Glancy Binkow & Goldberg LLP, Representing Investors Who Purchased R.H. Donnelley Corporation, Announces Class Action Lawsuit and Seeks to Recover Losses.LOS ANGELES Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. -- Notice is hereby given that Glancy Binkow & Goldberg LLP LLP - Lower Layer Protocol has filed a class action lawsuit class action lawsuit A lawsuit in which one party or a limited number of parties sue on behalf of a larger group to which the parties belong. For example, investors may bring a class action lawsuit against a brokerage firm that has actively promoted a tax in the United States District Court for the District of Delaware The United States District Court for the District of Delaware is the Federal district court having jurisdiction over the entire state of Delaware. The Court sits in Wilmington. Currently, three judges and two magistrate judges preside over the court. on behalf of a class consisting of all persons or entities who purchased or otherwise acquired the publicly traded securities of R.H. Donnelley Corporation ("RH Donnelley" or the "Company") (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :RHDCQ.PK) between July 26, 2007 and May 28, 2009, inclusive (the "Class Period"). A copy of the Complaint is available from the court or from Glancy Binkow & Goldberg LLP. Please contact us by phone to discuss this action or to obtain a copy of the Complaint at (310) 201-9150 or Toll Free at (888) 773-9224, by email at info@glancylaw.com, or visit our website at http://www.glancylaw.com. The Complaint charges certain of the Company's executive officers and/or directors with violations of federal securities laws. RH Donnelley provides local search solutions and services in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Among other things, the Company publishes yellow pages directories that provide business listings, and white pages directories to residences and businesses across the United States. The Complaint alleges that throughout the Class Period defendants knew or recklessly reck·less adj. 1. a. Heedless or careless. b. Headstrong; rash. 2. Indifferent to or disregardful of consequences: a reckless driver. disregarded that their public statements concerning RH Donnelley's business and financial performance were materially false and misleading. Specifically, the defendants made false and/or misleading statements and/or failed to disclose that: (a) the Company, in violation of Generally Accepted Accounting Principles The standard accounting rules, regulations, and procedures used by companies in maintaining their financial records. Generally accepted accounting principles (GAAP) provide companies and accountants with a consistent set of guidelines that cover both broad accounting ("GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). "), was not adequately reserving for its bad debts; (b) as a result, its financial results were materially misstated; (c) downward pressure on the Company's advertising revenue was not exclusively the result of cyclical cyclical Of or relating to a variable, such as housing starts, car sales, or the price of a certain stock, that is subject to regular or irregular up-and-down movements. challenges, but was also due to a permanent shift in customers moving away from print yellow pages advertising; (d) the Company's liquidity concerns and exposure to ratings downgrades were much greater than it had previously disclosed; and (e) given the turmoil in the U.S. economy and the trends related to a shift away from print advertising, the Company had no reasonable basis to make projections about its 2008 results. The Complaint further alleges that defendants repeatedly assured investors that RH Donnelley had enough liquidity to fund its operations through early 2010. As a result of defendants' false and misleading statements, RH Donnelley stock traded at artificially inflated prices during the Class Period. On March 12, 2009, the Company announced that it had retained Lazard, a financial advisory and asset management firm, as a financial advisor to assist in the evaluation of RH Donnelley's capital structure, including various balance sheet restructuring alternatives. Then, on May 29, 2009, RH Donnelley filed for bankruptcy. Plaintiff seeks to recover damages on behalf of class members and is represented by Glancy Binkow & Goldberg LLP, a law firm with significant experience in prosecuting class actions, and substantial expertise in actions involving corporate fraud. If you are a member of the class described above, you may move the Court, no later than December 22, 2009, to serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, or Richard A. Maniskas, Esquire, of Glancy Binkow & Goldberg LLP, 1801 Avenue of the Stars, Suite 311, Los Angeles, California 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224 or by e-mail to info@glancylaw.com. |
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