| Company: | Helen of Troy, Ltd. |
| Ticker Symbol: | NASD: HELE |
| Class Period: | October 12, 2004, to October 10, 2005 |
| Date Filed: | Nov-22-05 |
| Lead Plaintiff Deadline: | Jan-23-06 |
| Court: | Western District, TX |
| Allegations: |
A class action lawsuit has been filed on behalf of all persons who purchased or otherwise acquired the securities of Helen of Troy, Ltd. ("Helen of Troy" or the "Company") (NASDAQ: HELE) between October 12, 2004, through October 10, 2005.
The action is pending in the United States District Court for the Western District of Texas, El Paso Division, against the Company, its Chief Executive Officer, Gerald J. Rubin, and its Chief Financial Officer, Thomas J. Benson. According to the complaint, defendants violated sections 10(b) and 20(a) of the Exchange Act, and Rule 10b-5, by issuing a series of material misrepresentations to the market during the Class Period.
The complaint alleges that Defendants engaged in a scheme to defraud shareholders through the issuance of positive earnings guidance intended to artificially inflate Company stock for which their was no legitimate support. Guidance for 2006 was announced as part of the fiscal third quarter of 2005 results, the inflation of which mislead the investing public. Immediately following this increase in the stock price to its class period high, Defendant Rubin sold almost 400,000 shares at its peak price of $33.00 per share- netting proceeds of almost $13 million on the improper guidance. On October 11, 2005, the Company substantially lowered its unattainable guidance for 2006 and reported a year over year decline in revenues during its second quarter. On this news, the stock lost 21%, falling to $15.55 per share on a volume of 4.4 million shares - more than 15 times its daily average.
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.
At LawyersandSettlements.com, it is our goal to keep you informed about important legal cases and settlements. We are dedicated to helping you resolve your legal complaints.
The complaint alleges that Defendants engaged in a scheme to defraud shareholders through the issuance of positive earnings guidance intended to artificially inflate Company stock for which their was no legitimate support. Guidance for 2006 was announced as part of the fiscal third quarter of 2005 results, the inflation of which mislead the investing public. Immediately following this increase in the stock price to its class period high, Defendant Rubin sold almost 400,000 shares at its peak price of $33.00 per share- netting proceeds of almost $13 million on the improper guidance. On October 11, 2005, the Company substantially lowered its unattainable guidance for 2006 and reported a year over year decline in revenues during its second quarter. On this news, the stock lost 21%, falling to $15.55 per share on a volume of 4.4 million shares - more than 15 times its daily average.
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.
Register your Securities Complaint
If you have suffered from financial losses, you may qualify for damages or remedies that may be awarded in a possible class action lawsuit. Please fill in our form on the right to submit your complaint and we will have a lawyer review your securities complaint.At LawyersandSettlements.com, it is our goal to keep you informed about important legal cases and settlements. We are dedicated to helping you resolve your legal complaints.
Stay Informed
Get the latest on class action lawsuits, settlements & more! Subscribe to our free weekly newsletter.
Get our Newsletter!
Submit a New Complaint
Been wronged by a similar product or service?
Click here to send us your complaint.
