SOURCE: Levi & Korsinsky, LLP

September 16, 2009 16:48 ET

Levi & Korsinsky, LLP Announces Class Action Lawsuit Against Immersion Corporation - IMMR

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 Northern District of California on behalf of purchasers of the common stock of Immersion Corporation ("Immersion" or the "Company")(NASDAQ: IMMR) between May 3, 2007 and June 30, 2009, inclusive (the "Class Period").

The complaint alleges that Immersion and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing misleading statements concerning the Company's transactions in its Medical line of business. Specifically, the complaint asserts that defendants failed to disclose that Immersion's revenue recognition policies in its Medical line of business were improper and violated GAAP and the Company's own internal accounting policies. On July 1, 2009, Immersion announced that it was conducting an internal investigation into previous revenue transactions in its Medical line of business. As a result, the Company's stock fell 23%.

If you purchased Immersion 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/immr1.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.

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