Cohen, Milstein, Hausfeld & Toll, P.L.L.C.FilesSecurities Fraud Class Action Against Cyber-Care, Inc.
WASHINGTON, May 24 /PRNewswire/ -- The law firm of Cohen, Milstein, Hausfeld & Toll, P.L.L.C., has announced that, on behalf of its client, it has filed a class action lawsuit on behalf of all persons who purchased the common stock of Cyber-Care, Inc. (Nasdaq: CYBR) between Nov. 4, 1999 through May 12, 2000. The suit, filed in the Southern District of Florida, seeks to recover under the federal securities laws for damages sustained by members of the proposed Class. Cyber-Care and its CEO/Chairman of the Board are named in the suit, which alleges the defendants issued false and misleading statements and made material omissions concerning, among other things, Cyber-Care's operations and prospects.
Specifically, the complaint alleges that the defendants failed to disclose that since Cyber-Care's much-hyped Electronic Housecall System, or "EHS" had not yet received FDA approval, it could not be sold or marketed in any way, and that to the extent Cyber-Care was announcing sales or agreements to buy, Cyber-Care was in violation of governmental regulations. In addition, the complaint alleges that as for the sales and agreements Cyber-Care did announce, many were to entities that were either so unestablished or in such poor financial condition as to make the likelihood of the sales actually occurring extremely small. Also undisclosed was that a purported independent analyst touting the stock was actually employed by Cyber-Care's PR firm.
Persons who are members of the Class described above have sixty days from May 19, 2000 to move the court if they desire to serve as lead plaintiffs in the case. In order to serve as a lead plaintiff, you must meet certain legal requirements.
Counsel for the plaintiff is the law firm of Cohen, Milstein, Hausfeld & Toll, P.L.L.C. (www.cmht.com). Cohen, Milstein has significant experience in prosecuting investor class actions and actions involving financial fraud, and has offices in Seattle, Washington, and Washington D.C. The firm's reputation for excellence has been recognized on repeated occasions by courts which have appointed the firm to lead positions in complex multi-district or consolidated litigation, including numerous important cases on behalf of defrauded investors.
If you have questions concerning serving as a lead plaintiff, the case or your rights, you should contact any of the following: Andrew N. Friedman (afriedman@cmht.com), Mark S. Willis (mwillis@cmht.com) or Lisa Polk (lpolk@cmht.com) all of Cohen, Milstein, Hausfeld & Toll, P.L.L.C. 1100 New York Avenue, N.W. Suite 500 - West Tower, Washington, D.C. 20005. Telephone, 888/240-0775 or 202/408-4600.
SOURCE Cohen, Milstein, Hausfeld & Toll, P.L.L.C.
CO: Cohen, Milstein, Hausfeld & Toll, P.L.L.C.; Cyber-Care, Inc.
ST: District of Columbia, Florida
IN: CPR MLM FIN
SU: LAW
05/24/2000 13:50 EDT prnewswire.com |
