Profits from Herley Industries Avionics Corporate Crime

In June, 2006, the Aviation Electronics and Power Amplifier System White Collar Crime Company "Ticker Symbol HRLY" Herley Industries, indicted on multiple charges in connection with purported activities resulting in alleged excessive profits by the Company on three contracts with the U.S. Department of Defense. The lawsuit charges Herley with violating the federal securities laws by issuing false financial statements. Plants affected were in Lancaster, Pennsylvania, Woburn, Massachusetts, New York 425 Smith Street Farmingdale, NY 11735. The price of Herley stock has dropped more than 50% as a result. Plaintiffs filed a consolidated complaint in February 2007. Defendants moved to dismiss the complaint in April 2007. On July 17, 2007, the Court denied defendants' motions to dismiss the claims against them. Lawsuits pending class action certification. Proceeds in excess of $4.7 million. http://www.classactionworld.com/
http://www.usdoj.gov/usao/pae/News/Pr/2007/feb/blatt.html Enron, Worldcom

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