
Levi & Korsinsky, LLP Announces Class Action Lawsuit Against Fleetwood Enterprises, Inc. - FLE
| Source: Levi & Korsinsky, LLP
NEW YORK, NY--(Marketwire - September 16, 2009) - Levi & Korsinsky announces that a class action
lawsuit has been filed in the United States District Court for the Central
District of California on behalf of purchasers of the common stock of
Fleetwood Enterprises, Inc. ("Fleetwood" or the "Company") (NYSE : FLE )
between December 6, 2007 and March 10, 2009, inclusive (the "Class
Period").
The complaint alleges that Fleetwood and certain of its officers and
directors violated the Securities Exchange Act of 1934 by failing to
disclose during the Class Period that demand for Fleetwood's manufactured
houses and the big homes-on-wheels was rapidly declining, which was
adversely affecting the Company's liquidity, and that the Company's
financial condition was declining precipitously such that the Company was
nearing insolvency and would have to file for bankruptcy protection. On
March 10, 2009, Fleetwood issued a press release announcing that it had
filed voluntary Chapter 11 petition in the U.S. Bankruptcy Court for the
Central District of California. As a result, Fleetwood common stock fell to
$0.0103 per share on March 10, 2009.
If you purchased Fleetwood common stock during the Class Period and wish to
serve as lead plaintiff, you must move the court by November 2, 2009. A
lead plaintiff is a representative party acting on behalf of other class
members in directing the litigation. You do not need to seek appointment as
a lead plaintiff in order to share in any recovery.
If you wish to obtain additional information, please contact us at the
number listed below or visit http://www.zlk.com/fle1.html.
Levi & Korsinsky has expertise in prosecuting investor securities
litigation and extensive experience in actions involving financial fraud
and represents investors throughout the nation, concentrating its practice
in securities and shareholder litigation.