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Recent Cases

SPX Corp.

A class action lawsuit was commenced on behalf of all persons and entities who purchased or otherwise acquired the securities of SPX Corp. ("SPX" or the "Company") between July 28, 2003 and February 26, 2004, inclusive (the "Class Period"), seeking to pursue remedies under the Securities Exchange Act of 1934 (the "Exchange Act"). The complaint names SPX, John B. Blystone, Patrick J. O'Leary, Ronald L. Winowieck, Christopher J. Kearney and Lewis M. Kling as Defendants. The complaint alleges that throughout the Class Period, Defendants issued false and misleading projections of SPX fiscal year 2003 earnings per share and that Defendants issued public statements emphasizing increased free cash flow while at the same time, assuring investors that SPX was on track to meet its earnings per share projections. In fact, Defendants knew the Company's financial growth had materially declined and that the Company was only able to meet its EPS projections through inclusion of a one-time gain. While the investing public was shielded from the truth of the Company's poor earnings prospects, in January and February 2004 Defendant and CEO John B. Blystone sold significant portions of his own SPX holdings, amounting to over $41 million in SPX stock.

Click here to view the complaint.

No press release available.

Click here to join this class action.

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To find out more about this case, please contact us at shareholderrelations@spornlaw.com or 212-964-0046.

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Some Recent Settlements

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October 29, 2008 - $15 million cash settlement
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· In re SPX Corp. Securities Litigation, 3:04-CV-99 (W.D.N.C.)
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· In re Westar Energy, Inc. Securities Litigation, 03-CV-4003 (D. Kansas)
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