Stull, Stull & Brody Announces Class Action Lawsuit Against Nuance Communications Inc. On Behalf Of Shareholders Who Purchased Stock between January 31, 2001 and March 15, 2001.Business Editors & Legal Writers LOS ANGELES--(BUSINESS WIRE)--April 26, 2001 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 California The United States District Court for the Northern District of California is the Federal district court whose jurisdiction comprises following counties: Alameda, Contra Costa, Del Norte, Humboldt, Lake, Marin, Mendocino, Monterey, Napa, San Benito, San Francisco, San Mateo, Santa , on behalf of all person or entities who purchased or otherwise acquired the securities of Nuance Communications Nuance Communications is a computer software technology company. Their current worldwide headquarters is in Burlington, Massachusetts in the United States. Nuance provides speech and imaging solutions and is mainly known for its speech recognition and speech synthesis software that , Inc. ("Nuance nu·ance n. 1. A subtle or slight degree of difference, as in meaning, feeling, or tone; a gradation. 2. Expression or appreciation of subtle shades of meaning, feeling, or tone: " 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 :NUAN NUAN New User Action Notation (modeling language) ), common stock between January 31, 2001 to March 15, 2001, inclusive (the "Class Period"). You may obtain a copy of the complaint from the Court or from Stull stull n. 1. A supporting timber or other prop in a mine. 2. A platform braced against the sides of a working area in a mine. , Stull & Brody. The complaint alleges that Nuance and certain of its officers and directors violated the Securities Exchange Act of 1934. Nuance develops, markets, and supports a voice-recognition software platform that purportedly makes the information and services of enterprises, telecommunications networks A telecommunications network is a of telecommunications links and nodes arranged so that messages may be passed from one part of the network to another over multiple links and through various nodes. , and the Internet accessible from any telephone. The complaint alleges that after exceeding analysts' earnings expectations for its fourth quarter and reporting "record revenue," defendants reaffirmed Nuance's leadership position in the voice-recognition market and the continued revenue growth experienced since the end of the fourth quarter. Thereafter, the Individual Defendants, contrary to their unwavering public support for the Company's prospects and its stock, sold vast quantities of their holdings in Nuance stock. Just weeks after defendants finished selling their own Nuance stock, they revealed that the Company's revenue growth had in fact ceased, and that revenues for the quarter would be well below those reported for the prior quarter. Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Stull, Stull & Brody who has significant experience and expertise in prosecuting class actions on behalf of investors and shareholders. If you are a member of the class described above, you may, no later than May 21, 2001, move the Court to serve as lead plaintiff, if you so choose. In order to serve as lead plaintiff, however, you must meet certain legal requirements. A lead plaintiff is a representative party that acts on behalf of other class members in directing the 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. . In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of the other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Stull, Stull & Brody, or other counsel of your choice, to serve as your counsel in this action. If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to this matter, please contact: Timothy J. Burke of Stull, Stull & Brody at 888-388-4605 or via e-mail at tburke@secfraud.com or on the law firm's website at www.secfraud.com. |
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