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If you purchased shares of Huron Consulting Group Inc (NASDAQ: HURN), you might have certain options and should contact the Shareholders Foundation, Inc.
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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
Settlement Overview
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January 3, 2013 - The court ordered the authorization of the distribution of the net settlement fund.
May 6, 2011 - The court approved the settlement and dismissed the action with prejudice.
January 20, 2011 - The court preliminarily approved the settlement.
January 19, 2011 - Parties filed a stipulation of settlement.
August 6, 2010 - The court denied defendants' motion to dismiss.
March 30, 2010 - Defendants filed a motion to dismiss.
January 29, 2010 - The lead plaintiffs filed an amended consolidated complaint.
November 16, 2009 - Lead plaintiffs and lead counsel were appointed.
October 5, 2009 - Lead plaintiff motions were filed.
August 7, 2009 - Two more investors filed complaints.
August 5, 2009 - Two more investors filed complaints.
August 4, 2009 - An investor in shares of Huron Consulting Group Inc (NASDAQ: HURN) filed a lawsuit in the U.S. District Court for the Northern District of Illinois on behalf of those who purchased the common stock of Huron Consulting Group Inc between April 27, 2006 and July 31, 2009.
The complaint charges that Huron Consulting Group Inc and certain of its officers and directors violated federal securities laws by issuing materially false statements regarding Huron Consulting Group Inc's financial results. Specifically, the complaint alleges that Huron Consulting Group Inc misaccounted for payments made as part of acquisitions.
On July 31, 2009, Huron Consulting Group Inc announced that it would restate its financial results from 2006 through 2008 and the first three months of 2009 due to its failure to properly account for earn-out payments made in connection with four of its acquisitions. As a result, Huron Consulting Group Inc expected to dramatically reduce its revenue reported for the period by 48% from $120 million on an aggregate basis to $63 million. Huron Consulting Group Inc further announced that the SEC had commenced an inquiry into Huron Consulting Group Inc's allocation of chargeable hours related to its recognition of revenue. On this news, Huron Consulting Group Inc's stock fell $30.66 per share to close at $13.69 per share on August 3, 2009, a decline of approximately 69%.