| Company: | Celestica Inc. |
| Ticker Symbol: | NYSE: CLS |
| Class Period: | July 27, 2006 to December 12, 2006 |
| Date Filed: | Jan-12-07 |
| Lead Plaintiff Deadline: | Mar-10-07 |
| Court: | Southern District, NY |
| Allegations: |
A class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of Celestica Inc. ("Celestica" or the "Company") (NYSE:CLS) securities during the period between July 27, 2006 and December 12, 2006, inclusive (the "Class Period").
The complaint charges Celestica and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Celestica provides electronic manufacturing services to original equipment manufacturers in the computing, telecommunications, aerospace and defense, automotive, consumer electronics, and industrial sectors in Asia, the Americas, and Europe.
According to the complaint, throughout the Class Period, defendants issued numerous statements describing the Company's financial performance and future prospects, which they attributed, in part, to success of the Company's restructuring activities and improvements in the Mexican and European operations. The complaint alleges that these statements were materially false and misleading when made because defendants failed to disclose and/or misrepresented the following adverse facts, among others: (i) that the Company was experiencing declining demand in its Mexican operations and that division was carrying significant amounts of unneeded inventory which would have to be written off; (ii) that the Company was experiencing declining demand in its Information Technology ("IT") and communications market segments as its larger customers scaled back purchases; and (iii) as a result of the foregoing, there was no reasonable basis to project adjusted earnings per share ranging from $0.12 to $0.20. When this undisclosed information later became public, shares of Celestica common stock declined.
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 Celestica and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Celestica provides electronic manufacturing services to original equipment manufacturers in the computing, telecommunications, aerospace and defense, automotive, consumer electronics, and industrial sectors in Asia, the Americas, and Europe.
According to the complaint, throughout the Class Period, defendants issued numerous statements describing the Company's financial performance and future prospects, which they attributed, in part, to success of the Company's restructuring activities and improvements in the Mexican and European operations. The complaint alleges that these statements were materially false and misleading when made because defendants failed to disclose and/or misrepresented the following adverse facts, among others: (i) that the Company was experiencing declining demand in its Mexican operations and that division was carrying significant amounts of unneeded inventory which would have to be written off; (ii) that the Company was experiencing declining demand in its Information Technology ("IT") and communications market segments as its larger customers scaled back purchases; and (iii) as a result of the foregoing, there was no reasonable basis to project adjusted earnings per share ranging from $0.12 to $0.20. When this undisclosed information later became public, shares of Celestica common stock declined.
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.
