GSI Group GSIG Securities Fraud

December 15 2008 - by Lucy Campbell

Company:	GSI Group
Ticker Symbol:	GSIG
Class Period:	Apr-30-08 to Dec-3-08
Date Filed:	Dec-12-08
Lead Plaintiff Deadline:	Feb-10-09
Court:	District ofMassachusetts
Allegations:

On December 12, a class action lawsuit was filed in the United States District Court for the District of Massachusetts against GSI Group Inc. ("GSI Group") (NASDAQ: GSIG) and certain of its officers on behalf of a Class of all persons who purchased or otherwise acquired the securities of GSI Group between April 30, 2008 and December 3, 2008, inclusive (the "Class Period"). The lawsuit alleges that defendants violated the anti-fraud provisions of the federal securities laws.

According to the complaint, GSI Group supplies precision technology to medical, electronics and industrial markets. Throughout the Class Period, the complaint alleges, defendants' public statements were false and misleading or failed to disclose or indicate the following: (1) that GSI Group improperly recognized revenue; (2) that GSI Group misstated its financial results during the Class Period; (3) that GSI Group's financial results were not prepared in accordance with Generally Accepted Accounting Principles; (4) that GSI Group lacked adequate internal and financial controls; and (5) as a result, GSI Group's financial statements were materially false and misleading. According to the complaint, when GSI Group announced on December 4, 2008, that it would restate its financial statements, its stock declined $0.28 per share, or 29%, to close at $0.68per share.

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.

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