To: David L. Carter who wrote (3128 ) 3/3/1998 10:43:00 AM From: Mark D. Earl Read Replies (1) | Respond to of 3529
Tuesday March 3, 9:32 am Eastern Time Company Press Release Class Action Filed Against SystemSoft BALA CYNWYD, Pa.--(BUSINESS WIRE)--March 3, 1998--Notice is hereby given that a class action lawsuit was filed yesterday in the United States District Court for the District of Massachusetts, on behalf of all persons who purchased the common stock of SystemSoft Corporation (''SystemSoft'' or the ''Company'') in the open market from Jan. 25, 1996 through March 3, 1997, inclusive (the ''Class Period''). The complaint charges SystemSoft (NASDAQ: SYSF - news), certain of its officers and directors and its outside auditor with the making of numerous materially false or misleading statements regarding the prospects of the Company's highly-touted ''SystemWizard'' product and with the presentation of materially false or misleading financial statements during the Class Period. Such misrepresentations artificially inflated the price of SystemSoft's common stock, thereby allowing certain officers and directors named as defendants to sell in excess of 1,000,000 shares for proceeds in excess of $21 million. Plaintiffs seek to recover damages on behalf of class members and are represented by the law firm of Schiffrin Craig & Barroway, LLP, among other firms. Schiffrin Craig & Barroway, LLP maintains offices in Bala Cynwyd, Pa., Buffalo Grove, Ill. and Voorhees, N.J. and has significant experience and expertise prosecuting class actions on behalf of investors and shareholders. 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 Schiffrin Craig & Barroway, LLP (Andrew L. Barroway, Esq.) toll free at 888/299-7706 or 610/667-7706, or via e-mail at classlaw@ix.netcom.com.