Printer Friendly
The Free Library
23,416,916 articles and books


Class action lawsuit filed against Itron.

SAN FRANCISCO & SEATTLE--(BUSINESS WIRE)--May 27, 1997--A securities fraud class action lawsuit has been filed in the U.S. District Court for the Eastern District of Washington against Itron Inc. (Nasdaq: ITRI) 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 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 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 & Tabacco and the Seattle based law firms of Cohen 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

415/433-3200

E-mail: BDPTLAW@AOL.com

or

Steven Toll or Matthew Ide

Cohen Milstein Hausfeld & Toll, P.L.L.C.

206/521-0080
COPYRIGHT 1997 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1997, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:May 27, 1997
Words:444
Previous Article:New CNet 10/100 ethernet adapter sets low-price standard; CNet Pro110 PowerNIC enables quick, economical network access in 10- and 100-Mbps ethernet...
Next Article:Raychem, Tadiran Telecommunications Enter Global Distribution Pact For Wireless System; Multigain Wireless Local Loop System Provides Full Voice,...
Topics:



Related Articles
Lawyers, Guns and Money.
TARGET OF LAWSUIT CITES FREE SPEECH.
JUDGE DISMISSES BOY'S SUIT OVER BOMB REPORT.
RAPE SUIT FILED AGAINST A.V. SCHOOL DISTRICT.
EX-PARK GUARDS FILE SUIT AGAINST MAGIC MOUNTAIN.
TAXPAYERS SHOULD COUNTERSUE OVER BANK HEIST SHOOTOUT.
CALPERS MOVES TO JOIN SUIT : GOAL IS TO RECOVER FUNDS FROM GRACE EXECUTIVES.
NEW SUIT TARGETS RELEASE OF TOXICS : LOCKHEED FACES 3RD COMPLAINT.
LOCKYER SLAPS SEMPRA WITH GOUGING LAWSUIT.

Terms of use | Copyright © 2014 Farlex, Inc. | Feedback | For webmasters