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Fraud Lawsuit Filed on Behalf of Purchasers of Datastream Systems, Inc.

GREENVILLE, S.C., March 12 /PRNewswire/ -- The Law Offices of Steven E. Cauley, P.A. today announced that a class action has been filed in United States District Court, District of South Carolina on behalf of all purchasers of Datastream Systems, Inc. (Nasdaq: DSTM) ("Datastream") common stock during the period April 1, 1998 to October 20, 1998 (the "Class Period"). The complaint charges that Datastream and certain of its officers and directors violated the federal securities laws, alleging that defendants improperly inflated earnings from operations by utilizing accounting treatments not in conformity with generally accepted accounting practices. As a result, the complaint alleges that the price of Datastream common stock was artificially inflated during the Class Period and when Datastream surprised investors by issuing a press release on October 20, 1998 announcing disappointing earnings for the third quarter of 1998, Datastream stock collapsed $4-1/8 or 29%, to $10 per share.

The Plaintiff seeks to recover damages on behalf of all those who purchased or otherwise acquired the common stock of Datastream during the Class Period (the "Class"). This lawsuit has been filed by lawyers with substantial experience in representing investors in securities fraud class action lawsuits such as this. If you would like to serve as lead plaintiff in this lawsuit or have any questions on how you may be able to recover for the losses you have incurred, please E-mail or call one of the following:

Steven E. Cauley

Scott E. Poynter

LAW OFFICES OF STEVEN E. CAULEY, P.A.

2200 N. Rodney Parham Road, Suite 218

Little Rock, AR 72212

Toll Free: 1-888-551-9944

E-mail: cauleypa@aol.com
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Publication:PR Newswire
Geographic Code:1USA
Date:Mar 15, 1999
Words:270
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