Law Offices of Howard G. Smith, Representing Investors of R.H. Donnelley Corporation, Announces Class Action Lawsuit.BENSALEM, Pa. -- Law Offices of Howard G. Smith, representing investors 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), 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 United States District Court United States District Court In the U.S., any of the 94 trial courts of general jurisdiction in the federal judicial system. Each state, as well as the District of Columbia and the Commonwealth of Puerto Rico, has at least one federal district court. on behalf of a class (the "Class") consisting of all persons or entities who purchased the publicly traded securities of RH Donnelley between July 26, 2007 and May 28, 2009, inclusive (the "Class Period"). The class action lawsuit was filed 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. . The Complaint alleges that throughout the Class Period defendants knew or recklessly 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. No class has yet been certified See certification. in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased RH Donnelley securities between July 26, 2007 and May 28, 2009, you have certain rights, and have until December 22, 2009, to move for lead plaintiff status. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215)638-4847, Toll-Free at (888)638-4847, by email to howardsmith@howardsmithlaw.com or visit our website at http://www.howardsmithlaw.com. |
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