SOURCE: Rosen Law Firm PA

December 13, 2008 11:29 ET

The Rosen Law Firm Announces a Shareholder Class Action Charging SpaceDev, Inc. With Issuing a Misleading Proxy Statement in Violation of Federal Securities Laws -- SPDV

NEW YORK, NY--(Marketwire - December 13, 2008) - The Rosen Law Firm today announced that a class action lawsuit has been filed on behalf of SpaceDev, Inc. ("SpaceDev" or "Company") (OTCBB: SPDV) shareholders in connection with Sierra Nevada Corporation's offer to purchase all of the outstanding stock of SpaceDev (the "Offer").

The complaint asserts violations of Section 14(a) of the Securities Exchange Act based on allegations that the proxy statement issued in connection with the Sierra Nevada's Offer to purchase SpaceDev stock is materially misleading and fails to disclose all of the information necessary for shareholders to make an informed decision to approve the Offer.

The case is pending in the U.S. District Court for the Southern District of California; case no. 3:08-cv-02199-L-CAB and is on behalf of all holders of SpaceDev stock as of October 20, 2008. You can obtain a copy of the complaint from the court or from the Rosen Law Firm.

If you wish to serve as lead plaintiff, you must move the Court no later than February 11, 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 nation, focusing its practice in securities class actions.

Contact Information

  • Contact:
    Contact:
    Laurence Rosen, Esq.
    Email Contact
    Phillip Kim, Esq.
    Email Contact
    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
    www.rosenlegal.com