Skip navigation

ATTORNEYS AT LAW

Cases
Who We Are
- Scott+Scott LLP is a nationally recognized law firm headquartered in Connecticut with offices in New York City, Ohio and California. The firm represents individual as well as institutional investors who have suffered from corporate stock fraud. Scott+Scott has participated in recovering billions of dollars and achieved precedent-setting reforms in corporate governance on behalf of its clients. In addition to being involved in complex shareholder securities and corporate governance actions, Scott+Scott also has a significant national practice in antitrust, ERISA, consumer, civil rights and human rights litigation. Through its efforts, Scott+Scott promotes corporate social responsibility… read more
Our Practice
- Securities Fraud + Corporate Governance +
  
  Scott + Scott is a nationally recognized law firm that recovers money for individual and institutional… read more
- Antitrust +
  
  The firm is actively involved in litigating many complex antitrust cases throughout the United States… read more
- Consumer Rights +
  
  Scott + Scott regularly represents aggrieved consumers in a variety of class action cases… read more
- Employee Benefits (ERISA) +
  
  Scott + Scott actively litigates complex class actions across the United States on behalf of corporate employees… read more
Attorneys
- The attorneys in our firm are a diverse and accomplished group, with degrees from a variety of law schools, including Yale University, University of Wisconsin, University of Connecticut, University of Kentucky, New York University, University of Chicago, Temple University, George Washington University, University of Washington, University of San Diego, University of California, Ohio State University, Boston College and Boston University. Many graduated with distinction and were members and editors of their respective schools' law reviews, moot courts or honor fraternities. Several have served federal or state judicial clerkships. Others hold graduate degrees in law, tax or other disciplines… read more
Pressbox
- Scott+Scott LLP maintains a regular media presence, publishing informative articles on a regular basis, as well as appearing frequently in the news… read more
FAQ
- The following questions and answers provide general information about securities class actions, derivitive litigation, and ERISA class actions. They are not legal advice.
- Securities Class Actions +
- Securities Class Actions and the non-U.S. Investor +
- Shareholder Derivative Actions +
- ERISA 401(k)/Pension Retirement Benefit Class Actions +
Contact Us
- Connecticut
  
  Scott+Scott LLP
  156 South Main Street
  P.O. Box 192
  Colchester, CT 06415
  800.404.7770 toll-free
  860.537.5537 voice
  860.537.4432 fax
- California
  
  Scott+Scott LLP
  600 B Street
  Suite 1500
  San Diego, CA 92101
  800.332-2259 toll-free
  619.233.4565 voice
  619.233.0508 fax
- Ohio
  
  Scott+Scott LLP
  12434 Cedar Road
  Suite 12
  Cleveland Heights, OH 44106
  216.229.6088 voice
  216.229.6092 fax
- New York
  
  Scott+Scott LLP
  500 5th Avenue
  Floor 40
  New York, NY 10110
  800-404-7770 toll-free
  212.223.6444 voice
  212.223.6334 fax
- *Los Angeles Annex Office
  
  Scott+Scott LLP
  6424 Santa Monica Boulevard
  Los Angeles, CA 90038
  213.985.1274, 213.985.1278 (fax)
  
  scottlaw@scott-scott.com
  
  UK Tel: 0808 234 1396
Search
- Go

New Cases

CASES

Ambassadors Group, Inc.

Class Period: Feb 8, 2007 to Oct 23, 2007

Lead Plaintiff Deadline: Sep 14, 2009 + Deadline passed

Summary of Case:

A securities class action has been filed against Ambassadors Group, Inc. (EPAX) ("Ambassadors Group" or the "Company") on behalf of all securities purchasers from February 8, 2007 through October 23, 2007, inclusive ("Class Period") in the United States District Court for the Eastern District of Washington.

The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding Ambassadors Group's business prospects. Specifically, defendants misrepresented and/or failed to disclose the following adverse facts: (a) that the Company was experiencing a lower conversion rate from people attending its informational meetings to booking travel; (b) that there was a decrease in the number of enrolled participants for the Company's 2008 travel programs, especially in its international outbound programs; (c) that the Company had utilized a different database in order to promote its travel programs to prospective clients; and (d) as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about the Company and its prospects. As a result of defendants' false and misleading statements, Ambassadors Group stock traded at artificially inflated prices during the Class Period, reaching a high of $40.99 per share on October 18, 2007. Then, on October 22, 2007, Ambassadors Group announced its financial results for the third quarter of 2007, the period ending September 30, 2007. For the quarter, the Company reported net income of $22.5 million and $1.12 fully diluted earnings per share. The Company also announced that "as of October 16, 2007, its net enrolled participants for 2008 travel programs were 26,200 compared to 37,300 participants as of the same date last year for its 2007 programs" and that the "decrease in net enrollments for its 2008 programs will negatively impact its 2008 earnings." In response to this announcement, the price of Ambassadors Group common stock fell $17.73 per share, or approximately 44%, to close at $21.04 per share.

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.