Last week there were some troubling developments at Shuffle Master, Inc. (NASDAQ: SHFL), a company which engages in the development, manufacture, sale, and marketing of technology and entertainment-based products for the gaming industry. Specifically, on February 27, SHFL stock has declined precipitously after the company disclosed preliminary results for the quarter ended January 31, 2007. Now the Company has disclosed more bad news. On March 12, 2007, after the close of trading, the Company disclosed that its previously issued audited financial statements as of and for the twelvemonth period ended October 31, 2006 and the unaudited selected quarterly financial information for the three months ended October 31, 2006, should be restated. As you would suspect, its stock dropped significantly on this news in heavy trading. It appears that investors who purchased stock between March 20, 2006 and March 12, 2007, may be affected.
We are investigating this matter and affected shareholders may wish to contact us to discuss their options.
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