Class action lawsuit filed against Itron.
SAN FRANCISCO San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden & SEATTLE--(BUSINESS WIRE)--May 27, 1997--A securities fraud 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 has been filed in the U.S. District Court for the Eastern District of Washington against Itron Inc. (Nasdaq: ITRI ITRI Industrial Technology Research Institute (Taiwan, ROC)
ITRI Information Technology Research Institute
ITRI Inhalation Toxicology Research Institute
ITRI International Tin Research Institute Ltd
ITRI Information Technology Reuse Initiative ) and its Chief Executive Officer and President, Johnny M. Humphreys (Civil Action CS-97-214-RHW).
The suit, filed by plaintiff Mark G. Epstein, seeks class action status on behalf of all persons who purchased the common stock of Itron during the period Sept. 11, 1995, through Oct. 22, 1996, and lost money.
Itron, based in Spokane, Wash., manufactures and markets electronic devices and systems designed to automatically read gas, water and electric utility meters. The lawsuit alleges that since at least September of 1995 through the end of the class period Itron and Humphreys fundamentally misrepresented the performance and technological capabilities of Itron's Genesis fixed network system. In particular, defendants have failed to reveal the extent and nature of problems inhibiting Itron's encoder receiver transmitter modules from operating in real time with Itron's fixed network automatic meter reading Automatic meter reading, or AMR, is the technology of automatically collecting data from water meter or energy metering devices (water, gas, electric) and transferring that data to a central database for billing and/or analyzing. technology. The complaint details the various technological problems inherent in the Itron devices which have prevented Itron from successfully operating advanced fixed network systems.
Due to the pattern of misrepresentation misrepresentation
In law, any false or misleading expression of fact, usually with the intent to deceive or defraud. It most commonly occurs in insurance and real-estate contracts. False advertising may also constitute misrepresentation. during the class period, plaintiff and all of the purchasers of Itron common stock were defrauded into paying inflated prices for their stock. Plaintiff's counsel estimate that the aggregate damages may be in the millions of dollars.
Plaintiff is represented by the San Francisco based law firm of Berman DeValerio Pease pease
n. pl. pease or peas·en Archaic
[Middle English; see pea. & Tabacco and the Seattle based 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:
(Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. Milstein Hausfeld & Toll, P.L.L.C., and Lopez and Fantel. Collectively, the law firms possess extensive experience in representing investors and consumers in class actions nationally. If you purchased Itron common stock between Sept. 11, 1995 and Oct. 22, 1996 and lost money you may join in this action. You may also move the Court to serve as lead plaintiff for the Class, but must do so no later than July 28, 1997. In order to qualify to serve as a lead plaintiff you must meet certain legal standards.
To receive more information about this lawsuit, your rights as an Itron shareholder or the background and qualifications of counsel for plaintiff you may contact Joseph Tabacco or Christopher Heffelfinger of Berman DeValerio Pease & Tabacco at 415/433-3200 or by E-mail at BDPTLAW@AOL.com, or Steven Toll or Matthew Ide of Cohen Milstein Hausfeld & Toll, P.L.L.C., at 206/521-0080.
CONTACT: Joseph Tabacco or Christopher Heffelfinger
Berman DeValerio Pease & Tabacco
Steven Toll or Matthew Ide
Cohen Milstein Hausfeld & Toll, P.L.L.C.