PCB | March 11, 2008

Class action lawsuit against Camtek

The Law Office of Jacob Sabo has announced a class action lawsuit against Camtek and its executive officers at the United States District Court for the Northern District of California.
They represent all persons or entities that purchased or otherwise acquired the common stock of Camtek between 22.11.2005 and 20.12.2006 (inclusive).The complaint charges Camtek with the violation of federal securities laws and seeks compensation for the plaintiffs’ claims that defendants' material omissions and dissemination of materially false and misleading statements concerning Camtek's business and prospects caused the Camtek’s stock price to become artificially inflated, inflicting damages on investors.

The complaint alleges that during the above stated period, defendants artificially inflated the price of Camtek shares by issuing statements touting positive trends in the PCB and semiconductors markets and the strength of Camtek's business and financial performance.

However it is believed that the defendants knew or recklessly disregarded and failed to disclose to the investing public that the Company lacked requisite internal controls and misrepresented the Company's business and future prospects. The Complaint further alleges that defendants were further motivated to engage in this course of conduct in order to
generate proceeds from a private placement with institutional investors in April 2006 whereby the Company garnered approximately $15 million in proceeds.


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Further details can be found here.
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