| Company: | Adecco |
| Ticker Symbol: | NYSE: ADO |
| Class Period: | March 16, 2000 to January 9, 2004 |
| Court: | Eastern District, NY |
| Date Filed: | Jan-19-04 |
| Lead Plaintiff Deadline: | Mar-16-04 |
| Allegations: |
A securities class action has been commenced on behalf of shareholders who purchased, converted, exchanged or otherwise acquired publicly traded securities of Adecco SA
(NYSE:ADO) between March 16, 2000 and January 9, 2004, inclusive (the "Class Period").
The case is pending in the United States District Court for the Eastern District of New York.
The action charges that defendants violated federal securities laws by issuing a series of materially false and misleading statements to the market throughout the Class Period which statements had the effect of artificially inflating the market price of the Company's securities.
The Complaint charges Adecco and certain of the Company's executive officers with violations of federal securities laws. Among other things, plaintiff claims that defendants' dissemination of materially false and misleading statements concerning Adecco's financial performance caused the Company's stock price to become artificially inflated, inflicting damages on investors. Adecco is primarily engaged in providing personnel and permanent placement services to businesses throughout North America, Europe, Asia-Pacific and Latin America. The complaint alleges that during the Class Period defendants caused Adecco to report in its public filings, press releases and other public statements favorable financial results by, among other things, artificially inflating the Company's revenue and earnings by improper accounting practices. On January 12, 2004, an Adecco press release announced a delay in the completion of an audit of the Company's 2003 financial results. Moreover, the press release disclosed that the delay was the result of "material weaknesses in internal controls in the Company's North American operations of Adecco Staffing" and "possible accounting, control and compliance issues in the Company's operations in certain countries." News of the Company's accounting problems shocked the market, causing Adecco's stock price to plummet more than 30% on the day the press release was issued.
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 case is pending in the United States District Court for the Eastern District of New York.
The action charges that defendants violated federal securities laws by issuing a series of materially false and misleading statements to the market throughout the Class Period which statements had the effect of artificially inflating the market price of the Company's securities.
The Complaint charges Adecco and certain of the Company's executive officers with violations of federal securities laws. Among other things, plaintiff claims that defendants' dissemination of materially false and misleading statements concerning Adecco's financial performance caused the Company's stock price to become artificially inflated, inflicting damages on investors. Adecco is primarily engaged in providing personnel and permanent placement services to businesses throughout North America, Europe, Asia-Pacific and Latin America. The complaint alleges that during the Class Period defendants caused Adecco to report in its public filings, press releases and other public statements favorable financial results by, among other things, artificially inflating the Company's revenue and earnings by improper accounting practices. On January 12, 2004, an Adecco press release announced a delay in the completion of an audit of the Company's 2003 financial results. Moreover, the press release disclosed that the delay was the result of "material weaknesses in internal controls in the Company's North American operations of Adecco Staffing" and "possible accounting, control and compliance issues in the Company's operations in certain countries." News of the Company's accounting problems shocked the market, causing Adecco's stock price to plummet more than 30% on the day the press release was issued.
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.
If you feel you qualify for damages or remedies that might be awarded in this class action please fill in our form on the right to submit your complaint.
If your injustice does not match the complaint described above, please use this form to register your complaint. Thank you.
