Izard Nobel LLP Announces Class Action Lawsuit Against Emcore Corporation

• Press Release
• Source: Izard Nobel LLP
• On Wednesday January 7, 2009, 7:32 pm EST

HARTFORD, CT--(MARKET WIRE)--Jan 7, 2009 -- The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the District of New Mexico on behalf of those who purchased or otherwise acquired the common stock of Emcore Corporation (NasdaqGM:EMKR - News) ("Emcore" or the "Company") between June 12, 2007 and March 17, 2008, inclusive (the "Class Period").

Related Quotes

Symbol	Price	Change
EMKR	1.07	0.00

{"s" : "emkr","k" : "c10,l10,p20,t10","o" : "","j" : ""}

The Complaint charges that Emcore and certain of its officers and directors violated federal securities laws by issuing materially false and misleading statements concerning the Company's business and financial condition. Specifically, the Complaint alleges that Emcore's public statements regarding its order backlog were false and misleading because they overstated the value of the order backlog in Emcore's terrestrial solar energy division. Those misstatements and omissions, resulted in an artificially inflated price for Emcore's common stock during the Class Period.

On March 18, 2008, the price of Emcore's common stock dropped over 23% on news that Emcore's largest customer, Green and Gold Energy ("GGE"), which accounted for $78 million of Emcore's $86 million backlog in terrestrial solar technology, would not be able to afford those transactions.

If you are a member of the class, you may, no later than February 23, 2009, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.

While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, and your rights, visit: www.izardnobel.com/emcore/, or contact Izard Nobel LLP toll-free at (800) 797-5499, or by e-mail: firm@izardnobel.com. For more information about class action cases in general, please visit our website: www.izardnobel.com.

     CONTACT:
     Nancy A. Kulesa or Wayne Boulton
     (800) 797-5499
     http://www.izardnobel.com
     Email Contact