REPEAT/ Spector, Roseman & Kodroff, P.C. Files Class Action Suit Against Ascendant Solutions, Inc.Business Editors/Legal Writers REPEAT... PHILADELPHIA-(BUSINESS WIRE)--Feb. 24, 2001-The following statement was issued today by the law firm of Spector, Roseman & Kodroff, P.C.: Notice is hereby given 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 Northern District of Texas The United States District Court for the Northern District of Texas (N.D. Tex.) is a United States district court. Its first judge, Andrew Phelps McCormick, was appointed to the court on April 10, 1879. The court convenes in Dallas, Texas. on behalf of all persons who purchased the common stock of Ascendant Solutions, Inc., formerly known as ASD ASD abbr. atrial septal defect ASD Atrial septal defect, see there Systems, Inc., (ASD or the Company) (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 :ASDS ASDS Advanced SEAL Delivery System ASDS American Society of Dermatologic Surgery ASDS Accunet Spectrum of Digital Services (AT&T) ASDS Advanced Sensor Distribution System ASDS Air Situation Display System ASDS Airborne Serial Data System ) between November 11, 1999 and January 24, 2000, inclusive (the Class Period). The lawsuit lawsuit: see procedure; tort. alleges that ASD and certain of its officers and directors violated vi·o·late tr.v. vi·o·lat·ed, vi·o·lat·ing, vi·o·lates 1. To break or disregard (a law or promise, for example). 2. To assault (a person) sexually. 3. the Securities Exchange Act of 1934 by issuing false and misleading statements concerning the Company's business. Specifically, the complaint alleges that the Prospectus for the Company's November 11, 1999 initial public offering contained materially false and misleading statements regarding the Company's past performance and ability to provide reliable outsourced services to online retailers and direct marketing companies. On January 24, 2000, ASDs misrepresentations were revealed and the price of ASD common stock collapsed by more than 30%. Plaintiffs seek to recover damages on behalf of all purchasers of ASD common stock during the Class Period (the Class). The plaintiffs are represented by the law firm of Spector, Roseman & Kodroff, P.C., among others, who have extensive experience in prosecuting investor class actions and financial fraud. If you are a member of the Class described above, you may, no later than March 30, 2001, 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 plaintiffs counsel Robert M. Roseman toll-free at 888/844-5862 or via E-mail at classaction@spectorandroseman.com. For more detailed information about the firm please visit its website at http://www.spectorandroseman.com. |
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