Schatz Nobel Izard P.C. Announces Class Action Lawsuit Against TRM Corp.

HARTFORD, Conn., May 23, 2008 (Lawfuel) — The law firm of
Schatz Nobel Izard P.C., which has significant experience representing
investors in prosecuting claims of securities fraud, announces that a
lawsuit seeking class action status has been filed in the United States
District Court for the District of Oregon on behalf of all persons who
purchased the common stock of TRM Corporation, (“TRM” or the “Company”)
(Nasdaq:TRMM) between March 16, 2006 and May 22, 2007, inclusive (the
“Class Period”).

The Complaint charges that TRM and certain of its officers and
directors violated federal securities laws by issuing materially false
and misleading statements regarding the Company’s financial health and
performance. As alleged in the Complaint, these statements were
materially false and misleading because defendants misrepresented and
failed to disclose: (i) that the Company’s financial results were
artificially inflated due to the failure to timely write down certain
assets, which were materially overvalued in the Company’s financial
statements; (ii) that TRM lacked adequate internal controls and
procedures necessary to ascertain its true financial condition and
worth; and (iii) as a result of the foregoing, the Company’s ability to
continue its operations and remain a going-concern was in serious
doubt. At the end of the Class Period, TRM provided investors with
details about the progress of its restructuring plan and announced new
management positions. Following this disclosure, shares of the
Company’s stock declined dramatically.

If you are a member of the class, you may, no later than July 22, 2008,
request that the Court appoint you as lead plaintiff of the class. A
lead plaintiff is a class member that acts on behalf of other class
members in directing the litigation. 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 make important
decisions which could affect the overall recovery for class members.

While Schatz Nobel Izard P.C. has not filed a lawsuit against the
defendants, to view a copy of the Complaint initiating the class action
or for more information about the case, class action cases in general,
and your rights, please contact Schatz Nobel Izard P.C. toll-free at
(800) 797-5499, or by e-mail at [email protected], or visit our website:
www.snilaw.com.

List your legal jobs on the LawFuel Network
Scroll to Top