Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the District of Massachusetts on behalf of all persons or entities that purchased the common stock of ModusLink Global Solutions, Inc. (“ModusLink” or the “Company”) (NASDAQ GS: MLNK) between September 26, 2007 and June 8, 2012, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
If you purchased shares of ModusLink during the Class Period, or purchased shares prior to the Class Period and still hold ModusLink, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, NY at (888) 969-4242, by e-mail to firstname.lastname@example.org, or at: http://www.rigrodskylong.com/investigations/moduslink-global-solutions-inc-mlnk.
ModusLink, a Delaware corporation headquartered in Waltham, Massachusetts, through its subsidiaries, is a leader in global supple chain business process management serving technology-based clients in the computing, software, consumer electronics, storage and communications markets. The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects. Specifically, the Complaint alleges that the Defendants failed to disclose: (i) that the Company’s accounting for rebates associated with volume discounts provided by vendors was improper and misleading; (ii) that the Company’s financial statements during the Class Period did not provide a fair representation of the Company’s finances and operations; (iii) that, as a result, the Company’s financial results were not prepared in accordance with Generally Accepted Accounting Principles (“GAAP”); (iv) that the Company lacked adequate internal and financial controls; and (v) that, as a result of the above, the Company’s financial statements were materially false and misleading at all relevant times. As a result of defendants’ false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.