Weiss & Yourman Announces Filing of Class Action Against New Era of Networks, Inc. -- Civil Action Number 99-WM-1276
NEW YORK--(BUSINESS WIRE)--July 12, 1999--The following was released today by Weiss & Yourman:
On July 7, 1999 a class action lawsuit against New Era of Networks, Inc. (''New Era'' or the ''Company'') (NASDAQ:NEON - news) and certain individuals associated with the Company was commenced in the United States District Court for the District of Colorado on behalf of purchasers of New Era shares. If you purchased New Era shares between October 29, 1998 and July 7, 1999, please read this notice. The Action has been assigned to United States District Judge Walker Miller and identified as Civil Action number 99-WM-1276.
The complaint charges New Era and certain of its executive officers with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The complaint alleges that defendants issued a series of materially false and misleading statements regarding the Company's financial condition and results of operations. These false and misleading statements caused the price of New Era's stock to be artificially inflated. The complaint further alleges that thousands of shares of New Era stock were sold by certain insiders at artificially inflated prices.
This action seeks to recover damages on behalf of defrauded investors who purchased New Era securities. Plaintiff is represented by Weiss & Yourman, a law firm possessing significant experience and expertise in prosecuting class actions on behalf of defrauded shareholders in federal and state courts throughout the United States. Weiss & Yourman has been appointed by numerous courts to serve as lead counsel in class action lawsuits and in that capacity has recovered hundreds of millions of dollars on behalf of investors.
If you purchased New Era securities during the period of October 29, 1998 and July 7, 1999, you may move the court no later than September 5, 1999, to serve as a lead plaintiff of the class. In order to serve as a lead plaintiff, you must meet certain legal requirements.
If you wish to receive an investor package or if you wish to discuss this action, or have any questions concerning this notice or your rights or interests with respect to this matter, or if you have any information you wish to provide to us, please contact:
Weiss & Yourman, New York
Joseph H. Weiss or James E. Tullman
The French Building
551 Fifth Avenue, Suite 1600
New York City 10176
Telephone: (888) 593-4771 or (212) 682-3025
E:mail: wynyc@aol.com
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Contact:
Weiss & Yourman, New York
Joseph H. Weiss or James E. Tullman
(888) 593-4771 or (212) 682-3025
wynyc@aol.com |
