To: philip TESORIERO who wrote (1289 ) 3/10/1998 6:39:00 PM From: bob jaremsek Respond to of 1704
Shareholders Sue CellPro Inc. -- NASD: CPRO -- PHILADELPHIA--(BUSINESS WIRE)--March 10, 1998--A Class Action lawsuit was filed Tuesday in the United States District Court for the Western District of Washington, by Berger & Montague, P.C., and Scott & Scott, L.L.C. on behalf of all purchasers of CellPro Inc. (NASDAQ: CPRO - news) common stock during the period March 10, 1995 through July 28, 1997, inclusive (the ''Class Period''), alleging violations of the Federal Securities Laws against CellPro Inc. (''CellPro''), certain of its officers and directors, and its attorneys, Lyon & Lyon L.L.P. The Complaint asserts that defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by issuing false and misleading financial statements and press releases concerning its willful infringement on patents owned by Johns Hopkins University. During the Class Period, the price of CellPro common stock traded as high as $20.375 in February, 1996. On July 28, 1997, upon widespread dissemination of a scathing court order based upon a jury verdict that CellPro had willfully infringed in patents CellPro's stock dropped to $3.50 per share. This opinion issued by Judge McKelvie of the United States District Court in Delaware ordered CellPro to pay $6.9 million in damages and it also ordered injunctive relief whereby CellPro has to pay 60% of its incremental profits to Baxter Corp., Becton Dickinson & Co. and Johns Hopkins University. The complaint alleges that CellPro and the other defendants knowingly and/or recklessly engaged in a course of conduct designed to mislead the investing public in order to maintain the price of CellPro common stock at artificially high levels throughout the Class Period. It also alleges that defendants continually issued to the investing public false and misleading statements and representations concerning CellPro's products, intellectual property, and the most basic premises underlying the way CellPro intended to and did operate its business. The law firm of Berger & Montague, P.C., has extensive experience in securities class action cases. The Berger firm has played lead roles in major cases over the past 25 years which have resulted in recoveries in excess of $1 billion to investors, including the well-known Boesky/Drexel Burnham Lambert/Michael Milken cases. Courts widely recognize Berger & Montague, P.C. for the high quality of its legal representation on behalf of defrauded investors. Scott & Scott, L.L.C. is a Connecticut based law firm with offices in Colchester (suburban Hartford), New London and Philadelphia, Pa. Scott & Scott has a sophisticated practice representing companies both public and private, in litigation matters. This firm also handles matters of tax, corporate transactions and other litigation upon request. Scott & Scott, L.L.C. also has a boutique practice representing both companies and individuals in matters of securities litigation, antitrust and consumer fraud. Their practice is nationwide. If you would like to discuss this action or if you have any questions concerning this notice or your rights with respect to this matter, you may contact: Merrill G. Davidoff, Esq. BERGER & MONTAGUE, P.C. 1622 Locust St. Philadelphia, PA 19103 Telephone: 888/891-2289 or 215-875-3000 Fax: 215-875-5715 E-mail: InvestorProtect@bm.net Berger & Montague invites you to visit its Web site on the Interet at bm.net Neil Rothstein, Esq. SCOTT & SCOTT, L.L.C. 108 Norwich Avenue Colchester, CT 06415 Telephone: 800-404-7770 or 860-537-3818 E-mail: nrothstein@aol.com Contact: Berger & Montague, P.C. Merrill G. Davidoff, Esq., 888/891-2289 or 215/875-3000 Fax: 215-875-5715 E-mail: InvestorProtect@bm.net or Scott & Scott, L.L.C. Neil Rothstein, Esq., 800/404-7770 or 860/537-3818 E-mail: nrothstein@aol.com