Stull, Stull & Brody Announces Class Action on Behalf of Shareholders of Pixar
Market Wire, November, 2005
Notice is hereby given that a class action has been commenced in the United States District Court for the Northern District of California on behalf of purchasers of the publicly traded securities of Pixar Inc. ("Pixar" or the "Company") (NASDAQ: PIXR) between January 18, 2005 and June 30, 2005 (the "Class Period").
Stull, Stull & Brody has substantial experience representing employees who suffered losses from purchases of their employer's stock in their 401(k) plans. If you bought Pixar's stock through your Pixar retirement account and have information or would like to learn more about these claims, please contact us.
The complaint alleges that Pixar violated federal securities laws by making false or misleading public statements. Specifically, the Complaint alleges that Pixar made improper projections concerning the expected sales of "The Incredibles" videos given recent trends in the home video market. On June 30, 2005, Pixar lowered its 2Q05 earnings guidance to $0.10 per diluted share from $0.15, as a result of disappointing sales of "The Incredibles" home video units and an increase in Pixar's reserves for video returns. On this news, Pixar stock fell from a close of $50.05 per share on June 30, 2005, to close at $43.06 per share on July 1, 2005. On August 26, 2005, Pixar announced that the SEC had commenced an investigation in connection with Pixar's reported sales of "The Incredibles" videos.
If you purchased Pixar common stock during the Class Period, you may request that the Court appoint you as lead plaintiff by 60 days from December 20, 2005. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Stull, Stull & Brody, or other counsel of your choice, to serve as your counsel in this action. Stull, Stull & Brody has litigated many class actions for violations of securities laws in federal courts over the past 30 years and has obtained court approval of substantial settlements on numerous occasions. Stull, Stull & Brody maintains offices in both New York and Los Angeles.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Tzivia Brody, Esq. at Stull, Stull & Brody by e-mail at SSBNY@aol.com, by calling toll-free 1-800-337-4983, or by fax at 212/490-2022, or by writing to Stull, Stull & Brody, 6 East 45th Street, New York, NY 10017. You can also visit our website at www.ssbny.com.
Contact: Tzivia Brody, Esq Stull, Stull & Brody toll-free 1-800-337-4983
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