Cauley & Geller, LLP Announces Class Action Lawsuit Against Kitty Hawk, Inc. Seeking Damages On Behalf of Shareholders.Business/Legal Editors 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)--April 28, 2000 The Law Firm of Cauley & Geller, LLP LLP - Lower Layer Protocol announced today that it has filed a class action in the United States District Court for the Northern District of Texas The United States District Court for the Northern District of Texas (N.D. Tex.) is a United States district court. Its first judge, Andrew Phelps McCormick, was appointed to the court on April 10, 1879. The court convenes in Dallas, Texas. on behalf of all individuals and institutional investors that purchased the common stock of Kitty Hawk Kitty Hawk or Kittyhawk, part of an offshore sandbar on Cape Hatteras, NE N.C., E of Albemarle Sound. Nearby is Kill Devil Hill, where the Wright brothers experimented successfully (1900–1903) with gliders and airplanes. , Inc. ("Kitty Hawk" or the "Company") (Nasdaq:KTTY, now KTTYE) between April 22, 1999 and April 11, 2000, inclusive (the "Class Period"). The complaint charges that the Company and certain of its officers and directors violated the federal securities laws by providing materially false and misleading information about the Company's financial results. Specifically, the Complaint alleges that the Company's financial statements made during the class period were materially false and misleading because the Company 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 its revenues, income, earnings and net worth. As a result of these false and misleading statements the Company's stock traded at artificially inflated prices during the class period. When the truth about the Company was revealed, the price of the stock dropped over 80% in one day and 93% from a class period high of $13.50. 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 take appropriate action within 60 days of today. You are encouraged to call or e-mail the Firm. |
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