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Strategies & Market Trends : The Thread -- Ignore unavailable to you. Want to Upgrade?

To: SirRealist who wrote (37077)	3/13/2001 8:13:35 AM
From: vagabond	Read Replies (1) \| Respond to of 49816

Just for your info/amusement, NUFO's now being hit with investor-lawsuits (I'm not much on those kinds of things myself, have rarely heard of them really proving to be worthwhile for small investors. But they're so common these days, it's sometimes worth taking note): ======================= Monday March 12, 8:57 pm Eastern Time Law Firm Stull, Stull & Brody Announces Class Action Lawsuit Against New Focus Inc. LOS ANGELES--(BUSINESS WIRE)--March 12, 2001--The following is an announcement by the law firm of Stull, Stull & Brody: Stull, Stull & Brody announced that it has filed a class action complaint on behalf of all persons who acquired New Focus, Inc. (NASDAQ:NUFO - news) securities between January 31, 2001 and March 5, 2001, inclusive (the ``Class Period´´). The complaint charges that New Focus, Inc. (``New Focus´´ or the ``Company´´) and certain of its officers and directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The Complaint alleges that on January 30, 2001, New Focus issued a materially false and misleading press release raising the Company's revenue guidance for the fiscal year 2001 from $150 million to $240 million. This January 30th press release caused the Company's stock price to artificially escalate. In the five business days following the announcement, defendants sold over $35 million of their own stock, all the while knowing that the Company had a problem with inventory build-up and delayed and canceled orders from customers. Five weeks later, defendants admitted to the Company's problems and lowered the guidance for the fiscal year 2001 to $170-190 million. As a result of defendants' dissemination of false and misleading information, the value of New Focus stock drastically dropped. The complaint alleges that as a result of the defendants' conduct, plaintiff and other members of the Class suffered damages. Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Stull, Stull & Brody who has significant experience and expertise in prosecuting class actions on behalf of investors and shareholders. If you are a member of the class described above, you may, no later than May 11, 2001, move the Court to serve as lead plaintiff, 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 this matter, please contact plaintiff's counsel listed below or visit our website at www.secfraud.com. Contact: Stull, Stull & Brody, Los Angeles Patrice L. Bishop, Esq., 888/388-4605