Class Action Filed Against Microfield Graphics, Inc. and John B. Conroy Alleging Violations of Federal Securities Law.Business Editors &Legal Writers NEW YORK--(BUSINESS WIRE)--Feb. 1, 2000 The following is an announcement by the law firm of Rabin &Peckel LLP LLP - Lower Layer Protocol : A class action has been commenced 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 purchasers of Microfield Graphics, Inc. (&uot;Microfield&uot; or the &uot;Company&uot;) common stock during the period from July 23, 1998 through April 2, 1999, inclusive (the &uot;Class Period&uot;). The Complaint alleges that Microfield and John B. Conroy, President and Chief Executive Officer of the Company, violated vi·o·late tr.v. vi·o·lat·ed, vi·o·lat·ing, vi·o·lates 1. To break or disregard (a law or promise, for example). 2. To assault (a person) sexually. 3. section 10(b) of the Securities Exchange Act of 1934. In particular, it is alleged that defendants issued a series of false and misleading statements concerning, among other things, the purchase agreement with 3M which caused a substantial increase in sales in late 1997 and early 1998 and the Company's failure to disclose that 3M had placed virtually no orders for the third and fourth fiscal quarter of 1998. The Complaint alleges that, as a result of these material misstatements and omissions, Microfield's stock price was artificially inflated throughout the Class Period. Plaintiff seeks to recover damages suffered by class members and 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 are a member of the class described above, you may, no later than April 3, 2000 move the Court to serve as lead plaintiff of the class, if you so choose. 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 Joseph V. McBride, Rabin &Peckel LLP, 275 Madison Avenue Madison Avenue, celebrated street of Manhattan, borough of New York City. It runs from Madison Square (23d St.) to the Madison Bridge over the Harlem River (138th St.). In the 1940s and 50s, some of the major U.S. , New York, 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. |
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