Published:
Law Offices of Howard G. Smith, Representing Investors of R.H. Donnelley Corporation, Announces Class Action Lawsuit
BENSALEM, Pa. - (BUSINESS WIRE) - Law Offices of Howard G. Smith, representing investors of R.H. Donnelley
Corporation ("RH Donnelley " or the "Company" ) (OTC:RHDCQ.PK),
has filed a class action lawsuit in United States District Court on
behalf of a class (the "Class" ) consisting of all persons or entities
who purchased the publicly traded securities of RH Donnelley between
July 26, 2007 and May 28, 2009, inclusive (the "Class Period" ). The
class action lawsuit was filed in the United States District Court for
the District of Delaware.
The Complaint alleges that throughout the Class Period defendants knew
or recklessly disregarded that their public statements concerning RH
Donnelley's business and financial performance were materially false and
misleading. Specifically, the defendants made false and/or misleading
statements and/or failed to disclose that: (a) the Company, in violation
of Generally Accepted Accounting Principles ("GAAP" ), was not adequately
reserving for its bad debts; (b) as a result, its financial results were
materially misstated; (c) downward pressure on the Company's advertising
revenue was not exclusively the result of cyclical challenges, but was
also due to a permanent shift in customers moving away from print yellow
pages advertising; (d) the Company's liquidity concerns and exposure to
ratings downgrades were much greater than it had previously disclosed;
and (e) given the turmoil in the U.S. economy and the trends related to
a shift away from print advertising, the Company had no reasonable basis
to make projections about its 2008 results.
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 RH Donnelley securities between July 26, 2007 and May 28,
2009, you have certain rights, and have until December 22, 2009, to move
for lead plaintiff status. 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith,
3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone
at (215)638-4847, Toll-Free at (888)638-4847, by email to howardsmith@howardsmithlaw.com
or visit our website at http://www.howardsmithlaw.com.
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
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