NEW YORK, June 27, 2002 (PRIMEZONE) -- Please take notice that the law firm of Kirby McInerney & Squire, LLP has commenced a class action lawsuit in the United States District Court for the Southern District of New York on behalf all persons who purchased securities of Amdocs Limited ("Amdocs" or "the Company") (NYSE:DOX) in the period between July 18, 2000 and June 20, 2002, inclusive (the "Class Period").
A copy of the complaint is available from the Court or from Kirby McInerney & Squire. Please contact us by phone at (888) 529-4787 or by email at dtran@kmslaw.com.
The Complaint charges Amdocs, Ltd., Amdocs, Inc., and certain of its officers, during the specified time period, with violations of sections 10(b) and 20(a) of the Securities Exchange Act of 1934. Among other things, plaintiff claims that defendants' material omissions and materially false and misleading statements regarding the nature of Amdocs' revenue and business prospects caused Amdocs' stock price to become artificially inflated, inflicting damages on investors.
The Complaint alleges that, during the Class Period, defendants overstated the Company's orders backlog and misrepresented or failed to fully disclose the full extent of Amdocs' problems, including a declining backlog, declining customer demand, inadequate Amdocs technology, accounting irregularities and problem acquisitions.
Plaintiffs are represented by Kirby McInerney & Squire, LLP, which specializes in complex litigation, including securities class actions. The firm has repeatedly demonstrated its expertise in this field, and has been recognized by various courts which have appointed the firm to major positions in consolidated and multi-district litigation. The firm's efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling hundreds of millions of dollars, and its achievements and quality of service have been chronicled in numerous published decisions. More information about the firm, class actions in general or about the role of the lead plaintiff in a securities class action can be obtained from Kirby McInerney & Squire's website at http://www.kmslaw.com.
If you are a member of the class described above, you may, no later than August 26, 2002, move the Court to serve as lead plaintiff of the class, if you so choose, pursuant to the Private Securities Litigation Reform Act of 1995 (the "PSLRA"), 15 U.S.C. section 78u-4(a). A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to seek appointment as a lead plaintiff. For more information about the case, its claims, and your rights, please contact:
Ira M. Press, Esq.
Diem Tran
KIRBY McINERNEY & SQUIRE, LLP
830 Third Avenue, 10th Floor
New York, New York 10022
Telephone: (212) 317-2300
or Toll Free (888) 529-4787
E-Mail: dtran@kmslaw.com
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca.