Izard Nobel LLP Announces Class Action Lawsuit Against Ambassadors Group, Inc.
July 17 2009 - 3:16PM
Marketwired
The law firm of Izard Nobel LLP, which has significant experience
representing investors in prosecuting claims of securities fraud,
announces that a lawsuit seeking class action status has been filed
in the United States District Court for the Eastern District of
Washington on behalf of those who purchased the common stock of
Ambassadors Group, Inc. ("Ambassadors Group" or the "Company")
(NASDAQ: EPAX) between February 8, 2007 and October 23, 2007,
inclusive (the "Class Period").
The Complaint charges that Ambassadors Group and certain of its
officers and directors violated federal securities laws.
Specifically, defendants misrepresented and/or failed to disclose
the following adverse facts: (i) the Company was experiencing a
lower conversion rate from people attending its informational
meetings to booking travel; (ii) that there was a decrease in the
number of enrolled participants for the Company's 2008 travel
programs, especially in its international outbound programs; (iii)
that the Company had utilized a different database in order to
promote its travel programs to prospective clients; and (iv) as a
result of the foregoing, defendants lacked a reasonable basis for
their positive statements about the Company and its prospects. As a
result of defendants' false and misleading statements, Ambassadors
Group stock traded at artificially inflated prices during the Class
Period, reaching a high of $40.99 per share on October 18,
2007.
If you are a member of the class, you may, no later than
September 14, 2009, request that the Court appoint you as lead
plaintiff of the class. A lead plaintiff is a class member that
acts on behalf of other class members in directing the litigation.
Although your ability to share in any recovery is not affected by
the decision whether or not to seek appointment as a lead
plaintiff, lead plaintiffs make important decisions which could
affect the overall recovery for class members.
While Izard Nobel LLP has not filed a lawsuit against the
defendants, to view a copy of the Complaint initiating the class
action or for more information about the case, and your rights,
visit: www.izardnobel.com/ambassadorsgroup/, or contact Izard Nobel
LLP toll-free at (800) 797-5499, or by e-mail: firm@izardnobel.com.
For more information about class action cases in general, please
visit our website: www.izardnobel.com.
CONTACT: Nancy A. Kulesa or Wayne Boulton (800) 797-5499
www.izardnobel.com Email Contact
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