Shareholders Foundation, Inc.

ModusLink Global Solutions, Inc. (NASDAQ:MLNK) Investor Alert: Lawsuit Against Directors Filed

A lawsuit was filed by a current investor in shares of ModusLink Global Solutions, Inc. (NASDAQ:MLNK) over alleged breaches of fiduciary duties and current NASDAQ:MLNK stockholders should contact the Shareholders Foundation.

 

San Diego, CA -- (ReleaseWire) -- 09/12/2012 -- An investor in shares of ModusLink Global Solutions, Inc. (NASDAQ:MLNK) filed a lawsuit against directors of ModusLink Global Solutions, Inc. over alleged breaches of fiduciary duties in connection with certain financial statements.

Investors who purchased shares of shares of ModusLink Global Solutions, Inc. (NASDAQ:MLNK) shares and currently hold any of those NASDAQ:MLNK shares, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges that directors of ModusLink Global Solutions, Inc. (NASDAQ:MLNK) breached their fiduciary duties owed to NASDAQ:MLNK stockholders in connection with certain financial statements made by ModusLink Global Solutions, Inc.

The lawsuit against directors over alleged breaches of fiduciary duties follows a lawsuit that was filed earlier in this year against ModusLink Global Solutions, Inc. over alleged violations of the Securities Exchange Act of 1934.

On June 11, 2012, ModusLink Global Solutions, Inc. had announced that it will delay the filing of the third quarter FY 2012 results and that it expects to restate its financial results from FY 2007 through first two quarters of the FY 2012. Furthermore, ModusLink Global Solutions, Inc. said that its President and CEO retired effective immediately upon the appointment of a new chief executive officer and its president, global operations for ModusLink left the company effective immediately

Shares of ModusLink Global Solutions, Inc. (NASDAQ:MLNK) declined from $5.95 per share in February 2012 to as low as $2.72 per share in June 2012.

ON September 11, 2012, NASDAQ:MLNK shares closed at $3.28 per share.

Those who purchased shares of shares of ModusLink Global Solutions, Inc. (NASDAQ:MLNK) shares, have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Jacob Rosenfeld
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com