| Company: | Inyx, Inc |
| Ticker Symbol: | IYXI |
| Class Period: | Mar-31-05 to Jul-2-07 |
| Date Filed: | Aug-22-08 |
| Lead Plaintiff Deadline: | Oct-21-08 |
| Court: | Southern District of New York |
| Allegations: | |
No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than October 20, 2008 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period.
The complaint alleges that during the Class Period the Company, and certain of its officers and/or directors, violated federal securities laws (under the Securities Exchange Act of 1934) by issuing various materially false and misleading statements that had the effect of artificially inflating the market price of the Company's securities and causing Class members to overpay for the securities including that the Company materially overstated its assets and revenues by creating invoices were created before the items were billable and had not actually been issued to customers and as a result, the Company's financial statements were not prepared in accordance with Generally Accepted Accounting Principles and were materially false and misleading. The complaint also alleges that on July 2, 2007, after publication of a report that Inyx had filed for Chapter 11 protection, the price of Inyx common stock declined substantially.
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.
