| Company: | Jarden Corp. |
| Ticker Symbol: | NYSE: JAH |
| Class Period: | June 29, 2005 to January 11, 2006 |
| Date Filed: | Feb-03-06 |
| Lead Plaintiff Deadline: | April-04-06 |
| Court: | Southern District, NY |
| Allegations: |
A lawsuit has been filed and is seeking class action status in the United States District Court for the Southern District of New York on behalf of all persons who purchased the publicly traded securities of Jarden Corp. (NYSE: JAH; "Jarden") between June 29, 2005 and January 11, 2006 (the "Class Period").
The Complaint alleges that Jarden and CEO Martin Franklin ("Franklin") violated the federal securities laws in connection with a scheme to convert hundreds of millions of dollars of convertible stock to common stock, and earn defendant Franklin tens of millions of dollars in restricted stock compensation. Specifically, it is asserted that Franklin misrepresented the business situation and potential of the Holmes Group, Inc. when that company was acquired by Jarden at the beginning of the Class Period. This caused the stock to rise substantially, triggering the personal benefits to Franklin. On January 11, 2006 Jarden announced that Holmes' profit margins and product mix were not what the market had been led to expect. On this news, Jarden's stock fell 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.
At LawyersandSettlements.com, it is our goal to keep you informed about important legal cases and settlements. We are dedicated to helping you resolve your legal complaints.
The Complaint alleges that Jarden and CEO Martin Franklin ("Franklin") violated the federal securities laws in connection with a scheme to convert hundreds of millions of dollars of convertible stock to common stock, and earn defendant Franklin tens of millions of dollars in restricted stock compensation. Specifically, it is asserted that Franklin misrepresented the business situation and potential of the Holmes Group, Inc. when that company was acquired by Jarden at the beginning of the Class Period. This caused the stock to rise substantially, triggering the personal benefits to Franklin. On January 11, 2006 Jarden announced that Holmes' profit margins and product mix were not what the market had been led to expect. On this news, Jarden's stock fell 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.
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