|Company:||LeapFrog Enterprises, Inc|
|Class Period:||Mar-5-14 to Jan-22-15|
|Lead Plaintiff Deadline:||Mar-28-15|
The lawsuit alleges that LeapFrog made false and/or misleading statements and/or failed to disclose that: (1) it was experiencing a decline in consumer demand; (2) the launch and shipment of the new LeapTV video game system were delayed by developmental issues; (3) retailers were overstocked with LeapFrog's LeapPad products; (4) as a result, the Company lacked a reasonable basis for its financial guidance; and (5) as a result of the foregoing, the Company's statements were materially false and misleading at all relevant times.
On January 22, 2015, after market close, LeapFrog announced disappointing preliminary results for the quarter ended December 31, 2014. LeapFrog also announced a $107 million write-down of goodwill and deferred tax assets. The Company attributed the sales shortfall in part to delays in shipping and promoting LeapTV-- an educational video game system. On this news, shares of LeapFrog fell sharply during intraday trading on January 23, 2015, damaging investors.
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.