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DEL GLOBAL TECHNOLOGIES CLASS ACTION LITIGATION Click to find out why . . .



Keywords & Phrases
CaseNo: DGTCAL238706, CourtName: CLASS ACTION CASES, State: NY New York, UniqueCaseRef: LCD>DGTCAL238706, Securities, Act, Reports, Class Action, Common Stock, Exchange Act, Individual Defendants, Filings, Price, Misleading, Material Facts, Action Pursuant, Materially False, Net Income, Purchasers, Technologies, Market Price, Securities Analysts, United States, Dissemination, Imaging Systems, Allegations Set, Fraudulent Scheme, Relevant Times, Participation, Medical Imaging , ContentID: 120249636

Case Documents
1 2000-11-06 COMPLAINT
[ see first page and extracted highlights below  ] ItemID: 122444
21 pages
PDF
Total Documents: 1 document , 21 pages
Price: $ 19.95


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1 . COMPLAINT

EXTRACTED KEY WORDS
SECURITIES
DEFENDANTS
ACT
REPORTS
CLASS ACTION
COMMON STOCK
EXCHANGE ACT
INDIVIDUAL DEFENDANTS
MEMBERS
FILINGS
PRICE
MISLEADING
BUSINESS
MATERIAL FACTS
ACTION PURSUANT
MATERIALLY FALSE
NET INCOME
PURCHASERS
TECHNOLOGIES
MARKET PRICE
SECURITIES ANALYSTS
UNITED STATES
DISSEMINATION
IMAGING SYSTEMS
ALLEGATIONS SET
FRAUDULENT SCHEME
RELEVANT TIMES
PARTICIPATION
MEDICAL IMAGING
                             UNITED STATES DISTRICT COURT
                            SOUTHERN DISTRICT OF NEW YORK



____________________________________
RICHARD CLYNE, On Behalf of Himself             X     No.
and All Others Similarly Situated,              :: CLASS ACTION
                               Plaintiff,       ::
        vs.                                     :     COMPLAINT FOR VIOLATION OF THE
                                                :     SECURITIES EXCHANGE ACT OF 1934
DEL GLOBAL TECHNOLOGIES                         :
CORPORATION, LEONARD A. TRUGMAN:                      Plaintiff Demands A
and MICHAEL H. TABER,                           :: Trial By Jury
                               Defendants.      :
____________________________________ X

                                      BASIS OF ALLEGATIONS

        1.     Plaintiff has alleged the following based upon the investigation of plaintiff's

which included a review of United States Securities and Exchange Commission ("SEC") filings by

Del Global Technologies Corporation ("Del Global" or the "Company"), as well as regulatory filings

and reports, securities analysts' reports and advisories about the Company, press releases and other

public statements issued by the Company, and media reports about the Company, and plaintiff believes

that substantial additional evidentiary support will exist for the allegations set forth herein

reasonable opportunity for discovery.

                                   NATURE OF THE ACTION

        2.     This is a federal class action on behalf of purchasers of the securities of Del

between December 7, 1999 and November 6, 2000 (the "Class Period"), seeking to pursue remedies

under the Securities Exchange Act of 1934 (the "Exchange Act").



                                  JURISDICTION AND VENUE

       3.      Plaintiff brings this action pursuant to the 1934 Act as amended (15 U.S.C. §§ 78j(b)

and 78t(a)) and Rule 10b-5 promulgated thereunder (17 C.F.R. § 240.10b-5).

SNIPPETS:
  • UNITED STATES DISTRICT COURT
  • Plaintiff has alleged the following based upon the investigation of plaintiff's counsel,
  • Del Global Technologies Corporation, as well as regulatory filings
  • and reports, securities analysts' reports and advisories about the Company, press releases
  • This is a federal class action on behalf of purchasers of the securities of Del Global
  • under the Securities Exchange Act of 1934.
  • This Court has jurisdiction over the subject matter of this action pursuant to § 27 of the
  • Plaintiff Richard Clyne purchased Del Global common stock during the Class Period,
  • substantial damages as a result of the wrongful acts of defendants as alleged herein.
  • cost-effective medical imaging and diagnostic systems
  • mammography systems, Neo-Natal systems, dental imaging systems and proprietary precision power
  • each of the Individual Defendants had access to the adverse non-public information about
  • the business, finances, markets and present and future business prospects of Del Global
  • As a result of their failure to do so, the price of Del Global common stock was
  • contents of quarterly and annual reports, press releases and presentations to securities
  • misleading prior to or shortly after their issuance and had the ability and opportunity to
  • and for participating in a fraudulent scheme and course of business that operated as a fraud
  • Class members; enabled certain Del Global insiders to engage in insider sales of their
  • the Class Period omitted and/or misrepresented material facts and whether defendants breached
  • On November 6, 2000, Del Global announced that its net income for the fiscal year
  • Based upon Del Global's materially false and misleading financial results,
  • income and value of its stock were lacking in reasonable basis at all relevant times.
  • or acquiesced in the issuance or dissemination of such statements or documents as primary
  • Plaintiff repeats and realleges the allegations set forth above as though fully set forth
  • as alleged herein; artificially inflate and maintain the market price of Del Global common
  • making of affirmative statements and reports, or participation in the making of affirmative
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