GILTF
3/25/02
siliconinvestor.com
If you purchased Gilat Satellite Networks, Ltd. securities between November 13, 2000 and October 2, 2001, you may, not later than May 10, 2002, move the court to serve as a lead plaintiff of the class action seeking to recover damages on behalf of all similarly-situated purchasers of Gilat Satellite Networks, Ltd. securities, excluding the defendants and their affiliates.
3/15/02
sbclasslaw.com.
The complaint charges Gilat Satellite Networks, Ltd. and certain of its officers and directors with issuing false and misleading statements concerning its business and financial condition. Among other things, plaintiff claims that the defendants knew or recklessly disregarded, yet covered up the fact, that the demand for and acceptance of Gilat's products and the products of its subsidiary, StarBand Communications, Inc., were greatly overstated, that Gilat was having difficulty manufacturing and selling its chief product, Very Small Aperture Terminal (VSAT) profitably, that Gilat's purported gross profit margins were false, that Gilat was materially understating its costs and expenses and that Gilat, accordingly, would have to take massive charge-offs, numbering in the hundreds of millions of dollars in the future. Plaintiff claims that defendants' material omissions and the dissemination of materially false and misleading statements caused Gilat's stock price to become artificially inflated, inflicting enormous damages on investors. |
