SOURCE: Klafter Olsen & Lesser LLP

 
Mar 25, 2009 19:56 ET

Klafter Olsen & Lesser LLP Announces That a Class Action Lawsuit Has Been Filed Against Insight Enterprises, Inc.

RYE BROOK, NY--(Marketwire - March 25, 2009) - Klafter Olsen & Lesser LLP, which has recovered hundreds of millions of dollars on behalf of defrauded investors and consumers, announces that a class action lawsuit has been filed against Insight Enterprises, Inc. ("Insight" or the "Company") (NASDAQ: NSIT) and certain of its officers in the U.S. District Court for the District of Arizona on behalf of all persons or entities who purchased the securities of Insight from January 30, 2007 through February 6, 2009, inclusive (the "Class Period"). As described below, if you purchased any of Insight's publicly traded securities during the Class Period, you have until 60 days from March 24, 2009 to move the Court to be appointed a Lead Plaintiff.

Defendant Insight is a provider of information technology hardware, software, and services to large enterprises, small- to medium-sized businesses, and public sector institutions throughout the world. The Complaint alleges that the Defendants violated the federal securities laws by publicly disseminating materially false and misleading financial statements that the Company has recently admitted violated Generally Accepted Accounting Principles. Specifically, on February 9, 2009, Insight shocked the market when it revealed for the first time that its historical accounting treatment of certain aged trade credits has been improper since 1996. As a result, Insight announced that it expects to materially reduce its retained earnings as of December 31, 2004 by $50-$70 million and to otherwise restate its financial statements for 2007 and the first three quarters of 2008. In response to that announcement, Insight's stock price plunged from a close of $5.90 per share on February 6 to $3.05 per share on February 9 -- a decline of 48%.

If you purchased any of Insight's publicly traded securities during the Class Period and sustained losses, please contact Klafter Olsen & Lesser LLP at www.klafterolsen.com or call us at 914/934-9200 for a more thorough explanation of the claims that have been asserted against Insight. Klafter Olsen & Lesser LLP has extensive expertise in prosecuting investor class actions involving financial fraud and has offices in New York, Washington D.C. and New Jersey. Please visit our website for more information about the Firm.

Contact:
Jeffrey A. Klafter
KLAFTER OLSEN & LESSER LLP
Two International Drive, Suite 350
Rye Brook, NY 10573
914/934-9200