Holzer Holzer & Fistel, LLC Announces That It Has Filed a Shareholder Class Action Against Cadence Design Systems, Inc. (NASDAQ:
November 03 2008 - 12:25PM
Marketwired
Holzer Holzer & Fistel, LLC announces that it has filed a class
action lawsuit in the United States District Court for the Northern
District of California on behalf of all purchasers of Cadence
Design Systems, Inc. ("Cadence" or the "Company") (NASDAQ: CDNS)
common stock during the period between April 23, 2008 and October
22, 2008 (the "Class Period").
The complaint charges Cadence and certain of its current and
former officers with violations of the Securities Exchange Act of
1934. During the Class Period, the Complaint alleges that
defendants misrepresented Cadence's financial performance and
prospects, overstated its revenues, and caused it to file false and
misleading financial statements with the SEC. More specifically,
defendants allegedly caused Cadence to improperly report
approximately $24 million in revenue in the first quarter of 2008
and in the six months ended June 28, 2008 that will not be earned
until the later quarters and, therefore, should be properly
recognized ratably over the duration of the customer contracts.
If you are a purchaser of Cadence common stock during the Class
Period, you have the legal right to petition the Court to be
appointed a "lead plaintiff." A lead plaintiff is a representative
party that acts on behalf of other class members in directing the
litigation. Any such request must satisfy certain criteria and be
made on or before December 29, 2008. Any member of the purported
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. If you are a Cadence investor and would like to
discuss a potential lead plaintiff appointment, or your rights and
interests with respect to the lawsuit, you may contact Michael I.
Fistel, Jr., Esq., or Marshall P. Dees, Esq. via email at
mfistel@holzerlaw.com, or mdees@holzerlaw.com, or via toll-free
telephone at (888) 508-6832.
Holzer Holzer & Fistel, LLC is an Atlanta, Georgia law firm
that dedicates its practice to vigorous representation of
shareholders and investors in litigation nationwide, including
shareholder class action and derivative litigation. More
information about the firm is available through its website,
www.holzerlaw.com and upon request from the firm.
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