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Emcore Corporation (NASDAQ: EMKR) Investor Securities Class Action Lawsuit 12/23/2008

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

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Case Dismissed
Company
Emcore Corp.
Security
NASDAQ: EMKR

Case Name
Emcore Corp. Shareholder Class Action Lawsuit 12/23/2008
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the District of New Mexico

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

September 28, 2012 - The court granted the defendants' motion to dismiss.
December 9, 2011 - The lead plaintiff filed a corrected amended consolidated complaint.

November 14, 2011 - The lead plaintiff filed an amended consolidated complaint on behalf of investors who purchased EMCORE Corporation (NASDAQ: EMKR) common shares between June 12, 2007 and June 30, 2008. The lead plaintiff alleges that the defendants violated the Securities Act of 1934 by issuing false and misleading statements between June 12, 2007 and June 30, 2008.

September 30, 2011 - Lead counsel was appointed.

July 14, 2010 - Lead plaintiff was appointed.

December 4, 2009 - Another lead plaintiff motion was filed.

September 25, 2009 - All cases were consolidated.

February 23, 2009 - More lead plaintiff motions were filed.

February 20, 2009 - Lead plaintiff motions was filed.

February 11, 2009 - Another investor filed a complaint on behalf of investors who purchased EMCORE Corporation (NASDAQ: EMKR) common shares between June 12, 2007 and June 30, 2008. The plaintiff alleges that the defendants violated the Securities Act of 1934 by issuing false and misleading statements between June 12, 2007 and June 30, 2008.

December 23, 2008 - An investor in shares of EMCORE Corporation (NASDAQ: EMKR) filed a lawsuit in the U.S. District Court for the District of New Mexico against EMCORE Corporation over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between June 12, 2007 and March 17, 2008.

According to the complaint the plaintiff charges EMCORE Corporation and certain of its officers and directors with violations of the Securities Exchange Act of 1934. The complaint alleges that between June 12, 2007 and March 17, 2008 defendants issued materially false and misleading statements regarding EMCORE Corporation's business and financial results.

Specifically, the complaint alleges that EMCORE Corporation's public statements regarding its order backlog were false and misleading because they overstated the value of the order backlog in EMCORE Corporation's terrestrial solar energy division and that those misstatements and omissions resulted in an artificially inflated price for EMCORE Corporation's (NASDAQ: EMKR) common stock between June 12, 2007, through March 17, 2008. Then on March 18, 2008, the price of EMCORE Corporation's (NASDAQ: EMKR) common stock dropped over 23% on news that EMCORE Corporation's largest customer, Green and Gold Energy (GGE), which accounted for $78 million of EMCORE Corporation's $86 million backlog in terrestrial solar technology, would not be able to afford those transactions.