NEW YORK, April 5, 2013 (GLOBE NEWSWIRE) -- Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of Panasonic Corp. ("Panasonic" or the "Company") who purchased Panasonic ADR between June 30, 2011 and March 29, 2013 (the "Class Period"). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 237.
The investigation concerns whether Panasonic and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On March 31, 2013, the Wall Street Journal reported that the federal government is investigating potential violations of the Foreign Corrupt Practices Act by the company's subsidiary, Panasonic Avionics. The Company announced on March 28, 2013 that it will delist from the New York Stock Exchange effective April 22, 2013. Upon this news announcement, shares of Panasonic fell $0.63 or 9% to close at $6.71 per share on April 1, 2013.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT: Robert S. Willoughby Pomerantz Grossman Hufford Dahlstrom & Gross LLP email@example.com