Weiss & Yourman Files Class Action Lawsuit Against Leap Wireless International, Inc. on Behalf of Shareholders
PR Newswire - December 30, 2002 14:48
LOS ANGELES, Dec. 30 /PRNewswire/ -- The law firm of Weiss & Yourman announced today that a class action lawsuit has been filed in the United States District Court for the Southern District of California on behalf of purchasers of Leap Wireless International, Inc. (OTC Bulletin Board: LWIN) securities during the period of February 11, 2002 through and including July 24, 2002 (the "Class Period").
Leap provides digital wireless services to the mass consumer market under the provider name "Cricket." The Complaint charges that the Company and certain of its officers and directors violated federal securities laws by issuing a series of false and misleading statements concerning the Company's financial condition which, among other things, concealed the deteriorating value of its wireless license assets by grossly overstating their value. As a result, the complaint alleges, investors who purchased Leap securities during the Class Period did so at artificially inflated prices and were damaged when the true facts were revealed.
Plaintiff seeks to recover damages on behalf of the Class and is represented by Weiss & Yourman. The firm, with offices in New York and Los Angeles, has extensive experience in complex litigation, particularly securities class actions, and has been appointed lead class counsel in numerous consolidated and multi-district cases. You may visit the firm's website at www.wyca.com .
If you are a member of the Class described above, you may move the Court, no later than February 10, 2003, to serve as a lead plaintiff for the Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Weiss & Yourman, or other counsel of your choice, to serve as your counsel in this action.
If you wish to discuss this action, or have any questions or concerns regarding this notice or your rights, please contact:
Weiss & Yourman - Los Angeles
Telephone: (800) 437-7918
email: info@wyca.com
internet: www.wyca.com
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SOURCE Weiss & Yourman
/CONTACT: Weiss & Yourman - Los Angeles, +1-800-437-7918, info@wyca.com /
/Web site: wyca.com /
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