UNITED STATES DISTRICT COURT
DISTRICT OF NEW JERSEY
)
CHIAMING HU, Individually and on ) Civ. Action No. _______
Behalf of All Others Similarly Situated, )
) CILVIL ACTION COMPLAINT
Plaintiff ) FOR VIOLATIONS OF THE
) FEDERAL SECURITIES LAWS
-against- )
)
)
MEASUREMENT SPECIALTIES, INC., )
JOSEPH R. MALLON JR., KIRK J. DISCHINO, ) JURY TRIAL DEMANDED
DR. STEVEN P. PETRUCELLI, DAMON )
GERMANTON, JOHN D. ARNOLD, )
THEODORE J. COBURN and DAN J. SAMUEL, )
)
Defendants. )
)
)
Plaintiff has alleged the following based upon the investigation of plaintiff's counsel,
which included a review of United States Securities and Exchange Commission ("SEC") filings
by Measurement Specialties Inc. ("Measurement Specialties" 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. Plaintiff believes that substantial additional evidentiary support will exist for the
allegations set forth herein after a reasonable opportunity for discovery.
NATURE OF THE ACTION
1. This is a securities class action brought under §§ 11 and 15 of the Securities Act
of 1933 (the "Securities Act"), 15 U.S.C. §§77k, 770, and §§10(b) and 20(a) of the Securities
1
SNIPPETS:
UNITED STATES DISTRICT COURT
JOSEPH R. MALLON JR., KIRK J. DISCHINO,) JURY TRIAL DEMANDED
Plaintiff has alleged the following based upon the investigation of plaintiff's counsel,
by Measurement Specialties Inc.,
regulatory filings and reports, securities analysts' reports and advisories about the Company,
This is a securities class action brought under §§ 11 and 15 of the Securities Act
Exchange Act of 1934, 15 U.S.C. §§78j, 78t, and the rules
who purchased or otherwise acquired Measurement Specialties' common stock
Defendants are Measurement Specialties and certain of the Company's
Prospectus (collectively the "Registration Statement") issued in connection with the Offering
misrepresented and omitted material facts in that, among other thing, the quarterly financial
During the Class Period, and in violation of GAAP, defendants caused
Measurement Specialties to falsely report favorable financial results by, among other things,
Defendant Joseph R. Mallon was, at all relevant times, the Company's
Statement") and the Company's quarterly report on Form 10-Q for the quarter ended September
Chief Financial Officer until he was fired on February 14,
hereinafter collectively be referred to as the "Individual Defendants."
and Petrucelli shall also be referred to as the "10Defendants."
Approximately 60% of net sales for the quarter were generated by our Consumer Products,
The remaining 40% of net sales were generated by our more recently acquired IC Sensors and
Plaintiff repeats and realleges each and every allegation contained in ¶¶ 2-23
dissemination of the Registration Statement and caused its filing with the SEC.
participated in the issuance of materially false and misleading statements to the investing
the market price of Measurement Specialties common stock sold
Plaintiff and other members of the Class were damaged by defendants' acts and by
Measurement Specialties today is filing a Notification of Late Filing with the Securities and
Company was intimately involved in preparing its false financials report.
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