NEW YORK, Nov. 21, 2011 /PRNewswire/ -- Levi & Korsinsky is investigating potential claims on behalf of purchasers of the securities of Lydall, Inc. ("Lydall" or the "Company") (NYSE: LDL) concerning possible violations of federal securities laws.
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On November 8, 2011, shares of Lydall plummeted 20% after the company disclosed accounting errors that trimmed its second-quarter profit. The Company revealed for the first time that it had discovered and corrected certain prior period errors related to the accounting for U.S. income taxes associated with dividends from a foreign subsidiary. Upon evaluation, the Company determined that these errors were immaterial to each of the reporting periods affected. However, if the adjustments to correct the cumulative errors had been recorded in the quarter ended September 30, 2011, Lydall stated that it believes the impact would have been material to 2011.If you own Lydall stock and wish to obtain additional information about the investigation and your legal rights, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com/lydall-inc-ldl.html. Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 15th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972