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Anadigics Inc (NASDAQ: ANAD) Investor Securities Class Action Lawsuit 11/11/2008

  • If you purchased shares of ANADIGICS Inc (NASDAQ: ANAD), you might have certain options and should contact the Shareholders Foundation, Inc.

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Lawsuit Overview

Case Dismissed
Company
Anadigics
Security
NASDAQ: ANAD

Case Name
Anadigics Shareholder Class Action Lawsuit 11/11/2008
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the District of New Jersey

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

October 17, 2012 - The U.S. Court of Appeals for the Third Circuit ordered the judgment of the district court is affirmed and the case is dismissed.
October 27, 2011 - The lead plaintiffs filed notice of appeal.

September 30, 2011 - The court granted defendants' motion to dismiss and dismissed the amended complaint with prejudice.

December 3, 2010 - Defendants filed another motion to dismiss.

October 4, 2010 - Lead plaintiffs filed an amended consolidated complaint.

August 3, 2010 - The court denied defendants' motion to dismiss without prejudice and lead plaintiffs were granted leave to amend.

December 23, 2009 - Defendants filed a motion to dismiss.

October 23, 2009 - The lead plaintiff(s) filed a consolidated complaint on behalf of investors who purchased ANADIGICS Inc (NASDAQ: ANAD) common shares between February 2, 2008 to August 7, 2008. The plaintiff alleges that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between February 2, 2008 to August 7, 2008

August 26, 2009 - Lead plaintiffs and lead counsel were appointed.

January 12, 2009 - Lead plaintiff motions were filed.

November 24, 2008 - All cases were consolidated.

November 21, 2008 - Another investor filed a complaint.

November 11, 2008 - An investor in shares of ANADIGICS Inc (NASDAQ: ANAD) filed a lawsuit in the U.S. District Court for the District of New Jersey against ANADIGICS Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between July 25, 2007 and February 12, 2008.

According to the complaint the plaintiff alleges that ANADIGICS Inc (NASDAQ:ANAD) and certain of its officers and directors violated the Securities Exchange Act of 1934. Specifically the stockholder accuses that the representations contained in ANADIGICS Inc press releases, SEC filings, conference calls and presentations between July 25, 2007 and February 12, 2008 were materially false and misleading. On October 23, 2007, ANADIGICS Inc held a conference call to discuss its third quarter earnings announcement and its operations and in response to the disappointing earnings news the price of ANADIGICS Inc (NASDAQ:ANAD) common stock declined from $19.34 per share to $15.60 per share on heavy trading volume, so the lawsuit. The plaintiff alleges that the defendants continued to conceal that ANADIGICS Inc’s manufacturing inefficiencies were continuing to erode its profitability. Then on February 12, 2008, it announced its financial results for the fourth quarter and year-end 2007 and a s a result of this news the price of ANADIGICS Inc (NASDAQ:ANAD) common stock dropped from $10.36 per share to $8.86 per share, on extremely heavy trading volume, so the shareholder lawsuit.