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If you purchased a significant amount of shares of this company you have certain options and for certain investors are short and strict deadlines running. Investors 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
Pzena Asset Management Inc. Case 11/21/2007: UPDATE
Pzena Investment Management, Inc. (NYSE: PZN) announced that the United States Court of Appeals for the Second Circuit affirmed the Judgment of the United States District Court for the Southern District of New York that dismissed the putative class action lawsuits alleging securities law violations that were filed against the Company, its CEO, and its underwriters in 2007.
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<p align= justify >According to a law firm press release, on November 21, 2007 a class action lawsuit has been commenced on behalf of a class of all persons who purchased or acquired securities of Pzena Asset Management, Inc. in the Company’ s initial public offering which commenced on October 24, 2007. The claims asserted arise under Section 11 of the Securities Act of 1933, and have been asserted against Pzena and the Company’ s Chief Executive Officer.</p>
<p align= justify >The complaint alleges that Defendants made materially misleading statements and otherwise failed to disclose a pattern of net redemptions in the largest mutual fund advised by Pzena, which existed at the time of the IPO. The subsequent disclosure of these facts three weeks later resulted in the price of the Company’ s common stock declining, causing Plaintiff and the other members of the Class to suffer damages.</p>