FalconStor Software FALC Stock Purchasers File Securities Fraud Class Action Lawsuit Complaint Against FalconStor.
A securities fraud class action lawsuit has been filed against FalconStor Software, Inc. (“FalconStor Software” or “FalconStor” or “Defendant”) in the United States District Court for the Eastern District of New York on behalf of a class consisting of all purchasers of FalconStor common stock (symbol: FALC) during the period between February 5, 2009 and September 29, 2010, inclusive (the “Class Period”), alleging that FalconStor and certain of its officers and directors made materially false and misleading statements and failed to disclose that FalconStor Software was experiencing weak demand for its products and services and that FalconStor was allegedly making improper payments to secure a contract with a FalconStor customer, purportedly in violation of federal securities laws, according to class action lawsuit news reports.
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