NEW YORK, March 6, 2003 (PRIMEZONE) -- Kaplan Fox & Kilsheimer LLP (kaplanfox.com) filed a class action against Carreker Corp. ("Carreker" or the "Company") (Nasdaq:CANIE) and certain of its officers and directors (the "Defendants"), in the United States District Court for the Eastern District of Texas. This suit is brought on behalf of all persons or entities, other than Defendants, who purchased or otherwise acquired Carreker common stock between May 20, 1998 and December 9, 2002, inclusive (the "Class Period").
The complaint alleges that Carreker and certain of its officers and directors violated the federal securities laws by issuing false and misleading statements during the Class Period.
On May 20, 1998, the Company made an initial public offering (the "Offering") by selling 5.1 million shares of common stock for $11 per share. The Offering was commenced by the filing of a registration statement (the "Registration Statement"), which incorporated by reference a prospectus (the "Prospectus") with the SEC on Form S-1/A (the Registration Statement and Prospectus are collectively referred to herein as the "Registration Statement"). The Registration Statement was the first of many false and misleading statements issued by Defendants throughout the Class Period.
On December 10, 2002, Carreker announced it was postponing its third-quarter earnings release and warned that it may restate its prior results because of problems regarding the timing of revenue recognition. In response to this disclosure, the price of Carreker common stock plummeted, declining by 22.6% to close at $3.93. As a result of the Defendants' false and misleading statements, Carreker common stock traded at artificially high levels during the Class Period. Plaintiff and other members of the Class were damaged thereby.
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 April 11, 2003 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. 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 Laurence D. King, Esq. Kaplan Fox & Kilsheimer LLP 555 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