SOURCE: Rosen Law Firm PA

August 05, 2009 16:47 ET

The Rosen Law Firm Announces Securities Class Action Against Huron Consulting Group, Inc. -- HURN

NEW YORK, NY--(Marketwire - August 5, 2009) - The Rosen Law Firm, P.A. announces that a class action lawsuit was commenced on behalf of purchasers of Huron Consulting Group, Inc. ("Huron" or the "Company") (NASDAQ: HURN) between April 27, 2006 and July 31, 2009 (the "Class Period").

To join the Huron class action, go to the website at http://www.rosenlegal.com or call Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653 or email lrosen@rosenlegal.com or pkim@rosenlegal.com for information on the class action. The case is pending in the United States District Court for the Northern District of Illinois.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER. YOU MAY ALSO RETAIN COUNSEL OF YOUR CHOICE.

The complaint charges Huron and certain of its former officers with violations of Section 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. In particular, the complaint alleges that defendants made false or misleading statements because: (a) shareholders of four businesses that Huron acquired during 2005-2007 redistributed portions of their acquisition-related payments among themselves and to certain Huron employees and consequently Huron understated its non-cash compensation expenses; (b) the Huron's financial statements filed with the SEC did not comply with Generally Accepted Accounting Principles; and (c) Huron lacked adequate internal and financial controls.

When this adverse information was disclosed to the market, the complaint asserts that the Huron announced that the company's financial statements for fiscal 2006 through the first quarter of 2009 should no longer be relied upon and will have to be restated. In response to this news, shares of Huron declined $30.66 per share, or 69.13%, to close at $13.69 per share, on heavy trading volume.

A class action lawsuit has already been filed on behalf of Huron shareholders. If you wish to serve as lead plaintiff, you must move the Court no later than October 5, 2009. If you wish to join the litigation or to discuss your rights or interests regarding this class action, please contact plaintiff's counsel, Laurence Rosen, Esq. or Phillip Kim, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at lrosen@rosenlegal.com or pkim@rosenlegal.com.

The Rosen Law Firm represents investors throughout the world, focusing its practice in securities class actions and shareholder derivative litigation. Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information

  • Contact Information:

    Laurence Rosen, Esq.
    Phillip Kim, Esq.
    The Rosen Law Firm P.A.
    350 5th Avenue, Suite 5508
    New York, New York 10118
    Tel: (212) 686-1060
    Weekends Tel: (917) 797-4425
    Toll Free: 1-866--767-3653
    Fax: (212) 202-3827
    Email Contact
    Email Contact

    www.rosenlegal.com