This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Abraham, Fruchter & Twersky, LLP Announces Class Action Lawsuit Against DG FastChannel, Inc.

Abraham, Fruchter & Twersky, LLP announces that a class action law suit has been filed on behalf of purchasers of DG FastChannel, Inc. (“DG FastChannel” or the “Company”) (NASDAQ:DGIT) stock between February 16, 2010 through August 29, 2010 (the “Class Period”), including purchasers of the Company’s April 8, 2010 public offering of common stock.

The Complaint alleges that the Company failed to disclose materially adverse conditions relating to a material shift in customer mix for the Company's Pathfire service. Defendants took advantage of the artificially inflated stock price. During the Class Period, Ginsburg sold approximately 1,085,484 shares for proceeds of approximately $40 million, and on April 8, 2010, the Company sold approximately $108 million in common stock in a public offering at a price of $31.50 per share.

The material facts adversely affecting the Company were disclosed on August 30, 2010, when DG FastChannel issued a press release disclosing these adverse conditions to the public. This caused shares of DG FastChannel to decline from a prior day close on August 29, 2010 of $24.54 per share, to close at $15.11 per share, a decline of $9.43 per share or approximately 38% on heavier than usual volume.

If you purchased DG FastChannel common stock during the Class Period of February 16, 2009 through August 29, 2010, and you wish to serve as lead plaintiff in this action, you must move the Court no later than November 12, 2010. Any member of the proposed class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain a member of the proposed class.

If you would like to discuss this action or if you have any questions concerning this notice or your rights as a potential class member or lead plaintiff, you may contact: Jack G. Fruchter or Arthur J. Chen of Abraham, Fruchter & Twersky, LLP at (800) 440-8986, or via e-mail at info@aftlaw.com or achen@aftlaw.com.

Abraham, Fruchter & Twersky, LLP has extensive experience prosecuting securities class action cases, and the firm has been ranked among the leading class action law firms in terms of recoveries achieved by a survey of class action law firms conducted by Institutional Shareholder Services.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
DGIT $12.07 -0.33%
AAPL $113.29 0.33%
FB $91.01 1.43%
GOOG $630.38 -1.13%
TSLA $248.48 2.26%

Markets

Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs