Company Website: http://www.lieffcabraser.com
SAN FRANCISCO -- (Business Wire)

The law firm of Lieff Cabraser Heimann & Bernstein, LLP reminds investors of the April 23, 2012 deadline to move for appointment as lead plaintiff in the securities class action against SAIC, Inc. (“SAIC” or the “Company”) (NYSE: SAI), brought on behalf of purchasers of SAIC common stock between April 11, 2007 and September 1, 2011, inclusive (the “Class Period”).

If you purchased SAIC common stock during the Class Period, you may move the Court for appointment as lead plaintiff no later than April 23, 2012. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your share of any recovery in the action will not be affected by your decision of whether to seek lead plaintiff appointment. You may retain Lieff Cabraser, or other attorneys, as your counsel in the action.

SAIC shareholders who wish to learn more about the action and how to seek appointment as lead plaintiff should click here or contact Sharon Lee of Lieff Cabraser at (800) 541-7358.

The complaint alleges that SAIC and certain current and former senior officials issued materially false and misleading statements during the Class Period regarding SAIC’s financial performance and business prospects. Specifically, defendants failed to disclose: (a) that SAIC had fraudulently overbilled New York City hundreds of millions of dollars on the “CityTime” project, a project focused on modernizing the City’s employee payroll system; (b) that, consequently, its financial results during the Class Period were materially misstated; (c) that SAIC’s overbilling practices subjected itself to numerous monetary and reputational risks; and (d) that defendants therefore lacked a reasonable basis for their positive statements about the Company.

On August 31, 2011, SAIC announced an approximately 6% decline in revenue and a 23% decline in operating margin for the second quarter of 2012. Following this announcement, defendants disclosed during an earnings conference call with analysts and investors that SAIC’s revenues were negatively affected by the “wind[ing] down” of the CityTime contract and that it was “probable” that SAIC would have to make restitution to New York City for wrongful conduct on the contract. On this news, SAIC stock dropped nearly 14%, from $15.00 per share on August 31, 2011, to close at $12.97 on September 1, 2011.

Lieff Cabraser is a nationally recognized law firm committed to advancing the rights of investors and promoting corporate responsibility.

For more information about Lieff Cabraser and the firm’s representation of investors, please visit http://www.lieffcabraser.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts:

Lieff Cabraser Heimann & Bernstein
Sharon Lee, 415-956-1000

Source: Lieff Cabraser Heimann & Bernstein, LLP