AuthenTec share price plunged 60% after the company revealed it had misrepresented its finances, shareholders claim in Orlando Federal Court. AuthenTec, a semiconductor company, makes fingerprint access-control devices.
Shareholders say directors of SpaceDev are selling the company too cheaply to Sierra Nevada Corp., for $38 million, or 70 cents a share. The class action was filed in Delaware Chancery Court.
Noah Education Holdings inflated its share price through false and misleading statements in its IPO statement and prospectus, shareholders claim in Manhattan Federal Court.
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