Coughlin Stoia Geller Rudman & Robbins LLP Files Class Action Suit against International Game Technology

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Thu Jul 30, 2009 7:43pm EDT

NEW YORK--(Business Wire)--
Coughlin Stoia Geller Rudman & Robbins LLP ("Coughlin Stoia")
(http://www.csgrr.com/cases/IGT/) today announced that a class action has been
commenced on behalf of an institutional investor in the United States District
Court for the District of Nevada on behalf of purchasers of International Game
Technology ("IGT" or the "Company") (NYSE:IGT) common stock during the period
between November 1, 2007 and October 30, 2008 (the "Class Period"). 

If you wish to serve as lead plaintiff, you must move the Court no later than 60
days from today. If you wish to discuss this action or have any questions
concerning this notice or your rights or interests, please contact plaintiff`s
counsel, Samuel H. Rudman or David A. Rosenfeld of Coughlin Stoia at
800/449-4900 or 619/231-1058, or via e-mail at djr@csgrr.com. If you are a
member of this class, you can view a copy of the complaint as filed or join this
class action online at http://www.csgrr.com/cases/igt/. Any member of the
putative class may move the Court to serve as lead plaintiff through counsel of
their choice, or may choose to do nothing and remain an absent class member. 

The complaint charges IGT and certain of its officers and directors with
violations of the Securities Exchange Act of 1934. IGT is a global gaming
company that specializes in the design, manufacture, and marketing of electronic
gaming equipment and network systems, as well as licensing and services, in
North America and internationally. 

The complaint alleges that during the Class Period, defendants issued materially
false and misleading statements regarding the Company`s business prospects.
According to the complaint, defendants misrepresented and/or failed to disclose
the following adverse facts: (i) that defendants had diverted substantial funds
to the development of the Company`s SB and AVP gaming platforms, which
materially compromised the Company`s growth prospects and undermined defendants`
optimistic statements; (ii) that IGT was unable to develop and market its SB and
AVP gaming platforms within the time frame that defendants had represented to
investors due to increasingly challenging market conditions and mounting costs;
(iii) that defendants` positive representations concerning the Company`s shift
to non-machine based operations were undermined by a slowdown in the gaming
industry, the impact of which defendants minimized; and (iv) that defendants
concealed that, as a result of the foregoing, it was not likely that IGT would
achieve or exceed its earnings guidance. 

As alleged in the complaint, the inflation in the price of IGT stock came out in
response to a series of disclosures by IGT. 

Plaintiff seeks to recover damages on behalf of all purchasers of IGT common
stock during the Class Period (the "Class"). The plaintiff is represented by
Coughlin Stoia, which has expertise in prosecuting investor class actions and
extensive experience in actions involving financial fraud. 

Coughlin Stoia, a 190-lawyer firm with offices in San Diego, San Francisco, Los
Angeles, New York, Boca Raton, Washington, D.C., Philadelphia and Atlanta, is
active in major litigations pending in federal and state courts throughout the
United States and has taken a leading role in many important actions on behalf
of defrauded investors, consumers, and companies, as well as victims of human
rights violations. The Coughlin Stoia Web site (http://www.csgrr.com) has more
information about the firm. 







Coughlin Stoia Geller Rudman & Robbins LLP
Samuel H. Rudman, 800-449-4900
or
David A. Rosenfeld
djr@csgrr.com

Copyright Business Wire 2009

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