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Technology Stocks : CATP-The stock is taking off -- Ignore unavailable to you. Want to Upgrade?

To: Rick who wrote (564)	3/23/1999 11:38:00 AM
From: wlcnyc	Read Replies (1) \| Respond to of 782

biz.yahoo.com Tuesday March 23, 10:54 am Eastern Time Company Press Release Wolf Haldenstein Files Class Action Against Cambridge Technology Partner's Inc. NEW YORK--(BUSINESS WIRE)--March 23, 1999--Wolf Haldenstein Adler Freeman & Herz LLP announces that it has filed a class action lawsuit in the United States District Court for the District of Massachusetts on behalf of all persons who purchased common stock issued by Cambridge Technology Partners, Inc. (NASDAQ: CATP - news; ''CAMBRIDGE'' or the ''Company'') at artificially inflated prices during the period November 25, 1998 through March 18, 1999 (the ''Class Period'') and who were damaged thereby. The Complaint alleges that the defendants violated the federal securities laws (Section 10(b) and 20(a) of the Securities Exchange Act of 1934) by misrepresenting or failing to disclose material information about Cambridge's results of operations, financial condition and the failure of its reorganization plan which resulted in continued slow sales in its first fiscal quarter. As a result of defendants' false and misleading statements and omissions, the price of Cambridge's stock was artificially inflated during the Class Period. At the end of the Class Period, the Company announced that its reorganization plan was not having the impact on the Company's problems in its 1998 First Quarter that defendants had led the market to believe and that as a result its sales were still well down. Meanwhile defendants took advantage of the stock's artificially inflated price to sell significant amounts of their own holdings for proceeds of over $3,139,000. A substantial amount of defendants' insider selling took place only one month before defendants' announcement of March 18, 1999 regarding the failure of the Company's reorganization plan. Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Wolf Haldenstein Adler Freeman & Herz LLP (www.whafh.com). The Wolf Haldenstein firm has a full service commercial practice consisting of more than 40 attorneys based in New York City and San Diego. The firm's litigation department has been recognized by courts throughout the country as highly experienced and skilled in complex litigation, particularly with respect to federal securities laws, class actions and shareholder litigation. The firm's qualifications have repeatedly received very favorable judicial recognition. Additionally, the firm has achieved recoveries of over one billion dollars for defrauded investors and shareholders. If you are a member of the class described above, you may, not later than sixty days from March 23, 1999, 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 Wolf Haldenstein Adler Freeman & Herz LLP at 270 Madison Avenue, New York, New York 10016, by telephone at (800) 575-0735 (Michael Miske or Gregory Nespole, Esq. or Fred Taylor Isquith, Esq. or Shane T. Rowley, Esq.) via e-mail at classmember@whafh.com or visit our website at www.whafh.com All e-mail correspondence should make reference to Cambridge. -------------------------------------------------------------------------------- Contact: Wolf Haldenstein Adler Freeman & Herz LLP, New York Michael Miske, Gregory Nespole, Fred Taylor, or Shane T. Rowley, 800/575-0735 www.whafh.com. classmember@whafh.com nespole@whafh.com -------------------------------------------------------------------------------- More Quotes and News: Cambridge Technology Partners (Nasdaq:CATP - news) Related News Categories: computers, networking