LOS ANGELES, Jan. 22, 2004 (PRIMEZONE) -- Notice is hereby given that Glancy Binkow & Goldberg LLP commenced a Class Action lawsuit in the United States District Court for the Northern District of California on behalf of a class (the "Class") consisting of all persons who purchased securities of Micromuse, Inc. ("Micromuse" or the "Company") (Nasdaq:MUSEE) between October 24, 2000 and December 30, 2003, inclusive (the "Class Period").
A copy of the Complaint is available from the court or from Glancy Binkow & Goldberg LLP. Please contact us by phone to discuss this action or obtain a copy of the Complaint at (310) 201-9161 or Toll Free at (888) 773-9224, by email at info@glancylaw.com, or visit our website at www.glancylaw.com.
The Complaint charges Micromuse and certain of the Company's executive officers with violations of federal securities laws. Among other things, plaintiff claims that defendants' dissemination of materially false and misleading statements concerning Micromuse's financial performance caused the Company's stock price to become artificially inflated, inflicting damages on investors. Micromuse develops, markets and supports a family of scalable software solutions that enable the effective monitoring of the status of multiple devices and elements underlying an information technology service delivery infrastructure. The complaint alleges that during the Class Period defendants caused Micromuse to report in its public filings, press releases and other public statements favorable financial results by misrepresenting the Company's financial performance. Plaintiff claims these statements were materially false and misleading because they failed to disclose and/or misrepresented the following adverse facts, among others: (i) that the Company had improperly accounted for the timing of certain accrued expenses and the recognition of certain other expenses; (ii) that the Company lacked adequate internal controls and was therefore unable to ascertain the true financial condition of the Company; and (iii) that as a result, the values of the Company's net income and financial results were materially overstated at all relevant times.
Plaintiff seeks to recover damages on behalf of Class members and is represented by Glancy Binkow & Goldberg LLP, a law firm with significant experience in prosecuting class actions, and substantial expertise in actions involving corporate fraud.
If you are a member of the Class described above, you may move the Court, not later than March 15, 2004, to serve as lead plaintiff, however, you must meet certain legal requirements. 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 Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1801 Avenue of the Stars, Suite 311, Los Angeles, California 90067, by telephone at (310) 201-9161 or Toll Free at (888) 773-9224 or by e-mail to info@glancylaw.com.
More information on this and other class actions can be found on theClass Action Newsline at www.primezone.com/ca