| Company: | Vodafone Group Public Limited Company |
| Ticker Symbol: | NYSE: VOD |
| Class Period: | June 10, 2004 to February 24, 2006 |
| Date Filed: | Nov-15-07 |
| Lead Plaintiff Deadline: | Jan-11-08 |
| Court: | Southern District, NY |
| Allegations: |
A class action has been commenced on behalf of an institutional investor in the United States District Court for the Southern District of New York on behalf of purchasers of Vodafone Group Public Limited Company ("Vodafone") (NYSE:VOD) publicly traded securities, including common/ordinary stock and American Depositary Receipts ("ADRs"), during the period between June 10, 2004 and February 24, 2006 (the "Class Period").
The complaint charges Vodafone and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Vodafone is one of the world's largest providers of mobile telephone services, with worldwide operations in 28 countries, including in the United States, Germany, Italy and Japan.
The complaint alleges that defendants' statements regarding Vodafone's business and prospects issued during the Class Period were false and misleading in failing to disclose the following true facts: (a) throughout the Class Period, Vodafone's financial statements and reports were materially falsified and overstated, including the overstatement of its assets and operating earnings due to the over-valuation of its German, Italian and Japanese operations; (b) Vodafone's German operations had not been successfully integrated into Vodafone's overall operations and were suffering from significant operational problems, inefficiencies and a lack of growth and profitability adequate to permit Vodafone to recover its investment in its German operations; (c) Vodafone's Japanese operations were materially overvalued on Vodafone's financial statements due to the failure to hold or gain sufficient market share so as to permit Vodafone to recover its investment in its Japanese operations; (d) Vodafone's "One Vodafone" cost savings and operational efficiency initiative was not succeeding or achieving any significant cost savings; and (e) due to the foregoing adverse factors which were negatively impacting Vodafone's operations and financial performance, defendants knew that the levels of financial performance being forecast for Vodafone for fiscal 2006 and 2007 would not and could not be achieved.
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 Vodafone and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Vodafone is one of the world's largest providers of mobile telephone services, with worldwide operations in 28 countries, including in the United States, Germany, Italy and Japan.
The complaint alleges that defendants' statements regarding Vodafone's business and prospects issued during the Class Period were false and misleading in failing to disclose the following true facts: (a) throughout the Class Period, Vodafone's financial statements and reports were materially falsified and overstated, including the overstatement of its assets and operating earnings due to the over-valuation of its German, Italian and Japanese operations; (b) Vodafone's German operations had not been successfully integrated into Vodafone's overall operations and were suffering from significant operational problems, inefficiencies and a lack of growth and profitability adequate to permit Vodafone to recover its investment in its German operations; (c) Vodafone's Japanese operations were materially overvalued on Vodafone's financial statements due to the failure to hold or gain sufficient market share so as to permit Vodafone to recover its investment in its Japanese operations; (d) Vodafone's "One Vodafone" cost savings and operational efficiency initiative was not succeeding or achieving any significant cost savings; and (e) due to the foregoing adverse factors which were negatively impacting Vodafone's operations and financial performance, defendants knew that the levels of financial performance being forecast for Vodafone for fiscal 2006 and 2007 would not and could not be achieved.
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.
