Rosetta Stone Slapped With Shareholder Action

Law360, New York (March 25, 2011, 4:47 PM EDT) -- Shareholders of language-learning software maker Rosetta Stone Inc. filed a putative class action Thursday in Virginia, claiming the company misled them about its financial situation.

The putative class includes anyone who purchased Rosetta Stone shares between February 2010 and March 1, 2011, according to a complaint filed in the U.S. District Court for the Eastern District of Virginia.

The suit also targets Rosetta Stone CEO Tom Adams, Chief Financial Officer Brian Helman and principal accounting officer Matthew Sysak.

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