Science & Technology
Mon, March 14, 2011Fri, March 11, 2011Thu, March 10, 2011Wed, March 9, 2011Tue, March 8, 2011Mon, March 7, 2011Sun, March 6, 2011Sat, March 5, 2011Fri, March 4, 2011Thu, March 3, 2011Wed, March 2, 2011The Briscoe Law Firm Investigates Itron Inc. on Behalf of Shareholders for Possible Breaches of Fiduciary Duties by its Officer
Published in Science and Technology on Monday, March 7th 2011 at 20:40 GMT by Market Wire
DALLAS--([ BUSINESS WIRE ])--[ The Briscoe Law Firm, PLLC ], founded by a former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, and the securities litigation law firm of [ Powers Taylor, LLP ] are investigating potential legal claims against the officers and Board of Directors of Itron, Inc. (aItrona or aITRIa) (NASDAQ: ITRI) during the period of April 28, 2010 through February 16, 2011 (the aClass Perioda).
It has been alleged in a recently-filed complaint that during the Class Period, Itron and certain of its officers and directors made materially false and misleading statements related to Itrona™s business and operations in violation of the Securities Exchange Act of 1934. Specifically, it is claimed that the defendants failed to disclose: (1) that Itron improperly recognized revenue on a contract due to an extended warranty obligation; (2) that, as a result, Itrona™s revenue and financial results were overstated during the Class Period; (3) that Itrona™s financial results were not prepared in accordance with GAAP; (4) that the company lacked adequate internal and financial controls; and (5) that, as a result of the above, Itrona™s financial statements were materially false and misleading at all relevant times. On February 17, 2011, after Itron announced it was restating its financial results for the quarters ended March 31, June 30, and September 30, 2010, Itrona™s shares plummeted by $6.33 per share.
If you currently own or purchased Itron/ITRI shares and would like additional information regarding this investigation or if you have information regarding the allegations against the company, please contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at [ patrick@powerstaylor.com ], or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at [ WBriscoe@TheBriscoeLawFirm.com ]. There is no cost or fee to you.
The Briscoe Law Firm is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
