| Company: | Reynolds and Reynolds Company |
| Ticker Symbol: | NYSE: REY |
| Class Period: | January 22, 2003 to June 24, 2004 |
| Date Filed: | Jul-22-04 |
| Lead Plaintiff Deadline: | Sep-20-04 |
| Court: | Southern District, OH |
| Allegations: |
A securities class action has been commenced on behalf of shareholders who acquired The Reynolds and Reynolds Company (NYSE: REY) securities between January 22, 2003 and June 24, 2004, inclusive (the Class Period).
The case is pending in the United States District Court for the Southern District of Ohio, against the company and certain key officers and directors.
The action charges that defendants violated the federal securities laws by issuing a series of materially false and misleading statements to the market throughout the Class Period which statements had the effect of artificially inflating the market price of the Company's securities.
The suit claims the defendants concealed that market demand for Reynolds products was lackluster, and the company was forced to spend additional resources to pitch new products while neglecting its staple, revenue-producing products, the law firm said. The lawsuit was filed for shareholders of record from Jan. 22, 2003 through June 24 this year.
On July 7, Reynolds reported that Waterhouse resigned. The company forecast a lower third-quarter outlook in late June.
In a company release, a Reynolds spokesman stated: "To the extent the complaint allegations parallel those of the press release, we deny that they have any merit and we will defend against the suit vigorously."
Reynolds shares closed up 14 cents at $21.89 on the New York Stock Exchange.
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 Ohio, against the company and certain key officers and directors.
The action charges that defendants violated the federal securities laws by issuing a series of materially false and misleading statements to the market throughout the Class Period which statements had the effect of artificially inflating the market price of the Company's securities.
The suit claims the defendants concealed that market demand for Reynolds products was lackluster, and the company was forced to spend additional resources to pitch new products while neglecting its staple, revenue-producing products, the law firm said. The lawsuit was filed for shareholders of record from Jan. 22, 2003 through June 24 this year.
On July 7, Reynolds reported that Waterhouse resigned. The company forecast a lower third-quarter outlook in late June.
In a company release, a Reynolds spokesman stated: "To the extent the complaint allegations parallel those of the press release, we deny that they have any merit and we will defend against the suit vigorously."
Reynolds shares closed up 14 cents at $21.89 on the New York Stock Exchange.
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.
