| Company: | Immersion Corporation |
| Ticker Symbol: | IMMR |
| Class Period: | May-3-07 to Jun-30-09 |
| Date Filed: | Sep-8-09 |
| Lead Plaintiff Deadline: | Nov-7-09 |
| Court: | Northern District of California |
| Allegations: | |
The Complaint charges that Immersion and certain of its officers and directors violated federal securities laws. It is alleged that defendants issued materially false and misleading statements regarding the Company's transactions in its Medical line of business. Specifically, defendants concealed the following facts from the investing public during the Class Period: (i) the Company's revenue recognition practices with respect to its Medical line of business did not comply with Generally Accepted Accounting Principles; and (ii) the Company's reported revenue and earnings were overstated due to the Company's false accounting.
On July 1, 2009, before the market opened, Immersion announced 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.
