Class Action Suit Filed Against Wiz Technology, Inc. and Its Officers and Directors Alleging Misrepresentations and False Financial Statements.SAN DIEGO San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , Calif.--(BUSINESS WIRE)--March 5, 1997--A class action has been commenced in the California Superior Court for Orange County on behalf of purchasers of Wiz Technology, Inc. ("Wiz") common stock during the period December 11, 1995 to November 11, 1996. The complaint charges Wiz and certain of its officers and directors with violations of the California Corporations, Civil and Business & Professions Codes, which violations involve the issuance of false financial statements and other positive statements. Defendants used the inflated share value of Wiz stock to acquire another software company before the truth concerning Wiz's business and finances began to be revealed. Wiz's stock price, which had traded as high as $9 per share during the Class Period, traded down to $2.50 before trading was halted. The American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. has de-listed the Company's stock. Plaintiffs seek to recover damages on behalf of all purchasers of WIZ common stock during the Class Period (the "Class"). They are represented by several 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]
Milberg Weiss has been actively engaged in 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. , emphasizing securities and antitrust class actions, for more than 20 years. The firm has offices in 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 , San Diego, San Francisco and Los Angeles and is active in major litigations pending in federal and state courts throughout the United States. The firm's reputation for excellence has been recognized on repeated occasions by courts which have appointed the firm to major positions in complex multi-district or consolidated litigations. Milberg Weiss has taken a lead role in numerous important actions on behalf of defrauded investors, and has been responsible for a number of outstanding recoveries which, in the aggregate, total approximately $2 billion. For additional information about Milberg Weiss, see the firm's website at http://www.milberg.com . If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiffs' counsel, William Lerach or Blake Harper of Milberg Weiss at 800/348-6192. CONTACT: Milberg Weiss Bershad Hynes & Lerach LLP William Lerach or Blake Harper, 800/348-6192 |
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