Insight Enterprises, Inc., Lawsuit

NSIT

Insight Enterprises, Inc., NSIT Securities Stock Fraud

Company:	Insight Enterprises, Inc.,
Ticker Symbol:	NSIT
Class Period:	Jan-30-07 to Feb-6-09
Date Filed:	Mar-24-09
Lead Plaintiff Deadline:	May-23-09
Court:	District of Arizona
Allegations:

A class action lawsuit has been filed in the United States District Court for the District of Arizona on behalf of a class consisting of all persons or entities who purchased or otherwise acquired the securities of Insight Enterprises, Inc. ("Insight Enterprises" or the "Company"), between January 30, 2007 and February 6, 2009, inclusive (the "Class Period").

The Complaint charges Insight Enterprises and certain of the Company's current and former executive officers with violations of federal securities laws. Insight Enterprises provides brand-name information technology hardware, software and services to large enterprises, small-to medium-sized businesses, and public sector institutions in North America, Europe, the Middle East, Africa and Asia-Pacific. The Complaint alleges that throughout the Class Period defendants knew or recklessly disregarded that their public statements concerning Insight Enterprises's business, operations and prospects were materially false and misleading. Specifically, the Complaint alleges that defendants' public statements were false and misleading or failed to disclose or indicate the following: (1) that the Company was improperly accounting for trade credits; (2) that, as a result, the Company misstated its financial results during the Class Period; (3) that the Company's financial results were not prepared in accordance with Generally Accepted Accounting Principles; (4) that the Company lacked adequate internal and financial controls; and (5) as a result of the above, the Company's financial statements were materially false and misleading at all relevant times.

On February 9, 2009, Insight Enterprises shocked the market when it revealed that the Company's management and the Audit Committee of the Board of Directors had determined that Insight Enterprises would have to restate its previously reported earnings as a result of its historical accounting treatment of aged trade credits. The Company further disclosed that the restatement pertained to the release of certain aged trade credits from its balance sheet to its statement of earnings prior to the complete release of the underlying liabilities under applicable legal requirements. Insight Enterprises announced that it expects to restate financial statements included in the Company's most recently filed Annual Report on Form 10-K, for the year ended December 31, 2007, and in the Quarterly Reports on Form 10-Q for the first three quarters of fiscal year 2008. On this news, shares of Insight Enterprises declined $2.85 per share, more than 48%, to close on February 9, 2009, at $3.05 per share on unusually heavy trading volume.

Subsequently, the Company further disclosed that on March 19, 2009, the Company received an informal inquiry from the Securities and Exchange Commission requesting certain documents and information relating to its historical accounting treatment of aged trade credits.

The plaintiff seeks to recover damages on behalf of class members.

If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.

Insight Enterprises, Inc., NSIT Securities Fraud Legal Help

If you have suffered from financial losses, you may qualify for damages or remedies that may be awarded in a possible Insight Enterprises, Inc., securities class action lawsuit. Please click the link below to submit your complaint for a free evaluation. Related Law Suits

Insight Enterprises, Inc., Law Suit and Settlement

Opnext, Inc. Law Suit and Settlement

EnerNOC, Inc. Law Suit and Settlement

Fifth Third Bancorp Law Suit and Settlement

MRV Communications, Inc. Law Suit and Settlement

Carter’s Inc. Law Suit and Settlement

Anadigics, Inc Law Suit and Settlement

AtriCure, Inc Law Suit and Settlement

PFF Bancorp Law Suit and Settlement

H&R Block, Inc. Law Suit and Settlement

See more stories from this source.

Class Action Law Suits

Newsworthy Law Suits
Defective Products Lawsuits
Discrimination Lawsuits
Drug & Medical Claims Lawsuits
Food & Dietary Supplement Lawsuits
Insurance Lawsuits
Malpractice Lawsuits
Personal Injury Lawsuits
Real Estate Lawsuits
Investment Fraud Lawsuits

is===1 Lawyers! Become an Approved Expert to Answer Questions.

Apply Now!
You'll get lots of targetted traffic to your website and new client leads!