Purchasers 1/19/00 - 2/1/01
On February 2, 2001, Critical Path announced an investigation into its net loss and revenue recognition practices in the fourth quarter, saying its fourth-quarter net loss of $11.5 million, excluding special charges, and revenue of $52 million may "be materially misstated." Critical Path said in a statement that it had "discovered a number of transactions that put into question the company's financial results." President David Thatcher and VP Worldwide Sales William Rinehart were immediately placed on administrative leave. NASDAQ suspended trading in CPTH shares pending further information. CPTH shares, down from a 12-month high of more than $112, fell 60% in pre-market trading, closing at $3.50, down $6.56 from the prior day's close of $10.06.
If you purchased CPTH shares during the period 1/19/00 - 2/1/01, you may be a member of a class of injured security holders. If you have information which would help us prosecute Critical Path, Inc., please contact us at mail@schubert-reed.com. If you want more information about the case against Critical Path, Inc. or class action lawsuits, please review our web site at schubert-reed.com |
