Berman DeValerio & Pease Advises Shareholders Of Pending Class Actions.Business Editors & Legal Writers BOSTON--(BUSINESS WIRE)--Sept. 30, 2000 Shareholders have filed class actions alleging securities fraud against Acrodyne Communications, Inc., Lernout & Hauspie Speech Products N.V., Max Internet Communications, Inc., Southwall Technologies, Inc., and Xcelera.com, Inc., the law firm of Berman DeValerio & Pease pease n. pl. pease or peas·en Archaic A pea. [Middle English; see pea. LLP LLP - Lower Layer Protocol (www.bermanesq.com) said today. If you purchased stock in any of the companies, you may be a member of the class and have until the dates specified below to move the court to become the lead plaintiff. You may contact Berman DeValerio & Pease to learn more about your rights and interests in these cases and your ability to potentially recoup recoup To sell an asset at a price sufficient to recover the original outlay or to offset a previous loss. your losses, or you may hire counsel of your own choice. MAX INTERNET COMMUNICATIONS, 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 : MXIP) 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, MAX Internet disclosed May 12 that it had improperly tallied sales based on false documentation, rendering false previously reported financial results for the three- and six-month periods ending December 31, 1999. The company said it was restating those results by more than $10 million. The complaint says MAX's stock price was artificially inflated as a result. Investors who purchased the stock between November 15, 1999 and May 12, 2000 may be part of the class. The lead plaintiff motion must be filed by October 3, 2000. SOUTHWALL TECHNOLOGIES, INC. (NASDAQ: SWTX) The lawsuit charges Southwall with violating federal securities laws by issuing false and misleading statements about its financial condition. In particular, the complaint accuses Southwall of improperly valuing its inventory, prompting a restatement Restatement A revision in a company's earlier financial statements. Notes: The need for restating financial figures can result from fraud, misrepresentation, or a simple clerical error. of its first quarter results. As a result of these revelations, NASDAQ halted trading in Southwall shares. Investors who purchased the stock between April 26, 2000 and August 1, 2000 may be part of the class. The lead plaintiff motion must be filed by October 3, 2000. LERNOUT & HAUSPIE SPEECH PRODUCTS N.V. (NASDAQ: LHSP LHSP List Hosting Service Provider LHSP Left Handed Starting Pitcher ) The complaint says Lernout & Hauspie made misleading statements about its financial results that included overstated o·ver·state tr.v. o·ver·stat·ed, o·ver·stat·ing, o·ver·states To state in exaggerated terms. See Synonyms at exaggerate. o or invented sales in Korea. The company's share price fell once news of the false sales emerged. L&H has since announced that the U.S. Securities and Exchange Commission is investigating the company. If you purchased stock between December 28, 1999 and August 7, 2000, you may be eligible for inclusion in the class. The lead plaintiff motion deadline is October 10, 2000. XCELERA.COM, INC. (AMEX AMEX See: American Stock Exchange : XLA XLA X-Linked Agammaglobulinemia XLA Excel Airways (British airline) XLA Microsoft Excel Addin XLA Xbox Live Arcade (gaming) XLA X-Band Limiter Attenuator XLA Excel Add-in XLA Xlib Archive ) The action charges Xcelera with securities law violations for failing to tell shareholders that an acquisition could significantly dilute Xcelera shareholders' interests. The company also failed to disclose that its status as a foreign company could subject U.S. investors to special taxing provisions that would make them directly liable for the company's gain on a transaction involving its subsidiary - a charge of between $2.35 and $7.00 per share. If you purchased Xcelera common stock during the period of April 1, 1999 through August 9, 2000, and suffered a loss on your investment, you may be eligible to participate in the action. The deadline for seeking to be the lead plaintiff is October 10, 2000. ACRODYNE COMMUNICATIONS, INC. (NASDAQ: ACRO acro Acronym ACRO Australian Creative Resources Online ACRO Association of Clinical Research Organizations ACRO American College of Radiation Oncology ACRO Aircraft Crashes Record Office (Geneva, Switzerland) acro acrolein ) The complaint charges Acrodyne with issuing false and misleading financial statement that may require the company to 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 1999 and first quarter 2000 financial statements. Investors who purchased Acrodyne securities between May 18, 1999 and August 14, 2000 may be part of the action. The lead plaintiff motion is required to be filed no later than October 16, 2000. 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 prosecuted shareholder class actions since 1982, recovering more than $1 billion for investors. The firm has acted as lead counsel in numerous lawsuits in which its clients accused companies of violating federal securities laws. It has successfully litigated these actions, and has been singled out for its excellence by the courts. The firm prides itself on its responsiveness to shareholders and their needs in each case. If you are an investor in any of the companies listed above, or have any questions about any of these securities class actions, please contact the firm at (800) 516-9926. To be participant in any of these class actions, you need not take any action at this time. If you do have questions, please call us and ask to speak to one of the attorneys handling the case you are seeking information about or ask for Jeffrey C. Block, Esq. or Michael G. Lange, Esq. You can also write the firm at One Liberty Square, Boston, MA 02109, send us a facsimile at (617) 542-1194 or send us an e-mail at bdplaw@bermanesq.com. To learn more about any of these cases, or class actions in general, visit the firm's website at www.bermanesq.com. |
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