LITTLE ROCK, Ark., Dec. 7, 2001 (PRIMEZONE) -- The Law Firm of Cauley Geller Bowman & Coates, LLP announced today that a class action has been filed in the United States District Court for the District of Massachusetts on behalf of purchasers of Teradyne, Inc. ("Teradyne" or the "Company") (NYSE:TER) common stock during the period between July 14, 2000 and October 17, 2000, inclusive (the "Class Period"). A copy of the complaint filed in this action is available from the Court, or can be viewed on the firm's website at http://www.classlawyer.com/pr/teradyne.pdf.
The complaint charges Teradyne and certain of its officers and directors violated the federal securities laws by issuing a series of material misrepresentations to the market between July 14, 2000 and October 17, 2000, thereby artificially inflating the price of Teradyne common stock. The complaint alleges that Teradyne was experiencing declining orders in its semiconductors testing systems division, which would cause the Company's growth rate to slow from historical levels. Defendants concealed this adverse fact from investors, so that the Company could complete the acquisition of Herco Technology Corporation and Perception Laminates, Inc., d/b/a/ Synthane Taylor, using artificially inflated Teradyne common stock as currency. When the truth about Teradyne's business was revealed to the public, the price of Teradyne common stock dropped precipitously, causing plaintiff and the members of the Class to suffer substantial damages.
If you bought Teradyne common stock between July 14, 2000 and October 17, 2000 inclusive, and you wish to serve as lead plaintiff, you must move the Court no later than December 17, 2001. If you are a member of this class, you can join this class action online at http://www.classlawyer.com/sign_up.html. Any member of the purported class may move the Court to serve as lead plaintiff through Cauley Geller Bowman and Coates, LLP or other counsel of their choice, or may choose to do nothing and remain an absent class member.
Cauley Geller Bowman & Coates, LLP has substantial experience representing investors in securities fraud class action lawsuits such as this. The firm has offices in Florida, Arkansas and California, but represents investors throughout the nation. If you have any questions about how you may be able to recover for your losses, or if you would like to consider serving as one of the lead plaintiffs in this lawsuit, you are encouraged to call or e-mail the Firm or visit the Firm's website at www.classlawyer.com.
CAULEY GELLER BOWMAN & COATES, LLP Investor Relations Department: Jackie Addison, Sue Null or Charlie Gastineau P.O. Box 25438 Little Rock, AR 72221-5438 Toll Free: 1-888-551-9944 E-mail: info@classlawyer.com
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca.