Berger & Montague, P.C. Files Class Action Lawsuit Against Mercator Software, Inc.Business Editors/Legal Writers PHILADELPHIA--(BUSINESS WIRE)--Sept. 8, 2000 The law firm of Berger & Montague, P.C p.c. (post cibum), n a Latin phrase meaning “after meals”; the abbreviation may be used in prescription writing. . (http://home.bm.net) filed a class action on August 25, 2000 in the United States District Court for the District of Connecticut The United States District Court for the District of Connecticut is the Federal district court whose jurisdiction is the state of Connecticut. The court has offices in Bridgeport, Hartford and New Haven. on behalf of all persons or entities who purchased Mercator Software, Inc. (Nasdaq: MCTR MCTR Missile Technology Control Regime mCTR Murine Calcitonin Receptor MCTR Medical Center for Translational Research (Osaka University Hospital, Japan) MCTR Mackinac Transportation Company - news) common stock during the period April 24, 2000 through and including August 21, 2000. The complaint alleges that Mercator and certain of its officers issued false and misleading financial statements and press releases to the investing public concerning the Company's publicly reported revenues, earnings, and expenses. Moreover, the Company omitted to state material information necessary to be issued in order to make prior statements not misleading. Specifically, on August 21, 2000, after the market had closed, Mercator surprised the investing community by announcing that the Company restated and lowered first- and second-quarter 2000 earnings to account for approximately $2.4 million of under-reported expenses for the period. In addition, the Company stated that it made key management changes to strengthen financial controls and oversight
Oversight may refer to:
The Company said that discrepancies in the reporting of expenses surfaced in a review by outside auditors. Following the review, the Company appointed a new chairman and stated that defendant Kevin McKay, its chief financial officer, only appointed four weeks ago, resigned. If you purchased Mercator Software, Inc. common stock during the period of April 24, 2000 through and including August 21, 2000 you may, not later than October 23, 2000, move to be appointed lead plaintiff. A lead plaintiff is a representative party that acts on behalf of other class members in directing the 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. . In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or , one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery, is not, however, affected by the decision whether or not to serve as a lead plaintiff. The law firm of Berger & Montague, P.C. has over 50 attorneys, all of whom represent plaintiffs in complex litigation. The Berger firm has extensive experience representing plaintiffs in class action securities litigation and has played lead roles in major cases over the past 25 years which have resulted in recoveries in excess of two billion dollars to investors. The firm is currently representing investors as lead counsel in actions against Waste Management, Inc Waste Management, Inc. (NYSE: WMI) is a waste management, comprehensive waste, and environmental services company in North America. The company's network includes 413 collection operations, 370 transfer stations, 283 active landfill disposal sites, 17 waste-to-energy plants, ., Sunbeam, Alcatel, Boston Chicken and IKON Office Solutions IKON Office Solutions (NYSE: IKN) is a Fortune 500 company based in Malvern, Pennsylvania. Formerly part of ALCO Standard. IKON integrates copy machines and fax systems to assist businesses. , Inc. The standing of Berger & Montague, P.C. in successfully conducting major securities and antitrust Antitrust The antitrust laws apply to virtually all industries and to every level of business, including manufacturing, transportation, distribution, and marketing. They prohibit a variety of practices that restrain trade. litigation has been recognized by numerous courts. For example: "Class counsel did a remarkable job in representing the class interests." In Re: IKON Offices Solutions Securities Litigation. Civil Action No. 98-4286(E.D.Pa.) (partial settlement for $111 million approved May, 2000). "...[Y]ou have acted the way lawyers at their best ought to act. And I have had a lot of cases ... in 15 years now as a judge and I cannot recall a significant case where I felt people were better represented than they are here... I would say this has been the best representation that I have seen." In Re: Waste Management, Inc. Securities Litigation, Civil Action No. 97-C 7709 (N.D. Ill.) (settled in 1999 for $220 million). If you purchased Mercator Software, Inc. common stock, or have any questions concerning this notice or your rights with respect to this matter, you may contact: Sherrie R. Savett, Esquire Arthur Stock, Esquire Kimberly A. Walker, Investor Relations Investor relations The process by which the corporation communicates with its investors. Manager Berger & Montague, P.C. 1622 Locust locust, in botany locust, in botany, any species of the genus Robinia, deciduous trees or shrubs of the family Leguminosae (pulse family) native to the United States and Mexico. Street Philadelphia, PA 19103 Phone: 888-891-2289 or 215-875-3000 Fax: 215-875-5715 Website: http://home.bm.net |
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