Class Action Complaint Against Max Internet Communications Inc. and Certain of Its Officers and Directors Alleging Violations of Federal Securities Law Filed by Rabin & Peckel LLP.Legal Editors NEW YORK--(BUSINESS WIRE)--Aug. 8, 2000 The following is an announcement by the law firm of Rabin & Peckel LLP LLP - Lower Layer Protocol : A class action complaint has 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. on behalf of all persons or entities who purchased or otherwise acquired common stock of Max Internet Communications Inc. ("Max" or the "Company") (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 :MXIP) between November 15, 1999 and May 12, 2000, inclusive (the "Class Period"). The Complaint alleges that Max and certain of its officers and directors violated the Securities Exchange Act of 1934 by making a series of materially false and misleading statements concerning the Company's financial results during the Class Period. During the Class Period, the Company reported financial results which were materially inflated by inclusion of the financial results for its Brazilian subsidiary which were materially 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 as a result of fraudulently booked transactions. Using these false financial statements, Max was able to consummate more than $9 million worth of stock sales and obtain a listing on NASDAQ. The Complaint alleges that as a result of these false and misleading statements the price of Max common stock was artificially inflated throughout the Class Period causing plaintiff and the other members of the Class to suffer damages. Plaintiff is represented by the law firm of Rabin & Peckel LLP. Rabin & Peckel LLP and its predecessor firms have devoted its practice to shareholder class actions and complex commercial litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. for more than thirty years and have recovered hundreds of millions of dollars for shareholders in class actions throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . If you purchased or otherwise acquired Max common stock during the Class Period described above, you may, no later than sixty days after August 4, 2000, move the Court to serve as lead plaintiff. To serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action or have any questions concerning this announcement, or your rights or interests, please contact plaintiff's counsel, Mary E. Neu, Rabin & Peckel LLP, 275 Madison Avenue, 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 , NY 10016, by telephone at (800) 497-8076 or (212) 682-1818, by facsimile at (212) 682-1892, by e-mail at email@rabinlaw.com, or at the website at www.rabinlaw.com. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion