The Law Firm of Goldman Scarlato & Karon, P.C. Announces Class Action Lawsuit Against TeleTech Holdings, Inc.CONSHOHOCKEN, Pa. -- Goldman Scarlato & Karon, P.C., a law firm with offices in Pennsylvania and Ohio, announces that 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 has been filed in the 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. for the Southern District of New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , on behalf of purchasers of the common stock of TeleTech Holdings, Inc., (NASDAQ NASDAQ
in full National Association of Securities Dealers Automated Quotations
U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :TTEC TTEC Trinidad and Tobago Electricity Commission
TTEC Transport Technology Exchange Center (China)
TTEC Test, Training, & Exercise Capability
TTEC Two Teachers in Every Classroom ) between February 8, 2007 and November 8, 2007, inclusive, (the "Class Period"). The lawsuit was filed against TeleTech and certain of its officers, directors and underwriters ("Defendants").
If you purchased the common stock of TeleTech during the Class Period and wish to view a copy of a complaint and join the class action, please e-mail us at firstname.lastname@example.org, or call us at (888) 668-4130 for more information. If you purchased your shares during the Class Period, you may move the Court no later than March 25, 2008 to serve as a lead plaintiff for the Class. Any member of the purported pur·port·ed
Assumed to be such; supposed: the purported author of the story.
pur·ported·ly adv. class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
The complaint alleges that certain TeleTech officers and directors made false and misleading statements regarding TeleTech's stock option and equity-based compensation practices in violation of the Securities Exchange Act of 1934 and SEC Rule 10b-5. The complaint also alleges that those officers and directors, along with TeleTech's underwriters, violated the Securities Act of 1933 by issuing a materially false and misleading Registration Statement and Prospectus in connection with TeleTech's March 30, 2007 secondary public offering of stock.
On November 8, 2007, TeleTech announced its Audit Committee was reviewing its historical stock option and other equity-based compensation grant practices. As a result, TeleTech would likely have to restate re·state
tr.v. re·stat·ed, re·stat·ing, re·states
To state again or in a new form. See Synonyms at repeat.
re·state its financial results from 1999 through 2007 to reflect material amounts of additional compensation expense. TeleTech also announced that its financial statements during that time period should no longer be relied upon. In reaction to the news, TeleTech shares dropped 17% on November 9, 2007, to $18.76 per share from the prior day's close of $22.61 per share.