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| Company: | SFBC International Inc. |
| Ticker Symbol: | NASD: SFCC |
| Class Period: | February 17, 2004 t0 December 15, 2005 |
| Date Filed: | Jan-03-06 |
| Lead Plaintiff Deadline: | Mar-06-06 |
| Court: | Southern District, FL |
| Allegations: |
A securities fraud lawsuit has been filed on behalf of all persons who purchased the securities of SFBC International Inc. ("SFBC" or the "Company") (Nasdaq: SFCC) on the open market during the period February 17, 2004 through December 15, 2005 (the "Class Period").
The action is pending in the United States District Court, Southern District of Florida, against defendants SFBC, Lisa Krinsky (Chairman, COO), Arnold Hantman (CEO), and E. Cooper Shamblen (V.P. Clinical Operations), and is seeking remedies under the Securities Exchange Act of 1934.
The complaint alleges that during the Class Period, the defendants misrepresented SFBC's business conditions, prospects and financial results to public investors by touting the Company's strong revenue, earnings, and its ability to outperform competitors and obtain large contracts from drug companies, because of the large numbers of participants its facilities could handle, and its ability to quickly recruit participants for drug trials. The Company's financial success, however, was the result of business practices that were improper and reckless, and if discovered, would cause the Company to lose its credibility for accurate drug testing, and thus lose customers, expose the Company to fines and possible lawsuits from victims of faulty drugs, and face heavy regulation such that its ability to outperform competitors and quickly recruit large groups of participants could no longer be sustained.
When the truth of defendants business practices was revealed to the market beginning on November 2, 2005, through the end of the Class Period on December 15, 2005, SFBC's stock price fell from $41.49 to $15.78, a staggering 61.9% drop.
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 action is pending in the United States District Court, Southern District of Florida, against defendants SFBC, Lisa Krinsky (Chairman, COO), Arnold Hantman (CEO), and E. Cooper Shamblen (V.P. Clinical Operations), and is seeking remedies under the Securities Exchange Act of 1934.
The complaint alleges that during the Class Period, the defendants misrepresented SFBC's business conditions, prospects and financial results to public investors by touting the Company's strong revenue, earnings, and its ability to outperform competitors and obtain large contracts from drug companies, because of the large numbers of participants its facilities could handle, and its ability to quickly recruit participants for drug trials. The Company's financial success, however, was the result of business practices that were improper and reckless, and if discovered, would cause the Company to lose its credibility for accurate drug testing, and thus lose customers, expose the Company to fines and possible lawsuits from victims of faulty drugs, and face heavy regulation such that its ability to outperform competitors and quickly recruit large groups of participants could no longer be sustained.
When the truth of defendants business practices was revealed to the market beginning on November 2, 2005, through the end of the Class Period on December 15, 2005, SFBC's stock price fell from $41.49 to $15.78, a staggering 61.9% drop.
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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If you have suffered from financial losses, you may qualify for damages or remedies that may be awarded in a possible class action lawsuit. Please fill in our form on the right to submit your complaint and we will have a lawyer review your securities complaint.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.
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