Cauley Geller Bowman & Coates, LLP Announces Class Action Lawsuit VA Linux Systems, 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)--Jan. 12, 2001 Seeking Damages on Behalf of Shareholders The Law Firm of Cauley Geller Bowman & Coates, LLP LLP - Lower Layer Protocol announced today that it has filed a class action in the United States District Court United States District Court In the U.S., any of the 94 trial courts of general jurisdiction in the federal judicial system. Each state, as well as the District of Columbia and the Commonwealth of Puerto Rico, has at least one federal district court. for the Southern District of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of on behalf of all individuals and institutional investors who purchased the securities of VA Linux Systems, Inc. ("Linux" or the "Company") (Nasdaq: LNUX) between December 9, 1999 and December 6, 2000, inclusive (the "Class Period"). The complaint charges Linux and certain of its officers and directors with violations of the federal securities laws. On December 9, 1999, Linux completed an initial public offering of 4.4 million of its shares of common stock at an offering price of $30 per share (the "Linux IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. "). In connection therewith there·with adv. 1. With that, this, or it. 2. In addition to that. 3. Archaic Immediately thereafter. Adv. 1. , Linux filed a registration statement, which incorporated a prospectus (the "Prospectus"), with the SEC. The complaint further alleges that the Prospectus was materially false and misleading because it failed to disclose, among other things, that: (i) Credit Suisse had solicited and received excessive and undisclosed commissions from certain investors in exchange for which Credit Suisse allocated to those investors material portions of the restricted number of Linux shares issued in connection with the Linux IPO; and (ii) Credit Suisse had entered into agreements with customers whereby Credit Suisse agreed to allocate Linux shares to those customers in the Linux IPO in exchange for which the customers agreed to purchase additional Linux shares in the aftermarket at pre-determined prices. As alleged in the complaint, the SEC is investigating underwriting practices in connection with several other initial public offerings, including the Linux offering and the offerings of Ariba Inc. and United Parcel Service United Parcel Service, Inc. (NYSE: UPS), commonly referred to as UPS, is the world's largest package delivery company, delivering more than 15 million packages[1] a day to 6.1 million customers in over 200 countries and territories around the world. , Inc. Cauley Geller Bowman & Coates, 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 March 12, 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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