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Inverness Medical Innovations Inc (AMEX: IMA) Investor Securities Class Action Lawsuit 04/10/2008

  • If you purchased shares of Inverness Medical Innovations Inc (AMEX: IMA), you might have certain options and should contact the Shareholders Foundation, Inc.

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Lawsuit Overview

Case Dismissed
Company
Inverness Medical Innovations
Security
AMEX: IMA

Case Name
Inverness Medical Innovations Shareholder Class Action Lawsuit 04/10/2008
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the District of Massachusetts

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

September 24, 2009 - The U.S. Court of Appeals for the First Circuit ordered the judgement that appeal be voluntarily dismissed with each party to bear its own costs.
August 27, 2009 - The lead plaintiff filed a notice of appeal.

July 29, 2009 - The court granted the defendants' motion to dismiss.

February 12, 2009 - Defendants filed a motion to dismiss.

December 4, 2008 - The lead plaintiff filed an amended complaint.

October 2, 2008 - Lead plaintiff and lead counsel were appointed.

June 9, 2008 - Lead plaintiff motions were filed.

April 10, 2008 - An investor in shares of Inverness Medical Innovations Inc (AMEX: IMA now trading on the NYSE as ALR-PB) filed a lawsuit in the U.S. District Court for the District of Massachusetts against Inverness Medical Innovations Inc over alleged violations of Federal Securities Laws.

According to the complaint the plaintiff charges Inverness Medical Innovations Inc and certain of its officers and directors with violations of the Securities Act of 1933. The complaint alleges that between November 14, 2007 and March 18, 2008 defendant issued materially false and misleading statements regarding Inverness Medical Innovations Inc's business and financial results.

Specifically the complaint alleges that on or about November 14, 2007, the Prospectus supplement to the Registration Statement with respect to the Secondary Offering, which forms part of the Registration Statement, became effective and more than 12 million shares of Inverness Medical Innovations Inc (AMEX: IMA) common stock were sold to the public at $61.49 per share, thereby raising more than $737 million. The complaint alleges that the Registration Statement negligently failed to disclose the significant and severe integration issues that Inverness Medical Innovations Inc was then experiencing and which were then impacting Inverness Medical Innovations Inc's continuing operations.

Inverness Medical Innovations Inc engages in the development, manufacturing, and marketing of consumer and professional medical diagnostic products, as well as a range of vitamins and nutritional supplements worldwide.