Cauley & Geller, LLP Announces Class Action Lawsuit Against Alpharma, Inc.Business Editors & Legal Writers BOCA RATON Boca Raton (bō`kə rətōn`), city (1990 pop. 61,492), Palm Beach co., SE Fla., on the Atlantic; inc. 1925. Boca Raton is a popular resort and retirement community that experienced significant industrial development in the 1970s and 80s. , Fla.--(BUSINESS WIRE)--Nov. 7, 2000 Seeking Damages on Behalf of Shareholders The Law Firm of Cauley & Geller, LLP LLP - Lower Layer Protocol announced that on November 7, 2000, it filed a class action 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 individuals and institutional investors Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. that purchased the common stock of Alpharma, Inc. ("Alpharma" or the "Company") between April 29, 1999 and October 30, 2000, inclusive (the "Class Period"). The complaint alleges that the Company and certain of its officers and directors violated vi·o·late tr.v. vi·o·lat·ed, vi·o·lat·ing, vi·o·lates 1. To break or disregard (a law or promise, for example). 2. To assault (a person) sexually. 3. the federal securities laws by providing materially false and misleading information about the Company's financial condition, and as a result of these false and misleading statements the Company's stock traded at artificially inflated prices during the class period. On October 31, 2000, Alpharma issued a press release announcing that the Company will 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 financial statements for the year 1999 and the first two quarters of 2000 as a result of falsified sales invoices at the Brazilian location of its Animal Health Division. The press release stated that "a small number of employees responsible for the Brazilian operations of its Animal Health Division collaborated . . . to create invoices that were either not supported by underlying transactions or for which the recorded sales were inconsistent with the underlying transactions. . . . The period affected covers all four quarters of 1999 and the first two quarters of 2000. The net reduction in revenue is approximately $7 million or about on half of one percent and $.06 in earnings per share or about three percent over the six quarter period." Cauley & Geller, LLP has substantial experience representing investors in securities fraud class action lawsuits 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 such as this. The firm has offices in Florida, Arkansas and California, but represents shareholders from throughout the nation. If you have any questions about how you may be able to recover for your losses, or if you would like to consider serving as one of the lead plaintiffs in this lawsuit, you must meet certain requirements and take appropriate action by January 2, 2001. You are encouraged to call or e-mail the Firm or visit the Firm's website at www.classlawyer.com. |
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