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Home Depot Sued Over Share Price

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At a glance:

A class action lawsuit is in the works against Home Depot, on behalf of investors who purchased its stock between May 19, 2001 and February 22, 2005.  
 
The suit alleges that the company misled the public concerning its financial condition and operations, allowing the share price to become artifically inflated. 
 
Various fraudulent practices are also alleged, and damages are sought for these investors. 
 

Notice of Filing Securities Class Action Against The Home Depot ...

Business Wire - 5/19/2006 5:53 PM

PITTSBURGH--(BUSINESS WIRE)--May 19, 2006--The Law Office of Alfred G. Yates Jr., PC announces that it has filed a class action lawsuit in the United States District Court for the Northern District of Georgia on behalf of all securities purchasers of The Home Depot, Inc. ("Home Depot" or the "Company") (NYSE:HD) and certain of its officers and directors between May 19, 2001 and February 22, 2005, inclusive (the "Class Period") against Home Depot, Robert L. Nardelli, Carol B. Tome, Kenneth G. Langone, Berry R. Cox, John L. Clendenin and Larry M. Mercer.
 

 
The complaint alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by the making of materially false and misleading statements concerning Home Depot's operations and financial condition which caused The Home Depot's securities to trade at artificially inflated prices during the Class Period.
 
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