Law Firm Shalov Stone & Bonner LLP Announces Class Action Lawsuit Against iMergent, Inc.
Law Firm Shalov Stone & Bonner LLP Announces Class Action Lawsuit Against iMergent, Inc.: "NEW YORK--(BUSINESS WIRE)--April 1, 2005--On April 1, 2005, a class action was commenced on behalf of all persons who purchased the securities of iMergent, Inc. (AMEX: IIG) in the period from October 26, 2004, through February 25, 2005. The complaint is available at www.lawssb.comThe complaint alleges that the defendants made material misrepresentations and omissions of material facts concerning the company's business performance during the relevant time period. According to the complaint, throughout the relevant time period, iMergent represented that it was a prospering software company while it simultaneously concealed that its sales practices violated the laws of many of the states in which it conducts business. The complaint further alleges that iMergent was concealing the full extent of the uncollectability of its installment contracts with its clients, many of which did not meet the company's own credit criteria."
posted by Monkeyman @ 5:02 PM
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