Cyber-Care, Inc. Shareholders Have Until July 18, 2000 to Seek Appointment as Lead Plaintiff
PHILADELPHIA, June 20 /PRNewswire/ -- On May 26, 2000, Weinstein
Kitchenoff Scarlato & Goldman Ltd. filed a class action lawsuit against
Cyber-Care, Inc. (Nasdaq: CYBR) and its Chairman and CEO, Michael F. Morrell.
The action was filed in the United States District Court for the Southern
District of Florida.
The complaint charges Cyber-Care and Mr. Morrell with violations of the
federal securities laws by, among other things, making materially false and
misleading statements. Specifically, prior to obtaining the requisite Food
and Drug Administration approval to market and sell the Company's Internet-
based Electronic Housecall System, ("EHS"), defendants issued a series of
press releases touting customer orders for the EHS units. Many of the
purported customers did not have the financial capability to make the
purchases mentioned. The text of the specific press releases referenced in
the complaint from February 26, 2000 to date can be obtained at
biz.yahoo.com. Specific dates of press releases
referenced in the complaint include, but are not limited to: October 12, 1999;
December 10 & 20, 1999; January 13, 2000; February 4, 24 & 28, 2000; and
March 21 & 22, 2000.
If you purchased shares of Cyber-Care common stock between October 12,
1999 and May 12, 2000, and if the Court certifies the Class as defined in the
Complaint, you may be a member of the proposed Class.
As a member of the proposed Class, you need do nothing further at this
time. You do, however, have two other options. You may choose to file your
own Action, or you may seek to serve as a Lead Plaintiff. Lead Plaintiffs are
selected by the Court, and are responsible for overseeing the prosecution of
the Action and ensuring that the interests of the Class are protected. Courts
often select shareholders who have sustained large losses to serve as Lead
Plaintiffs. Anyone wishing to serve as Lead Plaintiff must file a motion with
the court by July 18, 2000.
Any persons interested in learning more about the action, the role of a
Lead Plaintiff or in serving as a Lead Plaintiff in this securities class
action, may contact Mark Goldman, Esquire or Andrew Henry, Esquire toll free
at 888-545-7201 or by e-mail at msgoldman@wksg.com.
The attorneys at Weinstein Kitchenoff Scarlato & Goldman Ltd. of
Philadelphia, PA are experienced in representing defrauded investors in class
actions in courts throughout the United States. Weinstein Kitchenoff Scarlato
& Goldman Ltd. has achieved a total of more than $1 billion in recoveries for
investors, consumers, and other victims of unlawful conduct.
SOURCE Weinstein Kitchenoff Scarlato & Goldman Ltd.
-0- 06/20/2000
/CONTACT: Mark Goldman, Esquire, or Andrew Henry, Esquire, of Weinstein
Kitchenoff Scarlato & Goldman, 888-545-7201, or msgoldman@wksg.com/
(CYBR)
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