CASES
DynaVox,Inc.
Lead Plaintiff Deadline: Dec 13, 2010 + Deadline passed
Summary of Case:
A securities class action has been filed against DynaVox, Inc. (DVOX) ("DynaVox" or the "Company") on behalf of all persons or entities who acquired the common stock of DynaVox pursuant to the Company's false and misleading Registration Statement and Prospectus issued in connection with its April 21, 2010 initial public offering. The case has been filed in the United States District Court for the Western District of Pennsylvania.
The complaint alleges that Defendants issued materially false and misleading statements concerning DynaVox's business, operations and financial prospects. Specifically, defendants misrepresented and/or failed to disclose that: (1) the Company was experiencing a softening of demand for its speech generating devices and for its software products; and (2) as a result, the weak demand for the Company's products would cause DynaVox's financial results to trend adversely compared to the trends included in the Registration Statement.
On September 30, 2010, DynaVox issued a press release commenting on the Company's first quarter fiscal 2011 results and disclosed that "the Company experienced a softening of demand for both its speech generating devices and software products. As a result, operating results for the fiscal first quarter will not be consistent with historical performance or indicative of what management believes to be the Company's long-term future operating potential."
As a result of this news, shares of DynaVox declined $2.68 per share, or approximately 33%, to close on October 1, 2010 at $5.44 per share, on unusually heavy volume of more than 3.4 million shares traded.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.