BALA CYNWYD, Pa., July 31, 2003 (PRIMEZONE) -- Law offices of Brodsky & Smith, LLC today announces that a securities class action lawsuit has been filed on behalf of shareholders who purchased the common stock and other securities of Quest Software, Inc. ("Quest" or the "Company") (Nasdaq:QSFT), between April 30, 2002 and July 23, 2003 inclusive (the "Class Period"). The class action lawsuit was filed against the Company and certain of its officers and directors in the United States District Court for the Central District of California.
The Complaint alleges that defendants violated federal securities laws by issuing a series of material misrepresentations to the market during the Class Period, thereby artificially inflating the price of Quest securities. On July 23, 2003, the Company revealed that its 2002 results and first quarter results for 2003 were false when issued due to a computational error in revenue recognition.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased Quest stock between April 30, 2002 and July 23, 2003, you have certain rights. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you want to discuss your legal rights, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Marc L. Ackerman, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at clients@brodsky-smith.com, or by calling toll free 877-LEGAL-90.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca