NEW YORK, Dec. 11, 2009 (GLOBE NEWSWIRE) -- The Brualdi Law Firm, P.C. announces that a lawsuit has been commenced in the United States District Court for the Eastern District of New York on behalf of purchasers Siemens AG ("Siemens") (NYSE:SI) stock during the period between November 8, 2007, through April 30, 2008 (the "Class Period") for violations of the federal securities laws.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased Siemens common stock during the Class Period, and wish to move the court for appointment of lead plaintiff, you must do so by February 5, 2010. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You do not need to seek appointment as a lead plaintiff in order to share in any recovery.
To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Sue Lee at The Brualdi Law Firm, P.C. 29 Broadway, Suite 2400, New York, New York 10006, by telephone toll free at (877) 495-1187 or (212) 952-0602, by email to slee@brualdilawfirm.com or visit our website at http://www.brualdilawfirm.com.
The complaint charges Siemens with violations of the Securities Exchange Act of 1934. The complaint alleges that during the Class Period, Siemens made materially false and misleading statements concerning its ability to generate revenues and achieve earnings expectations once it had put an end to systemic and extensive fraud, bribery and other illegal and corrupt activities in order to obtain contracts or retain business. As the truth was revealed, Siemens shares plummeted, causing damages of billions of dollars to Siemens shareholders.