Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From Investment in PharmaNet Development Group, Inc. to
November 26 2008 - 1:04PM
Marketwired
Brower Piven, A Professional Corporation announces that a class
action lawsuit has been commenced in the United States District
Court for the District of New Jersey on behalf of purchasers of the
common stock of PharmaNet Development Group, Inc. ("PharmaNet" or
the "Company") (NASDAQ: PDGI) during the period between November 1,
2007 and April 30, 2008, 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 January 20, 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's backlog
contained numerous contracts which they knew or should have known
were at significant risk of being cancelled such that the
defendants lacked a reasonable basis for their positive statements
about the Company, its business, backlog and earnings guidance.
According to the complaint, after the Company disclosed, on April
30, 2008, its financial results for the first quarter of 2008, the
value of PharmaNet's stock declined significantly.
If you have suffered a net loss for all transactions in
PharmaNet Development 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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