Wednesday December 17, 1:39 pm Eastern Time
TRO Learn named in securities fraud suit
NEW YORK, Dec 17 (Reuters) - A securities fraud lawsuit seeking class action status was filed in U.S. District Court for the Northern District of Illinois (Chicago) against TRO Learning Inc and two individuals, law firms representing plaintiffs said Wednesday.
The suit was filed on behalf of all persons who purchased the common stock of TRO during the period December 7, 1995, through November 18, 1997, the law firms Wolf Popper LLP and Miller Faucher Chertow Cafferty and Wexler said in a news release.
The suit alleges that throughout the class period, defendants misrepresented to investors that TRO, and its PLATO Education software products, had achieved broad market acceptance and that TRO was in line to achieve, if not exceed, analysts' revenue and earnings projections for fiscal years ending October 31, 1996, and October 31, 1997, the law firms said.
Officials at TRO were not immediately available for comment.
Based in Hoffman Estates, Ill., TRO produces and markets computer-based interactive instruction and testing systems.
biz.yahoo.com
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