Idearc Inc. Investor Class Action Lawsuit

May 18, 2009 - PRLog -- An investor of Idearc Inc. (Public, OTC-IDARQ)  has filed a proposed securities  class-action lawsuit in the U.S. District Court of Texas on behalf of investors who purchased shares of Idearc Inc. (Public, OTC-IDARQ)  between Aug. 10, 2007, and March 31 against Idearc Inc. over alleged violations of the federal security laws.

If you purchased shares of Idearc Inc. (Public, OTC-IDARQ)  during the period between August 10, 2007 and March 31, 2009 you have certain options and there are strict and short deadlines running. (Deadline: July 07, 2009). You should contact the Shareholders Foundation, Inc. immediately at:

Email: mail@shareholdersfoundation.com

Or call us at: +1 (858) 779 - 1554

According to the complaint the plaintiff alleges that the company and executive officers made false statements to the investing public about the company's outlook even as bad debts continued to pile up when in reality the company loosened credit polices to establish revenue that “would not be collectable.” When the nature of the credit policies were revealed to the publics Idearc's stock took several precipitous drops, so the lawsuit. According to the law firm no class has yet been certified in the above action and until a class is certified, shareholders are not represented by counsel unless they retain one. Dallas-based Idearc Inc. (OTC- IDARQ.PK) reportedly was not immediately available for comment. Idearc Inc. is a yellow pages directories publisher in the United States. The products of the Idearc Inc include print yellow pages, print white pages, Superpages.com, the online local search resource, and Superpages Mobile, the information directory for wireless subscribers. Idearc Inc is located in DFW Airport, TX and had $3.189billion in total revenue with $429million net income in 2007 and $2.973billion in total revenue with $183million net income in 2008.  On March 31, 2009 Idearc Inc. filed voluntary petitions for reorganization under Chapter 11. The Shares of Idearc Inc. (Public, OTC-IDARQ) closed on Friday, May 15, 2009 at $0.06 per share.

If you purchased shares of Idearc Inc. (Public, OTC-IDARQ)  during the period between August 10, 2007 and March 31, 2009 you have certain options and there are strict and short deadlines running. (Deadline: July 07, 2009). You should contact the Shareholders Foundation, Inc. immediately at:

Email: mail@shareholdersfoundation.com

Or call us at: +1 (858) 779 - 1554

Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423 -
92108 San Diego
Tel:+1-(858)-779-1554
Fax:+1-(858)-605-5739
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.