SouthWest Water Company (NASDAQ:SWWC) Investors Update: Deadline - 01/23/09 In The Lawsuit

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) January 16, 2009 -- A deadline is coming up in the shareholder lawsuit against SouthWest Water Co. over alleged violations of Securities Laws. The deadline will expire on January 23, 2009.
If you purchased or otherwise acquired the securities of SouthWest Water Company (NASDAQ:SWWC), between March 16, 2006 and November 9, 2008, you have certain options and there are strict and short deadlines running. (January 23, 2009). You should contact the Shareholders Foundation, Inc. immediately!

Email: Mail@ShareholdersFoundation.com

or Call us TODAY!

Phone: +1-(858)-779-1554

On Wednesday, November 26, 2008, a shareholder of SouthWest Water Company (NASDAQ:SWWC) has filed a proposed securities class action on behalf of in the United States District Court for the Central District of California on behalf of all persons or entities who purchased or otherwise acquired the securities of SouthWest Water Company (NASDAQ:SWWC), between March 16, 2006 and November 9, 2008, against SouthWest Water Company over alleged violations of federal securities laws. According to the complaint the plaintiff alleges that SouthWest Water Company (NASDAQ:SWWC; “SouthWest Water”) and certain of its executive officers with violations of federal securities laws by issuing materially false and misleading statements concerning the SouthWest Water’s business, operations and prospects, caused its stock price to become artificially inflated, inflicting damages on investors, and that the defendants knew or recklessly disregarded between March 16, 2006 and November 9, 2008 that their public statements were materially false and misleading.

Specifically, the Complaint alleges that on November 10, 2008, SouthWest Water shocked investors when it announced that it would be delaying the filing of its Form 10-Q for the third quarter ended September 30, 2008 and that SouthWest Water revealed that its audit committee had concluded that the consolidated financial statements for the years ended December 31, 2005, 2006 and 2007, and for each of the quarters therein, as well as for the quarters ended March 31, 2008 and June 30, 2008, should no longer be relied upon and would be restated to correct a number of errors. As a result of this news, so the lawsuit, the shares of SouthWest Water (NASDAQ:SWWC ) declined $2.97 per share, more than 36%, to close on November 10, 2008, at $5.25 per share, on unusually heavy volume.

If you purchased or otherwise acquired the securities of SouthWest Water Company (NASDAQ:SWWC), between March 16, 2006 and November 9, 2008, you have certain options and there are strict and short deadlines running. (January 23, 2009). You should contact the Shareholders Foundation, Inc. immediately!

Email: Mail@ShareholdersFoundation.com

or Call us TODAY!

Phone: +1-(858)-779-1554

For more information pease visist: www.ShareholdersFoundation.com

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