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Cyber-Care, Inc. Sued By Stock Purchaser In Class Action Filed By Donovan Miller, LLC.


Business Editors

PHILADELPHIA--(BUSINESS WIRE)--June 3, 2000

The law firm of Donovan Miller, LLC (Logical Link Control) See "LANs" under data link protocol.

LLC - Logical Link Control
, announced today that a 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
 was filed in the United States District Court for the Southern District of Florida The United States District Court for the Southern District of Florida (S.D.Fl.) is the federal district court covering the southern part of the state of Florida. The court's jurisdiction comprises the following counties: Broward, Dade, Highlands, Indian River, Martin, Monroe,  against Cyber-Care, Inc.("Cyber-Care") (Nasdaq: CYBR CYBR Copy Byte Right  - news) and its Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Michael F. Morrell on behalf of all persons who purchased Cyber-Care common stock between October 12, 1999 and May 12, 2000, inclusive (the "Class Period"), Case No. 00-8422.

The Complaint alleges that, during the Class Period, Cyber-Care and its CEO Morrell (collectively, the "Defendants") violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, by among other things, issuing materially false and misleading statements to the investing public regarding its business and finances. In particular, the Complaint alleges that the Defendants issued press releases touting sales and customer interest in the Company's Internet Electronic Housecall System, ("EHS EHS Environmental Health and Safety
EHS Early Head Start (pre-school program)
EHS Extremely Hazardous Substance (EPA)
EHS Environmental Health Services
EHS Exchange Hosted Services
"), despite not having the required Food and Drug Administration approval to market and sell EHS and despite the financial inability of many of the purported customers to purchase the number of EHS indicated. The text of the specific press releases referenced in the complaint from February 26, 2000 to date can be obtained at http://biz.yahoo.com/n/c/cybr.html. Specific dates of press releases referenced in the complaint include, but are not limited to: October 12, 1999; December 10 & 20, 1999; January 13, 2000; February 4, 24 & 28, 2000; and March 21 & 22, 2000. After having traded as high as $37.00 per share during the class period, Cyber-Care's common stock fell as low as $5.60 per share after the true facts were disclosed.

Plaintiff is represented by the law firm of Donovan Miller, LLC and others. The members of Donovan Miller, LLC have significant experience in litigating class actions on behalf of investors and shareholders. The firm maintains a website at http://www.dmlaw.com.

If you are a member of the class described above, you may move the court to serve as lead plaintiff within 60 days of July 14, 1999. If you wish to discuss this action, or have any questions concerning your rights, please contact Michael D. Donovan at Donovan Miller, LLC, 1608 Walnut Street A number of streets are named Walnut Street:
  • Walnut Street (Harrisburg)
  • Walnut Street (Philadelphia)
Walnut Street may also refer to:
  • Walnut Street Bridge
  • Walnut Street (NJT station), in Montclair, New Jersey
, Suite 1400, Philadelphia, PA 19103; phone: (800) 619-1677 or (215) 732-6020; e-mail: mdonovan@dmlaw.com or dmlaw@erols.com.
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Copyright 2000, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1USA
Date:Jun 3, 2000
Words:391
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