Class Action Lawsuit Commenced Against Indus International, Inc. by Bernstein Liebhard &Lifshitz, LLP.Business Editors &Legal Writers NEW YORK--(BUSINESS WIRE)--Feb. 10, 2000 A securities 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 was commenced on behalf of purchasers of the common stock of Indus International, Inc.(Nasdaq:IINT) (&uot;Indus International&uot; or the &uot;Company&uot;), between October 29, 1999 and January 27, 2000, inclusive, (the &uot;Class Period&uot;), 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 . The complaint charges Indus International and certain of its directors and executive officers with violations of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated prom·ul·gate tr.v. prom·ul·gat·ed, prom·ul·gat·ing, prom·ul·gates 1. To make known (a decree, for example) by public declaration; announce officially. See Synonyms at announce. 2. thereunder. The complaint alleges that the defendants issued materially false and misleading financial statements during the Class Period. Specifically, the complaint alleges that the financial statements for the third quarter ended September 30, 1999 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 the Company's revenues and net income which resulted in the Company's stock being artificially inflated. The truth was revealed at the end of the Class Period when the Company announced that it 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 results for the third quarter, reducing its net income by 89%. When the truth was disclosed, Indus International's stock price plunged to close at $7.625, more than 23% below its previous close and 42% below the Class Period high of $13 per share. Plaintiff seeks to recover damages on behalf of all those who purchased or otherwise acquired Indus International common stock during the Class Period. If you purchased or otherwise acquired Indus International securities during the Class Period, and either lost money on the transaction or still hold the stock, you may wish to join in the action to serve as lead plaintiff. In order to do so, you must meet certain requirements set forth in the applicable law and file appropriate papers no later than April 3, 2000. Bernstein Liebhard &Lifshitz, LLP LLP - Lower Layer Protocol has been retained as one of the law firms This list of the world's largest law firms by revenue is taken from The Lawyer and The American Lawyer and is ordered by 2006 revenue:[1]
If you would like to discuss this action or if you have any questions concerning this Notice or your rights as a potential class member or lead plaintiff, you may contact Mr. Mark Punzalan, Director of Shareholder Relations at Bernstein Liebhard &Lifshitz, LLP, 10 East 40th Street, 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 , New York 10016, (800) 217-1522 or 212-779-1414 or by e-mail at IINT@bernlieb.com. |
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