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Burt &Pucillo Announces Class Action Lawsuit Against Sykes Enterprises, Inc.

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WEST PALM BEACH, Fla.--(BUSINESS WIRE)--Feb. 2, 2000

Notice of Pendency of Class Action

Pursuant to Section 21D(a)(3)(A)(i) of the Securities Exchange Act of 1934 (&uot;Exchange Act&uot;), Notice is hereby given that on February 1, 2000, a class action lawsuit alleging violations of the federal securities laws was filed in the United States District Court for the Middle District of Florida against Sykes Enterprises, Inc. The action is brought on behalf of a class of persons who purchased the common stock of Sykes Enterprises, Inc. (Nasdaq:SYKE) (&uot;Sykes&uot; or the &uot;Company&uot;) during the period from April 26, 1999 through January 31, 2000 (the &uot;Class Period&uot;).

The Complaint alleges that Sykes and key members of management violated the Securities Exchange Act of 1934 and Rule 10(b)(5) by issuing materially false and misleading information concerning Sykes' reported results of operations during 1999. The Complaint alleges that Sykes has failed to comply with GAAP with respect to 1999 financial reporting. The Company's stock price fell to a 52-week low of $18.56 after the disclosure that year end results will be delayed due to questions raised by the Company's auditors.

The action was filed by the firm of Burt &Pucillo, LLP (&uot;Burt &Pucillo&uot;) of West Palm Beach, Florida. The firm of Burt &Pucillo concentrates its practice in the representation of shareholders in class action claims under the federal securities laws in Florida and throughout the United States. For further information on the firm's prior experience in class and securities litigation and expertise in the prosecution of such claims, or if you are a member of the Class described above and wish to serve as a lead plaintiff in this action, you may contact Plaintiff's counsel, Michael J. Pucillo at Burt &Pucillo, at 561/835-9400 or 800/349-4612, or e-mail address: law@burt-pucillo.com. Motions for appointment of a lead plaintiff must be filed on or before April 1, 2000.
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Publication:Business Wire
Geographic Code:1USA
Date:Feb 2, 2000
Words:337
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