Barrack Rodos Announces Update of Class Action Against Amplidyne, Inc. and Its Officers and Directors.PHILADELPHIA--(BUSINESS WIRE)--Oct. 18, 1999--Counsel for Class Plaintiff, Barrack BARRACK. By this term, as used in Pennsylvania, is understood an erection of upright posts supporting a sliding roof, usually of thatch. 5 Whart. R. 429. , Rodos & Bacine, today issued the following: A class action has been commenced in the United States District Court for the District of New Jersey The United States District Court for the District of New Jersey is the Federal district court whose jurisdiction is the state of New Jersey. It was established in 1789. New Jersey is the largest state by population to only have one District Court. The Honorable Garrett E. on behalf of all persons who purchased the common stock of Amplidyne am·pli·dyne n. A rotating magnetic amplifier with specialized windings that allow small changes in power input to produce large changes in power output. [Originally a trademark.] , Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AMPD AMPD Alisveris Merkezleri ve Perakendeciler Dernegi (Turkish Council of Shopping Centers and Retailers) AMPD Adenosine Monophosphate Deaminase AMPD Average Miles Driven Per Day AMPD Atomic and Molecular Physics Division ) ("Amplidyne" or the "Company") between September 9 and September 14, 1999, inclusive (the "Class Period"). The complaint charges Amplidyne and its Chief Executive Officer and President with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 as well as Rule 10b-5 promulgated prom·ul·gate tr.v. prom·ul·gat·ed, prom·ul·gat·ing, prom·ul·gates 1. To make known (a decree, for example) by public declaration; announce officially. See Synonyms at announce. 2. thereunder. The complaint alleges that defendants issued materially false or misleading statements regarding its products and the technology employed therein. Because of the issuance of these false or misleading statements, the price of Amplidyne common stock rose from approximately $3.00 per share, to a high of $10.13 per share in trading of 17.3 million shares, approximately 600 times its three-month daily average trading volume Trading volume The number of shares transacted every day. As there is a seller for every buyer, one can think of the trading volume as half of the number of shares transacted. That is, if A sells 100 shares to B, the volume is 100 shares. on September 9, 1999. The plaintiff seeks to recover damages on behalf of all purchasers of Amplidyne common stock during the Class Period. He is represented by the law firm of Barrack, Rodos & Bacine, which has extensive experience in prosecuting investor class actions involving financial fraud. Barrack, Rodos & Bacine has prosecuted securities, antitrust and consumer class actions for over 20 years. The firm has offices in Philadelphia, San Diego, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Boston and New Jersey and has been designated lead counsel by federal and state courts across the country in large, complex cases. For more information about Barrack, Rodos & Bacine, please visit their website at www.barrack.com. If you are a member of the Class described above, you may, no later than November 15, 1999, move the Court to serve as lead plaintiff of the Class, if you so choose. In order to serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action or have any questions concerning this case or your rights or interests, please contact: Maxine S. Goldman, Shareholder Relations Manager Barrack, Rodos & Bacine, Counsel for Class Plaintiff 3300 Two Commerce Square 2001 Market Street Philadelphia, PA 19103 800-417-7305 or 215/963-0600 fax number 888/417-7306 or 215/963-0838 e-mail at msgoldman@barrack.com |
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