CONSHOHOCKEN, Pa.- LAWFUEL – Law News Network -Sept. 11, 2006–Goldman Scarlato & Karon, P.C., a law firm with offices in Pennsylvania and Ohio, announces that a lawsuit has been filed in the United States District Court for the District of Massachusetts, on behalf of persons who purchased or otherwise acquired publicly traded securities of Aspen Technology, Inc. (“Aspen” or the “Company”) (Nasdaq:AZPN) between February 6, 2006 and September 6, 2006, inclusive, (the “Class Period”). The lawsuit was filed against Aspen and certain officers and directors (“Defendants”).
If you are a member of this class and wish to view a copy of a complaint and join this class action, please e-mail us at email@example.com and request a copy of the complaint and a plaintiff certification. If you are a member of the Class, you may move the Court no later than November 7, 2006 to serve as a lead plaintiff for the Class. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
The complaint alleges that Defendants violated the federal securities laws by issuing a series of materially misleading statements with respect to the backdating of stock option grants. As a result, the Company’s financial statements were not presented in accordance with Generally Accepted Accounting Principles (“GAAP”) for the period 2002 to 2005 and the first three quarters of 2006.
On September 6, 2006, Aspen announced that it would be forced to restate its previously issued financial statements to correct the back dating of certain stock options, by booking approximately $31 million of additional non-cash compensation expense. In reaction to this news, shares fell from $11.56 per share to $10.35 per share, a one-day decline of approximately 10.5%.
If you bought Aspen securities between February 6, 2006 and September 6, 2006, inclusive, and would like to obtain information about the lawsuit, then you are invited to call (800) 668-4130 to speak with an advisor.