The Law Firm of Lasky & Rifkind, Ltd. Announces Class Action Lawsuit Against TASER International Inc. Friday January 14, 9:07 am ET
NEW YORK--(BUSINESS WIRE)--Jan. 14, 2005--Lasky & Rifkind, Ltd., a law firm with offices in New York and Chicago, announces that a lawsuit has been filed in the United States District Court for the District of Arizona, on behalf of persons who purchased or otherwise acquired publicly traded securities of TASER International Inc. ("TASER" or the "Company") (NASDAQ:TASR - News) between November 4, 2004 and January 6, 2005, inclusive, (the "Class Period"). The lawsuit was filed against TASER and certain officers and directors ("Defendants"). If you are a member of this class and wish to view a copy of a complaint and join this class action, please e-mail us at firstname.lastname@example.org and request a copy of the complaint and a plaintiff certification. If you are a member of the Class, you may move the Court no later than March 11, 2005 to serve as a lead plaintiff for the Class. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. However, if you choose to remain an absent class member, unless and until a class is certified, you are not represented by counsel.
The complaint alleges that Defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. Specifically, the complaint alleges Defendants issued a series of materially false and misleading statements because they failed to disclose that contrary to Defendants' representations, studies conducted on the Company's TASER devices were inconclusive as to the safety of the devices, that the Company's revenues and earnings would be negatively impacted once the truth became known, that the "last minute" order of TASER devices the Company received from one of its distributors was done to help the Company meet sales goals.
On January 6, 2004, after the market closed, Defendants indicated that they had received a letter from the Securities & Exchange Commission announcing that the regulator had begun an informal inquiry regarding the Company's statements concerning the safety of its weapons as well as a recent order received from one of its distributors. Shares of TASER fell dramatically, shedding $4.90 per share, or 18% in very heavy trading.
If you bought TASER securities between November 4, 2004 and January 6, 2005, inclusive, and would like to obtain information about the lawsuit, then you are invited to call (800) 495-1868 to speak with an advisor.