|
Last October, Nutrisystem (NTRI) represented that it was in
a high-growth mode and had a proven ability to identify and
penetrate new market segments. But while the Company was
representing it had a great future, its insiders were selling... not
buying. Specifically, in the last 6 months insiders sold approximately
317,000 shares and did not buy any stock. In November and
December 2006, there were numerous insider sales, including the
CEO and the CFO.
So, when on January 30, 2007, Nutrisystem disclosed its projected
earnings for the first quarter of 2007 were well below the expectations
of many analysts, it isn't surprising that its stock plummeted.
Specifically, its stock declined from $57.84 at the close on
January 29, 2007 to a close on January 31, 2007 of $44.05.
A drop of 24%. We are investigating and it appears that investors
who purchased between October 24, 2006 and January 29, 2007,
are affected.
Trouble at Globalstar Inc. (GSAT)
Globalstar (GAST) offers satellite services for mobile and satellite
telephones. On February 6, 2006, Globestar shares declined
approximately 25% on heavier than usual volume. This occurred
because, before the opening of the market, the Company disclosed
that many of its satellites are experiencing an anomaly resulting in
degraded performance of the amplifiers for satellite communications
antenna. The Company concluded that the rate of degradation of
the amplifiers has accelerated and unless remedied by 2008, the
Company will not be able to provide service.
More troubling, the Company also disclosed that, prior to the IPO,
it had learned that its satellites showed some signs of aging and
degraded performance of some components. However, the prospectus
did not disclose this fact.
Active Power and Backdated options
Active Power, Inc. (NASDAQ: ACPW) engages in the design,
manufacture, and marketing of battery-free power products that
provide electric power. On February 2, 2007, the Company disclosed
that preliminary findings showed that it had backdated certain option
grants and that it may restate certain financial statements. In addition,
the Company disclosed that its Chairman had resigned. It appears
that investors who purchased ACPW between April 18, 2002 and
February 1, 2007, are affected.
We are investigating the three situations discussed above and if you
are an affected investor in any of these cases or the other cases
listed below under investigation, you may wish to contact us at
info@securitiesleuth.com or 877 511 4717.
Other cases under investigation are:
Celestica, Inc. (NYSE: CLS)
Coast Financial Holdings, Inc. (NASDAQ: CFHI)
Hornbeck Offshore Services, Inc. (HOS)
LECG Corporation NASDAQ: (XPRT)
Thor Industries, Inc. (NYSE: THO)
Now with respect to securities cases that have recently settled. If
you are an affected investor - you purchased any of these stocks
during the relevant class period, you may wish to contact the claims
administrator to obtain additional information. Remember, if you
don't submit your claim form, you won't receive your share of
any settlement.
Wilbros Group, Inc. (WG)
Class Period: May 6, 2002 to May 16, 2005
Claims Deadline: February 28, 2007
Claims Administrator: Garden City
Krispy Crème Doughnuts (KKD)
Class Period: March 8, 2001 to April 18, 2005
Claims Deadline: March 5, 2007
Claims Administrator: Gilardi
Information regarding other recent settled cases, including the cases
listed below can be found at www.securitiessleuth.com.
Adelphia Communications (ADELQ)
Advanced Neuromodulation Systems, Inc. (ANSI)
Amerigroup Corp. (AGP)
Philip Services Corp. (PHV)
Again you should contact the claims administrator (rather than us).
However, if you are an affected investor in any of the companies
under investigation, you many wish to contact us so that you can
consider your options.
Likewise, if you happen to be aware of corporate restatements or
other financial fraud -- especially if you're a victim -- you're encouraged
to contribute to the Sleuth by giving your own tip-offs at
www.securitiessleuth.com or by e-mailing info@securitiessleuth.com.
You can also call Mark McNair at 877-511-4717. If you have a friend
or colleague you think would benefit from The Sleuth, please pass
along this issue and ask them to sign up at
www.cartville.com/app/join.asp?MerchantID=47994.
Warmest regards,
Mark McNair
|
