BALA CYNWYD, Pa., June 25, 2003 (PRIMEZONE) -- The following statement was issued today by the law firm of Schiffrin & Barroway, LLP:
Notice is hereby given that a class action lawsuit was filed in the United States District Court for the Western District of Pennsylvania on behalf of all purchasers of the common stock of Printcafe Software, Inc. ("Printcafe" or the "Company") (Nasdaq:PCAF) from June 18, 2002 through October 22, 2002, inclusive (the "Class Period").
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Schiffrin & Barroway, LLP (Marc A. Topaz, Esq. or Stuart L. Berman, Esq.) toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at info@sbclasslaw.com.
The complaint alleges that defendants violated Sections 11, 12(a)(2) and 15 of the Securities Act of 1933 by issuing a materially false and misleading Registration Statement and Prospectus (the "Prospectus") in connection with Printcafe's initial public offering ("IPO"). The complaint alleges that the Registration Statement and Prospectus were materially false and misleading because statements made therein failed to disclose and misrepresented the following adverse facts, among others: (a) that demand for the Company's products and services was declining to the extent that the Company was not performing in line with its internal expectations; (b) that the Company's product development efforts were experiencing difficulties; and (c) that the Company's declining financial performance would require it to engage in a material restructuring of its operations in order to generate cost savings and reverse that negative trend. At the time of the filing of the complaint, the price of Printcafe common stock was $2.57 per share.
Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Schiffrin & Barroway, which prosecutes class actions in both state and federal courts throughout the country. Schiffrin & Barroway is a driving force behind corporate governance reform, and has recovered in excess of a billion dollars on behalf of institutional and high net worth individual investors. For more information about Schiffrin & Barroway, or to sign up to participate in this action online, please visit http://www.sbclasslaw.com/cgi/signup.cgi.
If you are a member of the class described above, you may, not later than August 25, 2003, move the Court to serve as lead plaintiff of the class, if you so choose. In order to serve as lead plaintiff, however, you must meet certain legal requirements.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca