This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Robbins Umeda LLP Announces The Commencement Of A Class Action Lawsuit Against CIBER, Inc.

Stocks in this article: CBR

SAN DIEGO, Nov. 1, 2011 /PRNewswire/ -- Robbins Umeda LLP announces that the firm commenced a class action lawsuit on October 28, 2011, in the U.S. District Court for the District of Colorado on behalf of all persons or entities who purchased or otherwise acquired the securities of CIBER, Inc. ("CIBER" or the "Company") (NYSE: CBR) between December 15, 2010 and August 3, 2011 (the "Class Period").  The action is against the Company and certain of the Company's officers for violations of the Securities Exchange Act of 1934.  


CIBER purports to be a global information technology consulting, services, and outsourcing company applying practical innovation through services and solutions that deliver tangible results for both commercial and government clients.   CIBER is a Delaware corporation with principal executive offices located in Greenwood Village, Colorado.  

The complaint alleges that beginning on December 15, 2010, the Company, along with certain officers at CIBER, issued a series of materially false and misleading statements to investors designed to deceive the market and cause shares of CIBER to trade at artificially high prices.

In particular, the complaint alleges that officials at the Company failed to disclose to investors material adverse facts that: (1) CIBER lacked the operational discipline, process, and controls to properly evaluate the financial impact of its legacy contracts and the performance of its North American operations and, as such, had no basis to make positive statements about the Company's financial health and future growth; (2) CIBER could not achieve its reported business outlook and aggressive guidance due to the fact that unprofitable legacy fixed-price contracts would drag down the Company's revenue and earnings; and (3) the Company's declining sales in its North American division would continue throughout the 2011 transitional period and adversely affect the Company's 2011 financial results.  

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,574.57 +217.70 1.25%
S&P 500 2,034.30 +21.41 1.06%
NASDAQ 4,697.1520 +52.84 1.14%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs