Class action lawsuit filed against Itron.
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
Steven Toll or Matthew Ide
Cohen Milstein Hausfeld & Toll, P.L.L.C.