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Immersion Corporation IMMR Securities Stock Fraud

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Company: Immersion Corporation
Ticker Symbol: IMMR
Class Period: May-3-07 to Jul-1-09
Date Filed: Nov-2-09
Lead Plaintiff Deadline: Jan-1-10
Court: Northern Distric of California
Allegations:
A class action complaint has been filed in the Northern District of California, against Immersion Corporation ("Immersion" or the "Company") and certain of its officers and directors, on behalf of shareholders who purchased Immersion securities between May 3, 2007, and July 1, 2009, inclusive.

The complaint alleges that defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by making false and/or misleading statements and/or failing to disclose: (1) that the Company overstated its income tax expense; (2) that the Company improperly recognized revenue; (3) that, as a result, the Company`s revenue, accounts receivable, and financial results, were overstated during the Class Period; (4) that the Company`s financial results were not prepared in accordance with Generally Accepted Accounting Principles; (5) that the Company lacked adequate internal and financial controls; and (6) that as a result of the above, the Company`s financial statements were materially false and misleading at all relevant times.

On July 1, 2009, before the market opened, the Company issued a press release announcing that the Audit Committee of the Company`s Board was conducting an internal investigation into certain previous revenue transactions in its Medical line of business. On this news, Immersion`s stock dropped over 23% from a close of $4.94 per share on June 30, 2009, to a close of $3.80 per share on July 1, 2009.

If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.

Immersion Corporation IMMR Securities Fraud Legal Help

If you have suffered from financial losses, you may qualify for damages or remedies that may be awarded in a possible Immersion Corporation securities class action lawsuit. Please fill in our form on the right to submit your complaint for a free evaluation.

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