DENVER, Sept. 5, 2009 (GLOBE NEWSWIRE) -- Dyer & Berens LLP (www.DyerBerens.com) today announced that a class action has been commenced in the United States District Court for the Northern District of California on behalf of purchasers of Immersion Corporation ("Immersion") (Nasdaq:IMMR) publicly-traded securities during the period between May 3, 2007 and June 30, 2009 (the "Class Period").
If you wish to serve as a lead plaintiff, you must move the court no later than November 2, 2009. If you wish to discuss the action or have any questions concerning this press release, you may contact Jeffrey A. Berens, Esq. at (888) 300-3362 or via email at jeff@dyerberens.com. Any member of the putative class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
The complaint charges Immersion and certain of its officers and directors with violations of the Securities Exchange Act of 1934. During the Class Period, defendants allegedly issued materially false and misleading statements regarding the Company's transactions in its Medical line of business. Specifically, defendants allegedly failed to disclose that the Company's revenue recognition practices with respect to its Medical line of business did not comply with GAAP and the Company's reported revenue and earnings were overstated due to its improper accounting. The plaintiff seeks to recover damages on behalf of certain Immersion investors.
At this time Dyer & Berens LLP has not filed a complaint in this action. However, the firm's extensive experience in securities litigation, particularly in cases brought under the Private Securities Litigation Reform Act, has contributed to the recovery of hundreds of millions of dollars for aggrieved investors. For more information about the firm, please go to http://www.dyerberens.com/.