Roy Jacobs and Associates Investigating FormFactor Inc. for Possible Securities Law Violations
NEW YORK, Oct 25, 2007 (PrimeNewswire via COMTEX News Network) -- Roy Jacobs & Associates announces that it is investigating possible securities and other legal violations regarding the announcement today by FormFactor Inc. ("FormFactor" or the "Company") (Nasdaq:FORM) that it is unable to complete its third quarter financial statements. The Company revealed that it may have to adjust inventory valuations for periods prior to the third quarter of 2007, which adjustments could affect inventory, gross margins, operating margin and net income for the affected periods. As a result of this announcement, which calls into question the validity of the Company's prior reported financial results, FORM shares are down approximately 17% on greatly increased trading volume. The price decline has wiped out over $300 million in shareholder value.
During the third quarter, Igor Khandros, the Company's chief executive, sold approximately 100,000 of his own shares at prices between $43 and $46 per share, and has received bonus compensation based on corporate performance.
If you: (i) currently hold FormFactor shares and expect to continue to hold them; or (ii) purchased FormFactor shares within the last two years and have experienced a decline in their value (or have sold them) as a result of today's announcement, and are interested in discussing your rights free of charge, please contact Roy L. Jacobs. Mr. Jacobs will speak with you personally at no cost or obligation.
This news release was distributed by PrimeNewswire
Fricking ambulance chasers, Where the hell were they when I got laid off and lost my unvested options???? If that isn't a crime I don't know what is. Let some so so news come out and the stock takes a crap sure as snot here come the lawyers. What next someone's dog has the craps all over the neighborhood, and some lawyer start a class action suit because of the trauma the neighbors had to endure cleaning the mess up.
I agree, these lawyers are scum. This suit is just a formality, it will amount to nothing. By the way would any lawyers like to chime in as to why you guys are such scum. I think ambulance chasers who ruin innocent people's lives should be disbarred and prosecuted......or shot.
You might want to google "Roy Jacobs & Associates" and you might gather that this law firm chases after any company that someone might be the slightest bit annoyed at in the hopes of getting together a class action lawsuit. But I'm sure they do this out of the goodness of their heart, and not to make money. Really.