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NightHawk Radiology Holdings, Inc. Hit By Shareholder Lawsuit

 

If you purchased common stock of NightHawk Radiology Holdings, Inc. (Nasdaq:NHWK) between April 10, 2007 and February 13, 2008, you have certain options and there are strict and short deadlines running. Deadline: February 16, 2010. Those NHWK investors and current long term investors should contact the Shareholders Foundation

You may contact us by using this form, or by sending an email to mail@shareholdersfoundation.com, or calling us at (858) 779-1554.

Company Name(s): 
NightHawk Radiology Holdings
Case Name: 
NightHawk Radiology Holdings Shareholder Class Action Lawsuit 12/17/2009
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: NHWK
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
12/17/2009
Class Period Begin: 
04/10/2007
Class Period End: 
02/13/2008
Court of Filing: 
U.S. District Court for the District of Idaho
Deadline To File for Lead: 
02/16/2010
Summary: 

An investor in NightHawk Radiology Holdings, Inc. (Public, NASDAQ:NHWK) filed a lawsuit in in the United States District Court for the District of Idaho on behalf of an institutional investor on behalf of purchasers of the common stock of NightHawk Radiology Holdings, Inc. (Nasdaq:NHWK) between April 10, 2007 and February 13, 2008, over alleged violations of Federal Securities Laws by NightHawk Radiology Holdings, Inc. and others.

According to the complaint the plaintiff alleges that NightHawk Radiology Holdings and certain of its officers and executives violated Securities Exchange Act of 1934 by failing to disclose between April 10, 2007 and February 13, 2008, material adverse facts about its true financial condition, business and prospects. Then on February 13, 2008, NightHawk Radiology Holdings announced its financial results for the fourth quarter and year end of 2007, the period ended December 31, 2007 and in response to its announcement, the price of NightHawk Radiology Holdings stock (Nasdaq:NHWK) fell $1.61 per share, or 11%, to close at $12.54 per share, on February 14, 2008, so the lawsuit.

NightHawk Radiology Holdings, Inc., located in Coeur d' Alene, ID, provides radiology solutions to radiology groups and hospitals throughout the United States. The Company provides suite of solutions, including professional services, business services, and its workflow technology. NightHawk’s team of United States board-certified, state-licensed and hospital-privileged physicians located in the United States and around the world provide services around the clock includes seven days a week, for approximately 780 customers. NightHawk Radiology reported in 2007 Total Revenue of $151.66million with a Net Income of $14.69million and in 2008 Total Revenue of $167.61million with a Net Income of $9.44million. Shares of NightHawk Radiology (NASDAQ:NHWK) recently traded at $.428 per share, down from its 52weekHigh of $7.75 per share, $9.30 per share in September 08, $20.05 per share in January 08, and over $26 per share in 2007.

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