Science & Technology
Science and Technology
Science and Technology
Fri, October 15, 2010
Thu, October 14, 2010
Glancy Binkow & Goldberg LLP, Representing Investors Who Purchased DynaVox, Inc., Announces Class Action Lawsuit and Seeks to R
LOS ANGELES--([ BUSINESS WIRE ])--Notice is hereby given that Glancy Binkow & Goldberg LLP has filed a class action lawsuit in the United States District Court for the Western District of Pennsylvania on behalf of a class (the aClassa) consisting of all persons or entities who purchased the securities of DynaVox, Inc. (aDynaVoxa or the aCompanya) (NASDAQ:DVOX) pursuant and/or traceable to the Registration Statement and Prospectus issued in connection with the Companya™s April 21, 2010, initial public offering (the aIPOa).
"the Company experienced a softening of demand for both its speech generating devices and software products. As a result, operating results for the fiscal first quarter will not be consistent with historical performance or indicative of what management believes to be the Companya™s long-term future operating potential."
A copy of the Complaint is available from the court or from Glancy Binkow & Goldberg LLP. Please contact us by phone to discuss this action or to obtain a copy of the Complaint at (310) 201-9150 or Toll Free at (888) 773-9224, by email at [ shareholders@glancylaw.com ], or visit our website at [ http://www.glancylaw.com ].
The Complaint charges DynaVox and certain of the Companya™s executive officers, among others, with violations of federal securities laws. DynaVox designs, manufactures, and distributes electronic and symbol-based augmentative communication equipment, software, and services. The Company offers speech generating technology and special education software solutions for individuals with speech, language, physical or learning disabilities. The Complaint alleges that defendants issued materially false and misleading statements concerning DynaVoxa™s business, operations and financial prospects. Specifically, defendants misrepresented and/or failed to disclose that: (1) the Company was experiencing a softening of demand for its speech generating devices and for its software products; and (2) as a result, the weak demand for the Companya™s products would cause DynaVoxa™s financial results to trend adversely compared to the trends included in the Registration Statement.
On September 30, 2010, DynaVox issued a press release commenting on the Companya™s first quarter fiscal 2011 results and disclosed that athe Company experienced a softening of demand for both its speech generating devices and software products. As a result, operating results for the fiscal first quarter will not be consistent with historical performance or indicative of what management believes to be the Companya™s long-term future operating potential.a
As a result of this news, shares of DynaVox declined $2.68 per share, or approximately 33%, to close on October 1, 2010 at $5.44 per share, on unusually heavy volume of more than 3.4 million shares traded.
Plaintiff seeks to recover damages on behalf of class members and is represented by Glancy Binkow & Goldberg LLP, a law firm with significant experience in prosecuting class actions, and substantial expertise in actions involving corporate fraud.
If you are a member of the Class described above, you may move the Court, no later than 60 days from the date of this Notice, to serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1801 Avenue of the Stars, Suite 311, Los Angeles, California 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224, by e-mail to [ shareholders@glancylaw.com ], or visit our website at [ http://www.glancylaw.com ].
