HARTFORD Conn., July 19, 2006 (PRIMEZONE) -- The law firm of Schatz & Nobel, P.C., which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Northern District of California on behalf of all persons who purchased or otherwise acquired the publicly traded securities of Juniper Networks, Inc. ("Juniper" or the "Company") (Nasdaq:JNPR) between September 1, 2003 and May 22, 2006, inclusive, (the "Class Period"). Also included are all those who acquired Juniper through the acquisitions of Perbit Networks and NetScreen Technologies.
The Complaint alleges that defendants violated federal securities laws by issuing a series of materially false statements. Specifically, Juniper Networks and its top executive officers and directors failed to account properly for stock option grants made to Juniper Networks employees, thereby falsely inflating the company's reported financial performance.
If you are a member of the class, you may, no later than September 15, 2006, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members, including decisions concerning settlement. The securities laws require the Court to consider the class member(s) with the largest financial interest as presumptively the most adequate lead plaintiff(s).
While Schatz & Nobel has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, class action cases in general, and your rights, please contact Schatz & Nobel toll-free at (800) 797-5499, or by e-mail at sn06106@aol.com, or visit our website: www.snlaw.net.