A lawsuit was filed by a current investor in NASDAQ:MLNK shares over alleged breaches of fiduciary duties by certain directors of Modus Link Global Solutions, Inc and other NASDAQ:MLNK stockholders are encouraged to contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/23/2012 -- A current stockholder of NASDAQ:MLNK shares filed a lawsuit against directors of ModusLink Global Solutions, Inc. over alleged breaches of fiduciary duties in connection with certain financial statements.
Investors who are current long-term stockholders of shares ofModusLink Global Solutions, Inc. (NASDAQ:MLNK), have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The lawsuit by a current investor in NASDAQ:MLNK shares against directors of ModusLink Global Solutions, Inc. over alleged breaches of fiduciary duties follows a lawsuit filed earlier by MASDAQ:MLNK investors against ModusLink Global Solutions, Inc. over alleged securities laws violations in connection with certain financial statements. The plaintiff in that lawsuit alleges that ModusLink Global Solutions, Inc violated the Securities Exchange Act of 1934 by issuing allegedly materially false and misleading statements regarding the Company's business and prospects.
On June 11, 2012, ModusLink Global Solutions, Inc. announced that it will delay the filing of the third quarter FY 2012 results and that it expects to restate its financial results from FY 2007 through first two quarters of the FY 2012. Furthermore, ModusLink Global Solutions, Inc. said that its President and CEO retired effective immediately upon the appointment of a new chief executive officer and its president, global operations for ModusLink left the company effective immediately
Shares of ModusLink Global Solutions, Inc. (NASDAQ:MLNK) dropped from $4.27 on June 8, 2012 to $2.64 on June 11, 2012.
On July 20, 2012, NASDAQ:MLNK shares closed at $3.10 per share.
Those who are current long-term stockholders of shares of ModusLink Global Solutions, Inc. (NASDAQ:MLNK), have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Joelle Day
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com