Brower Piven Encourages Investors Who Have Losses in Excess of $200,000 From Investment in Ambassadors Group, Inc. to Inquire Ab
July 21 2009 - 5:05PM
Marketwired
Brower Piven, A Professional Corporation announces that a class
action lawsuit has been commenced in the United States District
Court for the Eastern District of Washington on behalf of
purchasers of the common stock of Ambassadors Group, Inc.
("Ambassadors Group" or the "Company") (NASDAQ: EPAX) during the
period between February 8, 2007 and October 23, 2007, inclusive
(the "Class Period").
No class has yet been certified in the above action. Members of
the Class will be represented by the lead plaintiff and counsel
chosen by the lead plaintiff. If you wish to choose counsel to
represent you and the Class, you must apply to be appointed lead
plaintiff no later than September 14, 2009 and be selected by the
Court. The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a
settlement and how much of a settlement to accept for the Class in
the action. The lead plaintiff will be selected from among
applicants claiming the largest loss from investment in the Company
during the Class Period. You may contact Brower Piven (through
hoffman@browerpiven.com or 410/986-0036) to answer any questions
you may have in that regard.
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by virtue of the Company's failure
to disclose during the Class Period that the Company was
experiencing a lower conversion rate from people attending its
informational meetings to booking travel; that there was a decrease
in the number of enrolled participants for the Company's 2008
travel programs, especially in its international outbound programs;
that the Company had utilized a different database in order to
promote its travel programs to prospective clients; and, as a
result of the foregoing, that defendants lacked a reasonable basis
for their positive statements about the Company and its prospects.
According to the complaint, on October 22, 2007, after the Company
announced its financial results for the third quarter of 2007, the
period ending September 30, 2007, and that that "as of October 16,
2007, its net enrolled participants for 2008 travel programs were
26,200 compared to 37,300 participants as of the same date last
year for its 2007 programs" and that the "decrease in net
enrollments for its 2008 programs will negatively impact its 2008
earnings," the value of Ambassadors Group's stock declined
significantly.
If you have suffered a net loss for all transactions in
Ambassadors Group, Inc. common stock during the Class Period, you
may obtain additional information about this lawsuit and your
ability to become a lead plaintiff by contacting Brower Piven at
www.browerpiven.com, by email at hoffman@browerpiven.com, by
calling 410-986-0036, or at Brower Piven, A Professional
Corporation, The World Trade Center-Baltimore, 401 East Pratt
Street, Suite 2525, Baltimore, Maryland 21202. Attorneys at Brower
Piven have combined experience litigating securities and class
action cases of over 40 years. If you choose to retain counsel, you
may retain Brower Piven without financial obligation or cost to
you, or you may retain other counsel of your choice. You need take
no action at this time to be a member of the class.
CONTACT: Charles J. Piven Brower Piven, A Professional
Corporation Baltimore, Maryland 410/986-0036 Email Contact
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