NEW YORK, Nov. 18, 2005 (PRIMEZONE) -- The Rosen Law Firm has filed a class action lawsuit in the United States District Court for the Western District of Texas Case No. A-05-CV-963 on behalf of all purchasers of Motive, Inc. ("Motive or "the Company") (Nasdaq:MOTV) securities between April 21, 2005 through October 26, 2005, inclusive (the "Class Period").
To join the Motive securities litigation as a plaintiff or for further information, please call Laurence Rosen, Esq. toll-free at 866-767-3653 or email lrosen@rosenlegal.com.
You can join the class action online at http://www.rosenlegal.com .
The complaint alleges that during the Class Period Motive and certain of the Company's executive officers issued materially false and misleading financial statements to the investing public and made misstatements regarding its financial prospects in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b 5 promulgated thereunder.
The complaint alleges that Motive issued false and misleading financial statements for the first two quarters of 2005. On October 27, 2005, Motive announced that it would be restating its financial statements for the first two quarters of 2005. Before news of the restatement was released to the public, Scott L. Harmon, the Chairman and Chief Executive Officer of the Company, sold 8,000 shares of his privately held stock for proceeds in excess of $49,585.
The Rosen Law Firm has devoted its practice to shareholder class actions and has been successful in recovering millions of dollars for shareholders in class actions throughout the United States.
If you purchased or otherwise acquired Motive securities between April 21, 2005 through October 26, 2005, and sustained damages, you may, no later than January 15, 2005, move the Court to serve as lead plaintiff. Shareholders outside the United States may also join the action, regardless of which exchange was used to purchase the securities. To serve as lead plaintiff, however, you must meet certain legal requirements. You can join this class action as lead plaintiff online at http://www.rosenlegal.com . If you would like to discuss this action, this announcement, or your rights and interests, please contact plaintiff's counsel Rosen Laurence of The Rosen Law Firm at 212-686-1060 or email any questions to lrosen@rosenlegal.com .
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca