WASHINGTON, July 31 LAWFUEL – Press Release Service — Klafter & Olsen LLP has filed a
class action complaint against Rambus, Inc. (“Rambus”) (Nasdaq: RMBS) in
the U.S. District Court for the Northern District of California (Civil
Action No.: C 06-4629) on behalf of investors who purchased the publicly
traded securities of Rambus during the period from January 16, 2004 through and including July 18, 2006 (the “Class Period”).
The Complaint alleges that Rambus and certain of its officers and
directors violated Sections 10(b) and 20(a) of the Securities Exchange Act
of 1934, and Rule 10b-5 promulgated thereunder, by issuing a series of
materially false and misleading financial statements due to defendants’
undisclosed practice of improperly backdating stock options to benefit
various Rambus executives and directors. Defendants’ manipulation of the
dates for granting of stock options not only improperly benefited Rambus’
executives and/or directors, it also resulted in the overstatement of
Rambus’ reported earnings between 2003 and the first quarter of 2006. As a result, on July 19, 2006, Rambus announced that it will be forced to
restate its previously issued financial statements for fiscal years 2003
through the first quarter of fiscal year 2006.
If you purchased Rambus’ publicly traded securities during the Class
Period (January 16, 2004 – July 18, 2006), you may, no later than September 18, 2006, move to be appointed as a Lead Plaintiff. A Lead Plaintiff is a
representative party that acts on behalf of other class members in
directing the litigation. If you have sustained losses on your purchases of Rambus publicly traded securities during the Class Period, please contact
Klafter & Olsen LLP at http://www.klafterolsen.com or call us at
202/261-3553 for a more thorough explanation of the Lead Plaintiff
selection process and the claims asserted against Rambus.
Klafter & Olsen LLP has offices in Washington D.C. and New York. The
founding partners have over thirty years combined experience representing
plaintiffs and defendants in a wide variety of litigation matters including
securities, antitrust, corporate governance, commercial, Title VII,
trespass, constitutional, and consumer actions. Please visit our website
for more information about the Firm.
Kurt B. Olsen
KLAFTER & OLSEN LLP
1250 Conneticut Ave., Suite 200
Washington, DC 20036