LEAPFROG SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Reminds Investors with Losses in Exce...
February 06 2015 - 9:00PM
Business Wire
Kahn Swick & Foti, LLC (“KSF”) and KSF partner, the former
Attorney General of Louisiana, Charles C. Foti, Jr., remind
investors that they have until March 24, 2015 to file lead
plaintiff applications in a securities class action lawsuit against
LeapFrog Enterprises Inc. (NYSE: LF) if they purchased the
Company’s securities between May 5, 2014 through January 22, 2015,
inclusive (the “Class Period”). This action is pending in the
United States District Court for the Northern District of
California.
What You May Do
If you purchased shares of LeapFrog and would like to discuss
your legal rights and how this case might affect you and your right
to recover for your economic loss, you may, without obligation or
cost to you, call toll-free at 1-877-515-1850 or email KSF Managing
Partner Lewis Kahn (lewis.kahn@ksfcounsel.com). If you wish to serve
as a lead plaintiff in this class action, you must petition the
Court by March 24, 2015.
About the Lawsuit
LeapFrog and certain of its executives are charged with failing
to disclose material information during the Class Period, violating
federal securities laws.
These false statements and omissions included, in part, that:
(i) LeapFrog was experiencing a decline in consumer demand; (ii)
the launch and shipment of LeapFrog’s new LeapTV video game system
were delayed by developmental issues; (iii) retailers were
overstocked with LeapFrog’s LeapPad products; (iv) as a result,
LeapFrog lacked a reasonable basis for its financial guidance; and
(v), as a result of the foregoing, LeapFrog’s statements were
materially false and misleading at all relevant times.
On January 22, 2015, LeapFrog announced its preliminary
financial results for the third quarter of 2014 that were
significantly below the Company’s stated expectations and financial
guidance. On this news, the price of LeapFrog’s stock plummeted by
almost 35%.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former
Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers
with significant experience litigating complex securities class
actions nationwide on behalf of both institutional and individual
shareholders, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLCLewis Kahn, Managing Partner,
877-515-1850lewis.kahn@ksfcounsel.com
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