| Company: | DG FastChannel, Inc |
| Ticker Symbol: | DGIT |
| Class Period: | Feb-16-10 to Aug-29-10 |
| Date Filed: | Sep-15-10 |
| Lead Plaintiff Deadline: | Nov-14-10 |
| Court: | -- |
| Allegations: | |
The Complaint alleges that the Company failed to disclose materially adverse conditions relating to a material shift in customer mix for the Company's Pathfire service. Defendants took advantage of the artificially inflated stock price. During the Class Period, Ginsburg sold approximately 1,085,484 shares for proceeds of approximately $40 million, and on April 8, 2010, the Company sold approximately $108 million in common stock in a public offering at a price of $31.50 per share.
The material facts adversely affecting the Company were disclosed on August 30, 2010, when DG FastChannel issued a press release disclosing these adverse conditions to the public. This caused shares of DG FastChannel to decline from a prior day close on August 29, 2010 of $24.54 per share, to close at $15.11 per share, a decline of $9.43 per share or approximately 38% on heavier than usual volume.
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.
