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International Game Technology (NYSE: IGT) Investor Securities Class Action Lawsuit 07/30/2009

  • If you purchased shares of International Game Technology (NYSE: IGT), 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

Company
International Game Technology
Security
NYSE: IGT

Case Name
International Game Technology Shareholder Class Action Lawsuit 07/30/2009
Type of Lawsuit
Shareholder Class Action
Class Period Begin
Class Period End
Deadline To File for Lead
Settlement Notice
international_game_technology_settlement_notice_3_2012.pdf
Settlement Proof
international_game_technology_settlement_proof_3_2012.pdf
Filed Complaint
international_game_technology_original_filing_edited_7_2009.pdf
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Settlement Overview

Date Settled
Date Settled
Settlement Amount
$12,500,000.00
Deadline to Participate in Settlement

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Summary

April 5, 2013 - The U.S. Court of Appeals for the Ninth Circuit dismissed the notice of appeal for want of prosecution.
November 16, 2012 - A plaintiff filed a notice of appeal.

October 22, 2012 - The court entered a final judgment order dismissing the action with prejudice.

October 19, 2012 - The court entered the orders approving the plan of allocation and the motion for attorneys’ fees and expenses.

March 30, 2012 - The court preliminarily approved the settlement.

March 29, 2012 - Parties filed a stipulation of settlement.

March 15, 2011 - The court denied the defendants motion to dismiss.

June 17, 2010 - The defendants filed a motion to dismiss.

April 26, 2010 - The lead plaintiff filed an amended complaint.

March 10, 2010 - The lead plaintiff and lead counsel were appointed.

September 28, 2009 - A lead plaintiff motion was filed.

July 30, 2009 - An investor in shares of International Game Technology (NYSE: IGT) filed lawsuit in the U.S. District Court for the District against International Game Technology over alleged violations of Federal Securities Laws.

According to the complaint the plaintiff alleges that International Game Technology and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing between November 1, 2007 and October 30, 2008 materially false and misleading statements regarding International Game Technology's business prospects. As alleged in the complaint, the inflation in the price of International Game Technology stock (NYSE: IGT) came out in response to a series of disclosures by International Game Technology.

International Game Technology, located in Reno, NV, is a global gaming company specializing in the design, manufacture, and marketing of electronic gaming equipment and network systems, as well as licensing and services. International Game Technology maintains an array of entertainment-inspired gaming product lines. In addition to its United States production facilities in Nevada, it manufactures gaming products in the United Kingdom and through a third-party manufacturer in Japan.

International Game Technology reported in 2007 Total Revenue of $2.6214billion with a Net Income of $508.20million and in 2008 $2.5286billion with a Net Income of $341.50million. Shares of IGT traded recently at $19.72 per share, down from a 52weekHigh of $24.55 per share and $48.28 per share in 2008.

international_game_technology_original_filing_edited_7_2009.pdf
Date Settled