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 Immersion Corporation - IMMR
| 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 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.