Levi & Korsinsky Notifies Investors with Losses in
Itron, Inc. of the April 25, 2011 Lead Plaintiff
Deadline – ITRI
March 09, 2011 06:54 PM Eastern Time
NEW YORK--(EON: Enhanced Online News)--Levi & Korsinsky announces that a class action lawsuit has been
commenced in the United States District Court for the Eastern District of Washington on behalf of purchasers of the
common stock of Itron, Inc. ("Itron" or the "Company") (Nasdaq: ITRI) during the period between April 28, 2010
and February 16, 2011 (the "Class Period").
The complaint alleges that Itron and certain of its executive officers violated federal securities laws by failing to
disclose that (i) Itron improperly recognized revenue on a contract due to an extended warranty obligation; (ii) the
Company's revenue and financial results were overstated during the Class Period; (iii) the Company's financial results
were not prepared in accordance with GAAP; (iv) Itron lacked adequate internal and financial controls; and (v), as a
result, the Company's financial statements were materially misleading.
On February 16, 2011, Itron announced it was restating its financial results to correct improperly recognized revenue
on a contract due to an extended warranty obligation. The restatement reduced total revenue for the first nine months
of 2010 by $6.1 million and both GAAP and non-GAAP diluted earnings per share were reduced by $0.11. The
next day, Itron shares fell $6.33, to close at $57.29.
If you are a member of the class, you have until April 25, 2011 to request that the Court appoint you as lead plaintiff
for the class. Your ability to share in any recovery is not affected by the decision whether or not to serve as a lead
If you have suffered a loss in Itron stock, you may obtain additional information about this lawsuit by contacting
Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (877) 363-5972, or by visiting
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions
involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and
shareholder litigation. For more information, please feel free to contact any of the attorneys listed below. Attorney
advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 15th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171