Press release from PR Newswire
SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on Their investment in iGATE Corporation of Class Action Lawsuit Investigation - IGTE
Thursday, May 30, 2013
SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on Their investment in iGATE Corporation of Class Action Lawsuit Investigation - IGTE18:05 EDT Thursday, May 30, 2013
NEW YORK, May 30, 2013 /PRNewswire/ -- Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of iGATE Corporation ("iGATE" or the "Company") (NASDAQ: IGTE) (CUSIP: 45169U105) who purchased iGATE common stock between March 14, 2012 and May 21, 2013 (the "Class Period"). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 237.
The investigation concerns whether iGATE and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On May 20, 2013, the Company disclosed that its Board of Directors terminated the employment of President and CEO Phaneesh Murthy, effective immediately after an internal investigation revealed that Murthy had a relationship "with a subordinate employee and a claim of sexual harassment" in violation of iGATE's policy and Murthy's employment contract.
On this news, iGATE securities declined $1.58 per share or nearly 10%, to close at $14.82 per share on May 21, 2013.
The Pomerantz Firm, with offices in New York, Chicago, San Diego, and Florida, 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. See www.pomerantzlaw.com.
CONTACT: Robert S. Willoughby Pomerantz Grossman Hufford Dahlstrom & Gross LLP email@example.com
SOURCE Pomerantz Grossman Hufford Dahlstrom & Gross LLP