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Emcore Corp. Handed Class Action Suit

Photonics.com
Dec 2008
Susman Heffner & Hurst LLP has filed a class action on behalf of shareholders who purchased Emcore Corp. common stock from June 12, 2007, through March 17, 2008. Emcore, located in Albuquerque, is a provider of compound semiconductor-based components and subsystems for the broadband, fiber optic, satellite and terrestrial solar power markets. The complaint, filed in the US District Court for the District of New Mexico, alleges that the defendants issued numerous materially false and misleading statements regarding Emcore’s financial condition, business prospects and revenue expectations during the period in question. Specifically, it alleges that Emcore’s public statements regarding its order backlog were false and misleading because they overstated the value of the order backlog in Emcore’s terrestrial solar energy division, resulting in an artificially inflated price for Emcore cstock. On March 18, 2008, the price of Emcore’s stock dropped over 23 percent on news that its largest customer, Green and Gold Energy (GGE), which accounted for $78 million of Emcore’s $86 million backlog in terrestrial solar technology, would not be able to afford those transactions. Those who purchased Emcore stock during the class period can file to join the suit no later than Feb. 23, 2009. Shareholders outside the US may also join the action, regardless of which exchange was used to purchase the securities. To discuss the action contact Matthew T. Heffner at (312) 346-3466 or via e-mail at Mheffner@shhllp.com



GLOSSARY
photonics
The technology of generating and harnessing light and other forms of radiant energy whose quantum unit is the photon. The science includes light emission, transmission, deflection, amplification and detection by optical components and instruments, lasers and other light sources, fiber optics, electro-optical instrumentation, related hardware and electronics, and sophisticated systems. The range of applications of photonics extends from energy generation to detection to communications and...
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