Diebold sued by investors

Two law firms representing investors are suing Diebold Inc., claiming the Ohio company made misleading comments about its electronic voting machine business that led to artificially high share prices.

The lawsuits filed this week in U.S. District Court in Cleveland claim Diebold was "unable to assure the quality and working order of its voting machine products." The plaintiff claims the company tried to conceal the problems from investors and that Diebold lacked the internal controls necessary to accurately monitor its financial performance.

.......

Both firms allege that Diebold violated federal securities laws by making misleading statements about the health of its voting machine business, causing Diebold stock to artificially rise.

The lawsuits also claim the company's actions led to poor forecasting and guidance of earnings that led to low and inaccurate restructuring charges in 2005. Once those charges were revealed on Sept. 21, share prices plummeting that day nearly 16 percent - from $44.37 to $37.47 on the New York Stock Exchange.



http://hosted.ap.org/dynamic/stories/C/CT_DIEBOLD_INVESTOR_LAWSUITS_CTOL-?SITE=VARIT&SECTION=US&TEMPLATE=DEFAULT&CTIME=2005-12-16-17-08-25

all over the place!~

and thanks for the link! :toast:

Jenn

goes:nuke: and takes ES&S, Triad etal with them!!

order of its voting machine products." Please, please, please, let's dig in and bring their indiscretions into the light of day!

:patriot:

in the vote tabulation business.

O'Dell says in his letter that he is "committed to helping Ohio deliver its electoral votes to the President next year."

BTW he is on the board of trustees of Ohio State University. Bob Taft put him there.

:popcorn: I wonder if all the papers and talking heads that called us conspiracy nuts are going to apologize?

They will all act like this is some late breaking story and that they reported it first. Forget the fact that DU has been talking about these problems for years.

I just cannot believe that no one was concerned regarding the quote from O'Dell. WTF?? That should have set off alarms everywhere.

me a dead end conspiracy nut .... who sees evil in the very lack of reporting on election fraud
as proof in his own mind to the conspiracy.

I live in Columbus, OH and saw and heard the election fraud (crimes) first hand the repugs
know they won dirty here too. It wasn't just DieBold voting machines but the county level central
tabulators that old Ken Blackwell had access to so that it was possible to input data into
instead of just receiving it.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=132x2316179

I tried to tie together proof of ability to hack diebold w/ the repugs in Ohio trying to make it that you
could not look at the machines, tabulators, hardware, and or software ..... "they" had to have know that
they were winning dirty.

...is if they want to steal elections.

screwed up.

His reply, "What are you talking about?"

He is a freeper, by the way.

The first three news stories about Diebold on Yahoo's business news
http://finance.yahoo.com/q?s=dbd
are:

Lerach Coughlin Stoia Geller Rudman & Robbins LLP Files Class Action Suit Against Diebold, Incorporated

Schatz & Nobel, P.C. Announces Class Action Lawsuit against Diebold Inc. and the Investigation of Diebold, Inc. 401k Plans -- DBD

INVESTOR NOTICE: Chitwood Harley Harnes LLP Files Securities Fraud Suit and Encourages Purchasers of DBD common stock from October 22, 2003 Through September 20, 2005 To Explore Legal Options


The second one of those is on behalf of Diebold employees who invested in Diebold through their 401k plan. Could some employees be ready to talk?

Gotta be pretty soon....

News Release


Diebold Reports Recently Filed Class Action Lawsuit
NORTH CANTON, Ohio, Dec 16, 2005 /PRNewswire-FirstCall via COMTEX News Network/ -- Diebold, Incorporated (NYSE: DBD) today announced that the company and certain corporate officers have been named as defendants in a purported class action lawsuit filed in the United States District Court for the Northern District of Ohio. Two law firms have currently announced the commencement of actions on behalf of shareholders that are believed to be similar in substance.

The complaint alleges violations of United States securities laws and that the company was unable to assure the quality and working order of its voting machine products. The plaintiffs seek unspecified damages. The company believes that the allegations in the lawsuit are without merit, and it intends to vigorously defend itself against all allegations.

Forward-Looking Statements

This press release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The use of the words "believes," "anticipates," "expects," "intends" and similar expressions is intended to identify forward-looking statements that have been made and may in the future be made by or on behalf of the company. These forward-looking statements relate to, among other things, the merits of the lawsuit and the defenses to the allegations contained in the lawsuit. Although the company believes that these forward-looking statements are based upon reasonable assumptions, these forward-looking statements involve risks, uncertainties and other factors that may cause actual results to differ materially from those expressed in or implied by the forward-looking statements. These risks and uncertainties include, without limitation, the ability of the company to successfully defend itself in any lawsuit, including the purported class action lawsuit, and the uncertainties of litigation. The company is not obligated to update forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.

Diebold, Incorporated is a global leader in providing integrated self- service delivery and security systems and services. Diebold employs more than 14,000 associates with representation in nearly 90 countries worldwide and is headquartered in Canton, Ohio, USA. Diebold reported revenue of $2.4 billion in 2004 and is publicly traded on the New York Stock Exchange under the symbol 'DBD.' For more information, visit the company's Web site at www.diebold.com.

SOURCE Diebold, Incorporated

Media Relations, Mike Jacobsen, +1-330-490-3796, or jacobsm1@diebold.com; or Investor
Relations, John Kristoff, +1-330-490-5900, or kristoj@diebold.com , both of Diebold,
Incorporated


http://www.prnewswire.com

takes a major dive!

Lerach Coughlin Stoia Geller Rudman & Robbins LLP Files Class Action Suit Against Diebold, Incorporated
http://biz.yahoo.com/bw/051216/20051216005603.html?.v=1

Schatz & Nobel, P.C. Announces Class Action Lawsuit against Diebold Inc. and the Investigation of Diebold, Inc. 401k Plans -- DBD

http://biz.yahoo.com/pz/051216/91383.html

Diebold Sued by Investors Claiming Some Misleading Comments Artificially Inflated Share Prices

Colchester, Conn., firm Scott & Scott LLC sued on behalf of investors who held Diebold stock between Oct. 22, 2003, and Sept. 21, 2005. Stull, Stull & Brady of New York also sued, representing people whose employers bought Diebold stock for their retirement accounts during that same period.

http://biz.yahoo.com/ap/051216/diebold_investor_lawsuit...

Claim:
Diebold was "unable to assure the quality and working order of its voting machine products."

I bet they settle out of court to keep it quiet.