Class Action filed against Electroscope Inc., John G. Kinnard & Co., and Electroscope's Board of Directors alleging violations of the Federal Securities Laws.NEW YORK--(BUSINESS WIRE)--June 6, 1997--A case seeking to be maintained as a class action has been filed in the United States District Court for the District of Minnesota The United States District Court for the District of Minnesota is the Federal district court whose jurisdiction is the state of Minnesota. It was established by an act of Congress on March 17, 1849. on behalf of purchasers of Electroscope Inc. ("Electroscope") common stock on or traceable to Electroscope's June 25, 1996 initial public offering and up to and including Feb. 7, 1997 (the "Class Period"). The complaint alleges that Electroscope, the issuer of the common stock; John G. Kinnard & Co., the lead underwriter Lead underwriter The head of a syndicate of financial firms that are sponsoring an initial public offering of securities or a secondary offering of securities. Could also apply to bond issues. of Electroscope's initial public offering; and the members of Electroscope's board of directors violated the Securities Act of 1933 because Electroscope's Registration Statement and Prospectus included materially false and misleading statements, and omitted to state other facts necessary to make the statements therein not misleading, regarding, among other things, net revenue growth which was inflated by a one time sale to its distributor to stock inventory, and reduced net revenue which would be reported for the first fiscal quarter ended three business days after the initial public offering. The complaint alleges that as a result of these material misrepresentations and omissions persons and entities who purchased Electroscope common stock during the Class Period described above (the "Class") were damaged. Plaintiff will seek to recover damages or recision re·ci·sion n. The act of rescinding; annulment or cancellation. [Obsolete French, from Old French, annulment of a judgment, from Latin rec on behalf of the Class if a Class is certified by the court. Plaintiff is 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]
Leo [Lat.,=the lion], northern constellation lying S of Ursa Major and on the ecliptic (apparent path of the sun through the heavens) between Cancer and Virgo; it is one of the constellations of the zodiac. W. Desmond, and Hellmuth & Johnson P.A. 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. If you purchased Electroscope common stock during the Class Period described above, you may no later than 60 days from today, move the court to serve as lead plaintiff, 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 plaintiff's counsel, Joseph V. McBride or Marvin L. Frank, 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 , N.Y. 10016, by telephone at 800/497-8076 or 212/682-1818, by facsimile at 212/682-1892, by e-mail at rabinlaw@ix.netcom.com, or by Bloomberg e-mail; Leo Desmond, The Law Office of Leo W. Desmond, 2161 Palm Beach Lakes Blvd., Suite 204, West Palm Beach, Fla. 33409, by telephone at 561/712-8000 or by facsimile at 561/712-8002; or Randall Steinmeyer, Hellmuth & Johnson, P.A., 300 Cabriole cab·ri·ole n. A form of furniture leg that curves outward and then narrows downward into an ornamental foot, characteristic of Queen Anne and Chippendale furniture. Center, 9531 West 78th Street, Eden Prairie, Minn. 55344-8006, by telephone at 612/941-4005, or by facsimile at 612/941-2337. CONTACT: Rabin & Peckel LLP Joseph V. McBride or Marvin L. Frank 800/497-8076 212/682-1818 rabinlaw@ix.netcom.com |
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