Lawfuel – The Law Newswire – NEW YORK, June 4, 2007 — Kirby McInerney & Squire, LLP announces that a class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of all persons who purchased or otherwise acquired the publicly traded securities of Cutera, Inc. (“Cutera” or the “Company”) (Nasdaq:CUTR) between January 31, 2007 and April 4, 2007, inclusive, (the “Class Period”).
The lawsuit alleges that Cutera and certain of its officers and
directors violated Federal Securities laws by making misleading
statements assuring the investing public that increased sales efforts
and other corporate developments would lead to extraordinary growth in
the first quarter of 2007, and for the entire year; lead to 25% revenue
growth for the first quarter of 2007 and for the full year, 33% growth
in net income for the first quarter of 2007, and 25% growth in net
income for the full year. This announcement was followed shortly
thereafter by unusually large stock sales by Cutera insiders.
On April 5, 2007, defendants announced that revenues and earnings for
the first quarter of 2007 would not increase 25%, as stated just weeks
before, but rather would materially decrease. Defendants offered no
cogent explanation for this reversal. On this news, Cutera shares
dropped $11.72 per share.
If you are a member of the proposed class, you may, no later than June
18, 2007, request that the Court appoint you as lead plaintiff of the
class. Although your ability to share in any recovery is not affected
by the decision whether or not to seek appointment as a lead plaintiff,
lead plaintiffs can participate in important decisions which could
affect the recovery for class members.
If you wish to discuss this action, or have any questions concerning
this notice or your rights, please contact us, toll free, at (888) 529
4787 or by email at [email protected]
Kirby McInerney & Squire, LLP has specialized in complex litigation,
including securities class actions, for several decades. The firm has
repeatedly demonstrated its expertise in this field, and has been
recognized by various courts which have appointed the firm to major
positions in consolidated and multi-district litigation. The firm’s
efforts on behalf of shareholders in securities litigation have
resulted in recoveries totaling hundreds of millions of dollars, and
the firm’s achievements and quality of service have been chronicled in
numerous published decisions. More information about the firm, class
actions in general, or about the role of the lead plaintiffs in a
securities class action can be obtained through Kirby McInerney &
Squire, LLP’s website at http://www.kmslaw.com.
CONTACT: Kirby McInerney & Squire, LLP
830 Third Avenue, 10th Floor
New York, NY 10022