Corvis Shareholders Have 4 More Days to Seek Appointment as Lead Plaintiff, Says The Pomerantz Firm -- CORV


NEW YORK, March 24, 2003 (PRIMEZONE) -- Pomerantz Haudek Block Grossman & Gross LLP (www.pomerantzlaw.com), which has filed a class action lawsuit against Robertson Stephens, Inc. ("Robertson Stephens") and its former managing director and senior research analyst Paul Johnson ("Johnson") on behalf of investors who purchased the common stock of Corvis Corporation ("Corvis" or the "Company") (Nasdaq:CORV) during the period from August 22, 2000 through January 29, 2001, inclusive (the "Class Period"), announces that shareholders have four (4) more days (until Friday March 28, 2003) to seek appointment by the Court as one of the lead plaintiffs in this action.

The compliant charges that defendants issued false and misleading analyst reports on Corvis that contradicted defendant Johnson's privately held beliefs. As a result of defendants' false and misleading statements, the market price of Corvis common stock was artificially inflated, maintained or stabilized during the Class Period.

On January 9, 2003, the Securities and Exchange Commission ("SEC") and the National Association of Securities Dealers charged Paul Johnson for issuing "Buy" ratings on Corvis to the public while privately advising a group of Robertson Stephens limited partnerships (in which Johnson had invested) to sell their Corvis shares. The SEC complaint also charged Johnson with issuing positive research reports on Redback Networks, Inc. and Sycamore Networks, Inc. in which Johnson praised proposed acquisitions by Redback and Sycamore of two private companies in which Johnson had undisclosed investments.

If you purchased the common stock of Corvis during the Class Period, you have until Friday March 28, 2003 to ask the Court to appoint you as lead plaintiff for the Class. To serve as lead plaintiff, you must meet certain legal requirements. If you wish to review a copy of the Complaint, to discuss this action or have any questions, please contact Andrew G. Tolan, Esq. of the Pomerantz firm at 888-476-6529 (or (888) 4-POMLAW), toll free, or at agtolan@pomlaw.com by e-mail. Those who inquire by e-mail are encouraged to include their mailing address and telephone number.

More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca



            

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