SOURCE: Shalov Stone Bonner & Rocco LLP

Shalov Stone Bonner & Rocco LLP

August 06, 2009 12:30 ET

Shalov Stone Bonner & Rocco LLP Announces Class Action Filed Against International Game Technology

NEW YORK, NY--(Marketwire - August 6, 2009) - Shalov Stone Bonner & Rocco LLP announces that a class action lawsuit has been filed on behalf of purchasers of International Game Technology ("IGT" or the "Company") (NYSE: IGT) common stock during the period from November 1, 2007 to October 30, 2008, inclusive (the "Class Period"). The lawsuit is pending in the United States District Court for the District of Nevada against IGT and certain of its officers and directors.

IGT is a global gaming company that specializes in, among other things, designing, manufacturing and marketing electronic gaming equipment and network systems. The complaint alleges that, throughout the Class Period, defendants made false and misleading statements and failed to disclose material adverse facts. According to the complaint, the defendants misrepresented or failed to disclose the following: that defendants diverted substantial funds to the development of IGT's SB and AVP gaming platforms, thereby compromising IGT's growth prospects and undermining defendants' optimistic statements; that IGT was unable to develop and market its SB and AVP gaming platforms within the time frame that defendants had represented to investors because of increasingly challenging market conditions and mounting costs; that the positive representations made by defendants regarding IGT's shift to non-machine based operations were undermined by a slowdown in the gaming industry, the impact of which was minimized by defendants; and, that defendants concealed that as a result of the above, it was unlikely that the Company would achieve or exceed its earnings guidance. By deceiving the public about IGT's business, operations, and management, the Company's stock traded at artificially inflated prices.

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

If you would like additional information about the lawsuit or would like to participate in it, 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:

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