SOURCE: Kahn Gauthier Swick, LLC

April 07, 2006 14:56 ET

Shareholders Sue TNS for Stock Fraud -- (NYSE: TNS), by KGS

NEW ORLEANS, LA -- (MARKET WIRE) -- April 7, 2006 -- Kahn Gauthier Swick, LLC ("KGS") announces that a securities class action lawsuit has been commenced in the United States District Court for the Eastern District of Virginia, on behalf of shareholders who purchased, exchanged or otherwise acquired the common stock of TNS (NYSE: TNS) on or about September 16, 2005 pursuant to the Company's Secondary Offering. No class has yet been certified in this action.

Until a class is certified, you are not represented by counsel unless you retain an attorney.

The complaint charges TNS and certain of its officers and directors with violations of the Securities Act of 1933. The complaint alleges that, in connection with a Secondary Offering, TNS filed a Registration Statement in which defendants negligently failed to disclose several "material changes" to TNS' continuing operations which were required to be disclosed. As the result of TNS' subsequent report on October 20, 2005 that it had missed its top-line revenue guidance, shares of TNS common stock declined 25%. Moreover, on February 22, 2006, TNS reported declining financial results for the fourth quarter of 2005. TNS common stock declined 19% in response to this announcement.

If you acquired shares of TNS on or about September 16, 2005 and want to discuss your legal rights, you may e-mail or call KGS, without obligation or cost to you. You may contact Lewis Kahn of KGS toll free 1-866-467-1400, ext. 100, vial cell phone at 504-301-7900, or by email at lewis.kahn@kglg.com.

Contact Information

  • Contact:
    Lewis Kahn
    KGS
    Toll free: 1-866-467-1400, ext. 100
    Cell phone: 504-301-7900
    Email: lewis.kahn@kglg.com