To: THE DUGGER who wrote (2703 ) 7/23/1998 6:05:00 PM From: DEER HUNTER Read Replies (4) | Respond to of 5232
This is upsetting......... Thursday July 23, 4:57 pm Eastern Time Company Press Release Computer Associates International, Inc.. Named In Class Action NEW YORK--(BUSINESS WIRE)--July 23, 1998--Notice is hereby given that a class action lawsuit was filed on July 23, 1998 in the United States District Court for the Eastern District of New York, on behalf of all persons who purchased the common stock of Computer Associates International, Inc. (NYSE: CA - news; ''CA'' or the ''Company''), between January 20, 1998 and July 22, 1998, inclusive (the ''Class Period''). The complaint charges CA 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 demand for CA's products, trends in its business and the impact of the Asian financial crisis on its operations. Because of the issuance of a series of false and misleading statements, the price of CA common stock was artificially inflated during the Class Period. Prior to the disclosure of the adverse facts described above, certain officers and directors of CA benefitted from the vesting of over $1 billion in bonus stock grants and sold significant amounts of CA common stock to the unsuspecting investing public. These sales generated proceeds in excess of $40 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''). 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. ------------------------------------------------------------------------ Contact: Milberg Weiss Bershad Hynes & Lerach LLP Steven G. Schulman Samuel H. Rudman E-Mail: classact@microweb.com. 1-800-320-5081