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Kaplan, Kilsheimer & Fox LLP Files Class Action Against FVC.COM, Inc.

NEW YORK, April 14 /PRNewswire/ -- Kaplan, Kilsheimer & Fox LLP has filed a Class Action against FVC.COM, INC. ("FVC.COM" or the "Company") (Nasdaq: FVCX) and certain of its officers and directors in the United States District Court for the Northern District of California. The suit is brought on behalf of all persons or entities who purchased or acquired common stock of FVC.COM between January 21, 1999 and April 6, 1999, inclusive (the "Class Period").

The lawsuit charges FVC and several of its top officers with violations of the securities laws and regulations of the United States. The complaint alleges that defendants issued a series of false and misleading statements concerning the Company's fourth quarter 1998 results. Specifically, the complaint alleges that FVC.COM knowingly or recklessly overstated the Company's results for the fourth quarter of 1998 by engaging in improper accounting practices in violation of generally accepted accounting practices ("GAAP"). The complaint further alleges that certain defendants used their inside knowledge to take advantage of the Company's inflated share price by selling 535,000 of their own shares for gross proceeds of over $7.3 million. Upon the announcement that results for the fourth quarter would be far below expectations, FVC.COM common stock plunged 59% on eight times average volume.

Plaintiff seeks to recover damages on behalf of the Class and is represented by Kaplan, Kilsheimer & Fox LLP, which has decades of experience in prosecuting investor class actions and actions involving securities fraud.

If you are a Member of the Class, you may move the court, no later than 60 days from April 9, 1999, to serve as a lead plaintiff for the class. In order to serve as a lead plaintiff, you must meet certain legal requirements.

If you have any questions about this Notice, the action of your rights, please contact:

Frederic S. Fox, Esq.

Stephen M. Sohmer, Esq.

Adrienne L. Valencia, Esq.

Kaplan, Kilsheimer & Fox LLP

800-290-1952

212-687-1980

e-mail: lawkkf@aol.com

fax: 212-687-7714

625 Third Avenue -- 26th Floor

New York, NY 10017
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Publication:PR Newswire
Geographic Code:1USA
Date:Apr 14, 1999
Words:339
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