updated 11/22/2010 2:15:17 AM ET 2010-11-22T07:15:17

NEW YORK, Nov. 19, 2010 (GLOBE NEWSWIRE) -- The Rosen Law Firm reminds investors of the important November 30, 2010 lead plaintiff deadline in the class action lawsuit the firm filed on behalf of purchasers of FalconStor Software, Inc. ("FalconStor" or the "Company") (Nasdaq:FALC) common stock during the period beginning February 5, 2009 through September 29, 2010 (the "Class Period") seeking remedies under the federal securities laws.

To join the class action against FalconStor, go to the website at http://www.rosenlegal.com or call Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653. You may also email lrosen@rosenlegal.com or pkim@rosenlegal.com for information on the class action.  

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE.  YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.

The Complaint alleges that FalconStor and certain of its officers and directors violated federal securities laws by issuing false and misleading statements about the Company's financial condition and prospects. The Complaint asserts that defendants failed to disclose that FalconStor was making improper payments to secure a contract with at least one of its customers; the Company was experiencing weak demand for its products and services; and consequently defendants lacked a reasonable basis for their statements about the Company's prospects. The Complaint asserts that when the truth was disclosed to the market on September 29, 2010, the price of FalconStor stock fell, damaging investors.

If you wish to serve as lead plaintiff, you must move the Court no later than November 30, 2010.  A lead plaintiff is a representative party that acts on behalf of other class members in directing and overseeing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Laurence Rosen, Esq. or Phillip Kim, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at lrosen@rosenlegal.com or pkim@rosenlegal.com. You may also visit the firm's website at http://www.rosenlegal.com .

The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

Discuss:

Discussion comments

,

Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 2.48%
$30K home equity loan FICO 5.80%
$75K home equity loan FICO 4.54%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.57%
13.57%
Cash Back Cards 17.91%
17.91%
Rewards Cards 17.15%
17.15%
Source: Bankrate.com