jhv1blz5 wrote: The article validated SOA as an IT architecture paradigm that can be leveraged in many ways. Taking data storage, scalability and application performance to a nifty level using SOA Application Grid infrastructure will no doubt enhance data and application performance on Oracle architecture platforms, it also has the promise of a cost effective and efficient IT delivery model. The very benefits of SOA.
JENKINTOWN, PA -- (MARKET WIRE) -- 06/22/06 -- Ann D. White Law Offices has filed a class
action lawsuit in the United States District Court for the Southern
District of California, with Klafter & Olsen LLP, on behalf of purchasers
of the publicly traded securities of InfoSonics Corporation ("InfoSonics")
(AMEX: IFO) between May 9, 2006 and June 9, 2006 inclusive (the "Class
Period"). Defendants include InfoSonics and certain of its top officers and
directors.
The complaint alleges violations of the federal securities laws.
Specifically, the complaint alleges that defendants knew or recklessly
disregarded that InfoSonics had improperly accounted for warrants issued in
connection with a January 2006 private placement. It also alleges that
while in the possession of non-public information regarding the
investigation into its accounting for the warrants, defendants sold large
amounts of their personal holdings.
Before the market opened on June 12, 2006, InfoSonics disclosed that it
would have to restate its previously reported financial results, and that
it would have to revise downward its first quarter net income from $1.738
million to $1.173 million as a result of the improper accounting treatment
for the warrants. On this news, shares of InfoSonics fell to a close of
$17.38, down from the previous close of $24.22.
If you purchased InfoSonics stock during the Class Period, you may qualify
to serve as Lead Plaintiff on behalf of the Class. You are not required to
have sold your InfoSonics stock in order to claim damages, or to
participate in this lawsuit. This case will be prosecuted on a contingent
fee basis. All motions for appointment as Lead Plaintiff must be filed with
the Court by August 14, 2006.
Our firm's attorneys have considerable experience in securities fraud class
actions. Our firm will answer all questions, and provide information, at no
cost or obligation to you.
For further information, questions about the lawsuit or how to participate,
please contact Ann White, Mandy Roth or Ronald Lopit.