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International Game Technology Faces Investor Class Action Lawsuit

 

If you purchased International Game Technology (NYSE:IGT) common stock during the period between November 1, 2007 and October 30, 2008, you have certain options and there are strict and short deadlines running. Deadline: September 28, 2009.Those who purchased between November 1, 2007 and October 30, 2008 and those who are 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): 
International Game Technology
Case Name: 
International Game Technology Investor Class Action Lawsuit 07/30/2009
Case Status: 
Lawsuit Filed
Affected Securities
NYSE: IGT
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
07/30/2009
Class Period Begin: 
11/01/2007
Class Period End: 
10/30/2008
Court of Filing: 
United States District Court for the District of Nevada
Deadline To File for Lead: 
09/28/2009
Summary: 

An investor of International Game Technology (Public, NYSE:IGT) has filed a proposed securities class action lawsuit in the United States District Court for the District of Nevada on behalf of purchasers of International Game Technology (NYSE:IGT) common stock during the period between November 1, 2007 and October 30, 2008 against IGT and others alleging violations of Federal Securities laws.

According to the complaint the plaintiff alleges that International Game Technology and certain of its officers and directors violated the Securities Exchange Act of 1934by issuing between November 1, 2007 and October 30, 2008 materially false and misleading statements regarding IGT’s business prospects. As alleged in the complaint, the inflation in the price of IGT stock came out in response to a series of disclosures by IGT. International Game Technology (IGT), located in Reno, NV, is a global gaming company specializing in the design, manufacture, and marketing of electronic gaming equipment and network systems, as well as licensing and services. IGT maintains an array of entertainment-inspired gaming product lines. In addition to its United States production facilities in Nevada, it manufactures gaming products in the United Kingdom and through a third-party manufacturer in Japan. International Game Technology reported in 2007 Total Revenue of $2.6214billion with a Net Income of $508.20million and in 2008 $2.5286billion with a Net Income of $341.50million. Shares of IGT traded recently at $19.72 per share, down from a 52weekHigh of $24.55 per share and $48.28 per share in 2008.

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