SunOpta Signs On O’Melveny For Securities Suit

SunOpta Signs On O’Melveny For Securities Suit - 2/20/2009

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2009 News and Press Releases

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HEADLINES \| SETTLEMENTS AND DISMISSALS \| COURT FILINGS LINKS TO OTHER NEWS \| NEWS ARCHIVE	HEADLINES ARCHIVED SETTLEMENTS AND DISMISSALS ARCHIVED

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SunOpta Signs On O’Melveny For Securities Suit
Liz McKenzie

Securities Law 360. February 20, 2009
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EXCERPT: Organic food purveyor SunOpta Inc. has signed on O’Melveny & Myers LLP to join Jones Day as counsel for an ongoing lawsuit alleging that the company misrepresented its financial status to investors to inflate stock prices. The judge granted SunOpta’s motion to substitute the attorneys on Wednesday. In the motion, O’Melveny said the substitution should not cause any delay for the case. Investors filed the lawsuit against SunOpta in January 2008 in the U.S. District Court for the Southern District of New York after the stock price collapsed by nearly 40 percent on Jan. 24, 2008. Before the collapse, SunOpta released reports that overstated its financial results, according to the lawsuit. “During the class period, defendants materially misled the investing public thereby inflating the price of the company’s securities by publicly issuing false and misleading statements and omitting to disclose material facts necessary to make defendants’ statements not false and misleading,” the complaint said. … The case is In re: SunOpta Inc. Securities Litigation., case number 08-cv-933, filed in the U.S. District Court for the Southern District of New York.

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