NEW YORK, April 3, 2002 (PRIMEZONE) -- Kaplan Fox (kaplanfox.com) has filed a class action against Measurement Specialties, Inc. ("Measurement Specialties or the Company") (AMEX:MSS) and certain of its officers and directors in the United States District Court for the District of New Jersey. The suit is brought on behalf of all persons or entities who purchased the common stock of Measurement Specialties between August 1, 2001 and February 14, 2002 (the "Class Period"), including all persons and entities who purchased or otherwise acquired Measurement Specialties' common stock pursuant, or traceable to, a public offering, which became effective on or about August 1, 2001 (the "Class").
The complaint charges Measurement Specialties and certain of its officers and directors with violations of the federal securities laws. The complaint alleges, among other things, that during the Class Period, defendants issued a series of false and misleading statements regarding the Company's financial condition. In addition, the Registration Statement and Prospectus issued in connection with the offering misrepresented and omitted material facts concerning the Company's financial results. Furthermore, during the Class Period, and in violation of Generally Accepted Accounting Principles, defendants caused Measurement Specialties to falsely report favorable financial results by, among other things, improperly recognizing revenues and improperly overstating inventories. As a result, Measurement Specialties' stock traded at artificially inflated levels during the Class Period.
Plaintiff seeks to recover damages on behalf of the Class and is represented by Kaplan Fox & Kilsheimer LLP. Our firm, with offices in New York, San Francisco, Chicago and New Jersey, has many years of experience in prosecuting investor class actions and actions involving financial fraud. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com
If you are a member of the Class, you may move the court no later than sixty days from today to serve as a lead plaintiff for the Class. In order to serve as a lead plaintiff, you must meet certain legal requirements.
If you have any questions about this Notice, the action, your rights, or your interests, please e-mail us at mail@kaplanfox.com or contact:
Frederic S. Fox, Esq. Jonathan K. Levine, Esq. Hae Sung Nam, Esq. Kaplan Fox & Kilsheimer LLP 805 Third Avenue, 22nd Floor New York, NY 10022 (800) 290-1952 (212) 687-1980 Fax: (212) 687-7714 E-mail address: mail@kaplanfox.com William J. Pinilis Kaplan Fox & Kilsheimer LLP 237 South Street Morristown, NJ 07962 Telephone: 973-656-0222 E-mail address: mail@kaplanfox.com Laurence D. King, Esq. Kaplan Fox & Kilsheimer LLP 601 Montgomery Street San Francisco, CA 94111 (415) 772-4700 Fax: (415) 772-4707 E-mail address: mail@kaplanfox.com
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca