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Milberg LLP announces that a class action lawsuit was filed in the United States District Court for the District of Massachusetts on behalf of purchasers of ModusLink Global Solutions, Inc. (NASDAQ:MLNK) (“ModusLink” or the “Company”) common stock between September 26, 2007 through June 8, 2012, inclusive (the "Class Period").
Milberg LLP has created a website (
http://www.ModusLinkLawsuit.com) that seeks to answer common questions about shareholder class actions.
The complaint claims ModusLink misled investors because it failed to disclose that the Company’s accounting for rebates was improper.
On June 11, 2012, ModusLink announced that it will restate financial results going back to 2007 and that its Audit Committee investigation found that certain client contracts were consistently misaligned with the Company’s practice of retaining volume discounts.
Shares of ModusLink fell 34.47% in reaction to the news.
ModusLink also said the Securities and Exchange Commission had launched an inquiry into these matters, and that its Chief Executive Officer, Joseph C. Lawler, resigned from his position.
If you purchased ModusLink shares during the Class Period you may, no later than August 13, 2012, request that the Court appoint you lead plaintiff of the proposed class. A lead plaintiff is a class member that represents other class members in directing the litigation. Your share in any recovery will not be affected by serving as a lead plaintiff, however, lead plaintiffs make important decisions that could affect the overall recovery for class members. You do not need to be a lead plaintiff to recover. You may retain Milberg LLP, or other attorneys, for this action, but do not need to retain counsel to recover. If this action is certified as a class action, class members will be automatically represented by Court-appointed counsel. The complaint in this action was not filed by Milberg.
Milberg LLP has represented individual and institutional investors for over four decades and serves as lead counsel in Courts throughout the United States. Visit the Milberg website (
www.milberg.com) for more information about the firm. If you wish to discuss this matter with us, please contact the following attorneys:
Andrei Rado, Esq.Milberg LLPOne Pennsylvania Plaza, 49th Fl.New York, NY 10119-0165Phone number: 800-320-5081Email:
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