Faruqi & Faruqi, LLP Announces Update On Class Action Lawsuit Against Ravisent Technologies, Inc.Business Editors, Legal Writers NEW YORK--(BUSINESS WIRE)--March 14, 2000 The following announcement was issued by the law firm of Faruqi & Faruqi, LLP LLP - Lower Layer Protocol . Notice is hereby given that on February February: see month. 29, 2000, 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 commenced in the United States District Court for the Eastern District of Pennsylvania The United States District Court for the Eastern District of Pennsylvania is one of the original 13 federal judiciary districts created by the Judiciary Act of 1789. It originally sat in Independence Hall in Philadelphia as the United States District Court for the District of on behalf of all purchasers of Ravisent Technologies, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : RVST RVST Raad Van State (Belgian supreme administrative court) RVST Relative Value Scale in Teaching ) ("Ravisent" or the "Company") common stock between July 15, 1999, and February 17, 2000, inclusive (the "Class Period"). The Complaint charged Ravisent and certain of its executive officers with violations of the federal securities laws, including Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5. Among other things, plaintiff claims that defendants issued a series of materially false and misleading statements in press releases and SEC filings concerning Ravisent's revenues and earnings. As a result, the price of Ravisent's common stock was inflated throughout the Class Period. On March 14, 2000, Ravisent announced that it was restating its previously reported financial results for the quarters ended June 30, 1999 and September 30, 1999. If you purchased Ravisent common stock during the Class Period, you may, not later than 60 days from February 26, 2000, move the court to serve as lead plaintiff of the class, if you so choose. In order to serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action, or have any questions concerning this notice or your rights or interests, please contact: |
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