Koss Corporation

Class Period: Jul 12, 2005 to Dec 21, 2009

Lead Plaintiff Deadline: Mar 16, 2010 + Deadline passed

Summary of Case:

A securities class action has been filed against Koss Corporation (Koss) ("Koss Corporation" or the "Company") on behalf of all securities purchasers from July 12, 2005 through December 21, 2009, inclusive ("Class Period"), in the United States District Court for the Eastern District of Wisconsin.

The complaint alleges that throughout the class period defendants knew or recklessly disregarded that their public statements concerning Koss Corporation's financial performance were materially false and misleading. Specifically, defendants made false and/or misleading statements and/or failed to disclose: (1) that certain Company employees had devised and carried out a scheme to defraud investors and divert Company funds potentially exceeding $31 million; (2) that the Company's financial statements and corporate bank account balances had been manipulated to conceal the diversion of corporate funds; (3) that, as a result, the Company's financial results were overstated during the class period; (4) that the Company's financial results were not prepared in accordance with Generally Accepted Accounting Principles ("GAAP"); (5) that the Company lacked adequate internal and financial controls; and (6), as a result of the above, that the Company's financial statements were materially false and misleading at all relevant times.
 

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.