If You Purchased Quest Software, Inc. (“Quest”) Common Stock On The Open Market During The Period November 9, 2001 Through July 3, 2006, Inclusive (The “Class Period”) And Were Damaged, Your Rights May Be Affected By A Class Action Settlement.
A class action settlement has been reached in a lawsuit pending against Quest Software in the United States District Court for the Central District of California (captioned Middlesex Retirement System v. Quest Software, Inc., Case No. CV 06-6863-DOC (RNBx)) alleging that Quest Software violated the Securities Exchange Act of 1934 by making materially false and misleading statements and omissions regarding Quest’s financial condition during the period from November 9, 2001 through July 3, 2006, according to the Quest Software Class Action Settlement Notice.
The Quest Software class action lawsuit reportedly alleges, among other things, that Quest Software did not properly account for stock option grants that had been issued at prices which were below fair market value on the actual date that the grant was approved, which caused, among other things, Quest’s financial statements to be materially false and misleading in that they failed to accurately reflect Quest’s compensation expenses, resulting in Quest’s operating and net income to be overstated.
The Quest Software class action settlement reportedly provides, among other things, that Quest Software will provide for a fund of twenty nine million four hundred thousand dollars ($29,400,000.00) plus the costs of providing Notice to the Class, plus earned interest for the benefit of Quest Software Settlement Class Members who purchased Quest common stock on the open market during the Class Period.
For more information on the Quest Software class action lawsuit settlement and potential settlement benefits, call the Quest Software class action settlement claims administrator at (888) 356-0272, send an email to info@QuestSoftwareClassActionSettlement.com or visit the Quest Software class action settlement website:
www.questsoftwareclassactionsettlement.com
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