Michael Baker Corporation Cohen Milstein has filed a lawsuit seeking class action status on behalf of all persons who purchased the common stock of Michael Baker Corporation (``MBC'' or the ``Company'') (Nasdaq:BKR) between March 19, 2007 and February 22, 2008, inclusive (the ``Class Period''). The sample complaint charges that MBC and certain of its officers and directors violated federal securities laws. Specifically, the Complaint alleges that throughout the Class Period, Defendants made false and misleading statements inflating reported revenue from the Company's energy business segment. After the close of the market on February 22, 2008, the Company announced that it would be filing a restatement of its first, second and third quarter 2007 financial statements to correct errors in MBC's revenue recognition practices in the energy business segment. The Company's February 22, 2008 disclosure revealed, inter alia, that the amount of the restatement might exceed the total earnings reported for the energy business segment for the first nine months of the 2007 fiscal year -- the business segment that accounted for almost 70 percent of the Company's total earnings for that period. The February 22, 2008 announcement disclosed that the Company was still evaluating whether it would need to restate earnings for fiscal year 2006 financial statements. Following the issuance of the Company's February 22, 2008 press release, the price of the Company's common stock dropped from a closing price of $36.10 on February 22, 2008 to a closing price of $27.57 at the end of the next trading day. If you purchased MBC stock during the Class Period, you may, no later than May 12, 2008, request that the Court appoint you as lead plaintiff of the class, if you so choose. There are certain legal requirements to serve as Lead Plaintiff. Any member of the proposed class may move the court to serve as Lead Plaintiff through counsel of their choice or may choose to remain an absent class member. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as Lead Plaintiff. Cohen Milstein has significant experience in prosecuting investor class actions and actions involving securities fraud. The firm has offices in Washington, D.C., New York, Philadelphia, Chicago, San Francisco and London, and is active in major litigation pending in federal and state courts throughout the nation. The firm’s reputation for excellence has repeatedly been recognized by courts which have appointed the firm to lead positions in complex multi-district or consolidated litigation. Cohen Milstein has taken a lead role in numerous important cases on behalf of defrauded investors, and has been responsible for a number of outstanding recoveries which, in the aggregate, total in the billions of dollars. If you have any questions about this notice or the action, or with regard to your rights, please contact: Steven J. Toll, Esq.
Cohen, Milstein, Hausfeld & Toll, P.L.L.C.
1100 New York Avenue, N.W.
West Tower, Suite 500
Washington, D.C. 20005
Telephone: (888) 240-0775 or (202) 408-4600
E-mail: stoll@cmht.com |
