LITTLE ROCK, Ark.-The law firm of Cauley Geller Bowman & Coates L.L.P. filed a class action lawsuit in the United States District Court for the Southern District of New York on behalf of purchasers of Vodafone Group plc publicly traded securities charging Vodafone and certain of its officers and directors with issuing false and misleading statements concerning its business condition.
The suit alleges that Vodafone stated it maintained a solid balance sheet and did not disclose a number of adverse facts including an improper delay in writing down billion of dollars in goodwill and impaired assets, that Vodafone overpaid for the a number of acquisitions it had made in prior years and that its representation that it would maintain a record of delivering outstanding performance was “lacking in a reasonable basis.”
