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Law Offices of Todd M. Garber Announces Class Action Lawsuit Against ModusLink Global Solutions, Inc.

Wednesday, June 13, 2012 6:00 PM


The Law Offices of Todd M. Garber announces that a class action lawsuit has been filed in the United States District Court for the District of Massachusetts on behalf of a class (the “Class”) consisting of all persons or entities who purchased the common stock of ModusLink Global Solutions, Inc. ("ModusLink” or the “Company”) (NASDAQ:MLNK) between September 26, 2007 and June 8, 2012, inclusive (the “Class Period”). ModusLink, through its subsidiaries, provides supply chain business process management solutions worldwide.

The Complaint alleges that the Company and certain of its executive officers issued false and/or misleading statements concerning the Company’s business and financial prospects. Specifically, defendants misrepresented or failed to disclose that: (1) the Company’s accounting for rebates associated with volume discounts provided by vendors was improper and misleading; (2) the Company’s financial statements during the Class Period did not provide a fair presentation of the Company’s finances and operations; (3) as a result, the Company’s financial results were not prepared in accordance with GAAP; (4) the Company lacked adequate internal and financial controls; and (5), as a result of the above, the Company’s financial statements were materially false and misleading at all relevant times.

If you are a member of the above-described Class, you may move the Court no later than August 13, 2012 to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class you need not take any action at this time, or you may retain counsel of your choice. If you have information or would like to learn more about these claims, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Todd M. Garber, Esquire, of the Law Offices of Todd M. Garber, by telephone at 213-700-7262 or by email to info@toddgarberlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

(Source: Business Wire )
(Source: Quotemedia)

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