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56 Days Left - Kahn Swick & Foti, LLC and Partner, Former Louisiana Attorney General, Remind Investors With Large Financial Int

^{Published on 2011-05-27 09:01:07 - Market Wire}
 

NEW ORLEANS--([ BUSINESS WIRE ])--Kahn Swick & Foti, LLC (aKSFa) and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that only 56 days remain to file lead plaintiff applications in a securities fraud class action lawsuit against Logitech International SA (aLogitecha or the aCompanya) (Nasdaq: LOGI). The lawsuit was filed in the United States District Court for the Southern District of New York on behalf of purchasers of the common stock of Logitech between October 28, 2010 and April 1, 2011, inclusive (the aClass Perioda).

What You May Do

If you are a Logitech 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, 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 request this position by application to the Court by July 22, 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 also encourages anyone with information regarding Logitecha™s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.

About the Lawsuit

The complaint charges Logitech and certain of its officers and executives with violations of the Securities Exchange Act of 1934. On March 31, 2011, after the close of the market, Logitech issued a press release announcing that it had alowered its full-year outlook for Fiscal Year 2011, ending March 31, 2011. The company now expects FY 2011 sales in the range of $2.35 to $2.37 billion, down from the previous range of $2.4 to $2.42 billion. FY 2011 operating income is now expected to be in the range of $140 to $150 million, down from the previous range of $170 to $180 million.a In response to this announcement, on April 1, 2011, the price of Logitech stock declined from $18.13 per share to $14.71 per share, or 19%, on extremely heavy trading volume.

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 BP 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 ].