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Recently, there have been few new "Dellionaires" - individuals
who have become millionaires by investing in Dell (DELL) stock.
In fact, on August 17, 2006, Dell announced its fifth consecutive
quarter of disappointing results. Once again, the Company missed
its own revenue and earnings per share targets. At that time, Dell
also disclosed that the SEC had begun investigating its accounting
practices and that its own internal accounting review had discovered
information that raised potential issues related to certain periods
prior to fiscal 2006.
More disturbing news would follow. On September 11, 2006,
the Company revealed that its Audit Committee had not finished
its review and the Company would not be able to file its interim
financial report for the second quarter of 2007. Dell also disclosed
that the US Attorney's office for the Southern District of New York
had served Dell with a subpoena requesting documents concerning
its accounting and financial reporting between 2002 and 2006.
Meanwhile Dell stock continues to slide and it appears that
investors who purchased Dell between February 13, 2003 and
September 8, 2006, have been affected.
More Stock Options Difficulties
Once again, investors are negatively affected by backdated
options difficulties. The most recent example is Michaels Stores Inc.
(NYSE: MIK). Michaels Stores, Inc., together with its subsidiaries,
engages in the ownership and operation of a chain of specialty
retail stores in the United States and Canada. The stores feature
arts, crafts, framing, floral, decorative wall decor, and seasonal
merchandise for the hobbyist and do-it-yourself home decorator.
Specifically, it has been alleged that the Company issued false
and misleading statements while they concealed their past
manipulation of grant dates associated with hundreds of thousands
of stock options granted to Michaels Stores insiders.
Aspen Technology, Inc. provides software and professional services
that enable process companies to model, manage, and control their
operations.
On September 6, 2006, after the close of trading, Aspen disclosed,
among other things, that a subcommittee of independent directors
concluded that errors were made in the accounting for certain
historical stock options granted during and prior to fiscal 2004,
and previously issued financial statements will require restatement
as a result of these errors. The Company also disclosed that
certain of the Company's previously issued financial statements
and the related reports of its independent registered public
accounting firm should not be relied upon. Not surprising, Aspen
shares dropped the following day. It appears that investors who
purchased Aspen between February 8, 2006 and September 6, 2006
are affected.
If you are an affected shareholder in Dell, Michaels Stores, Aspen
Technology Inc. or any of the companies listed below (details available
at www.securitiessleuth.com), you may wish to contact Mark McNair
at info@securitiessleuth.com or 877.511.4717 to discuss your options.
ADVO, Inc. (NYSE:AD)
Affiliated Computer Services (ACS)
CNET Networks (CNET)
F5 Networks Inc. (FFIV)
IMAX (IMAX)
McAfee Inc. (MFE)
Power Integrations (POWI)
Sea Containers, Ltd. (NYSE: SCR-A)
Semtech (SMTC)
The Shaw Group (SGR)
Stage Stores, Inc. (SSI)
Tier Technologies Inc. (TIERE)
Witness Systems Inc. (WITS)
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.
Symbol Technology, Inc. (SBL)
Class Period: March 2, 2000 to October 17, 2002
Claims Deadline: October 31, 2006
Claims Administrator: A.B. Data
Tellium, Inc. (TELM)
Class Period: May 17, 2001 to July 1, 2002
Claims Deadline: October 18, 2006
Claims Administrator: Analytics
Information regarding other recent settled cases, including the
cases listed below can be found at www.securitiessleuth.com.
Imperial Chemical Industries PLC (ICI)
Vistacare, Inc. (VSTA)
ARM Financial Group (ARMGQ)
Carreker Corp. (CANI)
Loewen Group Inc. (LWN)
Razorfish, Inc. (RAZF)
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
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