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

Princeton Review Inc (The) (NASDAQ: REVU)Investor Securities Class Action Lawsuit 07/29/2011

  • If you purchased shares of Princeton Review Inc (The) (NASDAQ: REVU), 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
The Princeton Review, Inc
Security
NASDAQ: REVU

Case Name
The Princeton Review Shareholder Class Action Lawsuit 07/29/2011
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
You must register or login to receive notifications.

Click here to subscribe to The Princeton Review, Inc.
Summary

March 6, 2012 - The court granted defendants' motions to dismiss with prejudice.
December 7, 2011 - Defendants filed motions to dismiss.

November 7, 2011 - The lead plaintiff filed an amended complaint.

September 28, 2011 - Lead plaintiff and lead counsel were appointed.

September 27, 2011 - Lead plaintiff motion was filed.

July 29, 2011 - An investor in shares of Princeton Review Inc (The) (NASDAQ: REVU now a privately-held company) filed a lawsuit in U.S. District Court for the District of Massachusetts against Princeton Review Inc (The) over alleged violations of Federal Securities Laws.

According to the complaint the plaintiff alleges on behalf of investors who purchased their common stock of Princeton Review Inc (The) (NASDAQ: REVU) in or traceable to its public offering of common stock on or about April 15, 2010, and on behalf of purchasers of Princeton Review Inc's common stock between March 12, 2009 and March 11, 2011, that the Princeton Review Inc (The) and certain of its officers and directors violated the Securities Act of 1933 and the Securities Exchange Act of 1934 by issuing materially false and misleading statements regarding its business and prospects.

The Princeton Review Inc’s (The) annual Total Revenue increased from $110.61million in 2007 to $214.43million in 2010. However its Net Loss rose from $8.69million for 2008 to $51.74million for 2010. Additionally its first quarter Revenue fell from $63.19million last year to $49.73million this year.

On March 9, 2011, Princeton Review Inc (The) announced that its President and Chief Executive Officer, defendant Michael Perik, resigned and that the Board appointed John M. Connolly as Interim President and CEO. That same day, Princeton Review Inc (The) issued a press release announcing its financial results for the fourth quarter and full year 2010.

The price of Princeton Review Inc (The) stock declined 37.80% to $0.51 per share on March 10, 2011, and then declined another 23.53% on March 11, 2011, to close at $0.39 per share. Overall shares of Princeton Review Inc (The) (NASDAQ: REVU) fell from as high as $8.68 in 2008 to as low as $0.18 in May 2011.