Milberg Weiss Announces The Filing Of A Class Action Suit Against DHB Industries Inc. And Certain Of Its Officers and Directors
2005年9月15日 - 1:09AM
ビジネスワイヤ(英語)
The law firm of Milberg Weiss Bershad & Schulman LLP announces
that a class action lawsuit was filed today on behalf of purchasers
of the securities of DHB Industries Inc. ("DHB" or the "Company")
(AMEX: DHB) between April 29, 2004 to August 29, 2005, inclusive
(the "Class Period"), seeking to pursue remedies under the
Securities Exchange Act of 1934 (the "Exchange Act"). If you bought
the securities of DHB between April 29, 2004 to August 29, 2005 and
sustained damages, you may, no later than November 8, 2005, request
that the Court appoint you as lead plaintiff. A lead plaintiff is a
representative party that acts on behalf of other class members in
directing the litigation. In order to be appointed lead plaintiff,
the Court must determine that the class member's claim is typical
of the claims of other class members, and that the class member
will adequately represent the class. Under certain circumstances,
one or more class members may together serve as "lead plaintiff."
Your ability to share in any recovery is not, however, affected by
the decision whether or not to serve as a lead plaintiff. You may
retain Milberg Weiss Bershad & Schulman LLP, or other counsel
of your choice, to serve as your counsel in this action. The
action, numbered 05-CV-4332, is pending in the United States
District Court for the Eastern District of New York against
defendants DHB, David H. Brooks (CEO and Chairman), Dawn M.
Schlegel (CFO) and Sandra L. Hatfield (COO). A copy of the
complaint filed in this action is available from the Court, and can
be retrieved from the clerk's office and various services, or can
be viewed on Milberg Weiss's website at:
http://www.milbergweiss.com The complaint alleges that defendants'
Class Period positive representations regarding DHB's fast-growing
business, disseminated in press releases and SEC filings, were
materially false and misleading because they failed to disclose
that a material portion of the Company's bulletproof vests
contained a material amount of Zylon fibers whose effectiveness at
stopping bullets degraded over time. By the beginning of the Class
Period, defendants knew, or recklessly disregarded, that vests
containing Zylon could potentially fail to stop bullets because of
fiber degradation, and that serious concerns about their use in
body armor was growing in the law enforcement community. Defendant,
however, failed to warn investors of the palpable and substantial
risk that its Zylon products posed to the Company's business. While
the price of the Company's securities was artificially inflated,
and before its collapse, DHB insiders, including defendants Brooks,
Schlegel and Hatfield, sold a total of 11,288,789 million shares of
DHB common stock, reaping gross proceeds of over $220 million. Of
that amount, defendant Brooks sold over 10.4 million shares for
proceeds exceeding $204 million. The average price at which
insiders sold their DHB stock was $19.51. On August 30, 2005,
before the open of ordinary trading, DHB issued a press release
announcing that it stopped using Zylon in its body armor after the
National Institute of Justice revoked its certification of
Zylon-containing body armor. In addition, the Company announced
that it would replace all Zylon vests in the field. This
replacement program would result in an estimated $60 million charge
in the third quarter of 2005. On this news, the price of DHB common
stock fell by 23% in one day, from $6.66 per share on August 29,
2005 to $5.10 per share on August 30, 3005, on unusually heavy
trading volume. DHB's tock price continued to decline, falling to
$4.58 by the close of August 31, 2005. The insiders who sold their
shares during the Class Period, at the average price of $19.51 per
share, avoided tremendous losses. Milberg Weiss Bershad &
Schulman LLP (http://www.milbergweiss.com) is a firm with over 100
lawyers with offices in New York City, Los Angeles, Boca Raton,
Delaware, Seattle and Washington, D.C. and is active in major
litigations pending in federal and state courts throughout the
United States. Milberg Weiss has taken a leading role in many
important actions on behalf of defrauded investors, consumers, and
others for nearly 40 years. Please contact the Milberg Weiss
website for more information about the firm. If you wish to discuss
this action with us, or have any questions concerning this notice
or your rights and interests with regard to the case, please
contact the following attorneys: Steven G. Schulman Peter E.
Seidman Andrei V. Rado One Pennsylvania Plaza, 49th fl. New York,
NY, 10119-0165 Phone number: (800) 320-5081 Email:
sfeerick@milbergweiss.com Website: http://www.milbergweiss.com
Dhb Industries (AMEX:DHB)
過去 株価チャート
から 5 2024 まで 6 2024
Dhb Industries (AMEX:DHB)
過去 株価チャート
から 6 2023 まで 6 2024