| Company: | Motorola, Inc. |
| Ticker Symbol: | NYSE: MOT |
| Class Period:: | July 19, 2006 to January 4, 2007 |
| Date Filed: | Aug-10-07 |
| Lead Plaintiff Deadline: | Oct-08-07 |
| Court: | Northern District, IL |
| Allegations: |
A securities class action lawsuit has been commenced in the United States District Court for the Northern District of Illinois on behalf of purchasers of Motorola, Inc. ("Motorola") (NYSE:MOT) publicly traded securities during the period between July 19, 2006 and January 4, 2007 (the "Class Period").
The complaint charges Motorola and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Motorola builds, markets and sells products, services and applications that make connections to people, information and entertainment through broadband, embedded systems and wireless networks.
The complaint alleges that in the summer of 2006, Motorola's poor financial performance had depressed its stock price to below $19 per share. In order to artificially inflate the price of Motorola stock, defendants began a series of false and misleading statements regarding the Company's business and prospects. Specifically, defendants repeatedly told investors to expect strong growth in sales and revenues. On October 17, 2006, defendants announced that Motorola had failed to meet its revenue and sales projections. As a result of this announcement, Motorola's stock price declined over 7% in two trading days. Then on January 4, 2007, defendants announced that Motorola's fourth quarter 2006 results also failed to meet expectations. This time, the Company's stock price declined almost 8%.
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 charges Motorola and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Motorola builds, markets and sells products, services and applications that make connections to people, information and entertainment through broadband, embedded systems and wireless networks.
The complaint alleges that in the summer of 2006, Motorola's poor financial performance had depressed its stock price to below $19 per share. In order to artificially inflate the price of Motorola stock, defendants began a series of false and misleading statements regarding the Company's business and prospects. Specifically, defendants repeatedly told investors to expect strong growth in sales and revenues. On October 17, 2006, defendants announced that Motorola had failed to meet its revenue and sales projections. As a result of this announcement, Motorola's stock price declined over 7% in two trading days. Then on January 4, 2007, defendants announced that Motorola's fourth quarter 2006 results also failed to meet expectations. This time, the Company's stock price declined almost 8%.
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.
