Several class actions have been filed against technology company Mobility Electronics, Inc. (Nasdaq: MOBE) and certain of its officers and directors by stockholders who purchased the company's common stock between September 2, 2003, and January 5, 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. The stockholders seek to recover compensatory damages for the loss of value of their stock.

The action alleges that throughout the applicable period, the defendants repeatedly represented that it expected Mobility to earn $15 million in revenues for the fourth quarter of 2003, which was attributable in large part to the company's agreement with Fellowes, Inc. through which Fellowes would globally market and distribute a line of Fellowes- branded power products from Mobility, as well as custom products based on Mobility's market-leading combination AC/DC technology, through its vast worldwide distribution network, encompassing nearly 30,000 retail stores. Unbeknownst to investors, by the start of the period, Fellowes was allegedly not meeting its sales forecasts and, accordingly, Mobility was not generating the revenues and earnings it had anticipated from the Fellowes Agreement. Prior to disclosing these adverse facts to the investing public, Mobility completed a $15 million private placement, purchased assets from InVision Software and InVision Wireless using its artificially inflated stock as currency and Mobility insiders allegedly unloaded more than $6 million of their personally-held shares to the unsuspecting public. On January 5, 2004, Mobility shocked the market when it announced that it expects revenue for the fourth quarter of 2003 to be approximately $1.0 million to $1.3 million less than the its previous guidance of about $15 million.

If you purchased the securities issued by Mobility Electronics, Inc., during the applicable period, you may request appointment by the court as a lead plaintiff if you do so by April 12, 2004. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the court must determine that your claim is typical of the claims of other class members, and that you 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 affected by the decision whether or not to serve as a lead plaintiff. You may retain any counsel of your choice to serve as you in this action, or you may choose to do nothing, and remain in the class as a silent member.