The Pomerantz Firm Reminds Force Protection Investors of May 9th Deadline

NEW YORK, May 2, 2008 (Lawfuel) — May 9 is the deadline for
qualified investors of Force Protection, Inc. (“Force Protection” or
the “Company”) (Nasdaq:FRPT) to request that the Court appoint you as
lead plaintiff for the class in the pending class action. Pomerantz
Haudek Block Grossman & Gross LLP (“Pomerantz”) filed a class action
lawsuit in the United States District Court, District of South
Carolina, Charleston Division, against the Company and certain officers
of the Company. The class action was filed on behalf of purchasers of
the securities of the Company during the period from August 14, 2006 –
February 29, 2008, inclusive (the “Class Period”). The complaint
alleges violations of Section 10(b) and Section 20(a) of the Securities
Exchange Act, and Rule 10b-5 promulgated there under. If you wish to
review a copy of the Complaint, to discuss this action, or have any
questions, please contact Teresa L. Webb ([email protected]) of the
Pomerantz Firm at 888.476.6529 (or 888.4-POMLAW), toll free. Those who
inquire by e-mail are encouraged to include their mailing address and
telephone number.

Force Protection and its subsidiaries engage in the manufacture of
ballistic and blast protected vehicles. The company is based in South
Carolina. The complaint alleges that prior to and during the Class
Period, defendants continually boasted that Force Protection’s
dominance in the Mine Resistant Ambush Protected (“MRAP”) vehicles
market was due to its superior product design and rapid delivery rates.
In June 2007, the Inspector General of the Department of Defense
questioned both of these claims and criticized the awarding of
contracts to Force Protection on a sole source basis and without
competitive bidding. The report noted that there were other U.S.
companies that could have competed with Force Protections on both
product capability and faster delivery schedules.

The complaint further alleges the following facts, which were known by
the defendants but concealed from the investing public during the class
period: (1) as a result of the Company’s ongoing problems in meeting
contractual delivery deadlines, the Company would have trouble
competing in the MRAP market; (2) in audit reports, the Defense
Contract Audit Agency had been critical of the Company’s finances and
financial accounting system, which threatened the Company’s eligibility
to compete for government contracts; (3) the Company’s accounting
department suffered from material weaknesses and deficiencies and
lacked the necessary staff and resources to perform its required
functions; (3) contrary to the representations contained in the
Company’s SEC filings, the Company’s internal controls were inadequate
and easily manipulated, and, as a result, multiple areas of the
Company’s internal controls suffered serious deficiencies, including:
(i) the financial closing process; (ii) accounting for inventory and
the associated accounts payable expenses; (iii) stock-based
compensation; and (iv) deferred tax balances; (4) the Company lacked
effective internal controls in its financial reporting process,
required to enable it to properly analyze and/or estimate Force
Protection’s future financial and operational performance; (5)
defendants had caused the Company to falsely report at least its third
quarter 2007 financial results.

As a result of the defendants’ false statements, Force Protection’s
stock price traded at inflated levels during the Class Period and
defendants were able to sell $87.4 million in Force Protection Stock.
However, when the truth about the Company’s operations and financial
statements were revealed, the Company’s shares were hammered by massive
sales, sending them down 88% from their Class Period high.

The Pomerantz Firm, which has offices in New York, Chicago, Washington,
D.C., Columbus, Ohio and the San Francisco Bay area, is acknowledged as
one of the premier firms in the areas of corporate, securities, and
antitrust class litigation. Founded by the late Abraham L. Pomerantz,
known as the dean of the class action bar, the Pomerantz Firm pioneered
the field of securities class actions. Today, more than 70 years later,
the Pomerantz Firm continues in the tradition he established, fighting
for the rights of the victims of securities fraud, breaches of
fiduciary duty, and corporate misconduct. The Firm has recovered
numerous multimillion-dollar damages awards on behalf of class members.

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