Itron Brass Accused Of Duping Investors

Law360, New York (February 25, 2011, 4:07 PM EST) -- An investor filed a proposed class action in Washington state Wednesday claiming Itron Inc. principals knowingly misled investors when they reported "fantastic" earnings and then sent the energy and water metering company's stock tumbling after restating results.

Bill Coady's suit, lodged in the U.S. District Court for the Eastern District of Washington, names the Liberty Lake, Wash.-based company, CEO Malcolm Unsworth and Chief Financial Officer Steven M. Helmbrecht as defendants.

The defendants knew adverse facts were being concealed, according to the complaint, which was lodged on...
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