I saw this on the web the other day:
New York -- February 24, 1999 -- Pursuant to 15 U.S.C. 78u-4(a)(3)(A)(I), Bernstein Litowitz Berger & Grossmann LLP hereby gives notice that on February 23, 1999, a class action lawsuit was filed in the United States District Court for the Eastern District of Virginia on behalf of purchasers of the common stock of Orbital Sciences Corp. (NYSE:ORB) ("Orbital" or the "Company"), from April 21, 1998 through February 16, 1999, inclusive (the "Class Period").
The complaint charges Orbital, and certain of its officers and directors, with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as well as SEC Rule 10b-5 promulgated thereunder. Specifically, the complaint alleges that, during the Class Period, Orbital issued materially false and misleading financial statements for its first three quarters of fiscal 1998, that artificially inflated the Company's financial results through the improper recognition of revenue in violation of generally accepted accounting principles. The Complaint further alleges that defendants utilized their inside information regarding the artificial inflation of the Company's stock price to sell significant amounts of their own personal Orbital holdings for proceeds of over $3 million.
Plaintiff is represented by the law firm of Bernstein Litowitz Berger & Grossmann LLP ("Bernstein Litowitz"), and the Law Offices of Bruce G. Murphy. Bernstein Litowitz has extensive experience in prosecuting class actions nationwide on behalf of defrauded investors. The firm currently plays a leading role in numerous major securities and complex commercial litigations pending in federal and state courts.
If you wish to discuss this Action or have any questions concerning this notice or your rights or interests in connection therewith, please contact Robert S. Gans, a partner of Bernstein Litowitz Berger & Grossmann LLP at (800) 380-8496 or (212) 554-1400 or by E-mail: robert@blbglaw.com.
If you are a member of the Class described above, you may, not later than April 19, 1999, move the Court to serve as lead plaintiff for the class, if you so choose. In order to serve as lead plaintiff, however, you must meet certain legal requirements. If you wish detailed information about the firm or have any questions concerning your rights or interests in this case, please visit our website at blbglaw.com. |
