WEST PALM BEACH, Fla., Feb. 16, 2002 (PRIMEZONE) -- The following statement was issued today by the Law Offices of Leo W. Desmond:
A securities class action has been commenced on behalf of shareholders who acquired Enterasys Networks, Inc. (NYSE:ETS) securities between September 26, 2001 and February 1, 2002, inclusive (the "Class Period").
It is alleged that defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10(b)(5) promulgated thereunder, by issuing a series of materially false and misleading statements to the market throughout the Class Period which statements had the effect of artificially inflating the market price of the Company's securities.
If you purchased Enterasys Networks, Inc. securities between September 26, 2001 and February 1, 2002, you may, not later than April 8, 2002, move the court to serve as a lead plaintiff of the class action seeking to recover damages on behalf of all similarly-situated purchasers of Enterasys Networks, Inc. securities, excluding the defendants and their affiliates.
No class has yet been certified in the above actions. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased stock during the class period, you have a right to become involved as a plaintiff but are not required to do so to recover damages.
In order to serve as a lead plaintiff, you must meet certain legal requirements. If you were a purchaser of the common stock of Enterasys Networks, Inc. during the class period and want to discuss your legal rights, you may call the Law Offices of Leo W. Desmond who will, without obligation or cost to you, attempt to answer your questions and concerns. You may contact the Law Offices of Leo W. Desmond at 2161 Palm Beach Lakes Blvd., Suite 204, West Palm Beach, Florida 33409, by calling toll free at 888-337-6663, by e-mail at Info@SecuritiesAttorney.com, or by visiting its website at http://www.SecuritiesAttorney.com.
Florida Bar Required Disclosure: "The hiring of a lawyer is an important decision that should not be based solely upon advertisements. Before you decide, ask us to send you free written information about our qualifications and experience."
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca.