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Case ID: 2513 | Stocks | 07/12/2004
A class action has been filed against Printcafe Software, Inc. (Nasdaq: PCAF) and certain of its officers and directors by stockholders who purchased the company's common stock between June 18 and October 22, 2002. The action claims that the defendants violated federal securities laws by issuing a materially false and misleading Registration Statement and Prospectus in connection with Printcafe's initial public offering (IPO). The stockholders seek to recover compensatory damages for the loss of value of their stock.
The action alleges that the Registration Statement and Prospectus were materially false and misleading because statements made therein failed to disclose, or misrepresented, the following adverse facts, among others: 1. That demand for the company's products and services was declining to the extent that the company was not performing in line with its internal expectations. 2. That the company's product development efforts were experiencing difficulties. 3. That the company's declining financial performance would require it to engage in a material restructuring of its operations in order to generate cost savings and reverse that negative trend. At Lawcash.com, it is our goal to keep you informed about important legal cases, class actions and settlements. Our lawyers offer free legal evaluations in tort cases, class actions, personal injury, and other lawsuits because we are dedicated to helping you resolve your legal complaints. Other Stocks Cases of Interest Several class actions have been filed against wine importer Asconi Corporation (AMEX:ACD) and certain of its officers and directors by stockholders who purchased the company's common stock between May 15, 2003, and March 23, 2004. The actions claim that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. On March 06, 2008, a stipulation and order was entered. As the case proceeds, several motions to appoint lead plaintiffs and counsels as well as to consolidate cases was filed on March 28, 2008.
The class has been certified in a class action filed against food processor Tyson Foods, Inc., and certain of its officers and directors, consisting of all persons who purchased IBP, Inc., common stock on or before March 29, 2001, and subsequently sold them between March 30, 2001, and June 15, 2001. The actions claim that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. A class action has been filed against Brooks Automation, Inc. (BRKS), certain of its officers and directors by stockholders who purchased the company's common stock between July 25, 2001 and May 22, 2006. The action claims that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. The stockholders seek to recover compensatory damages for the loss of value of their stock. Several class actions have been filed against mutual fund manager Merrill Lynch & Company, Inc., (various stock symbols) and certain of its officers and directors by stockholders who purchased shares or other ownership units of any of the mutual funds carrying the "Merrill Lynch" brand name through Merrill Lynch, Pierce, Fenner & Smith, Inc., acting as broker between May 20, 1999, and the present. The actions claim that the defendants violated federal securities laws by failing to disclose that the company systematically applied incentives and demerits to induce the brokerage’s mid-level managers to maximize sales of Merrill Lynch funds. A class action has been filed against IT Group, Inc.(ITXG.PK), and certain of its officers and directors by stockholders who purchased the company's common stock between October 21, 1998 and December 23, 2000. The action claims that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. The stockholders seek to recover compensatory damages for the loss of value of their stock. |
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