Faruqi amp;; Faruqi, LLP Reminds Investors To Contact the Firm Regarding the Class Action Lawsuit It Filed Against Dyneg

^{Published on 2012-04-25 14:14:22 - Market Wire}
 

Faruqi & Faruqi, LLP Reminds Investors To Contact the Firm Regarding the... -- NEW YORK, April 25, 2012 /PRNewswire/ --

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NEW YORK, April 25, 2012 /PRNewswire/ -- Faruqi & Faruqi, LLP has filed a class action lawsuit in the United States District Court for the Southern District of New York, case no. 12 Civ. 2307, on behalf of all persons who purchased Dynegy Inc. ("Dynegy" or the "Company") (NYSE: [ DYN ]) common stock between September 2, 2011 and March 9, 2012 inclusive (the "Class Period").

(Logo: [ http://photos.prnewswire.com/prnh/20120119/MM38856LOGO ] )

The complaint alleges that defendants knew or recklessly failed to inform investors that Dynegy's wholly-owned subsidiary fraudulently transferred direct ownership in one of Dynegy's indirectly owned subsidiaries directly to Dynegy.

On March 9, 2012, a bankruptcy examiner disclosed that Dynegy improperly acquired direct ownership of the indirectly owned subsidiary through a fraudulent transfer.  This news caused Dynegy stock to drop approximately 35% by the close of the business day.  Then, on April 4, 2012, Dynegy announced that it had resolved the Company's disputes with major creditors.  On this news, Company stock plummeted by over 25%, closing at $0.39 per share.

On April 5, 2012, Dynegy received a notice from the New York Stock Exchange ("NYSE") that the Company failed to comply with the NYSE's continued listing standard. Unless Dynegy's stock regains values above $1 per share for any consecutive 30-day trading period, it will be delisted in six months from the notification date. Dynegy closed at $0.33 on April 24, 2012.

If you purchased Dynegy stock between September 2, 2011 and March 9, 2012, you may, not later than May 29, 2012, move the court to serve as lead plaintiff of the class.  

Request more information now by clicking here:  [ www.faruqilaw.com/DYNEGY ]

Attorney Advertising.  The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ([ www.faruqilaw.com ]).  Prior results do not guarantee or predict a similar outcome with respect to any future matter.  We welcome the opportunity to discuss your particular case.  All communications will be treated in a confidential matter.

FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn:  Richard Gonnello, Esq.
[ rgonnello@faruqilaw.com ]
Francis McConville, Esq.
[ fmcconville@faruqilaw.com ]
Telephone: (877) 247-4292 or (212) 983-9330

SOURCE Faruqi & Faruqi, LLP