Brian Rines, Et Al. V. Heelys, Inc., Et Al. 07-CV-01468-Plaintiffs
IN THE UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF TEXAS DALLS DIVISION BRIAN RINES, ON BEHALF OF § HIMSELF AND ALL OTHERS § CIVIL ACTION NO. SIMILARLY SITUATED, § 3:07=CV- 1468-K Plaintiff, § V. § HEELYS, INC. et al., § Defendants. § PLAINTIFFS' CONSOLIDATED AMENDED CLASS ACTION COMPLAINT Lead Plaintiffs, David Gamel, Alaska Electrical Pension Fund, Jeff Aivazian, Raymond L. Ortman and Wayne Williamson, individually and on behalf of all other persons similarly situated, by their undersigned attorneys, for their complaint against defendants, allege the following based upon personal knowledge as to themselves and their own acts, and information and belief as to all other matters, based upon, inter alia, the investigation conducted by and through their attorneys, which included, among other things, a review of defendants' public documents, conference calls and announcements made by defendants, United States Securities and Exchange Commission ("SEC") filings, wire and press releases published by and regarding Heelys, Inc. ("Heelys" or the "Company") securities analysts' reports and advisories about the Company, and information readily obtainable on the Internet. Plaintiffs believe that substantial evidentiary support will exist for the allegations set forth herein after a reasonable opportunity for discovery. NATURE OF THE ACTION 1. This Consolidated Amended Class Action Complaint (the "Complaint") alleges violations of Sections 11, 12(a)(2) and 15 of the Securities Act of 1933 (the "Securities Act") in connection with Heelys' and the "selling shareholders"' (defined below) issuance of approximately 7.4 million shares of the Company's common stock to investors on or about December 8, 2006. This Complaint does not allege or intend to allege any claims or assertions of fraud and is rooted exclusively in theories of innocent and/or negligent conduct to which the strict liability provisions of the foregoing statutes apply.
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