Abbey Spanier Rodd & Abrams has filed a class-action lawsuit in the U.S. District Court for the District of Massachusetts on behalf of people who purchased or acquired securities of American Dental Partners (ADPI) from August 10, 2005, to December 13, 2007.
ADPI lost a $130 million lawsuit to the PDG dental group in December, after which its stock fell from $19.70 a share on December 11, 2007, to $14.34 on December 12, 2007, to $4.62 on December 13, 2007.
"The complaint charges ADPI and certain of its officers and directors with violations of the federal securities laws by issuing a series of material misrepresentations to the market during the class period thereby artificially inflating the price of ADPI shares," the law firm stated in a press release.
The law firm is accepting motions for lead plaintiff till March 31, 2008. For further information, contact Nancy Kaboolian at 800-889-3701, or by e-mail to [email protected].
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