Barrack Rodos Files Suit Against Amplidyne, Inc. and Its Officers and Directors Alleging Misrepresentations
PHILADELPHIA--(BUSINESS WIRE)-- Sept. 24, 1999--Counsel for Class Plaintiff, Barrack, Rodos & Bacine, today issued the following:
A class action has been commenced in the United States District Court for the District of New Jersey on behalf of all persons who purchased the common stock of Amplidyne, Inc. (NASDAQ:AMPD) ("Amplidyne" or the "Company") between September 9 and September 14, 1999, inclusive (the "Class Period").
The complaint charges Amplidyne and its Chief Executive Officer and President with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 as well as Rule 10b-5 promulgated thereunder. The complaint alleges that defendants issued materially false or misleading statements regarding its products and the technology employed therein. Because of the issuance of these false or misleading statements, the price of Amplidyne common stock was artificially inflated during the Class Period.
The plaintiff seeks to recover damages on behalf of all purchasers of Amplidyne common stock during the Class Period. He is represented by the law firm of Barrack, Rodos & Bacine, which has extensive experience in prosecuting investor class actions involving financial fraud. Barrack, Rodos & Bacine has prosecuted securities, antitrust and consumer class actions for over 20 years. The firm has offices in Philadelphia, San Diego, New York, Boston and New Jersey and has been designated lead counsel by federal and state courts across the country in large, complex cases. For more information about Barrack, Rodos & Bacine, please visit their website at www.barrack.com.
If you are a member of the Class described above, you may, no later than November 15, 1999, move the Court to serve as lead plaintiff of the Class, if you so choose. In order to serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action or have any questions concerning this case or your rights or interests, please contact:
Maxine S. Goldman, Shareholder Relations Manager Barrack,
Rodos & Bacine, Counsel for Class Plaintiff 3300 Two Commerce
Square 2001 Market Street Philadelphia, PA 19103 800/417-7305
or 215/963-0600 fax number 888/417-7306 or 215/963-0838
e-mail at msgoldman@barrack.com
CONTACT:
Counsel for Class Plaintiff
Barrack, Rodos & Bacine
Maxine S. Goldman
Shareholder Relations Manager,
800/417-7305 or 215/963-0600
fax: 888/417-7306 or 215/963-0838
e-mail: msgoldman@barrack.com
TICKERS: NASDAQ:AMPD
KEYWORD: PENNSYLVANIA NEW JERSEY
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