Chestnut & Cambronne, P.A. Announces the Filing of a Class Action Lawsuit Against Unify Corporation.Business Editors & Legal Writers MINNEAPOLIS--(BUSINESS WIRE)--Aug. 18, 2000 Chestnut chestnut, name for any species of the genus Castanea, deciduous trees of the family Fagaceae (beech or oak family) widely distributed in the Northern Hemisphere. They are characterized by thin-shelled, sweet, edible nuts borne in a bristly bur. & Cambronne, P.A. announced today that it commenced a class action lawsuit 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 August 16, 2000 in 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 on behalf of purchasers of Unify Corporation (company) Unify Corporation - Developers of the Unify relational database. At one time, before Sybase, they were a competitor of Oracle, et al. http://unify.com/. ftp://ftp.unify.com/. common stock (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : UNFY) for the period between May 19, 1999 and July 28, 2000. The complaint states that during the proposed class period, Unify 1. (database, product) Unify - A relational database produced by Unify Corporation. 2. (algorithm) unify - To perform unification. issued false financial results improperly reporting revenues. The complaint also states that two of the company's most senior officers were placed on "administrative leave" after it was determined that the company had engaged in improper accounting practices. It is also alleged that during the proposed class period, the president and chief executive officer, Reza Mikailli, and the chief financial officer, Gary Pado, sold over $7 million of Unify stock. If you would like to discuss this action or have any questions concerning this notice or your rights or interests with respect to this matter, please contact Becky Erickson, Chestnut & Cambronne, P.A., 3700 Piper Tower, Minneapolis Minnesota 55402. Telephone: 612/339/7300 or berickson@chestnutcambronne.com If you wish to apply to be the Lead Plaintiff in this action, a motion must be filed on your behalf with the court by no later than September 29, 2000. To be a member of the class you need not take any action at this time and you may retain counsel of your own choice. To serve as the Lead Plaintiff, however, you must meet certain legal requirements. You may contact the attorneys at Chestnut & Cambronne, P.A. to discuss your rights regarding the appointment of Lead Plaintiff and your interest in the class action. |
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