Cauley & Geller Announces Deadline to Move for Lead Plaintiff is Oct. 3, 2000.Business Editors SAN DIEGO--(BUSINESS WIRE)--Sept. 7, 2000 Cauley & Geller announced today that purchasers of Southwall Technologies Inc. ("Southwall") (Nasdaq:SWTXE) securities between April 26, 2000 and Aug. 1, 2000 (the "Class Period") must move for Lead Plaintiff within the next month to exercise some control over a class action case of securities fraud which affects their rights. The Lead Plaintiff motion papers must be filed with the United States District Court For the Northern District of California The United States District Court for the Northern District of California is the Federal district court whose jurisdiction comprises following counties: Alameda, Contra Costa, Del Norte, Humboldt, Lake, Marin, Mendocino, Monterey, Napa, San Benito, San Francisco, San Mateo, Santa by Oct. 3, 2000. Several securities fraud class action complaints have been filed in United States District Court For the Northern District of California which 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 Southwall and certain of its officers and directors violated the Securities Exchange act of 1934. On 8/1/00, Southwall announced that the company would 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 first quarter 2000 financial statements as a result of accounting misstatements that will require "revisions in the value of inventory, particularly work in process, based on recording errors that affected the book value of raw materials and work in process, as well as errors in the application of cost standards to the work in process." Although the company has not quantified the impact of this 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. , it believes its revised financial results will show a material net loss for the first quarter compared to a previously reported net income of $0.11 per diluted share. In addition, the company is reviewing whether these accounting issues had any impact on its 1999 financial statements. On these shocking disclosures, trading in Southwall stock was halted, after last trading at $6-1/2 on 8/1/00. Cauley & Geller LLP LLP - Lower Layer Protocol 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 California, Florida and Arkansas, but represents shareholders from throughout the nation. If you have any questions about how you may file the Lead Plaintiff motion, or may be able to recover for your losses, please contact Cauley & Geller. You are encouraged to call or e-mail the Firm, or visit the Firm's Web site at www.classlawyer.com. 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 888/551-9944 -- toll free www.classlawyer.com |
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