| Company: | TNS Inc. |
| Ticker Symbol: | NYSE: TNS |
| Class Period: | September 16, 2005 |
| Date Filed: | Apr-05-06 |
| Lead Plaintiff Deadline: | Jun-02-06 |
| Court: | Eastern District, VA |
| Allegations: |
A securities class action lawsuit has been filed on behalf of shareholders who purchased the common stock and other securities of TNS Inc. (NYSE: TNS) ("TNS" or the "Company") pursuant to the Company's secondary offering of common stock on or about September 16, 2005. The class action lawsuit was filed in the United States District Court for the Eastern District of Virginia.
The Complaint alleges that defendants violated federal securities laws by issuing a series of materially misleading statements in connection with the Secondary Offering. Specifically, TNS filed a Registration Statement in which defendants failed to disclose several "material changes" to TNS's continuing operations including the following: (i) contrary to earlier statements, an agreement that TNS had with the Pepsi Bottling Group (the "Pepsi Contract") had been delayed beyond August 7, 2005; (ii) at the time of the Secondary Offering, TNS was generating less revenues and earnings than it had anticipated from its contract with the Royal Bank of Scotland; and (iii) at the time of the Secondary Offering, the Company's International Services Division was experiencing declining revenues because of unfavorable exchange rates.
On October 20, 2005, TNS announced its financial results for the third quarter of 2005 and noted that it had missed its top-line revenue guidance because of delays in the Company's Pepsi Contract, the impact of unfavorable exchange rates and a reduction in transaction volume from RBS. Following this announcement, shares of TNS common stock fell 25%. Then, on February 22, 2006, the Company reported declining financial results for the fourth quarter of 2005 and attributed the decline to a further delay associated with the Pepsi Contract and the continued impact of unfavorable exchange rates. On this news, shares of TNS declined an additional 19%.
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 alleges that defendants violated federal securities laws by issuing a series of materially misleading statements in connection with the Secondary Offering. Specifically, TNS filed a Registration Statement in which defendants failed to disclose several "material changes" to TNS's continuing operations including the following: (i) contrary to earlier statements, an agreement that TNS had with the Pepsi Bottling Group (the "Pepsi Contract") had been delayed beyond August 7, 2005; (ii) at the time of the Secondary Offering, TNS was generating less revenues and earnings than it had anticipated from its contract with the Royal Bank of Scotland; and (iii) at the time of the Secondary Offering, the Company's International Services Division was experiencing declining revenues because of unfavorable exchange rates.
On October 20, 2005, TNS announced its financial results for the third quarter of 2005 and noted that it had missed its top-line revenue guidance because of delays in the Company's Pepsi Contract, the impact of unfavorable exchange rates and a reduction in transaction volume from RBS. Following this announcement, shares of TNS common stock fell 25%. Then, on February 22, 2006, the Company reported declining financial results for the fourth quarter of 2005 and attributed the decline to a further delay associated with the Pepsi Contract and the continued impact of unfavorable exchange rates. On this news, shares of TNS declined an additional 19%.
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.
