TAKE A LOOK AT WHICH REPORT YOUR PORTFOLIO'S BEEN MISSING...

Shareholders Foundation offers real-time reporting of class action exposure on a per transaction basis,
including the documents you will need for claim filing and settlement recovery.
Start Monitoring Your Investments

Lydall, Inc. Under Investor Investigation Over Possible Violations Of Securities Laws

  • If you purchased shares of Lydall, Inc. (NYSE: LDL), and / or if you have any information relating the investigation including those who are former employees or/and whistleblowers, you may have certain options and you should contact the Shareholders Foundation, Inc.

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

Investigation Overview

Company
Lydall, Inc.
Security
NYSE: LDL

Summary

San Diego, Nov. 18, 2011 (Shareholders Foundation) -- An investigation on behalf of investors in shares of Lydall, Inc. (NYSE: LDL) over possible Violations of Federal Securities Laws was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Lydall, Inc. (NYSE:LDL) concerning whether the company, certain of its officers and directors, or others have possibly violated federal securities laws. Specifically, the investigation concerns whether certain statements regarding Lydalls business, its prospects and its operations were potentially materially false and misleading at the time they were made.

Lydall, Inc. reported that its annual Revenue rose from $248.95million in 2009 to $338.01million in 2010 and its Net Loss of $14.57million for 2009 turned into a Net Income of $2.74million in 2010.

Shares of Lydall, Inc. (Public, NYSE:LDL) rose from as low as $2.04 per share in March 2009 to as high as $12.40 per share on July 7, 2011.

Then on November 8, 2011, Lydall Inc. announced its third quarter 2011 financial results. Lydall, Inc disclosed among other things that it had discovered and corrected certain prior period errors related to the accounting for U.S. income taxes associated with dividends from a foreign subsidiary. Lydall, Inc said it evaluated these errors and determined that they were immaterial to each of the reporting periods affected. However, Lydall also said, that if the adjustments to correct the cumulative errors had been recorded in the quarter ended September 30, 2011, Lydall believes the impact would have been material to 2011 reuslts. As a result, so Lydall, it revised in the current filing previously reported quarterly results for the first and second quarters of 2011, the third and fourth quarters of 2010, as well as Lydalls annual results for 2010, 2009 and 2008, for these income tax errors.

Shares of Lydall, Inc. (Public, NYSE:LDL) fell from as high as $11.62 per share on Nov. 3, 2011 to $9.02 on November 9, 2011 and closed on Friday, Nov. 18, 2011, at $9.07 per share.

Start Monitoring Your Investments