A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of Celestica Inc (NYSE: CLS) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on September 17, 2015 and NYSE: CLS investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 08/18/2015 -- A deadline is coming up on September 17, 2015 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of Celestica Inc (NYSE: CLS) between January 27, 2005 and January 30, 2007.
Investors who purchased a significant amount of shares of Celestica Inc (NYSE: CLS) between January 27, 2005 and January 30, 2007, have certain options and should contact the Shareholders Foundation by email at email@example.com or call +1(858) 779 - 1554.
The settlement proof of claim form or detailed settlement notice for the settlement in the Celestica Inc (NYSE: CLS) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/celestica-inc-nyse-cls-investor-securities-class-action-lawsuit-01122007
In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is September 17, 2015. The class action administrator for this case is Garden City Group, LLC.
The lawsuit was originally filed in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Celestica Inc in connection with certain allegedly false and misleading statements made between July 27, 2006 and December 12, 2006. The complaint charges Celestica Inc and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Celestica Inc provides electronic manufacturing services to original equipment manufacturers in the computing, telecommunications, aerospace and defense, automotive, consumer electronics, and industrial sectors in Asia, the Americas, and Europe.
The complaint alleges that between July 27, 2006 and December 12, 2006, defendants issued numerous statements describing Celestica Inc's financial performance and future prospects, which they attributed, in part, to success of Celestica Inc's restructuring activities and improvements in the Mexican and European operations. The complaint alleges that these statements were materially false and misleading when made because defendants failed to disclose and/or misrepresented the following adverse facts, among others: (i) that Celestica Inc was experiencing declining demand in its Mexican operations and that division was carrying significant amounts of unneeded inventory which would have to be written off; (ii) that Celestica Inc was experiencing declining demand in its Information Technology ("IT") and communications market segments as its larger customers scaled back purchases; and (iii) as a result of the foregoing, there was no reasonable basis to project adjusted earnings per share ranging from $0.12 to $0.20. When this undisclosed information later became public, shares of Celestica Inc common stock declined.
Those who purchased shares of Celestica Inc (NYSE: CLS) have certain options and should contact the Shareholders Foundation.
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