2009-10-26 20:47:16 - Investigation on behalf of current long term investors of Taleo Corporation (Public, NASDAQ:TLEO) in connection with the pending lawsuit against Taleo Corporation (NasdaqGM: TLEO) over alleged securities laws violations – Contact the Shareholders Foundation, Inc at mail@shareholdersfoundation.com

Taleo Corp. (TLEO) has been accused of securities fraud by a lawsuit filed on behalf investors, who purchased TLEO shares October 4, 2005 and November 10, 2008. But Taleo Corporation faces also an investigation on behalf current long term TLEO investors concerning possible shareholder claims.

If you are a current long-term investor in Taleo Corporation (Public, NASDAQ:TLEO), you have certain

options and you should contact the Shareholders Foundation, Inc. at email: mail(at)shareholdersfoundation.com or at: +1 (858) 779 - 1554.

An investor in Taleo Corporation (Public, NASDAQ:TLEO) filed a lawsuit on behalf of investors of Taleo Corporation (NasdaqGM: TLEO) securities between October 4, 2005 and November 10, 2008 against Taleo Corp. (TLEO) and officers and directors of Taleo Corp. in the United States District Court for the Northern District of California. According to the complaint the plaintiff alleged that the defendants misled or failed to inform the investing public regarding the Taleo Corps historical and current accounting practices with respect to the timing for recognition of application and consulting revenues under generally accepted accounting principles in theUnited States GAAP. These policies, which reflected an inappropriate application of GAAP designed to accelerate the recognition of revenues, had been part of a scheme to defraud investors since Taleo Corps initialpublic offering in October 2005 and as a result of this acceleration of revenues, Taleo Corp. was able to present to investors a ‘rosier picture’ of its financial condition than the appropriate revenue figures would have depicted, so the lawsuit, and when the truth was revealed to the market, the price of Taleo Corp. common stock dropped $3.06, or 28 percent, to $7.99.
Taleo Corporation, located in Dublin, California, is a provider on-demand talent management software solutions. Taleo Corp offers recruiting, performance management, internal mobility and other software solutions. Taleo Corporation delivers its solutions on-demand as a hosted service that is accessed through an Internet connection and a standard Web browser. Taleo Corporation reported in 2007 Total Revenue of $128.07million and in 2008 Total Revenue of $168.42million. Shares of Taleo Corporation traded recently at $23.93 per share. TLEO shares reached $33.24 per share in the end of 2007.

Those who are current long-term investors in Taleo Corporation (NasdaqGM: TLEO), have certain options and should contact the Shareholders Foundation.