| Company: | CSK Auto Corporation |
| Ticker Symbol: | NYSE: CAO |
| Class Period: | September 2, 2004 to March 24, 2006 |
| Date Filed: | Jun-12-06 |
| Lead Plaintiff Deadline: | Aug-08-06 |
| Court: | District, AZ |
| Allegations: |
A lawsuit seeking class action status has been filed in the United States District Court for the District of Arizona on behalf of all persons who purchased or otherwise acquired the common stock of CSK Auto Corporation ("CSK Auto" or the "Company") (NYSE:CAO) between September 2, 2004 and March 24, 2006, inclusive, (the "Class Period").
The Complaint alleges that defendants violated federal securities laws by issuing a series of materially false statements. Specifically, defendants made misrepresentations concerning CSK Auto's earnings, assets and business prospects causing the Company's stock to trade at artificially inflated levels. While the Company's stock was artificially inflated due to defendants' false statements, certain officers and directors sold 75,106 shares of their CSK Auto stock for proceeds of $1.1 million.
Then on March 27, 2006, before the market opened, CSK Auto issued a press release announcing that it would postpone the release of its fourth quarter and fiscal 2005 financial results. The postponement was necessary to provide adequate time for the Company to conduct a thorough review of certain accounting errors and irregularities discovered in the course of its ongoing assessment of internal control over financial reporting and an internal audit. On this news, CSK Auto stock dropped $1.26 to $14.64 per share, after hitting a low of $14.40 per share.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
The Complaint alleges that defendants violated federal securities laws by issuing a series of materially false statements. Specifically, defendants made misrepresentations concerning CSK Auto's earnings, assets and business prospects causing the Company's stock to trade at artificially inflated levels. While the Company's stock was artificially inflated due to defendants' false statements, certain officers and directors sold 75,106 shares of their CSK Auto stock for proceeds of $1.1 million.
Then on March 27, 2006, before the market opened, CSK Auto issued a press release announcing that it would postpone the release of its fourth quarter and fiscal 2005 financial results. The postponement was necessary to provide adequate time for the Company to conduct a thorough review of certain accounting errors and irregularities discovered in the course of its ongoing assessment of internal control over financial reporting and an internal audit. On this news, CSK Auto stock dropped $1.26 to $14.64 per share, after hitting a low of $14.40 per share.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
