Ecometry Corporation Reports Dismissal of Class Action Lawsuit.Business Editors/High Tech Writers DELRAY BEACH Delray Beach, resort city (1990 pop. 47,181), Palm Beach co., SE Fla., on the Atlantic coast; settled 1895, inc. 1911. Mostly residential, Delray Beach is also the trade center for a citrus-fruit and vegetable-growing region. , Fla.--(BUSINESS WIRE)--April 23, 2002 Ecometry(R) Corporation (Nasdaq:ECOM ECOM Electronic Commerce ECOM Emergency Communications ECOM Electronics Command (Army) ECOM Emission Control ECOM Electronic Computer-Originated Mail ECOM United States Army Electronics Command ECOM Ethernet Communication Module ), a leading provider of integrated software solutions for multi-channel commerce, today announced the dismissal of a complaint in a purported shareholder 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 against Ecometry and certain Ecometry officers and directors (In re Smith-Gardner Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , Case No. 2000-CIV-8547). The complaint alleged that Ecometry made material misrepresentations and omissions related to the appropriate accounting for an alleged December 1999 transaction with Ecometry's customer, ToyTime.com. The U.S. District Court for the Southern District of Florida dismissed this complaint on March 19, 2002. The deadline for Plaintiffs to file an amended complaint amended complaint n. what results when the party suing (plaintiff or petitioner) changes the complaint he/she has filed. It must be in writing, and can be done before the complaint is served on any defendant, by agreement between the parties (usually their lawyers), expired on April 10, 2002. The deadline for Plaintiffs to file a notice of appeal from the order dismissing the complaint was April 18, 2002. Plaintiffs neither filed an amended complaint, nor a notice of appeal. "We have always been confident that this litigation was without merit and are pleased with its dismissal," said Wilburn W. Smith, Chairman of the Board of Directors. About Ecometry Corporation Ecometry is a provider of multi-channel commerce solutions worldwide. The Ecometry family of products ensures customer satisfaction throughout the multi-channel shopping and buying experience. Its flagship product, Ecometry Retail Enterprise(TM), is a customer-centric, high volume suite of business applications designed to completely automate front-end and back-end In their most general meanings, the terms front end and back end refer to the initial and the end stages of a process flow. These terms acquire more special meanings in particular areas. operations across multiple channels. It enables retailers to acquire, retain and manage customers, suppliers and partners from one centralized database. Headquartered in Delray Beach, Florida Delray Beach is a city in Palm Beach County, Florida, USA. As of the 2000 census, the city had a total population of 60,020. As of 2004, the population estimated by the U.S. Census Bureau is 64,150. , Ecometry's client roster includes industry-leading retailers such as Nordstrom, Time Life, Brookstone, Zales, Hickory Farms, Levenger, KBKids.com, Nine West, Coldwater Creek, Hallmark, Urban Outfitters and RedEnvelope.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. This news release may contain forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release which are not strictly historical statements constitute forward-looking statements. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated by the forward-looking statements, including, without limitation, risks and uncertainties described in the Company's prospectus dated January 29, 1999, Forms 10-K and 10-Q and other documents filed with the Securities and Exchange Commission. The Company assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein. |
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