Published:
Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From Investment in Anadigics, Inc. to Inquire About the Lead Plaintiff Position in Securities Fraud Class Action Lawsuit Before the January 12, 2009 Lead Plaintiff Deadline
Brower Piven, A Professional Corporation
announces that a class action lawsuit has been commenced in the United
States District Court for the District of New Jersey on behalf of
purchasers of the common stock of Anadigics, Inc. ("Anadigics" or the
"Company") (NASDAQ: ANAD) during the period between July 25, 2007 and
February 12, 2008, inclusive (the "Class Period").
The Complaint accuses the defendants of violations of the Securities
Exchange Act of 1934 by virtue of the Company's failure to disclose during
the Class Period that the Company was experiencing manufacturing
inefficiencies associated with increased production levels and would not be
able to meet its stated guidance due to its inability to meet demand and
thus lacked a reasonable basis for positive statements about the Company's
prospects. The complaint alleges that both the Company's revelation of
disappointing earnings on October 23, 2007 and its February 12, 2008
announcement of financial results for the fourth quarter and year-end 2007
cause the value of Anadigics' common stock to decline significantly.
No class has yet been certified in the above action. Members of the Class
will be represented by the lead plaintiff and counsel chosen by the lead
plaintiff. If you wish to choose counsel to represent you and the Class,
you must apply to be appointed lead plaintiff no later than January 12,
2009 and be selected by the Court. The lead plaintiff will direct the
litigation and participate in important decisions including whether to
accept a settlement and how much of a settlement to accept for the Class in
the action. The lead plaintiff will be selected from among applicants
claiming the largest loss from investment in the Company during the Class
Period. You may contact Brower Piven (through hoffman@browerpiven.com or
410/986-0036) to answer any questions you may have in that regard.
If you have suffered a net loss for all transactions in Anadigics, Inc.
common stock, you may obtain additional information about this lawsuit and
your ability to become a lead plaintiff by contacting Brower Piven at
www.browerpiven.com, by email at hoffman@browerpiven.com, by calling
410-986-0036, or at Brower Piven, A Professional Corporation, The World
Trade Center-Baltimore, 401 East Pratt Street, Suite 2525, Baltimore,
Maryland 21202. Attorneys at Brower Piven have combined experience
litigating securities and class action cases of over 40 years. If you
choose to retain counsel, you may retain Brower Piven without financial
obligation or cost to you, or you may retain other counsel of your choice.
You need take no action at this time to be a member of the class.
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