SOURCE: Yourman Alexander & Parekh LLP

February 07, 2007 18:24 ET

Yourman Alexander & Parekh LLP Announces Class Action Lawsuit Against Celestica, Inc.

LOS ANGELES, CA -- (MARKET WIRE) -- February 7, 2007 -- Yourman Alexander & Parekh LLP, a law firm with extensive experience in prosecuting claims for securities and consumer fraud, announces that lawsuits seeking class action status have been filed on behalf of shareholders who purchased or otherwise acquired the securities of Celestica, Inc. ("Celestica" or the "Company") (NYSE: CLS) during the period July 27, 2006 through December 12, 2006, inclusive (the "Class Period"). The lawsuits are pending in the United States District Court for the Southern District of New York.

Since a class has not yet been certified, you may not be represented by an attorney in this matter. If you purchased or acquired Celestica securities during the Class Period and either continue to hold those securities or sold them at a loss, the deadline to move for appointment as Lead Plaintiff is March 13, 2007. A Lead Plaintiff is the person or entity that the Court appoints to take a leadership role in prosecuting the case and to represent the interests of other similarly injured class members. The Court is required to consider the persons or entities with the largest financial losses, who express an interest in taking a leadership role in the litigation, for appointment as Lead Plaintiff. However, in order to serve as Lead Plaintiff, you must meet certain legal requirements and must formally apply to the Court to be considered for such an appointment. While your ability to share in any recovery is not affected by your decision of whether or not to seek appointment as a Lead Plaintiff, the Lead Plaintiff is responsible for making important decisions which could affect the overall recovery for class members, including decisions concerning settlement. Further, under 15 U.S.C. §78u-4(a)(4) and/or 15 U.S.C. §77z-1(a)(4), in the event that the case is successfully resolved, the Court may award a Lead Plaintiff compensation for time spent directly related to the representation of the class.

The lawsuits allege, in part, that the Company and certain of its officers and directors violated federal securities laws by issuing statements, concerning the Company's financial performance and future prospects, that were materially false and misleading when made. It is further alleged that when making these statements, the Company failed to disclose and/or misrepresented the fact that the Company was experiencing declining demand in its Mexican operations and in its Information Technology and Communications market segments, and therefore had no reasonable basis to project adjusted earnings per share ranging from $0.12 to $0.20. Shares of Celestica declined when this undisclosed information later became public.

If you: (i) wish to discuss these lawsuits, have information concerning these cases, or acquired shares through your Celestica retirement account or 401K; (ii) have questions concerning this Notice or your rights or interests with respect to this litigation; or (iii) have any other potential matters that you would care to discuss, please contact Vahn Alexander or Behram Parekh of Yourman Alexander & Parekh LLP, 3601 Aviation Blvd., Suite 3000, Manhattan Beach, California 90266 by telephone, toll-free at (800) 725-6020, or by email to There will be no obligation or cost to you concerning your inquiry. For more information about the firm or cases currently being investigated or prosecuted by the firm, please visit