Gardy & Notis, LLP Files Securities Fraud Class Action Against Huron Consulting Group,...

Gardy & Notis, LLP Files Securities Fraud Class Action Against Huron Consulting
Group, Inc. -- HURN

ENGLEWOOD CLIFFS, N.J., Aug. 17, 2009 (GLOBE NEWSWIRE) -- Gardy & Notis, LLP has
filed a securities fraud class action lawsuit on behalf of all investors who
purchased or otherwise acquired Huron Consulting Group, Inc. (Nasdaq:HURN)
common stock during a class period of April 27, 2006 to and including July 31,
2009. The lawsuit was filed in the United States District Court for the Northern
District of Illinois and charges defendants Huron, Gary E. Holdren (CEO), Gary
L. Burge (CFO) and Wayne Lipski (CAO) with issuing a series of materially false
and misleading statements in violation of Section 10(b) and 20(a) of the
Securities Exchange Act and SEC Rule 10b-5.

The complaint alleges that defendants failed to disclose: (1) that shareholders
of four businesses that Huron acquired between 2005-2007 redistributed portions
of their acquisition-related payments among themselves and to certain Huron
employees; (2) that, as a result, Huron understated its non-cash compensation
expenses; (3) that Huron's financial statements were not prepared in accordance
with Generally Accepted Accounting Principles ("GAAP"); (4) that Huron lacked
adequate internal and financial controls; and (5) as a result of the above,
Huron's financial statements were materially false and misleading at all
relevant times.

On July 31, 2009, Huron shocked investors when it revealed that its financial
statements for the fiscal years 2006, 2007, 2008, and the fiscal first quarter
of 2009, should no longer be relied upon and will have to be restated as a
result of its accounting for certain acquisition-related payments. Huron further
disclosed that, as a result, aggregate net profit for the period dropped to just
$63 million from $120 million. As a result of this news, shares of Huron
declined $30.66 per share, or 69.13%, to close on August 3, 2009, at $13.69 per
share.

Plaintiff seeks to recover damages on behalf of himself and all other individual
and institutional investors who purchased Huron securities between April 27,
2006 and July 31, 2009, excluding defendants and their affiliates. Plaintiff is
represented by Gardy & Notis, LLP, a law firm with extensive experience in
prosecuting class actions and actions involving corporate fraud.

If you purchased Huron common stock during the Class Period, you may, not later
than October 5, 2009, move the court to serve as lead plaintiff of the class, if
you so choose. A lead plaintiff is a representative party that acts on behalf of
other class members in directing the litigation, and you must meet certain legal
requirements to serve as a lead plaintiff.

For more information regarding the lawsuit, or to obtain a copy of the
complaint, please contact plaintiff's counsel, Charles A. Germershausen at Gardy
& Notis, LLP, by telephone at 201-567-7377 or email to
cgermershausen@gardylaw.com.

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CONTACT: Gardy & Notis, LLP
Charles A. Germershausen
201-567-7377
Fax: 201-567-7337
cgermershausen@gardylaw.com