Cauley & Geller, LLP Announces That Purchasers of CapRock Communications Corp. Common Stock Have Until September 25th to Move for Lead Plaintiff.Business Editors SAN DIEGO--(BUSINESS WIRE)--Sept. 7, 2000 Cauley & Geller LLP LLP - Lower Layer Protocol announced today that purchasers of CapRock Communications Corp.("CapRock" or the "Company") (Nasdaq:CPRK CPRK Crowne Plaza Riverside Kuching (Malaysia) ) securities between April 28, 2000 and July 6, 2000 inclusive (the "Class Period"), must move for Lead Plaintiff by September 25, 2000, to exercise some control over the securities fraud class actions which have been filed 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. . The class action complaints generally allege To state, recite, assert, or charge the existence of particular facts in a Pleading or an indictment; to make an allegation. allege v. that the Company made false and misleading statements concerning the revenues to be derived from its dark fiber segment, which would result in a second quarter 2000 loss per share of only $0.08 and revenue of $70 million, artificially inflated the price of CapRock stock to a Class Period high of $36. The complaints also allege that CapRock's top officers knew but concealed con·ceal tr.v. con·cealed, con·ceal·ing, con·ceals To keep from being seen, found, observed, or discovered; hide. See Synonyms at hide1. that some $30 million of its projected $70 million in second quarter 2000 revenues was to be derived from a contract which, despite months of efforts, was not signed. On July 6, 2000, just days after CapRock raised $83 million in a Secondary Offering, CapRock revealed that it was in fact suffering a huge drop in revenues, and that its losses would be 800% greater than defendants had stated in the prior weeks, and exposed the problems that CapRock had been experiencing during the Class Period with its dark fiber business. This announcement caused its stock price to drop to as low as $12 from its Class Period high of $36. Cauley & Geller, LLP has substantial experience in prosecuting 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 on behalf of investors. The firm has offices in Arkansas, Florida and California, but represents shareholders from throughout the nation. Please contact us if you wish to serve as one of the lead plaintiffs, or if you want additional information about this case, visit our website at www.classlawyer.com , or E-mail or call us at: CAULEY & GELLER, LLP 225 Broadway, Suite 1900 San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , CA 92101 E-mail: info@classlawyer.com 1-888-551-9944 -- toll free www.classlawyer.com |
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