Class Period: Dec 17, 2006 to Dec 18, 2011
Lead Plaintiff Deadline: Apr 6, 2012 + Deadline passed
Summary of Case:
On February 6, 2012, Scott+Scott LLP filed class action has been filed against Xcelera Inc. ("Xcelera" or the "Company") on behalf of the shareholders of Xcelera who sold common stock ("Common Stock") to any of the defendants between December 17,2010 to December 18, 2010. This case has been filed in the USDC - District of Connecticut.
If you sold common stock of Xcelera during the Class Period and wish to serve as a lead plaintiff in the action, you must move the Court no later than 60 days from today. Any member of the investor class may move the Court to serve as lead plaintiff through counsel of its choice, or may choose to do nothing and remain an absent class member. If you wish to discuss this action or have questions concerning this notice or your rights, please contact Scott+Scott (email@example.com, (800) 404-7770, (860) 537-5537 for more information. There is no cost or fee to you.
The complaint filed in the action charges that defendants deliberately refused to make filings required by the federal securities law, or to otherwise make any information available concerning Xcelera's operations, thereby destroying the Company's trading value and causing the eventual de-registration of the Company's Common Stock. Defendants are alleged to have taken advantage of this state of affairs to buy out minority shareholders at a discounted price by commencing a tender offer on about December 17, 2010 to purchase Xcelera Common Stock for $0.25 per share. Plaintiff alleges that Defendants failed to disclose material facts in connection with the tender offer.
Scott+Scott has significant experience in prosecuting major securities, antitrust and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals and other entities worldwide.
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.