Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of investors who purchased LeapFrog Enterprises, Inc. (“LeapFrog” or the “Company”) (NYSE: LF) securities between March 5, 2014 and January 22, 2015.
The complaint alleges that defendants failed to disclose that the Company was experiencing a decline in consumer demand, that retailers were overstocked with the Company’s LeapPad products and that the Company’s new LeapTV video game system launch and shipment was delayed by developmental issues. On January 22, 2015, LeapFrog announced its preliminary financial results for the third quarter of 2014 that were significantly below the Company’s stated expectations and financial guidance. As a result, the Company’s stock dropped by almost 35%. If you suffered a loss in LeapFrog you have until March 24, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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