IGT Faces Investor Ire Over Financial Statements

Law360, New York (July 31, 2009, 3:32 PM EDT) -- Slot machine and video game maker International Game Technology has been hit with a securities fraud class action that accuses the company and three senior executives of painting a falsely rosy picture of its earnings prospects.

Filed in the U.S. District Court for the District of Nevada on Thursday, the complaint alleges the Nevada-based company concealed the downturn in the gaming market and misled investors about the company's future growth.

The suit was lodged by the International Brotherhood of Electrical Workers Local 697 Pension Fund, an...
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