LOS ANGELES, Sept. 28, 2006 (PRIMEZONE) -- Yourman Alexander & Parekh LLP, a law firm with extensive experience in prosecuting claims for securities and consumer fraud, announces that a lawsuit seeking class action status has been filed on behalf of shareholders who purchased or otherwise acquired the securities of Dell, Inc. ("Dell" or the "Company") (Nasdaq:DELL) during the period February 13th, 2003 through September 8th, 2006, inclusive (the "Class Period"). The matter is pending in the United States District Court for the Western District of Texas.
The complaint alleges in part that defendants violated federal securities laws by failing to present the true financial condition of Dell and reaped the rewards therefrom through the granting of lucrative stock options. The complaint further alleges that the defendants concealed that the SEC was investigating Dell's revenue recognition and accounting practices. On September 11, 2006, Dell finally told its shareholders that it would not be able to file its interim financial report for its second quarter of 2007 due to the ongoing internal investigation of its historical financial results and the inquiries regarding the same posed by various government entities.
Since a class has not yet been certified, you are not represented by counsel in this matter. If you purchased or acquired Dell securities from February 13th, 2003 through September 8th, 2006, inclusive, and suffered a loss, the deadline to move for appointment as Lead Plaintiff is November 13, 2006. A Lead Plaintiff is a representative party that acts on behalf of other class members in directing the litigation. The securities laws require the Court to consider the class member(s) with the largest financial interest, i.e. the largest financial loss, as presumptively the most adequate Lead Plaintiff(s). In order to serve as a Lead Plaintiff, you must meet certain legal requirements. While your ability to share in any recovery is not affected by your decision of whether or not to seek appointment as a Lead Plaintiff, Lead Plaintiffs are responsible for making important decisions which could affect the overall recovery for class members, including decisions concerning settlement.
If you: (i) wish to discuss this action, have information concerning this case, or acquired shares through your Dell retirement account; (ii) have questions concerning this Notice or your rights or interests with respect to this litigation; or (iii) have any other potential matters that you would care to discuss, please contact Vahn Alexander or Behram Parekh of Yourman Alexander & Parekh LLP, 3601 Aviation Blvd., Suite 3000, Manhattan Beach, California 90266 by telephone, toll-free at (800) 725-6020, or by email to bparekh@yaplaw.com. There will be no obligation or cost to you concerning your inquiry. For more information please visit www.yaplaw.com.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca.