| Company: | National Lampoon |
| Ticker Symbol: | NLN |
| Class Period: | Mar-1-08 to Dec-15-08 |
| Date Filed: | Dec-7-10 |
| Lead Plaintiff Deadline: | Feb-5-11 |
| Court: | Central District of California |
| Allegations: | |
The complaint alleges that National Lampoon and its former CEO Daniel Laikin engaged in an unlawful scheme to inflate the price of National Lampoon stock by paying "consultants" to purchase the stock. According to the complaint, the Company and its officers perpetrated the scheme in order to create the illusion of an active and liquid market in the Company's shares, which would drive up the price, make the stock appear attractive and the company successful, and thereby induce the purchase of Company stock by the unsuspecting investors at an unknowingly inflated price. On December 15, 2008, former CEO Daniel Laikin and others were charged with conspiracy and securities fraud by federal prosecutors, in connection with the market manipulation scheme.
When the scheme was uncovered, the share price dropped, National Lampoon stock was eventually delisted, and investors suffered huge losses. Recently, Laikin has pled guilty to securities fraud for his role in the scheme.
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.
