Adams Golf, Inc. and Top Officers and Directors Are Sued by the Shareholders in Class Action Lawsuit Filed by Keller Rohrback LLP.SEATTLE--(BUSINESS WIRE)--June 23, 1999-- Investors filed a new federal class action lawsuit 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 alleging Adams Golf, Inc. (Nasdaq:ADGO) and certain of its officers and directors violated the federal securities laws. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the complaint, defendants omitted or misrepresented certain information from the Registration Statement filed with the SEC and the Prospectus they disseminated to investors who purchased Adams Golf (Nasdaq:ADGO) common stock in the initial public offering in July 1998 (the "IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. "). The lawsuit charges that the Registration Statement and the Prospectus failed to disclose material risks arising from important conditions existing at the time of the IPO, specifically that at the time of the IPO, gray market distribution of Adams Golf products and an oversupply o·ver·sup·ply n. pl. o·ver·sup·plies A supply in excess of what is appropriate or required. tr.v. o·ver·sup·plied, o·ver·sup·ply·ing, o·ver·sup·plies of golf club inventory at the retail level were adversely affecting Adams Golf's earnings. According to the complaint, the price of Adams Golf stock has declined dramatically in the period following the IPO as investors have learned the truth. The complaint also charges that, in the IPO, individual defendants sold more than two million shares of the Company's stock for more than $35 million in proceeds. The complaint was filed Tuesday in the United States District Court for the District of Delaware The United States District Court for the District of Delaware is the Federal district court having jurisdiction over the entire state of Delaware. The Court sits in Wilmington. Currently, three judges and two magistrate judges preside over the court. . The class consists generally of persons who purchased in the IPO. Keller Rohrback L.L.P. is a law firm headquartered in Seattle that has successfully represented shareholders and consumers in class action cases throughout the West for over a decade. Its trial lawyers have obtained judgements on behalf of its clients in excess of five billion dollars. Keller Rohrback L.L.P. is currently representing clients in litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. against IKON Office Systems, Compaq Computer Corp, Iridium iridium (ĭrĭd`ēəm), metallic chemical element; symbol Ir; at. no. 77; at. wt. 192.22; m.p. about 2,410°C;; b.p. about 4,130°C;; sp. gr. 22.55 at 20°C;; valence +3 or +4. World Communications, Inc., American Home For the American mortgage lender, see . The American Home is a center of intercultural exchange located in Vladimir, Russia. The home is designed to model a typical American suburban home and its main focus is the ESL school that provides lessons for Russian students. Products, and Exxon Corporation, among others. If you purchased Adams Golf common stock in the IPO, you may, not later than 60 days from June 14, 1999, move the Court to serve as lead plaintiff of the class. If you have information relevant to the case or wish to learn about your rights to seek to serve as a lead plaintiff you may contact Keller Rohrback L.L.P. (Lynn L. Sarko, Juli Farris, or Elizabeth Leland, Esq.) at 1201 Third Avenue, Suite 3200, Seattle, WA 98101, or email investor@kellerrohrback.com. You may also call toll free at 800/776-6044 or 206/224-7496. A copy of this notice can be found at the SeattleClassAction.com website. |
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