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Follow on Google News | Rackable Systems, Inc. Investor Class Action Lawsuit FiledRackable Systems, Inc. Investor Class Action Lawsuit Over Alleged Violations Of Securities Laws Filed +++ Deadline expires on March 17, 2009 +++ Go To -> www.ShareholdersFoundation.com & Never Miss A Deadline +++
By: Shareholders Foundation, Inc. If you purchased or otherwise acquired the securities of Rackable Systems, Inc. between October 30, 2006 and April 4, 2007 and / or currently hold Rackable Systems, Inc. shares, you have certain options and there are strict and short deadlines running (March 17, 2009). You should contact the Shareholders Foundation, Inc. immediately! Email: Mail@ShareholdersFoundation.com or Call us TODAY! Phone: +1-(858)-779- According to the complaint the plaintiff alleges that Rackable Systems, Inc. (Nasdaq-RACK; On January 16, 2007 Rackable reported preliminary financial results for fourth quarter 2006 and that the Company had achieved a gross margin of between only 19.2% and 19.7%. On this news, shares of Rackable declined $12.44 per share, more than 38%, to close on January 17, 2007, at $19.98 per share, on unusually heavy trading volume. Then on February 1, 2007, Rackable shares continued their downward slide when Rackable announced its fourth quarter financial results and reported a non-GAAP gross margin of 19.8%, a significant reduction from 24.9% for the same period in the prior year. On this news, shares of Rackable declined an additional $3.65 per share, nearly 18%, to close on February 2, 2007, at $16.69 per share. On April 4, 2007 Rackable revealed that its GAAP and non-GAAP gross margins for first quarter 2007 would be approximately 30% lower than its previously communicated expectations and that the primary factor impacting gross margins in the first quarter was the intensity of competition in the Company's three largest accounts. On this news, so the lawsuit, shares of Rackable declined $2.64 per share, more than 15%, to close on April 5, 2007, at $14.24 per share, on unusually heavy volume. If you purchased or otherwise acquired the securities of Rackable Systems, Inc. between October 30, 2006 and April 4, 2007 and / or currently hold Rackable Systems, Inc. shares, you have certain options and there are strict and short deadlines running (March 17, 2009). You should contact the Shareholders Foundation, Inc. immediately! Email: Mail@ShareholdersFoundation.com or Call us TODAY! Phone: +1-(858)-779- or send us your information by mail /facsimile: Shareholders Foundation, Inc. Trevor Allen 3111 Camino Del Rio North - Suite 423 - 92108 San Diego Tel:+1-(858)- Fax:+1-(858)- Mail@ShareholdersFoundation.com www.ShareholdersFoundation.com ____________________________________________________________ # # # Advertising. The Shareholders Foundation, Inc. is an investor advocacy group. We do research related to shareholder issues and inform investors of securities class actions, settlements, judgments, and other legal related news to the stock market. At Shareholders Foundation, Inc. we are in contact with a large number of shareholders. We believe that together we can combine the interests of many investors, and use the size of our interest as leverage against the giant corporations. We offer help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Any statements made in press releases, emails or over the phone by any member or personnel employed by Shareholders Foundation, Inc. or by third parties related to the Shareholders Foundation, Inc. is provided for research and guidance purposes only and are not legal advices. The information is provided as a public service. It is not intended as legal advice and should not be relied upon. End
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