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Investors have brought an action against Advanced Medical Optics, Inc. (NYSE: EYE) for potential violations of securities laws. It is alleged that the Company issued a series of false and misleading statements regarding the Company's contact lens solution product, Complete MoisturePlus Multipurpose Solution, that caused Advanced Medical shares to trade at artificially inflated levels.
On May 25, 2007, the Company announced that it was recalling its Complete MoisturePlus contact lens solution after federal regulators linked the product to the risk of a rare cornea inflection. The market reaction was swift. On May 29, 2007, shares of Advanced Medical fell almost 14%.
Investors who purchased EYE shares between January 4, 2007 and May 25, 2007 may be affected.
Soda Troubles
Jones Soda Co. (NASDAQ: JSDA) issued some various bullish statements regarding expanding its sales channels to major
retailers. Its stock rose and the Company's Chair and CEO sold stock for over $2.5 million.
However, on August 2, 2007, the Company reported lower-than-expected sales and difficulty getting the new canned soda product onto
retailers' shelves. Its promised Memorial Day holiday blitz would not happen because the Company admitted they lacked the resources to execute the launch. On August 3, 2007, Jones Soda declined 23%, down more than 65% from its class period high.
Investors who purchased JSDA between November 1, 2006 and August 2, 2007 may be affected.
Subprime Woes Increase
American Home Mortgage and Countrywide Finance may dominate the news, but investors in other mortgage companies have also been devastated. Specifically, among other companies, we are investigating Thornburg Mortgage, Inc. (NYSE: TMA), Impac Mortgage Holdings, Inc. (NYSE: IMH) and Fremont General Corporation (NYSE: FMT).
Other companies were are investigating include: LCA-Vision Inc. (NASDAQ: LCAV), Tween Brands (NYSE: TWB), and Heelys, Inc. (NASDAQ: HLYS).
If you are an affected investor in any of the companies listed above, you may wish to contact us at info@securitiessleuth.com or 202 338 1756.
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.
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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