SOURCE: Shalov Stone Bonner & Rocco LLP

Shalov Stone Bonner & Rocco LLP

September 03, 2009 13:16 ET

Shalov Stone Bonner & Rocco LLP Announces Class Action Against Immersion Corporation

NEW YORK, NY--(Marketwire - September 3, 2009) - Shalov Stone Bonner & Rocco LLP announces that a class action lawsuit has been filed on behalf of all persons who purchased or otherwise acquired the publicly traded securities of Immersion Corporation ("Immersion" or the "Company") (NASDAQ: IMMR) between May 3, 2007 and June 30, 2009, inclusive (the "Class Period"). The lawsuit is pending in the United States District Court for the Northern District of California against Immersion and certain of its officers and/or directors.

The complaint alleges that, throughout the Class Period, defendants issued materially false and misleading statements concerning Immersion's transactions in its Medical line of business. In particular, defendants did not disclose that the Company's revenue recognition practices in its Medical line of business were improper. The complaint further alleges that during the Class Period, defendants knew but concealed from the investing public: (1) that Immersion's revenue recognition practices with respect to its Medical line of business failed to comply with GAAP; and (2) that because of Immersion's false accounting, its reported revenue and earnings were overstated. As a result of defendants' false and misleading statements, Immersion's securities traded at artificially inflated prices during the Class Period.

On July 1, 2009, prior to the market opening, Immersion issued a press release announcing that it would be undertaking an internal investigation into certain previous revenue transactions in its Medical line of business. As a result of this announcement, the Company's stock fell over 23%.

Shalov Stone Bonner & Rocco LLP has extensive experience in the prosecution of lawsuits on behalf of investors. For more information about the firm, please visit its website at: www.lawssb.com

If you purchased Immersion stock and would like additional information about your rights, please contact investor rights attorney Amanda C. Scuder, at Shalov Stone Bonner & Rocco LLP, 485 Seventh Avenue, Suite 1000, New York, New York 10018 (telephone: (212) 239-4340; email: ascuder@lawssb.com).

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