marie osment class actio for lying about nutri system

MARIE OSMENT CLASS ACTIO FOR LYING ABOUT NUTRI SYSTEM FULL

We provide information that surround the activities and careers in the legal industry. All rights reserved.Īttorney News- Find the latest lawyer and law firm news and information. © Lawyer News - Law Firm News & Press Releases. Legal Document Services in Los Angeles, CA Please visit our website for more information about the Firm. Klafter & Olsen LLP has extensive expertise in prosecuting investor class actions involving financial fraud and has offices in Washington D.C. If you have sustained losses on your purchases of NutriSystem publicly traded securities during the Class Period, please contact Klafter & Olsen LLP at or call us at 202/261-3553 for a more thorough explanation of the lead plaintiff selection process and the claims that can be asserted against NutriSystem. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as lead plaintiff. A lead plaintiff is a representative party that acts on behalf of class members in directing the litigation. If you are a member of the class, you may move the Court, through counsel of your choice, no later than Decemto serve as lead plaintiff.

In response to this announcement, the price of NutriSystem common stock fell $15.98 per share, or approximately 34%, to close at $31.59 per share, on extremely heavy trading volume.

MARIE OSMENT CLASS ACTIO FOR LYING ABOUT NUTRI SYSTEM FULL

As a result, the defendants lacked a reasonable basis for their positive statements about the Company and its prospects, which artificially inflated NutriSystem stock to Class Period highs exceeding $70 per share while the defendants unloaded nearly $7 million in NutriSystem stock.Īfter the markets closed on October 3, 2007, the Company announced its preliminary third quarter 2007 results and revised earnings guidance for the full year of 2007.

According to the complaint, during the Class Period, defendants issued materially false and misleading statements that misrepresented and/or failed to disclose: (a) that the Company had been signing up fewer new customers and was not performing according to internal expectations (b) that the Company's costs of acquiring new customers were significantly increasing and (c) that the Company's performance had been negatively impacted by competition from other weight loss products on the market. The complaint charges NutriSystem and certain of its officers with violations of the Exchange Act while at the same time selling nearly $7 million in their personal holdings of NutriSystem stock.

As described below, if you purchased NutriSystem publicly traded securities during the Class Period, you have until Decemto move to be appointed as a Lead Plaintiff. ('NutriSystem') between Februand October 3, 2007, inclusive (the 'Class Period'), seeking to pursue remedies under the Securities Exchange Act of 1934 (the 'Exchange Act'). Klafter & Olsen LLP announces that it has filed a class action in the United States District Court for the Eastern District of Pennsylvania on behalf of a Class consisting of all persons other than Defendants who purchased the common stock of NutriSystem, Inc. Class Action Lawsuit Against NutriSystem, Inc.

Marie osment class actio for lying about nutri system