2008-12-27 00:40:49 - A shareholder of Emcore Corp. (NASDAQ: EMKR) has filed a lawsuit on behalf of shareholders who purchased Emcore Corporation common stock from June 12, 2007, through March 17, 2008 against Emcore Corp. over alleged materially false and misleading statements.

On Wednesday, December 24, 2008, a shareholder of Emcore Corp. (NASDAQ: EMKR) has filed a proposed class action lawsuit in the United States District Court for the District of New Mexico on behalf of shareholders who purchased Emcore Corporation (NASDAQ: EMKR) common stock from June 12, 2007, through March 17, 2008 against Emcore Corp. over alleged materially false and misleading statements regarding Emcore's financial condition, business prospects, and revenue expectations between June 12, 2007, through March 17, 2008.
If you purchased Emcore Corporation (NASDAQ: EMKR) common stock from June 12, 2007, through March 17, 2008, you have certain options and there are strict and short deadlines running. (February 23, 2009). You should contact the Shareholders Foundation, Inc. immediately! Email: Mail(at)ShareholdersFoundation.com or

call us today: +1-(858)-779-1554. According to the complaint the plaintiff alleges that the Defendants issued numerous materially false and misleading statements regarding Emcore Corp.'s financial condition, business prospects, and revenue expectations between June 12, 2007, through March 17, 2008. Specifically, the complaint alleges that Emcore Corp's public statements regarding its order backlog were false and misleading because they overstated the value of the order backlog in Emcore Corp's terrestrial solar energy division and that those misstatements and omissions resulted in an artificially inflated price for Emcore's common stock between June 12, 2007, through March 17, 2008. Then on March 18, 2008, the price of Emcore Corp's common stock dropped over 23% on news that Emcore's largest customer, Green and Gold Energy ('GGE'), which accounted for $78 million of Emcore's $86 million backlog in terrestrial solar technology, would not be able to afford those transactions, so the lawsuit.