Is there some type of surgery that will correct accounting irregularities?
Perhaps, but such surgery isn’t offered by LCA-Vision Inc. (NASDAQ: LCAV). The Company provides laser vision correction
under the LasikPlus brand. On April 18, 2007, the Company disclosed
that it would restate financial results dating back to 2004 which will
reduce net income and revenue from 2006, due to accounting discrepancies. The Company indicated that the discrepancy was
related to the way it accounted for revenue from the separately priced,
extended warranties that it offers patients.
Investors who purchased LCA shares between April 27, 2004 and
April 18, 2007 may have been affected.
Gaming Partners International Corp. (NASDAQ: GPIC) Report
Accounting Deficiencies
Gaming Partners International Corp. (NASDAQ: GPIC) engages in
the manufacture and supply of casino table game equipment to
casinos worldwide. On March 28, 2007, the Company disclosed that it
was delaying the filing of its full-year 2006 report due to deficiencies
in accounting control procedures. The Company stated that the deficiencies were discovered while its year-end financial statements
were being prepared. The Company also disclosed that it expects to identify certain of these deficiencies as material weakness when
the report is filed and that it is working to resolve and remedy them.
Investors who purchased Gaming Partners between May 15, 2006 and March 28, 2007 may have been affected.
Stunned Cutera, Inc. (NASDAQ: CUTR) Investors
Great expectations followed by unpleasant surprises appears to be story for investors in Cutera, Inc. (NASDAQ: CUTR). So what happened?
On January 31, 2007, the Company asserted that positive factors would lead to a 25% revenue growth for the first quarter of 2007 and
for the full year and 33% growth in net income for the first quarter
of 2007. As you might expect, the market reacted. So did Cutera’s
CEO, Kevin Conners, but he didn’t buy, he sold. He knew when to sell.
On April 5, 2007, the Company stunned the market by announcing that
instead of revenues increasing 25%, they would materially decrease.
On this news, Cutera’s stock plummeted $11.72 per share on heavy
volume.
Investors who purchased Cutera between January 31, 2007 and
April 4, 2007 are affected.
We are investigating the 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. More information is
available at securitiessleuth.typepad.com or at www.securitiessleuth.com
Other cases under investigation are:
CTS Corporation (NYSE: CTS)
Inphonic, Inc. (INPC)
Jackson Hewitt Tax Service Inc. (NYSE: JTX)
Fremont General Corporation (NYSE: FMT)
Thor Industries, Inc.(THO)
U.S. Auto Parts Network, Inc. (NASDAQ: PRTS)
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.
Catalina Marketing Corp. (POS)
Class Period: October 14, 1999 to August 25, 2003
Claim Deadline: May 21, 2007
Claims Administrator: Gilardi
Spear & Jackson, Inc. (SJCK)
Class Period: February 1, 2002 to April 1, 2003
Claims Deadline: June 26, 2007
Claims Administrator: Garden City
Information regarding other recent settled cases, including the cases
listed below can be found at www.securitiessleuth.com.
Winstar Communications (WCII)
Ibis Technology Corp. (IBIS)
Astropower, Inc. (APWR)
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
http://securitiessleuth.typepad.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
http://www.cartville.com/app/join.asp?MerchantID=47994.
Warmest regards,
Mark McNair
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