Shareholders File Lawsuit Against SafeNet, Inc. - Nasdaq: SFNT - KGS Announces Action
4 August 2006 Kahn Gauthier Swick, LLC ("KGS") announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of shareholders who purchased, exchanged or otherwise acquired the common stock and other securities of SafeNet, Inc. ("SafeNet" or the "Company") (NYSE: SFNT) between March 31, 2003 and May 18, 2006.
NO CLASS HAS YET BEEN CERTIFIED IN THIS ACTION AND, UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN AN ATTORNEY.
The action against SafeNet and certain of the Company's executive officers charges violations of federal securities laws. On July 26, 2006, the Company stated that it would be restating its earnings for the fourth quarter of 2002, that its year-ending 2002 financial statements are unreliable, and that future restatements may occur. SafeNet's accounting problems stem from the illegal backdating of stock options granted to senior management, which is the subject of ongoing investigations by the SEC and the United States Attorney for the Southern District of New York.
If you would like to discuss your legal rights, you may e-mail or call KGS, without obligation or cost to you. You may contact Managing Partner Lewis Kahn of KGS direct, toll free 1-866-467-1400, ext. 100, or 504-648-1850, or by email at lewis.kahn@kglg.com.
KGS ENCOURAGES INVESTORS TO ACT NOW, AS YOU HAVE ONLY UNTIL OCTOBER 2, 2006, TO MOVE THE COURT TO SERVE AS LEAD PLAINTIFF.
Contact: Lewis Kahn KGS toll free: 1-866-467-1400, ext. 100 504-648-1850 Email:lewis.kahn@kglg.com
SOURCE: Kahn Gauthier Swick, LLC
Source: marketwire
All trademarks and copyrighted information contained herein are the property of their respective owners.
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