Siemens Devalued HearUSA Stock Ahead Of Takeover: Suit

Law360, New York (January 19, 2012, 8:30 PM EST) -- Investors who say they sold HearUSA stock at artificially deflated prices filed a putative class action in New Jersey on Wednesday claiming Siemens Hearing Instruments Inc. schemed to drive down the price in its bid to acquire HearUSA.

The investors, who sold stock between Jan. 18 and July 31, say the Siemens AG affiliate caused the stock price to drop by filing false statements with the U.S. Securities and Exchange Commission in an attempt to buy HearUSA, which distributed Siemens' hearing aids, for less than its...
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