NEW YORK, Nov. 7, 2002 (PRIMEZONE) -- Kaplan Fox & Kilsheimer LLP (kaplanfox.com) has filed a class action suit against Credit Suisse First Boston Corporation ("CSFB"), in the United States District Court for the Southern District of New York on behalf of all persons or entities who purchased the common stock of Razorfish, Inc., ("Razorfish" or the "Company") (Nasdaq:RAZF) between June 14, 1999 and May 4 2001 inclusive (the "Class Period").
The complaint alleges that defendant CSFB violated the federal securities laws by issuing analyst reports regarding Razorfish that recommended the purchase of Razorfish common stock and which set price targets for Razorfish common stock, without any reasonable factual basis. The complaint further alleges, among other things, that when issuing its Razorfish analyst reports, defendant CSFB failed to disclose material, non-public, adverse information which it possessed about Razorfish. Throughout the proposed Class Period, CSFB maintained positive recommendation on Razorfish in order to obtain and support lucrative financial deals for CSFB.
The Class Period begins on June 14, 1999 at which time CSFB maintained a "BUY" rating for Razorfish common stock. The Class Period ends on May 4, 2001 the date CSFB belatedly downgraded Razorfish to a "HOLD" rating. As a result of CSFB's false and misleading analyst reports, Razorfish common stock traded at artificially inflated levels during the proposed Class Period.
Plaintiff seeks to recover damages on behalf of the proposed 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 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 proposed Class, you may move the court no later than December 3, 2002 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:
Joel B. Strauss, Esq. Donald R. Hall, 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 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