Sep. 22, 2009 (PR Newswire) --
RADNOR, Pa., Sept. 22 /PRNewswire/ -- The following statement was issued today by the law firm of Barroway Topaz Kessler Meltzer & Check, LLP:
Notice is hereby given that a class action lawsuit was filed in the United States District Court for the Eastern District of Pennsylvania on behalf of purchasers of securities of Immucor, Inc. (Nasdaq: BLUD) ("Immucor" or the "Company") between October 19, 2005 and April 23, 2009 inclusive (the "Class Period"). This case is related to various other federal actions which have been consolidated and centralized in the proceeding entitled In re: Blood Reagents Antitrust Litigation, MDL No. 2081, pending in the Eastern District of Pennsylvania before the Honorable Jan E. DuBois.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Barroway Topaz Kessler Meltzer & Check, LLP (Darren J. Check, Esq. or David M. Promisloff, Esq.) toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at info@btkmc.com.
The Complaint charges Immucor and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Immucor, together with its subsidiaries, engages in the development, manufacture, and sale of various blood reagents. More specifically, the Complaint alleges that the Company failed to disclose and misrepresented the following material adverse facts which were known to defendants or recklessly disregarded by them: (1) that the Company had engaged in unlawful business practices with its competitors in the blood reagents industry; (2) that the Company had agreed with its competitors in the industry to fix, raise, maintain and stabilize prices for blood reagents and related medical equipment in the U.S. market; (3) that the Company's revenues had been significantly increased through the employment of such unlawful business practices; (4) that, as a result, the Company's financial statements were false and misleading at all relevant times; (5) that such unlawful business practices, when they were discovered, would initiate an investigation by the federal authorities into the Company's business practices; (6) that the Company lacked adequate internal and financial controls; and (7) that, as a result of the foregoing, the Company's statements about its financial well-being and future business prospects were lacking in any reasonable basis when made.
On April 24, 2009, the Company shocked investors when it announced that it had received a grand jury subpoena from the United States Department of Justice, Antitrust Division ("DOJ") requesting documents from September 1, 2000 through the present regarding an investigation into potential violations of the federal criminal antitrust laws in the blood reagents industry.
