NEW YORK, June 20, 2003 (PRIMEZONE) -- A class action lawsuit has been commenced by Pomerantz Haudek Block Grossman & Gross LLP (www.pomerantzlaw.com) against Lehman Brothers Inc. ("Lehman") and its senior technology analyst Michael E. Stanek ("Stanek") on behalf of investors who purchased the common stock of RealNetworks, Inc. ("RealNetworks" or the "Company") (Nasdaq:RNWK) during the period from July 1, 1999 through June 30, 2001, inclusive (the "Class Period").
The lawsuit alleges that defendants issued false and misleading analyst reports on RealNetworks in a bid to win or maintain lucrative banking and advisory work from the Company. As a result of defendants' false and misleading statements, the market price of RealNetworks common stock was artificially inflated, maintained or stabilized during the Class Period.
If you purchased the common stock of RealNetworks during the Class Period, you have until July 14, 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