SOURCE: Izard Nobel LLP
Izard Nobel LLP Announces Class Action Lawsuit Against Insight Enterprises, Inc.
WEST HARTFORD, CT--(Marketwire - March 25, 2009) - The law firm of Izard Nobel LLP, which
has significant experience representing investors in prosecuting claims of
securities fraud, announces that a lawsuit seeking class action status has
been filed in the United States District Court for the District of Arizona
on behalf of those who purchased the securities of Insight Enterprises,
Inc. ("Insight" or the "Company") (
The Complaint charges that Insight and certain of its officers and directors violated federal securities laws by making materially false statements. Specifically, Defendants failed to disclose the following: (i) Insight was improperly accounting for trade credits; (ii) the Company's financial results were not prepared in accordance with Generally Accepted Accounting Principles; (iii) Insight lacked adequate internal and financial controls; and (iv) as a result, the Company's financial statements were materially false and misleading.
On February 9, 2009, Insight revealed that it would restate its previously reported earnings as a result of its historical accounting treatment of aged trade credits. Insight also announced that it expects to restate financial statements included in the Company's most recently filed Annual Report on Form 10-K, for the year ended December 31, 2007, and in the Quarterly Reports on Form 10-Q for the first three quarters of fiscal year 2008. On this news, shares of Insight fell $2.85 to close at $3.05 per share.
If you are a member of the class, you may, no later than May 25, 2009, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.
While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, and your rights, visit: www.izardnobel.com/insightenterprises/, or contact Izard Nobel LLP toll-free at (800) 797-5499, or by e-mail: firm@izardnobel.com. For more information about class action cases in general, please visit our website: www.izardnobel.com.
