Purchasers 6/10/02 - 10/15/02
On October 15, 2002, Liberate Technologies announced plans to restate its fourth-quarter and fiscal-year financial results for the year ended May 31, 2002, in connection with its recognition of $1.8 million in license-fee revenue. The Company announced it "recently discovered" facts that called into question the timing and appropriateness of the license fee. The company stated that it "currently believes" it will deduct the $1.8 million from its reported fourth-quarter revenue of $19 million. Liberate said it "might" reclassify some or all of the revenue as deferred revenue. Liberate's shares were halted at $1.85 on the news, then resumed trading, closing at $1.44, losing $0.43, or 22% of their value, in a single day's trading.
If you purchased LBRT shares during the period 6/10/02 - 10/15/02, you may be a member of a class of injured security holders. If you have information which would help us prosecute Liberate Technologies, please contact us at mail@schubert-reed.com. If you want more information about the case against Liberate Technologies or class action lawsuits, please review our web site at schubert-reed.com |
