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MILBERG LLP > IMAX Corporation (NASDAQ: IMAX) Shareholder Litigation

IMAX Corporation (NASDAQ: IMAX) Shareholder Litigation

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This is an update on a securities class action involving purchasers of IMAX Corporation on the NASDAQ between February 27, 2003 and July 27, 2007.  Below is information about the allegations.

  • Plaintiffs allege that the defendants, IMAX, Richard L. Gelfond, Bradley J. Wechsler, Francis T. Joyce, and Kathryn A. Gamble (collectively, the “IMAX defendants”), and PricewaterhouseCoopers LLP (“PWC”) (collectively, the“defendants”), issued materially false and misleading statements concerning IMAX’s accounting of theater system revenue.
  • On September 16, 2008, the court denied defendants’ motions to dismiss plaintiffs’ Consolidated Class Action Complaint (“Complaint”) In re IMAX Sec. Litig., 587 F.Supp.2d 471 (S.D.N.Y. 2008).
  • On December 20, 2010, the class certification was denied because the class representative lacked standing.  The court has invited new lead plaintiff motions, deadline for applications for lead plaintiff is January 10, 2011.

If you wish to discuss this matter with us, or have any questions regarding this lawsuit, please fill out the form on the right or contact the following attorney:

Andrei Rado, Esq.
Milberg LLP
One Pennsylvania Plaza, 49th Fl.
New York, NY 10119-0165
Phone number: (800) 320-5081
Email: arado@milberg.com

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