CLASS ACTION LAWSUIT AGAINST JARDEN CORP
The law firm of Schatz & Nobel, P.C., which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Southern District of New York on behalf of all persons who purchased or acquired the publicly traded securities of Jarden Corp. (“Jarden” or the “Company”) (NYSE: JAH) between June 29, 2005 and January 11, 2006, inclusive, (the "Class Period"). Also included are all those who acquired Jardin through its acquisition of Holmes Group, Inc. ("Holmes") .
The Complaint alleges defendants violated federal securities laws by issuing a series of materially false statements regarding Jarden’s financial condition. Specifically, defendants failed to disclose the following: (i) that the merger between Jarden and Holmes was plagued by integration problems; (ii) that the statements concerning growth from the Holmes acquisition were inherently unreliable because Holmes had no reasonable way to repeat its performance in 2005 due to the loss of tens of million of dollars in revenue from a deal Holmes had with Procter & Gamble; and (iii) that Jardin’s statements concerning the Holmes acquisition were based on overly optimistic forecasts. On January 12, 2006, prior to the opening of the market, Jarden provided a business update for fiscal 2005 as well as its outlook for fiscal 2006. Therein, the Company stated that Holmes' profit margins and product mix were not what the market had been led to expect. On this news, shares of Jarden fell $3.37 per share, or 11%, to close at $27.05 per share on January 12, 2006. If you are a member of the class, you may, no later than April 4, 2006, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members, including decisions concerning settlement. The securities laws require the Court to consider the class member(s) with the largest financial interest as presumptively the most adequate lead plaintiff(s).
While Schatz & Nobel has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, class action cases in general, and your rights, please contact Schatz & Nobel toll-free at (800) 797-5499, or by e-mail at firstname.lastname@example.org, or visit our website: www.snlaw.net.