Monday, May 01, 2006

Class action lawsuit taken against Lipman Electronic Engineering

A class action lawsuit against Lipman Electronic Engineering ltd alleges breaches of securities laws by making materially false or misleading public statements concerning its acquisition of Dione, Plc. On September 28, 2005, Lipman admitted that the "weaker than expected performance of Dione" caused Lipman to lower its 2005 earnings guidance from $1.39 - $1.42 per share, to $0.88 - $0.98 per share.

The class action lawsuit has been taken by Stull Stull & Brady.

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