Finkelstein Thompson LLP Announces Investigation Of ModusLink Global Solutions, Inc.
Washington, D.C. shareholder law firm Finkelstein Thompson LLP is investigating potential legal claims on behalf of shareholders of ModusLink Global Solutions, Inc. (“ModusLink” or the “Company”) (NASDAQ: MLNK). If you are interested in discussing your rights as a ModusLink shareholder, or have information relating to this investigation, please contact Finkelstein Thompson's Washington, DC offices at (877) 337-1050 or by email at contact@finkelsteinthompson.com.
On June 11, 2012, ModusLink announced that retirement of its President and CEO, Joseph Lawler, as well as his resignation from the Company’s Board of Directors. On the same day, it announced that it would revise its financial statements dating back to 2007, and that these statements could no longer be relied on. The decision resulted from an internal investigation, prompted by an SEC inquiry regarding the Company's treatment of rebates associated with volume discounts provided by vendors. The investigation concluded “certain client contracts have not been aligned consistently with the Company's practice of retaining volume discounts. In the course of this investigation, the audit committee also identified limited instances where vendor costs incurred were marked-up to clients in a manner not consistent with client contracts.” The announcement concluded that certain proceeds from the discounts and mark-ups may have been incorrectly accounted for as revenue.
ModusLink’s share price fell over 30% in reaction to the news.
Finkelstein Thompson LLP has spent over three decades delivering
outstanding representation to institutional and individual clients in
financial litigation. Courts have appointed the firm as lead or co-lead
counsel in dozens of shareholder class actions. Indeed, the firm has
served in leadership roles in cases that have recovered over $1 billion
for investors and consumers. To learn more about Finkelstein Thompson
LLP, please visit our web site at
www.finkelsteinthompson.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim 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
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
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
Stocks Under $10
TRY IT FREEDavid 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
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll 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 + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur 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
