| Company: | Cross Country Healthcare, Inc. |
| Ticker Symbol: | NASD: CCRN |
| Class Period: | October 25, 2001 to August 6, 2002 |
| Date Filed: | Aug-06-04 |
| Lead Plaintiff Deadline: | Oct-05-04 |
| Court: | Southern District, FL |
| Allegations: |
A securities class action was commenced on behalf of shareholders who purchased, converted, exchanged or otherwise acquired the common stock of Cross Country Healthcare, Inc.
(Nasdaq:CCRN) between October 25, 2001 and August 6, 2002, inclusive (the "Class Period").
The case is pending in the United States District Court for the Southern District of Florida against defendant Cross Country and certain of the Company's executive officers. The Complaint charges Cross Country and certain of the Company's executive officers with violations of federal securities laws. Plaintiff claims that defendants' omissions and material misrepresentations concerning Cross Country's business operations and prospects artificially inflated the Company's stock price, inflicting damages on investors. Cross Country provides healthcare staffing services to hospitals, pharmaceutical companies and other healthcare providers across all 50 states. The complaint alleges that defendants knew or recklessly disregarded that: (1) contrary to defendants' upbeat statements, hospitals actually were hiring fewer of the Company's nurses; (2) the nursing shortage, which the Company previously had touted as creating a favorable business environment, was no longer creating the demand for temporary nurses that Cross Country represented to the investing public; and (3) Cross Country had problems with staffing orders being received from hospitals and then abruptly canceled -- a problem which also hurt the Company's stock and spread to the rest of the industry, but which defendants never disclosed to the investing public.
On August 7, 2002, following news of the decline in demand and a drop in the number of the Company's full-time nurses, Cross Country shares fell below the Company's IPO price for the first time in its history, closing 45% below the previous day's close.
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 Southern District of Florida against defendant Cross Country and certain of the Company's executive officers. The Complaint charges Cross Country and certain of the Company's executive officers with violations of federal securities laws. Plaintiff claims that defendants' omissions and material misrepresentations concerning Cross Country's business operations and prospects artificially inflated the Company's stock price, inflicting damages on investors. Cross Country provides healthcare staffing services to hospitals, pharmaceutical companies and other healthcare providers across all 50 states. The complaint alleges that defendants knew or recklessly disregarded that: (1) contrary to defendants' upbeat statements, hospitals actually were hiring fewer of the Company's nurses; (2) the nursing shortage, which the Company previously had touted as creating a favorable business environment, was no longer creating the demand for temporary nurses that Cross Country represented to the investing public; and (3) Cross Country had problems with staffing orders being received from hospitals and then abruptly canceled -- a problem which also hurt the Company's stock and spread to the rest of the industry, but which defendants never disclosed to the investing public.
On August 7, 2002, following news of the decline in demand and a drop in the number of the Company's full-time nurses, Cross Country shares fell below the Company's IPO price for the first time in its history, closing 45% below the previous day's close.
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.
