2009-11-07 17:01:02 -
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 : mailto:howardsmith@howardsmithlaw.com or visit our website at
www.howardsmithlaw.com :
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Law Offices of Howard G. SmithHoward G. Smith, Esquire215-638-4847888-638-4847
howardsmith@howardsmithlaw.com : mailto:howardsmith@howardsmithlaw.com www.howardsmithlaw.com :
