and now the expected...and as always PTC goes first.
]Friday July 10, 3:14 pm Eastern Time
Company Press Release
Parametric Technology Corp. Named In Expanded Class Action
NEW YORK--(BUSINESS WIRE)--July 10, 1998--Notice is hereby given that a class action lawsuit was filed today in the United States District Court for the District of Massachusetts, on behalf of all persons who purchased or otherwise acquired the common stock of Parametric Technology Corp. (NASDAQ:PMTC - news; ''Parametric'' or the ''Company''), between April 16, 1998 and July 1, 1998, inclusive (the ''Class Period'').
The complaint charges Parametric and certain officers and directors of the Company during the relevant time period with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The complaint alleges that defendants issued a series of materially false and misleading statements concerning the Company's business, products, operations and sales trends. Because of the issuance of a series of false and misleading statements, the price of Parametric common stock was artificially inflated during the Class Period. Prior to the disclosure of the adverse facts described above, certain officers and directors of Parametric sold significant amounts of Parametric common stock to the unsuspecting investing public. These sales generated proceeds in excess of $6.8 million.
Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Milberg Weiss Bershad Hynes & Lerach LLP (''Milberg Weiss''), among others. Milberg Weiss maintains offices in New York City, San Diego, Los Angeles and San Francisco and is active in major litigations pending in federal and state courts throughout the United States. Milberg Weiss has taken a leading role in numerous important actions on behalf of defrauded investors, and is responsible for a number of outstanding recoveries which, in the aggregate, total approximately $2 billion. For more information about Milberg Weiss, please visit our website at www.milberg.com.
If you are a member of the class described above, you may, not later than sixty days from today, move the Court to serve as lead plaintiff of the class, if you so choose. In order to serve as lead plaintiff, however, you must meet certain legal requirements.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Milberg Weiss (Steven G. Schulman or Samuel H. Rudman) at One Pennsylvania Plaza, 49th Floor, New York, New York 10119-0165.
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Contact:
Milberg Weiss Bershad Hynes & Lerach LLP
Steven G. Schulman
Samuel H. Rudman
E-Mail: classact@microweb.com.
1-800-320-5081 |
