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Bronstein, Gewirtz & Grossman, LLC Announces That a Class Action Has Been Filed Against Immersion Corporation

Sep 4, 2009 - 12:36:01 PM

News Source MARKET WIRE

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NEW YORK, NY -- (Marketwire) -- 09/04/09 -- Bronstein, Gewirtz & Grossman, LLC announcesthat a class action has been filed in the United States District Court forthe Northern District of California on behalf of those who purchased orotherwise acquired stock of Immersion Corporation ("Immersion" or the"Company") (NASDAQ: IMMR), during the period from May 3, 2007 through andincluding June 30, 2009 (the "Class Period").

The Complaint charges that defendant violated federal securities laws. Thecomplaint alleges defendants failed to disclose that the Company's revenuerecognition practices in its medical line of business were improper. As aresult, Immersion's stock was artificially inflated during the ClassPeriod, with share prices reaching as high as $20.50 on July 13, 2007. OnJuly 1, 2009, Immersion issued a press release announcing that the auditCommittee of the Company's Board was conducting an internal investigationinto certain previous revenue transactions, which could "raise issues withrespect to it previously -- reported financial information, which could bematerial." The stock dropped approximately $3.80 per share that day onthis news.

No Class has yet been certified in the above action. If you wish to reviewa copy of the Complaint, to discuss this action, or have any questions,please contact either Peretz Bronstein or Eitan Kimelman of Bronstein,Gewirtz & Grossman, LLC at 212-697-6484 or via email eitan@bgandg.com.Those who inquire by e-mail are encouraged to include their mailing addressand telephone number. November 2, 2009 is the deadline for investors toseek a lead plaintiff appointment.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Ourprimary expertise is the aggressive pursuit of litigation claims on behalfof our clients. In addition to representing institutions and otherinvestor plaintiffs in class action security litigation, the firm'sexpertise includes general corporate work, private securities offerings,and securities arbitration.

Contact:
Peretz Bronstein or Eitan Kimelman
Bronstein, Gewirtz & Grossman, LLC
212-697-6484
Email Contact



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