Investor Notice: Former Attorney General of Louisiana and KSF Announces Investigation On Behalf of Investors in Huron Consulting Group Inc., Following Massive Restatement; Departure of CEO, CFO

• Press Release
• Source: Kahn Swick & Foti, LLC
• On 12:25 pm EDT, Saturday August 1, 2009

NEW ORLEANS, Aug. 1, 2009 (GLOBE NEWSWIRE) -- Former LA Attorney General, Charles Foti, and New Orleans-based law firm, Kahn Swick & Foti, LLC, announces that it has commenced an investigation into Huron Consulting Group Inc. ("Huron" or the "Company") (Nasdaq:HURN - News) to determine whether it has violated federal securities laws by issuing false and misleading statements to its shareholders following the departure of its CEO and CFO and its Restatement of 3 years of financial results.

On July 31, 2009, after the close of trading, Huron shares plummeted almost 60%, or $25.00 each after the company announced its entire top management team was departing and that it would be forced to restate more than three years of reported financial results -- slashing its profits by almost half. The investigation launched by KSF focuses on, among other things, the timing of the sale of millions in Company stock by company insiders as well as what has been reported in the press as an "accounting scandal." Remarkably, Huron's website says the company helps its clients "comply with complex regulations."

According to the Company, Huron replaced Chairman and CEO Gary Holdren, as well as Chief Financial Officer Gary Burge and Chief Accounting Officer Wayne Lipski will be leaving the company. The restatements significantly raise the Chicago-based company's costs for 2006-2008 and for the first quarter of this year. As a result aggregate net profit for that period dropped to just $63 million from $120 million. In 2008 alone, Huron's earnings were slashed by more than three-quarters to only $10 million from $41 million.

Moreover, the restatements are being made because Huron's board audit committee discovered that shareholders of four businesses that Huron acquired between 2005-2007 redistributed portions of their acquisition-related payments among themselves and to certain Huron employees. As a result, these payments are required to be classified as non-cash compensation expenses under U.S. accounting rules.

If you have information that might assist KSF in its investigation or would like to discuss your legal rights, you may e-mail or call KSF, without obligation or cost to you. You may contact Managing Partner Lewis Kahn of KSF today via cell phone at 504-301-7900, or during work hours, direct, toll free 1-866-467-1400, ext. 100, or by email at lewis.kahn@ksfcounsel.com. KSF focuses its practice on securities fraud litigation, and the firm's lawyers have significant experience working on securities fraud cases that have resulted in significant recoveries for shareholders. For more information on KSF, please visit www.ksfcounsel.com.

Kahn Swick & Foti, LLC
Lewis Kahn
Cell: 504-301-7900
1-866-467-1400, ext. 100
lewis.kahn@ksfcounsel.com
650 Poydras St., Suite 2150
New Orleans, LA 70130