The Law Firm of Goldman Scarlato & Karon, P.C. Announces Class Action Lawsuit against Wireless Facilities, Inc.
March 21 2007 - 10:32PM
Business Wire
Goldman Scarlato & Karon, P.C., a law firm with offices in
Pennsylvania and Ohio, announces that a lawsuit has been filed in
the United States District Court for the Southern District of
California, on behalf of persons who purchased or otherwise
acquired publicly traded securities of Wireless Facilities, Inc.
(�Wireless Facilities� or the �Company�) (NASDAQ: WFII) between
March 29, 2001 and March 12, 2007, inclusive, (the �Class Period�).
The lawsuit was filed against Wireless Facilities and certain
officers and directors (�Defendants�). If you are a member of this
class and wish to view a copy of a complaint and join this class
action, please e-mail us at info@gsk-law.com and request a copy of
the complaint and a plaintiff certification. If you are a member of
the Class, you may move the Court no later than May 18, 2007 to
serve as a lead plaintiff for the Class. 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. However, if you choose to remain an
absent class member, unless and until a class is certified, you are
not represented by counsel. The complaint alleges that Defendants
made false and misleading statements and ommissions regarding the
Company�s business, accounting practices and financial results.
Among other things, Defendants concealed Wireless Facilities�
longstanding and improper practice of backdating its stock option
awards to executive management. Defendants� improper grant of
backdated stock options violated the Company�s stock option plans,
as well as Generally Accepted Accounting Principles (�GAAP�). As a
result, Defendants informed shareholders on March 12, 2007, that
their financial statements for the fiscal years 2000 through 2006
were materially false and misleading. If you bought Wireless
Facilities securities between March 29, 2001 and March 12, 2007,
inclusive, and would like to obtain information about the lawsuit,
then you are invited to call (888) 668-4130 to speak with an
advisor.
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