Amplidyne, Inc. is Charged With Securities Fraud in Class Action Filed byBerman DeValerio & Pease LLP
Berman, DeValerio & Pease LLP
a law firm specializing in representing shareholders
in class action lawsuits, issues the following press release:
BOSTON, Oct. 1 /PRNewswire/ -- Amplidyne, Inc. (OTC Bulletin Board: AMPD) ("Amplidyne" or the "Company") was charged with misleading investors in a securities class action with respect to the financial condition and business prospects of the Company. The case was filed as a class action in the United States District Court for the District of New Jersey on October 1, 1999 on behalf of all persons and entities who purchased the common stock of Amplidyne during the period September 9, 1999 through and including September 14, 1999 (the "Class Period") and who suffered losses on their investments.
The action charges that Amplidyne and its President and Chief Executive Officer issued materially false and misleading financial statements during the Class Period. In particular, it charges that Amplidyne provided false and misleading statements and/or omissions concerning the present and future financial condition and business prospects of the Company particularly involving the development of a new set of products to offer high speed wireless internet access. As a result of these misrepresentations and omissions, the price of Amplidyne's common stock was artificially inflated throughout the Class Period.
Plaintiff seeks to recover damages on behalf of all those who purchased or otherwise acquired Amplidyne common stock during the class period.
If you purchased Amplidyne common stock during the period of September 9, 1999 through September 14, 1999, and suffered a loss on your investment, you may wish to contact the lawyers at Berman DeValerio to discuss your rights and interests:
Norman Berman, Esq.
Alicia Duff, Esq.
Berman, DeValerio & Pease LLP
One Liberty Square, Boston, MA 02109
E-Mail: bdplaw@bermanesq.com.
(800) 516-9926
You can also visit us at our website at www.bermanesq.com.
In addition, under the federal securities laws you may, but not later than sixty days from September 14, 1999, move the court to serve as lead plaintiff of the Class, if you so choose. To serve as lead plaintiff, however, you must meet certain legal requirements. You may contact the attorneys at Berman DeValerio & Pease LLP to discuss your rights regarding the appointment of lead plaintiff.
Berman, DeValerio & Pease LLP has substantial experience in prosecuting shareholder class actions. The firm has been appointed lead counsel in numerous actions involving companies issuing false and misleading statements, has successfully litigated these actions and has been singled out for its excellence by many courts.
SOURCE Berman, DeValerio & Pease LLP
CO: Berman, DeValerio & Pease LLP; Amplidyne, Inc.
ST: Massachusetts
IN: CPR
SU: LAW
10/01/1999 12:10 EDT prnewswire.com |
