The following statement was issued today by the law firm of Barroway Topaz Kessler Meltzer & Check, LLP:
Notice is hereby given that a class action lawsuit was filed in the United States District Court for the District of Arizona on behalf of purchasers of securities of Insight Enterprises, Inc. (Nasdaq: NSIT) ("Insight" or the "Company") between April 22, 2004 and February 6, 2009 inclusive (the "Class Period").
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Barroway Topaz Kessler Meltzer & Check, LLP (Darren J. Check, Esq. or David M. Promisloff, Esq.) toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at info@btkmc.com" target=_new>info@btkmc.com.
The Complaint charges Insight and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Insight provides brand-name information technology hardware, software, and services to large enterprises, small to medium-sized businesses, and public sector institutions in North America, Europe, the Middle East, Africa, and Asia-Pacific. More specifically, the Complaint alleges that the Company failed to disclose and misrepresented the following material adverse facts which were known to defendants or recklessly disregarded by them: (1) that the Company committed errors in the manner in which it accounted for certain aged trade credits; (2) that the Company's financial statements were not prepared in accordance with Generally Accepted Accounting Principles ("GAAP"); (3) that the Company lacked adequate internal and financial controls; and (4) that, as a result of the foregoing, the Company's financial statements were materially false and misleading at all relevant times.
On February 9, 2009 the Company shocked investors when it announced that it would be restating previously reported earnings because management had identified errors in the way it historically accounted for certain aged trade credits. Upon the release of this news, the Company's shares declined $2.85 per share, or 43.8 percent, to close on February 9, 2009 at $3.05 per share, on unusually heavy trading volume.
Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Barroway Topaz Kessler Meltzer & Check which prosecutes class actions in both state and federal courts throughout the country. Barroway Topaz Kessler Meltzer & Check is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world.
For more information about Barroway Topaz Kessler Meltzer & Check or to sign up to participate in this action online, please visit www.btkmc.com
If you are a member of the class described above, you may, not later than May 26, 2009, move the Court to serve as lead plaintiff of the class, if you so choose. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
SOURCE Barroway Topaz Kessler Meltzer & Check, LLP
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