CyberShop.com Inc. Sued for Securities Fraud, Announces Berman DeValerio & Pease LLP.Business Editors & Legal Writers BOSTON--(BUSINESS WIRE)--March 30, 2000 Berman Berman may refer to:
n. pl. pease or peas·en Archaic A pea. [Middle English; see pea. LLP LLP - Lower Layer Protocol Boston's largest and most experienced law firm specializing in representing shareholders in class action lawsuits, issues the following press release: A securities class action was filed on March 17, 2000 against CyberShop.Com, Inc. ("CyberShop" or the "Company") (Nasdaq: CYSP) and certain of its officers on behalf of all persons who purchased the common stock of CyberShop between October October: see month. 26, 1999 and February 24, 2000, inclusive (the "Class Period"). The lawsuit lawsuit: see procedure; tort. , which seeks class action status, is brought in the United States District Court for the District of New Jersey The United States District Court for the District of New Jersey is the Federal district court whose jurisdiction is the state of New Jersey. It was established in 1789. New Jersey is the largest state by population to only have one District Court. The Honorable Garrett E. for violations of sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The action charges that CyberShop improperly im·prop·er adj. 1. Not suited to circumstances or needs; unsuitable: improper shoes for a hike; improper medical treatment. 2. reported its financial condition in its public filings with the Securities and Exchange Commission and in its press releases during fiscal year 1999. These statements inflated the price of CyberShop's common stock and allowed its top officer to sell a substantial amount of his holdings at artificially-inflated prices. In February 2000, CyberShop belatedly be·lat·ed adj. Having been delayed; done or sent too late: a belated birthday card. [be- + lated. disclosed that it would be closing its previously touted electronic-retailing business and that operations in the third quarter of 1999 had actually declined, in contrast to previous reports. If you purchased CyberShop common stock during the period October 26, 1999 through February 24, 2000, and suffered a loss on your investment, you may wish to contact the lawyers at Berman, DeValerio & Pease LLP to discuss your rights and interests: Alicia M. Duff, Esq. Michael G. Lange, Esq. Berman, DeValerio & Pease LLP One Liberty Square, Boston, MA 02109 E-Mail: bdplaw@bermanesq.com (800) 516-9926 You can also visit us at our website at www.bermanesq.com. In addition, under the federal securities laws you may, but not later than sixty days from March 1, 2000, move the court to serve as lead plaintiff of the Class, if you so choose. To serve as lead plaintiff, however, you must meet certain legal requirements. You may contact the attorneys at Berman, DeValerio & Pease LLP to discuss your rights regarding the appointment of lead plaintiff. You may seek to have Berman DeValerio & Pease LLP, or any other attorney, represent you in this action. Berman, DeValerio & Pease LLP, with offices in Boston and 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 , has substantial experience in prosecuting shareholder class actions. The firm has been appointed lead counsel in numerous actions involving companies issuing false and misleading statements, has successfully litigated these actions and has been singled out for its excellence by many courts. The firm prides itself on its responsiveness to shareholders and their needs in particular cases. |
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