| Company: | TRM Corporation |
| Ticker Symbol: | NASD: TRMM |
| Class Period: | March 16, 2006 to May 22, 2007 |
| Date Filed: | May-23-08 |
| Lead Plaintiff Deadline: | July-21-08 |
| Court: | District, OR |
| Allegations: |
A class action has been commenced in the United States District Court for the District of Oregon on behalf of purchasers of TRM Corporation ("TRM" or the "Company") (NASD:TRMM) common stock during the period between March 16, 2006 and May 22, 2007 (the "Class Period"). If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from May 23, 2008.
The complaint charges TRM and certain of its officers and directors with violations of the Securities Exchange Act of 1934. The Company provides convenience ATM services to consumers in retail environments in the United States.
The complaint alleges that, throughout the Class Period, defendants issued positive statements about the Company's financial health and performance. As alleged in the complaint, these statements were materially false and misleading because defendants misrepresented and failed to disclose: (a) that the Company's financial results were artificially inflated due to the failure to timely write down certain assets, which were materially overvalued in the Company's financial statements; (b) that the Company lacked adequate internal controls and procedures necessary to ascertain its true financial condition and worth; and (c) as a result of the foregoing, the Company's ability to continue its operations and remain a going-concern was in serious doubt. At the end of the Class Period, the Company provided investors with details about the progress of its restructuring plan and announced new management positions. Following this disclosure, shares of the Company's stock declined dramatically.
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 TRM and certain of its officers and directors with violations of the Securities Exchange Act of 1934. The Company provides convenience ATM services to consumers in retail environments in the United States.
The complaint alleges that, throughout the Class Period, defendants issued positive statements about the Company's financial health and performance. As alleged in the complaint, these statements were materially false and misleading because defendants misrepresented and failed to disclose: (a) that the Company's financial results were artificially inflated due to the failure to timely write down certain assets, which were materially overvalued in the Company's financial statements; (b) that the Company lacked adequate internal controls and procedures necessary to ascertain its true financial condition and worth; and (c) as a result of the foregoing, the Company's ability to continue its operations and remain a going-concern was in serious doubt. At the end of the Class Period, the Company provided investors with details about the progress of its restructuring plan and announced new management positions. Following this disclosure, shares of the Company's stock declined dramatically.
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.
