Class Action vs. Cutera, Inc. Handled by Schiffrin

Class Action News

Notice is hereby given that a class action lawsuit was filed in the United States District Court for the Northern District of California on behalf of all common stock purchasers of Cutera, Inc. (NASDAQ: CUTR) ("Cutera" or the "Company") from January 31, 2007 to May 7, 2007, inclusive (the "Class Period").

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 Schiffrin Barroway Topaz & Kessler, LLP (Darren J. Check, Esq. or Richard A. Maniskas, Esq.) toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at info@sbtklaw.com.

The Complaint charges Cutera and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Cutera is a global medical device company specializing in the design, development, manufacture, marketing and servicing of laser and other light-based aesthetics systems for practitioners worldwide. More specifically, the Complaint alleges that the Company failed to disclose and misrepresented the following material adverse facts which were known to defendants or recklessly disregarded by them: (1) that the Company's sales force expansion, specifically with regard to the development of the junior sales program, was unsuccessful; (2) that the Company was experiencing unusually high employee turnover in its sales force; (3) that, as a result of the foregoing, the Company's sales force in North America was under-trained and ill-equipped to sell the Company's products in the marketplace; (4) as such, and contrary to earlier representations, the Company was not going to experience a 25 percent revenue growth and was going to experience a dreadful quarter of revenue generation; (5) that the Company lacked adequate internal and financial controls; and (6) that, as a result of the foregoing, the Company's financial and operational projections were lacking in a reasonable basis when made.

Throughout the Class Period, the Company continued to issue press releases that highlighted positive news, although the Company failed to disclose any problems that it was experiencing. Therefore, investors were shocked on April 5, 2007, when the Company issued a press release stating that the Company expected revenue of only $23 million for the first quarter of 2007, significantly below the Company's earlier guidance of $26 million, provided months earlier. On the release of this news, shares of the Company's stock immediately declined $11.72 per share, or over 30.5 percent, to close on April 5, 2007 at $26.67 per share, on unusually heavy trading volume. The value of the Company's shares continued to decline over the following two trading days, eventually closing on April 10, 2007 at $24.85 per share. The cumulative effect of the Company's shocking news over this three day trading period was a total decline of $13.54 per share, or a loss of over 35 percent of their value.

Then on May 7, 2007, the Company finally disclosed that its dismal operating and financial results for the quarter was primarily due to the unsuccessful implementation of a junior sales program and extremely high employee turnover in the Company's sales force. Upon the release of this news, shares of the Company's stock declined 19.97 percent to close on May 8, 2007 at $23.40 per share.

Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Schiffrin Barroway Topaz & Kessler which prosecutes class actions in both state and federal courts throughout the country. Schiffrin Barroway Topaz & Kessler is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world.

For more information about Schiffrin Barroway Topaz & Kessler or to sign up to participate in this action online, please visit www.sbtklaw.com

If you are a member of the class described above, you may, not later than June 18, 2007, move the Court to serve as lead plaintiff of the class, if you so choose. 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 Schiffrin Barroway Topaz & Kessler or other counsel of your choice, to serve as your counsel in this action.

CONTACT:
Schiffrin Barroway Topaz & Kessler, LLP
Darren J. Check, Esq.
Richard A. Maniskas, Esq.
280 King of Prussia Road
Radnor, PA 19087
1-888-299-7706 (toll free) or 1-610-667-7706
Or by e-mail at Email Contact

Related listings

  • Class Action hits Google and YouTube

    Class Action hits Google and YouTube

    Class Action News 05/07/2007

    England's Football Association Premier League Ltd. and independent music publisher Bourne Co., are hitting Google and YouTube with a proposed class-action lawsuit alleging massive copyright infringement and encouraging other content owners whose vide...

  • Morgan's wealth group settles bias suit

    Morgan's wealth group settles bias suit

    Class Action News 04/26/2007

    [##_1L|1000087055.jpg|width="90" height="119" alt=""|_##]Morgan Stanley's Global Wealth Management Group has announced it will pay at least $46 million to settle a class action filed by eight current and former female financial advisers and registere...

  • Banks hit TJ Maxx owner with class-action lawsuit

    Banks hit TJ Maxx owner with class-action lawsuit

    Class Action News 04/26/2007

    The Massachusetts Bankers Association said Tuesday it is filing a class action lawsuit against TJX Companies Inc. after thieves stole data from at least 45.7 million credit and debit cards used at the retailer's stores over 17 months.The association ...

New York Commercial Litigation Law Firm - Woods Lonergan PLLC

Founded in 1993 by Managing Partner James F. Woods, Woods Lonergan PLLC has built a strong reputation as a resourceful and industrious firm that provides clients with clear, concise, and straightforward answers to their most challenging legal issues. Partner Lawrence R. Lonergan, who joined the firm in 2008, has been a friend and colleague to Mr. Woods for over 40 years and shares the same business philosophy. Woods Lonergan PLLC’s collective experience and expertise enables the firm to expeditiously and effectively analyze the increasing challenges clients face in an evolving business and legal world, in many instances, avoiding unnecessary time and expense to our clients. Our mission is simple: provide cutting-edge expertise and sound advice in select areas of the law for corporate and business clients. We thrive on providing each client with personalized attention, forceful representation, and a collaborative team effort that embraces collective knowledge.

Business News

New York & New Jersey Family Law Matters We represent our clients in all types of proceedings that include termination of parental rights. >> read