Accounting Restatement Leads to Shareholder Action Against Profit Recovery Group International, Inc., Announces Berman DeValerio & Pease LLP.Business Editors & Legal Writers ATLANTA--(BUSINESS WIRE)--June 26, 2000 Berman, DeValerio & Pease pease n. pl. pease or peas·en Archaic A pea. [Middle English; see pea. LLP LLP - Lower Layer Protocol a law firm specializing in representing shareholders in class action lawsuits class action lawsuit A lawsuit in which one party or a limited number of parties sue on behalf of a larger group to which the parties belong. For example, investors may bring a class action lawsuit against a brokerage firm that has actively promoted a tax , issues the following press release: Profit Recovery Group International, Inc. ("Profit Recovery" or the "Company") (Nasdaq:PRGX) was named as a defendant in a shareholder class action filed in the United States District Court United States District Court In the U.S., any of the 94 trial courts of general jurisdiction in the federal judicial system. Each state, as well as the District of Columbia and the Commonwealth of Puerto Rico, has at least one federal district court. for the District of Northern District of Georgia. The action, brought by Berman, DeValerio & Pease, LLP, www.bermanesq.com, seeks damages for violations of the federal securities laws on behalf of all investors who purchased Profit Recovery common stock between February 16, 2000 and March 29, 2000 (the `Class Period"). The lawsuit lawsuit: see procedure; tort. charges Profit Recovery and certain of its officers, with violations of the federal securities laws by issuing materially false and misleading financial statements for the Company's 1999 fiscal fourth quarter on February 16, 2000. On March 29, 2000 Profit Recovery announced that it would restate re·state tr.v. re·stat·ed, re·stat·ing, re·states To state again or in a new form. See Synonyms at repeat. re·state its reported fourth quarter financial results due to improperly im·prop·er adj. 1. Not suited to circumstances or needs; unsuitable: improper shoes for a hike; improper medical treatment. 2. recording revenue. Profit Recovery's common stock plunged from $26 per share to $18 3/8 per share on March 30, 2000. If you purchased Profit Recovery common stock during the Class Period and suffered a loss on your investment, you may wish to contact the lawyers at Berman, DeValerio & Pease LLP to discuss your rights and interests: Patrick T. Egan, Esq. Jeffrey C. Block, Esq. Berman, DeValerio & Pease LLP One Liberty Square Boston, MA 02109 E-Mail: bdplaw@bermanesq.com. (800) 516-9926 To learn more about this action, other cases or class actions in general, you can also visit our website at www.bermanesq.com. If you wish to apply to be Lead Plaintiff in this action, a motion must be filed on your behalf with the court no later than August 4, 2000. To be a member of the class you need not take any action at this time and you may retain counsel of your own choice. To serve as lead plaintiff, however, you must meet certain legal requirements. You may contact the attorneys at Berman, DeValerio & Pease LLP to discuss your rights regarding the appointment of lead plaintiff and your interest in the class action. With offices in Boston and San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , Berman, DeValerio & Pease LLP has extensive experience prosecuting shareholder class actions. The firm has been appointed lead counsel in numerous actions involving companies that have issued false and misleading statements, has successfully litigated these actions, and has been singled out for its excellence by many courts. The firm prides itself on its responsiveness to shareholders and their needs in particular cases. |
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