N@N

12 Days Left - Kahn Swick & Foti, LLC and Former Louisiana State Attorney General Remind Investors With Large Financial Interes

^{Published on 2011-02-23 08:55:30 - Market Wire}
 

NEW ORLEANS--([ BUSINESS WIRE ])--Kahn Swick & Foti, LLC ("KSF") and its partner, the former Louisiana Attorney General Charles C. Foti, Jr. remind investors that only twelve days remain to file lead plaintiff applications in a securities class action lawsuit in the United States District Court for the Eastern District of North Carolina on behalf of purchasers of the common stock of Tekelec (aTekeleca or the aCompanya) (Nasdaq: TKLC) between February 11, 2010 and August 5, 2010, inclusive (the aClass Perioda), seeking to pursue remedies under the Securities Exchange Act of 1934 (the aExchange Acta).

What You May Do

If you are a Tekelec shareholder and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, e-mail or call KSF Managing Partner, Lewis Kahn ([ lewis.kahn@ksfcounsel.com ]), toll free 1-877-515-1850, or via cell phone any time at 504-301-7900, or KSF Director of Client Relations, Neil Rothstein, Esq. ([ neil.rothstein@ksfcounsel.com ]), toll free at 877-694-9510, or via cell phone any time at 330-860-4092. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must act urgently and contact the firm now so you have time to request this position by application to the Court by March 7, 2011. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. KSF encourages both institutional and individual purchasers of Tekelec to contact the firm. The ultimate resolution of any securities class action is strengthened through the involvement of aggrieved shareholders and lead plaintiffs who have large financial interests. KSF also encourages anyone with information regarding Tekeleca™s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.

About the Lawsuit

The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by issuing materially false and misleading statements. The complaint alleges that Tekelec failed to disclose during the Class Period material adverse facts about the Companya™s business prospects, including problems with fulfilling orders, credit issues, and declines in new orders.

On August 5, 2010, Tekelec announced its operating results for the quarter ending June 30, 2010. Shares of the Companya™s common stock fell more than 9% on significant volume. Thereafter, shares have further declined - falling 16% on February 10, 2011 - after the Company reported lower than expected fourth-quarter results, along with a lower forecast for full year 2011.

About Kahn Swick & Foti, LLC

KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities class action and shareholder derivative litigation with offices in New York and Louisiana. KSF's lawyers have significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders. Recent cases include In re Virgin Mobile USA IPO Litigation,2:07-cv-05619-SDW-MCA (D. N.J.), Co-Lead Counsel, $19.5 Million Settlement; In re BigBand Networks, Inc Securities Litigation,3:07-CV-05101-SBA (C.D. Cal.),Co-Lead Counsel, $11 million settlement; In re U.S. Auto Parts Networks, Inc. Securities Litigation,2:07-cv-02030-GW-JC (C.D. Cal.),Lead Counsel, $10 million settlement. KSF is also federally court-appointed Co-Lead Counsel in THE shareholder derivative cases against AIG and Bank of America (Merrill Lynch merger) emanating from their recent multi-billion dollar economic declines.

To learn more about KSF, you may visit[ www.ksfcounsel.com ].