Paskowitz & Associates Commences Class Action Lawsuit on Behalf of Rambus, Inc. Investors -- RMBS
23 July 2006 instead of the option being priced at the market price of the shares, it is priced at a lower price. The practice of manipulating stock option dates not only potentially lines the pockets of the executives, but here resulted in the overstatement of Rambus' earning between 2003 and 2005. Under accounting rules, back-dating the option is deemed the payment of additional compensation and must be accounted for as an expense, but Rambus did not properly account for the options granted. As a result, Rambus has been forced to restate its previously issued financial statements for the fiscal years 2003-2005. In addition, the Company has stated that the Quarterly Reports on Form 10-Q filed with respect to each of these fiscal years, and the financial statements included in the Company's Quarterly Report on Form 10-Q for the first quarter of fiscal year 2006, should no longer be relied upon, and will be restated.
If you purchased Rambus stock during the Class Period, you may qualify to serve as Lead Plaintiff on behalf of the Class, which consists of all persons and entities who purchased Rambus stock from January 14, 2004 through July 18, 2006. You are not required to have sold your Rambus stock in order to claim damages, or to serve in this role. All motions for appointment as Lead Plaintiff must be filed with the Court by September 18, 2006.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to this matter, please contact Laurence Paskowitz. Mr. Paskowitz will personally speak with you at no cost or obligation.
Contact: Paskowitz & Associates Laurence Paskowitz, Esq. (800) 705-9529
SOURCE: Paskowitz & Associates
Source: marketwire
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