TLEO SHAREHOLDERS: Hagens Berman Announces Class Action Lawsuit Against Taleo Corporation

December 1, 2008 2:48 PM EST

SEATTLE, Dec. 1 /PRNewswire/ -- Hagens Berman Sobol Shapiro LLP announced a class action lawsuit was filed against Taleo Corporation (Nasdaq: TLEO) claiming company executives engaged in insider trading. Since going public in 2005, insiders have unloaded more than $120 million in stock sales.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080317/AQM144LOGO)

The lawsuit represents those who purchased Taleo securities between Oct. 4, 2005 and Nov. 10, 2008. If you are a significant investor with purchases in excess of $100,000, please contact Reed Kathrein at tleo@hbsslaw.com or (510) 725-3000. If you wish to serve as lead plaintiff, you must file a motion with the court by Jan. 16, 2009.

Taleo shares hit a 52-week low on Nov. 11, 2008, after the Company announced it would delay third-quarter earning reports to review accounting practices. After the announcement, Taleo's stock fell 28 percent to $7.99 per share from its annual high of $34.20.

If you invested in Taleo stock between Oct. 4, 2005 and Nov. 10, 2008, please contact plaintiff's counsel, Reed Kathrein of Hagens Berman at (510) 725-3000 or via e-mail tleo@hbsslaw.com. You can also view more information about this investigation at http://www.hbsslawsecurities.com/tleo.

The Court will generally appoint the person or persons with the largest losses who files a motion to be a lead plaintiff. You do not need to file a motion if you do not want to be a lead plaintiff. The lead plaintiff is responsible for overseeing the litigation, counsel and the interests of the other investors who invested during the period of any misrepresentation or omission.

Hagens Berman Sobol Shapiro, a law firm with offices in Seattle, San Francisco, Los Angeles, Boston, Chicago, Phoenix and New York is active in major litigation pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations. The Hagens Berman Web site (http://www.hbsslawsecurities.com) and securities blog (http://www.meaningfuldisclosure.com) has more information about the firm and its practice.

     Contact:     Hagens Berman Sobol Shapiro LLP
                  Reed Kathrein
                  (510) 725-3000
                  tleo@hbsslaw.com
                  http://www.hbsslawsecurities.com

SOURCE Hagens Berman Sobol Shapiro LLP

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