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Copyright ©2011 Levi & Korsinsky, LLP
New York
Washington, DC
| Lydall, Inc. |
| Lydall, Inc. (NYSE: LDL) shareholder litigation in connection with alleged securities fraud |
Levi & Korsinsky is investigating potential claims on
behalf of purchasers of the securities of Lydall, Inc.
(“Lydall” or the “Company”) (NYSE: LDL) concerning
possible violations of federal securities laws.
On November 8, 2011, shares of Lydall plummeted
20% after the company disclosed accounting errors
behalf of purchasers of the securities of Lydall, Inc.
(“Lydall” or the “Company”) (NYSE: LDL) concerning
possible violations of federal securities laws.
On November 8, 2011, shares of Lydall plummeted
20% after the company disclosed accounting errors
that trimmed its second-quarter profit. The Company revealed for the first time that it had
discovered and corrected certain prior period errors related to the accounting for U.S. income
taxes associated with dividends from a foreign subsidiary. Upon evaluation, the Company
determined that these errors were immaterial to each of the reporting periods affected. However, if
the adjustments to correct the cumulative errors had been recorded in the quarter ended
September 30, 2011, Lydall stated that it believes the impact would have been material to 2011.
discovered and corrected certain prior period errors related to the accounting for U.S. income
taxes associated with dividends from a foreign subsidiary. Upon evaluation, the Company
determined that these errors were immaterial to each of the reporting periods affected. However, if
the adjustments to correct the cumulative errors had been recorded in the quarter ended
September 30, 2011, Lydall stated that it believes the impact would have been material to 2011.
